The Most Important Thing About Launching a Product (Hint: You Learned in High School)

Picking the “right time” to launch a new product is a lot harder than just studying the trends and crafting a sound strategy, don’t you think? After all, you may be worried that your product isn’t quite “finished.” And well, the current market may seem unpredictable. Oh and perhaps it’s a new market so there’s no historical data from which to learn. And surely you don’t want to rush and squander the opportunity to make the best possible first impression.

So then, do you wait and take the time to make sure your strategy is just right? Or, do you heed the advice of peers who tell you to get out there and execute?

If yours is a product built for a new, fast moving market (like tech. for instance) there’s often not much to be gleaned from waiting and watching on the sidelines because the market isn’t yet mature enough to tell you anything. You should also recognize that from your perspective your product will probably never be “finished.” And one more thing. Remember that while there may never be an ideal time to launch your product, beware that you don’t wait until your business is cash starved before deciding to take action. 

The net net here is this. In dynamic markets “speed to market” is critical. So, you need to launch before the market moves and you’ve missed your opportunity. Once you execute; listen, learn, and then execute again. Often, in these types of markets a tactic will likely drive the company’s strategy rather than the other way around.

So here’s the thing. As I see it, launching a new product in unchartered territory is kind of like prepping for a party in high school.

You could spend your entire evening trying on clothes in the hopes of putting together the perfect outfit only to find that by the time you arrive at the party the group has moved on and you’ve missed out. Or, you could just put on something respectable and get out the door! You may not have chosen the best ensemble to convey all your style and personality to the group but, you’ll have learned enough from the experience to be better the next time.

Best yet, you won’t have missed the party!

So, what are you waiting for? Get out the door!

This much I know.

-Jeanine