Millions of dollars are spent yearly developing and launching new products. But did you know that only few in million will prove successful? And even fewer will enjoy a long shelf life.
That’s the cold reality. But you can greatly enhance your chances for business success if your product have important qualities.
Build good people of team
A good team needs to be surrounded with a group of individuals that help each other grow. Running a team has so much more complexities than a single person.
Team needs to have strong sense of purpose and direction with clear instruction. Always encourage them with feedback but don’t overwhelm them with problems on the things they are doing wrong.
Leadership is the important part of the good team, Teams don’t automatically move to become effective. They can be stuck at any points or unable to move beyond, at that time leader need to support a team to navigate further.
Product must be user friendly
User friendly product is to provide good user experience and service appeal good. It’s important to check your product with no tech background people, if they can’t understand it then its a given that no one else will.
Product must be with proper business model
Your business model is a tool to help you build a better business. Don’t think its just a homework assignment.
You needs to identify your specific audience for your product, establish the processes with the good demand generation strategy.
Proper Marketing
A marketing plan describe who your customers are, where they get information and how you expect to reach them.
Now you know the plan, you need to figure out how you are going to reach that customers. Now a days social media has become an essential part of your marketing.
It’s also important to track the strategies that you’re using to ensure it is working properly.
Value to your customer
Got value? That’s the key question to ask when focusing on your customer service. Always consider your customers perspective, work consistently to improve customer satisfaction.