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Proven Strategies for Your Next Small Business Product Launch

It’s always
impressive to see entrepreneurs continually driving new product innovations
into the marketplace. It takes hard work to bring a product to market, and not
every product or service launch pans out. In fact, most fail within the first year. Nonetheless, small business leaders will
continue to dream and think big! If you’re planning on rolling out a new
product soon, take a look at these effective strategies that could take your
next launch all the way.

Know the problem you’re solving

One reason so many
products fail is that there was no compelling need for them in the first place.
Some innovations do “lead the need,” but most are solving an already-existing
problem. Entrepreneurs that strive to create the next new product sensation
might be better off to think about known human factors.

Once you have
identified the need, take your product idea to the streets. Make sure you know
who your target audience is at a psychological and emotional level. Investigate
different personas and use
cases.
Find the best fit and feature set for
your product idea. Get critical feedback from users and evolve your product as
you seek real-life input.

Build a better mousetrap

The expression
“there’s nothing new under the sun” means it’s difficult to come up with
something that’s 100% original. Chances are a product solving the same problem
might already exist.

If this happens,
don’t abandon your idea just yet! There will always be a way to improve,
embellish or solve a problem more effectively. For example, you could package
your product in a new way or improve efficiency by outsourcing certain services
like product assembly or kitting. Ohio Valley Goodwill’s Industrial
Services Division
helps companies
bring big ideas to life with our versatile packaging, assembly, and kitting
services.

Make sure your team can handle it

When you introduce a
new product into the mix, you’re adding complexity to your operations. Your
current team might be able to handle the new tasks in-house. But you might also
discover gaps in your capabilities.

Your small business
may be an expert in one area but not have the competencies for something new. Anticipating
this, you can be proactive and hire or outsource for those skills you’re
missing.

Instead of trying to
build from the inside, your business can save time and money by outsourcing to
Ohio Valley Goodwill. Our cost-effective assembly
and kitting services
can handle projects
of nearly any size and scale.

Try a soft launch first

Instead of releasing
a fully-baked product, market an MVP (minimally viable product). In this phase,
less is more. Your brand-new product should have only the essential features.
Your soft-launch users will help you by providing feedback and confirming the
must-have features so you can make changes.

This way, by the time
you’re ready for a full launch, you can be confident that the big holes have
been filled. The soft launch will save you from releasing a flawed product that
can turn off customers from trying future versions.

Ready, set, launch!

A successful product
launch is also a journey—-a journey to a product that will win you rave reviews
and new customers and sales. But along the way, you will need to adapt your
product to the feedback and suggestions you receive. Can your operations move
that quickly?

Ohio Valley
Goodwill’s Industrial Services Division can! In our 60,000+ square-foot
workspace, our dedicated employees deliver quality work by hand. Our services
include assembly and kitting, packaging, shrink wrap, sorting, labeling,
collating, warehousing, inspecting, and more!

Ohio Valley Goodwill is more than a place to shop or donate….

We’re a
purpose-driven organization with a mission. In addition to our well-known
donation centers and retail stores, Ohio Valley Goodwill has a complete Industrial Services Division devoted to providing high-quality outsourcing services to
businesses in Cincinnati, Northern Kentucky, and Southeast Indiana.

Just like our retail
and donation initiatives, our Industrial Services Division exists to help
individuals with disabilities and veterans in our community improve their
lives. Through revenue generated by our B2B outsourcing division, we’re able to
provide job training and assist these individuals in finding meaningful
employment. Through the power of work, we enhance people’s dignity and quality
of life.

When your business
partners with Ohio Valley Goodwill for outsourcing services, you become a part
of our mission to change lives in the Cincinnati community. That’s a very good
thing!

Contact us now to talk about how our assembly and kitting services can
support you and your business. We’re happy to provide a free quote and tour of
our facilities.

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