As a start up, new product launches can be exciting and scary at the same time.  I think the key is to launch your product when it is working and OK, but not perfect.  Too many small companies make the mistake of waiting too long and developing with the aim of perfection.  Don’t wait, launch and learn and then evolve.  

Launching with a minimum viable product and then engaging your prospects and clients allows you to get valuable real-life feedback from prospective buyers.  It gets you in the market, gives you an opportunity to make adjustments based on the priority and needs of your clients vs what you think your clients may want

Stepping back a bit, to get to this point of you need to not only have a product to sell but you need to understand who you are selling too.  This is your Ideal Customer Profile (ICP).  You can also have more than one ICP too.  As an example, we have a client that has developed a software platform in the bibliometrics space and this platform can be utilized by a number of ICPs including: Government, Educational, Corporate (medium & large) and small start ups.  

Once you know that, then you need to know who, your buyer persona, in those organizations you are selling to, this is typically based on role and/or title.  As an example, it could be the VP of Research in an Educational Institution or the Director of Open Science in a Governmental organization.  

Once you have connected with a prospective buyer, then you need to introduce them to the product, gauge their feedback and then look at next steps.  These are great opportunities to have customers vet your product for you and provide constructive criticism.  It is also an opportunity to learn what their business pain is and how your product can or could solve it.  

Another great aspect of engaging with customers early around new product launches, is getting feedback and input on your planned pricing.  Engaging your client in this conversation and understanding what they would be willing to pay (this could be tied to what they are paying for a competitors product now or tied to the value that is derived) is vitally important here.  This is where all your revenue forecasting starts to come to fruition and gets a sanity check.  

So don’t wait to start selling. Sell with your minimum viable product, get feedback, make change and continue to sell and repeat.  Over time this work will pay off not only in terms of a decent and healthy funnel, but also having a product that was built by listening to the customer.

Good luck with your sales efforts and meetings.  Happy Hunting!

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