Launching a new product is a feat that can occupy a large share of time, energy, and resources — and for an early-stage company, it’s a very consequential decision to make. It’s imperative to take an objective, thoughtful approach when considering new products to build and launch. A well-executed plan can help a product gain traction, attract lifelong customers, and help you instill confidence in your team and approach.
We’ve built our new resource, A Startup’s Guide To New Product Development, to assist you along your journey. This guide will touch on:
- Defining the full option set of products by analyzing customer segments and their needs
- Narrowing down the option set of products based on key factors (e.g., internal company goals, customer demand, competitive products, and resource allocation)
- Building a product, testing it, and preparing for initial launch