A rocket consumes 97 % of its fuel during the first 3 feet of its launch.
The same principal is applicable, while launching a new product or service.
Why 100 days?
Because, that all the time you will ever have.
Your competition is different now.
Your competition is faster, more agile and better equipped.
Your competition is the new economy entrepreneur-he is perhaps younger and more aggressive.
He doesn’t care about reputation of bigger brands.
He is fearless and doesn’t need heavy resources to go ahead and take market share from well-established players.
Today’s market place is full of Davids, who are going all out to fight Goliaths.
The start up jungle is getting over-crowded.
These guys are thinking big and do not mind taking on any big brand, as entry barriers have become lower.
The era of lazy test marketing for six months is over.
The new entrepreneur is turning all established marketing theories on its head. He doesn’t care about the slump in the economy.
He does not believe that there is any good or bad time to start your business.Age and experience does not matter to him- he does not minding starting a business when he is only 18.
He would laugh when you tell him about Malcolm Gladwell ‘s Outliers theory of having 10,000 hours of experience to become world class.
They are not worried about being second in the market.
They don’t mind failing and trying again and again.
It is also established that you can sustain peak level of energy for a period of 100 days.
You will need a continuous “burst of energy” while launching a new product.
Your momentum starts tapering off after three months.
Moral of the story.
If you want to launch a new product-you will be facing a new economy entrepreneur, who is faster and fearless.
You need to plan and launch your product quickly.
You do not have time to make mistakes. (Most entrepreneurs are impatient-they want to go from the big idea to execution stage-without anything in between. This is recipe for disaster.)
For best results,launch the product in 100 days.
Speed is King.
Note: Kindly read next week “ How to launch a new product in 100 days”