We learn from our own product launch work. We learn from work and partnership with great portfolio companies. And unique to RedFlash, we also learn from interviews we’ve led with champion entrepreneurs who launched, grew and sold companies for $100 million+. Here are three key things to remember when it comes to launching your new product, service or company:
Make it Delightful
We live in a world that is flooded with new ideas and products but most fail utterly. Why? They do not pass the standard of being delightful. Delightful does not mean perfection, it means delivering a remarkable experience that turns customers into fans. Fans who will engage on LinkedIn, Facebook, Twitter and new social platforms.
Speed is Key
Get your product in the buyer’s hands as fast as possible. Developing a new drug? Ok you get a free pass because development time is 11 years. For the rest of us: very few products are able to be final at launch. Get into the market and get feedback. Take those results and begin again. When thinking about how to market a product, speed and iteration are key.
Customer Input Begins at 60%
Go 60% of the way and get the product in the hands of buyers, then let 40% of inspiration come from the world at large. Your customers will tell you what they want, because, let’s face it: your first version will never be 100 percent correct. Maybe some market research works, but real world leadership and validation is far better.