Proffesional ways to launch a product [Part 1]
It’s never been easier to bring digital products to market and here we share advice for launching your own products. Launching a product – either as a side project or with the aim to make it a complete business – is a goal of many web designers and developers. However, having a great idea and a well-implemented product is only part of the story. Before you can launch you’ll need to have developed an entire business model around your idea; a model that will be attractive to your custimer and also enable the product to grow. In addition, you’ll need an infrastructure that can deliver the product and a way to provide support to your customers. Our own company has transitioned over the last four years from services to products. in this article We’ll describe some of the things we have learn along the way.
1) START SMALL
If we had one top tip for other people who want to launch a product it is to start small. Launch with the smallest possible thing that you can get people to pay you money for. A minimum product with a minimum amount of infrastucture means little risk and little cash spent up front. Some projects are profitable within 24 hours. However, those up front costs that need to be covered before they start earning. Once yuo get to profitablility you can put money back into developing the product further.
2) CHOOSE A PRICING MODEL THAT WILL SUPPORT YOUR SUCCESS
There is a lot of noisy publicity around well-funded startups, that typically offer free plans to encourage mass adoption. If you’re bootstrapping your product, then you neeed to start making money from the outset. Your pricing should not only be based on a gut feeling of what the market will accept, but also take into consideration what you will need to spend to sell and support your product. The recent example of photo site Everpix, killed in part by an inability to pay an Amazon bill for the hosting of user photos, demonstrates the importance of ensuring that your profit margins will cover the service used to delivery your product.
For those developing products alongside freelance or client work, or a full time job , will your pricing model enable you to make your product your main source of income if it becomes successful? You should consider what happens if your product is a success. Having thousands of users who are all burning through your money isn’t viable for anyone other than the funded startup.
3) PRODUCTS AIMED AT BUSINESS CUSTOMERS ARE OFTEN AN EASIER SELL
If you’re currently at the ideas stage then looking for a product that targets the business-to-business market is generally far easier to make profitable than targeting consumers. in the consumer space, you have a lot of free products, a lot of 99p mobile apps. People are spending their money and of ten not getting value from your pdocut that they can place a cash value on. In the business space – and especially for larger business – people buying your product are often spending company money. Even if they’re being careful with spending, if they’re using your product to either make money or save time and company expense, then they can put a cash value on your offering.