Companies today are hungry for cash. For the small business owner payroll is at risk. Medium to large sized organizations are closely watching new industry products. Remaining competitive is a must.
You, as a business owner want to find solutions. Your creditability, livelihood and future depend on it. Here are 4 key ideas that will guarantee your new product launch will fail- and what you can do to make sure that it doesn’t.
|1. Guaranteed Failure: Not having a process in place, written down and explained to the team members.
If you don’t have a fully tested and robust process in place, then you will not be successful. Your team will be confused and you’ll end up treading water. Expectations and the understanding of how part A works with part C are lost. In the end, you’ll lose money, credibility and clients. Oh, and your team will think you’ve lost your marbles.
Simple Solution: Put a flowsheet together and document the process.
2. Guaranteed Failure: Falling in love with the technology too quickly.
It’s the latest! It’s the greatest! It will solve this problem that we have- or one that we think we have!
Stop and carefully think about the software that’s sitting in front of you. Does it address an actual documented need or an imaginary one? Just because someone builds it does not mean you need to come visit.
Simple Solution: Perform a SWOT analysis on the product that this software is supposed to ‘fix’. While you’re at it perform a SWOT analysis on the software itself. If you decide to proceed look at what else is on the marketplace and compare the tools.
|3. Guaranteed Failure: Deploying another company’s beta system and charging your clients for it.
Would you sell beta?
As a researcher, I test information. Depending on the scope of the project, I will conduct a variety of tests. Different stages of research demand different types of attention. Now, I may want to play around with a tool to see how it works. But, I will not deploy (ever) someone else’s beta tool and charge my clients for it.
For starters, beta testing is to identify problems on an external level. You’re the guinea pig. If your client’s information is lost then you have to fix it. When a company doesn’t deliver on a promise then you can bet that bad news will travel fast.
Sell beta and you’ll lose time, money, effort and your good reputation.
Simple Solution: Don’t leave yourself at the mercy of the developer. Test internally if you must use a beta system. Establish strict parameters around doing. Limit your risk by not offering it as a billable service to the client.
|4.Guaranteed Failure: Not communicating with your information technology team.
The Team. Your Company's Lifeline.
When you don’t communicate with your team you create blind spots. Blind spots are detrimental to a company as they impact morale, problem solving and creativity. When information is withheld the information technology team is left with a guessing game.
When you don’t talk to your technical team, you miss their expertise and their ability to solve complex problems. Their feedback early on could identify potential costly problems after deployment.
Simple Solution: Talk to your information technology team and ask them to provide feedback throughout the process.
|Think about your Road to Success.
Do you have a map?
I’ve given you a few solutions. Now, here’s where you use solid planning throughout the project to meet your goals.
A. Approach the project launch with the end in mind. Doing this provides a roadmap on what you need to do to get to your goal- your X marks the spot.
B. Understand how the new tool fits into the company’s core products. If you’re a television company it makes little sense for you to add a financial tool kit as a stand-alone. Know the product and be aware of how it interacts with other products already in place.
C. Think how your client’s and your team will use this tool on a regular basis. Imagine your client is sitting at this desk. How does he move through the product? What happens when he gets an error message? Do the same internally. Approach the product from a multiple user perspective.
Director of Research
Bringing Research to Life for Businesses