Preventing Product Launch Failure: Watch Out for the Pitfalls!
Filed under: Leadership, Marketing, Product Management, Project Management
G. Michael Maddock and Raphael Viton writing in the Innovation Engine column at BusinessWeek online, offer a sobering look at the Ten Reasons Your Next Launch Will Fail. From the propensity of companies to create solutions for unknown problems (Science Run Amok) to the recurring theme of teams convincing themselves that they can't miss (Death by Consensus), this insightful and witty column offers some priceless guidance for marketers, product and project managers and executives everywhere.
Having been on the winning side of some great launches and the losing side of a few spectacular failures in the B2B tech world, I can relate to the problems that Michael and Raphael describe all too well. Some thoughts based on my own experience:
- The Swiss Army Knife or Requirements Run Amok Product: This one finds erstwhile Product Managers (usually unseasoned) working hard to pack every possible feature into an offering in the naive believe that this Swiss Army Knife approach will create a stronger offering. They did not understand their buyer's problems/challenges sufficiently, and they over-specified to compensate.
- The Offering Just Slightly Ahead of Its Time: Yep, I made this mistake. As Maxwell Smart would say, "Missed it by that much." Followed by, "Sorry about that Chief." By now, drinks were supposed to be poured by a Drink Tower robot in Quick Service Restaurants everywhere, saving a veritable fortune in labor and improving time efficiency. My Drink Tower interface from the Point-Of-Sale system burned a lot of time and money. It was really cool in the one site that actually tested a drink tower in 1996. I hear that there are a few more sites now.
- The "We'll Release No Product Before It's Time, Except This One" Launch: This launch failure usually involves a management team that built their budget around a new product launch, only to see schedule delays cut into their nicely developed sales dream. Pressured by the urgency of the situation and the upcoming Board meeting, a watered-down version of the product is launched and you can guess what ensues.
- The Product that Won't Be Born: OK, maybe this is a cheap shot, but it's my column, and I get to offer at least one gripe to a development team or two that couldn't get its act together. It's not always the Product Manager's fault!
The bottom-line for now:
Like the forward pass in football, there are a lot of things that can go wrong and only one thing that can go right: the pass is caught and the product launch is successful. Successfully launching products requires the organization to be Tuned In to their buyers. Solving a vexing problem in a unique way for a distinct group is a great starting point. Creating the culture, systems and approaches requisite for a successful launch requires committed, focused leadership at all levels of the organization. Establishing a high level of competence in product launch is table stakes for success in a world where opportunities are fleeting and and product life cycles shrinking daily.
Hmmm, now, if 5,000 locations save .2 people due to the automatic drink tower, the savings will be worth millions. I wonder if it's time to re-launch that puppy? I suspect that Michael and Raphael would advise against it.
Product Manager does not Mean Product Emperor (and other helpful suggestions for success as a Product Manager)
It’s long been my opinion that the Product Manager has one of the tougher jobs in an organization (see my post: In Support of the Product Manager as MVP). This position is one of those "all of the responsibility with none of the power" roles that grind up and spit out mere mortals with alarming frequency.
There are a number of common mistakes that I’ve observed both new and experienced Product Managers make, that if understood and avoided, might increase the survival and success rate of this endangered species. In no particular order, these common mistakes and hopefully, helpful hints, include:
How do Ideas Turn Into Actions in Your Firm? Hint: Check Your Leadership Culture
Filed under: Leadership, Organizational Transformation, Product Management
Seriously. If you are at or near the top of the food chain in your organization, this is one of those perplexing questions that can have you staring at the ceiling at two in the morning, asking yourself, "Yeah, how do insights and ideas turn into actions in our business?" and "Who is really responsible for new ideas here?"
This is a particularly bothersome issue if you are thinking in terms of strategy and wanting to make certain that profound insights and ideas gained in the market are turned into actions that create value for your stakeholders.
The Meeting is Never for Decision-Making: A Product Management Lesson I Learned at Matsushita
Filed under: Life and Business, Product Management, Project Management
I will be posting from airport lounges this week, but before I head out, I wanted to relate a lesson about decision-making that I learned (the hard way) a number of years ago. This was prompted by a discussion with a promising early career product management professional, "Bob," that had expressed frustration at the way decisions were reached in his company. I think that the lesson still holds today.
Towards an Independent Product Management Organization
Filed under: Organizational Transformation, Product Management
Product Management’s position in the organization is a topic that invites vigorous debate, usually around whether marketing or development should own the function. (Follow the posts, links and comment threads starting at On Product Management for some other perspectives.) While any debate about optimal organization structure can sound a lot like the radio and television sports shows where people argue fiercely over the greatest running back or quarterback of all time (there is no one right answer!), the PM issue merits some consideration. Of course, the right answer may be, "It depends."
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