It's natural to be excited about taking a product live in startup tech companies, but before you launch make sure you can answer these eight questions.
New product launches are some of the scariest and most exciting moments you will experience as a startup tech company entrepreneur. Not only do you finally get to see your finished vision, but you'll also get a first glimpse at how well your business model will play out on a large scale.
In order to launch effectively, you need to be prepared. No matter how eager you are to see the fruits of your labor begin to make an impact, you must take the time to run through every potential obstacle and ensure you've addressed them all. No launch will ever be perfect, but answering these six questions will help you determine if you are ready:
1. Is the product complete? This may seem like an obvious question, but too many entrepreneurs have launched with an unusable product, in the hopes of attracting an audience while finishing things up on the back end. It's not worth it.
2. What is the worst-case scenario? Imagine everything you can. What happens if the app crashes? What happens if your marketing strategy is ineffective?
3. How extensively has this been tested? Theoretically, you should have been answering this question for months before launch. When you're getting ready to launch, test until your thumbs are sore.
4. Who is ready for support? Is your team going to be standing by to make sure everything goes smoothly? If not, what precautions have you taken for any obstacles that come up?
5. What happens at the end of the first month? Even if you are ready for launch, you need to have a good idea of what your goal for the first month is, and what happens if you do not meet it.
6. What do we develop next? Are you already developing a second phase of your product or a new product? If not, get it on the backburner immediately.
If you have good answers ready for each of these questions, you'll be in a good position to launch your product. Good luck!
This blogger graduated from Goldman Sachs' 10,000 Small Businesses program. Goldman Sachs is a partner of the What Is Working: Small Businesses section.