Five Tips To Follow If You Are About To Launch Your Product
Having a great idea and then turning it into a business proposition can be a great start for a new entrepreneur, but it is quite a tedious task, too. It can be very overwhelming since the company is probably bootstrapped, allowing only a few people do the work of an entire company. It becomes even crazier when you are about to launch your product in the market. Most business owners think that making their product have more features before launching will make its chances of being a hit higher. But they don’t understand that additional features mean additional risks, too.
Hence, here are some important tips that might help you before the launch:
Don’t Try To Do Everything At Once
There have been countless stories of companies going bankrupt and shutting down despite having good funding and investors. It happens because business owners try to give their consumers as much as they can. Their aim is to ensure that they meet every demand their customers make. While it is a great idea to always consider what your customers want, doing so might deplete all your company’s resources and energy. Aside from these, it can also be time-consuming, and by the time the product is launched, they might find that their customers are not using all the features on which they had spent their millions in building and developing. Hence, it is important to find out first which is the most important aspect of your product. And on that note, we will move on to our next point.
Focus On The Most Simple Thing
Focusing on one thing at a time keeps everything organized. It also makes the product better since you have all your attention on making that one feature stand out. Most business owners build a Minimum Viable Product (MVP) — that is, they concentrate on making the simplest thing in the least amount of time, using the least amount of money. MVP helps new business owners launch their product quickly in the market. In fact, when they can do that, they get feedback on their products. Based on the feedback, they work again on the product to make it stellar and meet their customers’ demands.
Don’t Be A Perfectionist
Being a perfectionist might help in other regards, but when you are about to launch a product, don’t be one. When the product is 85% ready, then it is good to go. It’s not ideal to reach for 101% because you’ll never be able to launch your product with that mindset. Experts believe that the time, money, and energy used to reach that 101% is not worth it. Instead, if you launch the product and start collecting feedback, it will be more helpful for the business.
Learn From Feedback
As mentioned before, feedback at this stage is absolutely important. Though it might be hard for someone who has been working on the product night and day to receive negative comments, do not be disheartened and instead take these criticisms as a learning experience and work towards correcting them based on the feedback. If possible, engage with the users and ask them how you can improve the product — welcome their suggestions, if any. Find out what would make them use it even more or make it even more engaging. Social media can also play a big part in this.
Don’t Try To implement Too Many Ideas
Though the business belongs to you, there are probably other people who care about it equally. Chances are they will also have their two cents when you are building the product. Now, it is not wrong to take advice from them, but you need to understand that your first and foremost aim should be to build an MVP and launch it. So, working towards launching the product should be your worry. If you are getting too many suggestions to add features, write them down somewhere and let your team, partner, or whoever is assigned to the task to know that you will include them once it is launched and the customers start using it.
Consumers are your best critic; after all, they are the one using the product. Hence, reach out to them, get their insight on how you can do better. There is no better advice than this.
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