Product Launch Development Stages Problems and Solutions

The last 10% it takes to launch something takes as much energy as the first 90% - Rob Kalin

Introduction

A product launch is a deliberate effort to introduce a new product to the market. The goal is to make sure that everyone in the firm, as well as your partners and potential clients, is aware of your new product. It is just as vital to launch your product as it is to produce a fantastic product.

Critical customer centric and organizational factors are monitored to determine if the newly launched product or service had the expected impact The experiences of partners, employees, and other stakeholders during and after the launch are also closely monitored. This Level enables the founding team members develop a longer-term view of their venture’s success by envisaging strategies for building market traction.

WHAT PROBLEMS YOU SOLVE AT THIS STAGE

• Inadequate market-related preparations (e.g. sales collateral, social media advertising) before launching the product or service
• Inadequate organization-related preparations (e.g. Customer support team not in place, regulatory permits not obtained, insufficient cash to last through the launch) before launching the product or service.
• Post-launch sustenance and growth of the venture is not planned
• Long cycle-time associated with making new hires productive
• The organization does not proactively collect, and act on, its external stakeholders’ experiences of working with the organization
• Team lacks useful and coherent dashboards to monitor and share its progress

HERE ARE KEY PRACTICES TO SOLVE THEM

1. Prerequisites for taking the solution to the market are identified
2. A plan to launch the venture is developed, reviewed and approved
3. Appropriate units and roles are created for managing the startup as an operating organization
4. Units analyze their requirements for human resources
5. Recruitment is planned and implemented for open positions
6. Relevant information and updates are shared with individuals and units
7. Product or service is launched, and its market adoption is monitored
8. Usage of finances and other resources is monitored
9. Noteworthy efforts and results of individual(s) are recognized
10. Strategies for product, market and organizational growth are identified

This is an extract from Ajay Batra's book -The Startup Launchbook (www.startuplaunchbook.com), published by Wiley