Ready, Set, Fail.

How to launch a new product - Reagan Pollack

Ready, Set, Fail.

Did you know that for the first time founder, a product launch represents the ultimate build-up moment to get everything just right.

But for the repeat founder, a product launch represents the first of many, many revisions to get it right.

Most launches produce lack-luster results. That’s just what to expect so temper your expectations for that million dollar launch.

☝🏼Your goal should be to learn 6 months worth of data and feedback from early users in the first 6 days.

Launch and learn like mad to get out all of the kinks. Then re launch! You heard me right. Pre launching helps you get the kinks out to a small number of users (under 500) and then you officially launch and you’ve eliminated the low hanging fruit of the problems and a few biggies.

Comment below and tell me about your experience whrn you launched your company or product! 👇🏽

#failfast #failure #failforward #winning #entrepreneur #startups#startuplife #thursdaythoughts #launchandlearn #business#businessstrategy #ux #ui #designthinking

 

Reagan Pollack

1 month ago

Reagan Pollack
In 2005 while attending Babson College business school, I set out to launch my first internet startup. The vision was to build a platform (back then it was called a web portal) that would connect the music industry and expedite artist discovery (A&R), facilitate new business deals, and bridge the fragmented music business ecosystem. The goal was large, but in order to accomplish it, without prior experience nor significant connections, I broke the mission down into manageable tasks and chunks. This not only helped lay the foundation but also helped me to prioritize which elements would be needed first and subsequently.At graduation, I headed back to Silicon Valley and began my adventure full steam by opening an office, raising capital, and hiring my first ten team members. With a business plan in hand, I had a clear roadmap from an operational and financial perspective, and by spending significant time constructing the website wire-frames, it helped me to better stress test my assumptions with real-world pre-customer feedback. While most of the business plan didn’t materialize the way I had envisioned, it did help me greatly to strengthen my resolve for the vision and gain confidence that the end goal was material. I implore founders today to spend a few weeks writing down their vision and breaking into daily tasks, and the rank them in order of importance - ask yourself “if this comes first, does this unlock value next?” “If this comes next, does this expedite the next phase on my list?” The best (fastest to get to market and grow) entrepreneurs think in phases and are incredible at prioritizing tasks to reach the next tranche of milestones. Being in a startup can be dizzying - there a dozens of potential features to build, hundreds of people to pitch, and time is your enemy. Practicing prioritization - the ability to truly rank each activity by its weight (value) to drive actual traction - will ultimately position your business to win cost efficiently and market effectively. #nostartupleftbehind #entrepreneur #startups #entrepreneurship #founderstory ... See MoreSee Less
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