It’s tough in order to launch a great product. But however by sticking to these five simple rules which are mentioned in the article below will help the reader to prepare himself for a more successful launch day .
The following are the simple rules :
1. Find a partner (just one)
Two heads are however definitely better than one while one is trying to work on an idea. If one is more of a visionary and understands the direction as to where one wants the company to go, it can thus be helpful in order to find an integrator to partner with. While the visionary is considered as great at seeing the future and also managing the direction of the company, the integrator is thus good at taking an action and also getting stuff done.
If possible, one would also want to find someone who is thus a friend, or either at least someone one can trust. As one works on these ideas together, one would thus want to be able to share his vision without having in order to worry about losing one’s intellectual property along the way.
With a partner, one can thus do what he does best. The visionary can also thus come up with ideas, and also an integrator can help bring them in order to fruition. Also, having a partner will save thus save one a great deal of time, and this is also considered as important if one is trying to launch a product while however holding down another job or also other responsibilities. Although one may consider adding more partners, but thus having more than two can also make it difficult in order to get to a consensus.
2. Connect and hear the truth.
One must always take some time and should talk with everyone one knows, but one should thus not just ask if they like the product idea, as many of the people may however be more inclined in order to be nice than tell one as to what they really think. Instead, one must also thus ask about any competitors that however make the products similar to the idea, as well as if they however know any of the challenges that thus exist in that space.
3. Be unique.
If one has however decided that his product would solve an important problem, then one must make sure that he has a unique angle for it. If one has competitors, this wouldn’t thus mean that one should stop. However, instead of copying their product or any service, one must however also make sure that the product also brings innovation and an improvement to the table. One must ask himself as to how the solution helps them in order to improve their profits, save costs or both, and also start the conversation there. After all, money is considered as the one thing that however matters most across all businesses.
4. Define your goals.
After one has discussed the idea with others and has also decided in order to move forward, one should thus then:
- Firstly, write a business plan. It is not required that it should be a huge document; one page can thus be enough.
- Secondly, one is supposed to write a mission statement. This can thus be a sentence or two about as to why the company exists. When one has challenges later on (and one surely will!), thus one can however go back to this for inspiration.
- Thirdly, one is required to Define the phases of the product’s lifecycle.
- Fourthly, one is required to build a minimal product in order to launch first, then iterate on it. It will thus be much easier in order to build once one has a product with some of the customers who are however giving the feedback.
- Fifthly, one is required to use contract or an overseas labor in order to help one to keep the costs down.
5. Measure data throughout.
Last but not the least, one is supposed to do a soft launch, and learn what one can from the process. One must measure all of his activity, see what works, and then repeat only those activities. Also, one must spend minimal money and also find innovative ways in order to get the message out. Some of the examples might however include advertising on Reddit, posting on ProductHunt, posting on Quora, and also using the social channels.
If the customers are interested in trying the product, it’s thus decision time. Is one going to raise money or a bootstrap? If one is thus still holding a full-time job at this point, it may thus be time in order to leave or either to cut back on the hours.
However, following these five steps can thus help one in order to launch a great product while one is still holding down a day job. This will also however allow one in order to minimize the risk and also make the most of his time.
The above is a guest article contributed by Simmi Setia, content manager at LegalRaasta — online platform for GST Software.
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