When building a new product or service, we often get asked “How will we know if we are successful?” The first step is to re-frame that question to “What’s important to measure when?”
We’ve made the case in the video below and created a downloadable cheat sheet to keep your new venture on track.
- Respect and be patient with the journey from initial research to commercial launch – done well, it allows for pivots, and dramatically increases your odds of succeeding down the road.
- Appreciate the stage you’re in – design and measure for that and the concept first (and maybe not what you think you need to report up the chain of command, or what you’re about to get to in the next phase).
- As you use the downloadable template, note what’s fixed, recurring across multiple projects, and what’s variable – those elements that show up uniquely can be powerful in guiding you into the market and helping you be selective about what you pay attention to when.