Top Ten Reasons your Launch is Doomed
Your product launch may be set up for failure.
According to Businessweek, your product launch is floating down a river of doom. Unless of course you learn from this top ten list of new product blunders.
Drum roll please…
10. Creating unique products (because you can) and not because the customer wants it.
9. Going with the industry flow (copycatting products from competitors) instead of finding a need and filling it.
8. Launching a product, because someone had a lightbulb moment and the cash was there. It is always a bad idea to launch spur of the moment products without thinking it through.
7. Sitting back to ponder the weak economy. Get a grip and get in the game.
6. Targeting a tiny market. Make sure you know the real size of your market. A sliver of a market will make for a sliver of sales.
5. Designing a product without proper research. Pizza party meetings are not enough research to make crucial design decisions.
4. Releasing products that everyone agrees on. Bland products are born in this manner. Narrow and innovate.
3. Plan without communication. Team buy-in requires constant communication. Keep the boss in the know early and often to avoid last minute squashability.
2. Fail to nurture the creators. Products come from people. Make sure you coddle and reward the idea makers.
1. Hurry to release. Public mistakes are far worse than mistakes made in the comfort of your boardroom. Take your time, test and retest.
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