Getting New Product/Services to Market Quickly
The Challenge Defined:
Being slow to get new or enhanced products or services ready for and to the market can be a make-or-break issue for an early stage company and a significant profitability issue for more mature companies.
This challenge typically stems from four critical issues. And as you’ll see, you’ll only have yourself to blame.
- Employees don’t understand the urgency of the go-to-market imperative. You and your leadership team need to set these expectations by establishing and monitoring performance plans.
- There’s no go-to-market process. If developing and introducing innovation is an ad hoc, seat-of-the-pants experience every time, it’s not likely to be successful.
- You have a faulty go-to-market process or your teams are not adhering to the process. The best organizations make it a point to continually test and review their mega-processes so they’re as fresh and top of mind as their daily operational processes.
- Poor training of the people and teams with an active role in processes that drive innovation is a significant element of #3 and deserves special notice and attention.
Finally, just a word of caution. Remember that speed isn’t everything. Your go-to-market processes should also be integrated with quality control, customer service, and financial management processes.
It’s too easy to blame teams and individuals if you consistently seem behind the curve in introducing innovation. Chances are, you haven’t put the right managers, expectations, and processes in place. Do it now!
- Have you completely thought through the internal steps of being relevant in your market?
- Have you put the right processes in place to address those steps or are you simply hoping you have the right people who will do the right things?
Why This Challenge Must Be Resolved:
If your product development process isn’t wired in efficiency, you’ll lose your edge and your position in your marketplace.
Need help with this topic or leadership coaching? Contact Mission Critical Teams.