Do you have a perfect product?
I don’t even know what you sell and I know the answer…NO!
Should you spend time perfecting it before going to market? I don’t even know your market and I know the answer…NO!
If you are waiting for just one more revision before launching your product or service, you might have “Perfect Product Syndrome”.
I started my current video auditing business with no prior experience in video, loss prevention or reporting formats. I took a known problem and found a way to meet the need on a small scale. Only then did I begin tweaking the process and ramped it up to other customers.
So how do you know when it’s time to “go all in”?
Well, start out by going “a little bit in”.
If your product or service has legs at all, try it out…now. You might be able to make it better in the future. But if it works now, get it in the hands of someone that could use it.
Let’s say you want to sell precooked BBQ by the pound (not as a restaurant). But you’re not sure if people will like your product and if it will sell.
Start small and test it out. There is no need to sink thousands of dollars into a commercial smoker until you know it will sell. Cook it for friends and family. Get opinions. How often would they use it? Is it convenient? What do they like or dislike?
Assuming you get positive response there, sell it at a farmers market or fair. (Family and friends could have a tendency to be biased) Over time, are more people interested in your product? Do you get repeat customers?
Now you’re ready to go all out…right? Well, in this case you might be able to share kitchen space with an existing business so you don’t have to be on the hook for real estate, equipment etc.
If that works well you could be ready to set up your own shop and build out some additional products or cross sell with the local bakery. Maybe a local bar would like BBQ on Monday’s but they don’t have a smoker. Find collaborators that you can partner with.
So regardless of your industry (BBQ, software, construction, coaching…whatever) do this:
1. Test the current version of your product or service (even if it’s not 100% complete) with people that might be a future customer.
2. Get feedback as how it would be used.
3. Tweak your idea as needed.
4. Find a larger group of people to further test your product or service to see if it has wider appeal. Get more feedback.
5. Tweak your idea as needed.
6. Collaborate with individuals or complimentary businesses to build or develop your idea, possibly using their infrastructure as a springboard to your own location or equipment.
7. Tweak your idea as needed.
8. Find ways to cross-market your product to more quickly build awareness of your company.
9. Oh, and in case you weren’t sure what to do next…tweak your idea as needed.
If you ever get your product or service to 100% completion, you might be the first person on the planet to do that. Give me a call!
Bottom Line: Don’t feel you need to have things perfect before launching. Test it out now!