Product Launch Basics & The ‘POM Principle’
Inventing something is just the beginning. Getting your product to market, building operational systems, and finding customers who will consistently buy your product is what needs to happen next. Over the past 30 years, I’ve worked with thousands of products and inventors. Many of them get stuck in that first phase. Some remain inventors by choice, creating widget after widget and successfully selling them to companies that do the rest. A very small percentage either do the rest themselves or hire the right people to build out a spark of an idea into something that is needed by a customer—and eventually loved by a customer.
After launching products ranging from grocery store ice cream product extensions for Mrs. Fields Cookies to the first blue-labeled bubbly for champagne Mumm and setting up Think Thin nutrition bars to sell to Glanbia Nutrition Group for a whopping $ 217 million, I’ve seen a lot.
Most of all, I’ve worked with many one-person companies – inventors who created bras that eliminate visible bra lines, basketball shoes that prevent ankle sprains, and wrinkle-releasing beauty serums that were born in kitchen sinks. Through it all, it’s easy for me to identify the qualities and reasons products …