Product Launch Lethargy
Over the course of our adult life we have likely witnessed the pageantry of a rocket launch. After a dramatic countdown, there is a massive flame followed by lift off and the rocket hurtles toward outer space to embark on its assigned mission.
A new product launch is somewhat like a rocket going into space (the market) to meet its objective (satisfy customer needs / create new revenue source). But what happens when a product launch doesn't advance according to script? Product launch lethargy can happen, as in "Houston, we have a problem."
Product Launch Lethargy - Causes and Cures
The dangers of lethargy in new product development are real and fairly common. The first hint of lethargy is the inability of the launch team to take action, waiting for complete consensus or a decision from someone else. This stupor of inaction emotionally saps new product developers' progress and momentum in many ways.
The dictionary defines "stupor" as "a state of reduced or suspended sensibility." Synonyms include inertia, lethargy, or daze.
The condition presents itself in some of the following symptoms:
1. Management does not care for success.
2. New product development has a very high career risk.
3. There are far more reasons for no action than action.
Effective leadership helps transform individuals from the passivity of a stupor-like state to ownership associated with taking action. Underpinning and leveraging leadership is training that creates an environment where individuals take personal responsibility for action.
One fundamental truth of new product development is that a great idea needs people to move it from concept through development to launch. There are always problems in new product development ranging from the seemingly impossible to the merely difficult.
The belief that a project plan of new concept will progress smoothly is an exercise in denial. There are many reasons for New Product Launch Lethargy, but one of the most common ones is the fault of management! Somehow the team loses a sense of urgency and transfers the responsibility back to management!
My experience has been that these excuses result from poor project metrics, too many bad projects, and lack of accountability. My favorite term and management metric is "Time to Launch." This is defined as how many months to launch and what have changed from the previous month or quarter.
Personal career risk can get right to the heart of an individual's motivation and how a company views new product development. A company's culture must embrace empowerment of the product launch team. Similarly recognizing and rewarding prudent risk takers is another important cultural value needed. Without these values, the prospects for succeeding are not very favorable.
Successful Product Launches - Antidotes to Product Launch Lethargy
An old maxim advises "Success has many fathers; failure is an orphan." Extending that thought to our new product development context, there are many ways to succeed in product launch. Lethargy need not be inevitable.
Consider the viewpoint offered by Zoey Jordan who writes a marketing blog. He cites three main elements of success. First is that "want" will sell more than "need." In part, a product must be unique, different, and users can only get it from you. The second element involves value overcoming price. In other words, the benefits of the product or service must be clearly communicated, readily understood, and easily applied. And finally, pricing is appropriate for the market - it is affordable to the buyer and still allows the supplier an acceptable profit.
Still another approach is offered by Advanced Analytical COO, Steve Siembieda. He views a successful product launch as a coordinated team effort involving R&D, Regulatory, Marketing, Operations, and Sales. In this model, the Marketing group acts as the conductor of the process. Clearly, not all cultures will embrace this model.
The point is that these are only two successful approaches. Many more exist. While new product development and product launch may be complex, they are not rocket science. Rather trained, realistic self-empowerment can be the rocket fuel that boosts your team to say "Houston, we have a solution. Go for launch!"
A new product launch is somewhat like a rocket going into space (the market) to meet its objective (satisfy customer needs / create new revenue source). But what happens when a product launch doesn't advance according to script? Product launch lethargy can happen, as in "Houston, we have a problem."
Product Launch Lethargy - Causes and Cures
The dangers of lethargy in new product development are real and fairly common. The first hint of lethargy is the inability of the launch team to take action, waiting for complete consensus or a decision from someone else. This stupor of inaction emotionally saps new product developers' progress and momentum in many ways.
The dictionary defines "stupor" as "a state of reduced or suspended sensibility." Synonyms include inertia, lethargy, or daze.
The condition presents itself in some of the following symptoms:
1. Management does not care for success.
2. New product development has a very high career risk.
3. There are far more reasons for no action than action.
Effective leadership helps transform individuals from the passivity of a stupor-like state to ownership associated with taking action. Underpinning and leveraging leadership is training that creates an environment where individuals take personal responsibility for action.
One fundamental truth of new product development is that a great idea needs people to move it from concept through development to launch. There are always problems in new product development ranging from the seemingly impossible to the merely difficult.
The belief that a project plan of new concept will progress smoothly is an exercise in denial. There are many reasons for New Product Launch Lethargy, but one of the most common ones is the fault of management! Somehow the team loses a sense of urgency and transfers the responsibility back to management!
My experience has been that these excuses result from poor project metrics, too many bad projects, and lack of accountability. My favorite term and management metric is "Time to Launch." This is defined as how many months to launch and what have changed from the previous month or quarter.
Personal career risk can get right to the heart of an individual's motivation and how a company views new product development. A company's culture must embrace empowerment of the product launch team. Similarly recognizing and rewarding prudent risk takers is another important cultural value needed. Without these values, the prospects for succeeding are not very favorable.
Successful Product Launches - Antidotes to Product Launch Lethargy
An old maxim advises "Success has many fathers; failure is an orphan." Extending that thought to our new product development context, there are many ways to succeed in product launch. Lethargy need not be inevitable.
Consider the viewpoint offered by Zoey Jordan who writes a marketing blog. He cites three main elements of success. First is that "want" will sell more than "need." In part, a product must be unique, different, and users can only get it from you. The second element involves value overcoming price. In other words, the benefits of the product or service must be clearly communicated, readily understood, and easily applied. And finally, pricing is appropriate for the market - it is affordable to the buyer and still allows the supplier an acceptable profit.
Still another approach is offered by Advanced Analytical COO, Steve Siembieda. He views a successful product launch as a coordinated team effort involving R&D, Regulatory, Marketing, Operations, and Sales. In this model, the Marketing group acts as the conductor of the process. Clearly, not all cultures will embrace this model.
The point is that these are only two successful approaches. Many more exist. While new product development and product launch may be complex, they are not rocket science. Rather trained, realistic self-empowerment can be the rocket fuel that boosts your team to say "Houston, we have a solution. Go for launch!"
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