Fire! (But Only When Ready!)

Getting to market in a timely fashion is obviously important. Innovative companies love to be seen as being on the leading edge in their respective fields. Not getting there soon enough can be problematic, not only from an innovative perspective, but also from a revenue perspective. There is often an internal battle between the product designers and engineers who want to tinker until the product is absolutely perfect, and the business and financial executives who do not want the company to be seen losing its competitive edge by being late to market, as well as missing out on revenues to keep the company flourishing.

What a company does not want to is be on the “bleeding edge”, where they either are too far ahead of the curve (where their customers just scratch their heads) or even worse, push a product out to market that has a critical flaw. As the following article shows, moving too soon can be disastrous, and if the “big” boys can make that mistake, then so can anyone else, but with likely fatal consequences. The message is simple. Move with agility, but also with precision.

For more: http://www.theglobeandmail.com/report-on-business/small-business/sb-managing/getting-your-product-to-market-quickly-isnt-always-the-best-strategy/article33476064/