Over 97 % of your rocket’s fuel is used during the first three feet of its launch
In the modern era- Speed is GOLD.
Today, you may have two competitors. Wait for six months and you will have twenty-five customers snapping at your heels.
There has never been a better time to be an entrepreneur. There are more businesses, products and services being launched than any time in the history.
Increased competition and fast moving products and business cycles are contributing factors.
Why Do We Need 100 Days?
- 100 days is the ideal time to accelerate the launch phase and keep up the momentum
- New entrepreneurs face cash-flow problems during an initial start-up phase
- This is a low cost, high impact option for new product launches.
As per market research, since 2012, 16,423 products have been launched.
Only 23 have succeeded or 0.14%
When failure rate is so high, it is critical to design your launch strategy to improve your chances to succeed.
A. What’s Your BIG Idea?
• Is your big idea unique and different?
• Is there a market for your idea?
B. Research is Essential
• Is it a growing market?
• How strong is your competition?
C. Making A Plan
• When you have your big idea along with the market research and competition analysis-you need to make a zero error plan.
• Clear goals and combining them with well thought out plan increases your chances of success by 400%
• Make a great product
• A good quality product is the soul of your strategy
B. Dressing up
• Your Name, Logo & Packaging
• Your stationery, your brochure, your office, your culture
• Create a strong position for your brand
• This is the most critical element which is neglected
• More products fail due to bad pricing than anything else
• Select your market wisely
• Initially, select a market, which gives you maximum results with least efforts
• Low hanging fruits are the tasty fruits, which can give you quick results
E. Select The Best Team
• Select the best possible team within your budget
• Good people will decide your success or failure
• Spend maximum time to recruit good people
F. Tell A Great Story
• People don’t buy products- they buy stories
• Make it Unique & Entertaining
• Don’t change your message every third month. Let it burn into your prospect’s mind
• Focus on the outcome
H. Blowing Your Horn
• Don’t use digital media because it is cheap. Use it because your brand needs it
• Be sensible about advertising. 30% of the advertising budget is wasted because of selection of wrong media
1) Identify channel partners
2) Retail audit
3) Build sales team
4) Train sales team
5) Design trade policy
6) Select the market
7) Point-of-sale material
8) Product brochure
9) Supply chain management
10) Retail visibility scheme
11) Dealer meet
12) Launch conference
13) Trade schemes
14) Goods return policy
15) Retail promotion
17) Modern retail entry
20) Route planning
21) Control mechanism