Tuesday, July 5, 2011

When should you launch a product?

The bottom  line is: as soon as possible!

Jeremy and Barry are, by their own admission, a little high on the Obsessive-Compulsive scale: maybe it's Jeremy's Disney training, but he likes to be pixel-perfect in his graphics; and Barry won't settle for 'good-enough' - he'll test and polish until the code he writes just works every time, and he hates leaving program functions part-built. And me? It's taken years to learn not to keep proof-reading to  make what I write flawless, even to the extent of ensuring I haven't accidentally hit the space bar twice between words! I'd never have begun a sentence, "And..." - much less a paragraph. Temperamentally, we'd all stay locked in our proverbial garden shed, honing and polishing a perfect product.

And yet, the lesson for entrepreneurs is to bring a product to market as soon as you possibly can. Why?

  • You minimize the investment and development effort before you start to get real-world market feedback.
  • You gain ideas, fans, proof that it works, thorough testing and much more.
  • You start to establish market share and reputation.
  • Best of all, you start to generate revenue!
It's no good waiting until a product is perfect, or until you've built and deployed every bell and whistle that's on your mental drawing board. Apart from anything else, some of those ideas may not be what the market place actually wants. The sooner you find that out, the better!

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