Connect with us

Entrepreneurs

A Step-by-Step Guide On How To Launch New Product or Service

Published

on

Image Credit: Midjourney

Whether you are a brand-new entrepreneur starting with your first business idea or a seasoned small business leader looking to grow your offerings, you should know that there is definitely a right way to launch a new product or service. Audiences tend to become accustomed to a certain type of product or service, especially from brands they already know. So, business leaders need to be careful about introducing new offerings, as they may impact how an audience perceives a brand.

Fortunately, you don’t have to guess about the best way to launch a new product or service. Here is a step-by-step guide to make it easier to grow your business and expand your brand.

Define the Target Audience of Your New Product or Service

A new product or service is worthless if there is not a sufficiently large audience eager to acquire it. Defining your target audience will help you understand whether there is enough demand to warrant the development of a new product or service, and it will give you insights into what your audience needs in terms of product/service design, price point, marketing channels and more.

Research Your Audience’s Buying Journey

A member of your audience experiences a problem, and the journey they engage in to solve their problem should end with the use of your product or service. To guarantee that ending, you need to understand the journey: How does your audience get information? What influences your audience’s purchasing behavior? What kind of buying experience does your audience expect? Answering these questions should give you direction for how to launch your product or service.

Fully Secure the Identity of Your Product or Service

You need to give your product or service a distinctive name, and you need to protect that name from use by your competition. To start, you should look into how to trademark a name to cover the branding of your new product or service. As it could take a few months for your trademark to be secure, in the meantime you should acquire domain names, social media accounts and other assets with your product or service name. The sooner you can get these, the better, though you may need to pay a premium if you are operating in a competitive market.

Look Into Your Existing and Prospective Competition

Many companies opt to fall in line with trends, choosing to copy the branding of the most popular products and services in their industry. However, not only does this “me too” behavior risk infringement lawsuits, but it fails to differentiate a company from its competition. You should research your competitors and try to innovate where they align. Additionally, you should make sure that your new product or service is indeed novel, which can contribute to your selling proposition.

Start Pitching Your New Product or Service ASAP

You want feedback on your new product or service as soon as possible, so you can make changes to your offering that better meet your audience’s needs. To attract early users, you might offer your product or service as a free trial, sample or demonstration, from which you can receive ratings or reviews to affect development. You can also incentivize early use with discounts for preorders, beta participation rewards and more. Not only will this help you refine your product or service, but it will start to build audience anticipation for the eventual launch.

Continue Testing Your New Product or Service

You should continue testing your new product or service regularly, scrutinizing your offering for bugs, up until the day of its launch — and even afterwards. Testing should be rigorous, often resulting in damage, which you can then learn how to fix. Though testing can be frustrating, it is essential for creating the user experience you expect to deliver.

Upgrade Your Product or Service to Keep It Fresh

By this step, you should have already completed your product or service launch — congratulations! But, your work is far from over. To maintain excitement around your offering, you need to regularly upgrade it with new features or functions. Then, you can keep your product or service feeling fresh for years to come.

 

Addicted 2 Success is your go-to blog to learn how to grow your business. Prepare to take over the business world by reading these articles from other successful entrepreneurs:

 

Salman Asif, an editor at FreebiesDip, is an emerging blogger, avid reader, and versatile wordsmith dedicated to shaping impactful content. He derives pleasure from curating news, investigating case studies, and delving into pioneering subjects that hold significant sway over society. His adept command of language shines through his writing, creating an authentic resonance with his readers. Undoubtedly, he possesses an extraordinary and captivating persona.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

The Entrepreneur’s Reading List That Transforms Ideas Into Empires

These must-read titles and writing insights reveal how entrepreneurs turn bold ideas into empire-level success.

Published

on

top entrepreneurship books for business growth
Image Credit: Midjourney

Entrepreneurship is powered by stories—of accomplishment, failure, and decision moments that define businesses. Books are maps, providing insight from individuals who’ve traversed the road ahead. (more…)

Continue Reading

Entrepreneurs

The Leadership Shift Every Company Needs in 2025

Struggling to keep your team engaged? Here’s how leaders can turn frustrated employees into loyal advocates.

Published

on

Bridging the gap between employees and employers
Image Credit: Midjourney

In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”

While there are, of course, cases where management could do better, this isn’t just a “bad boss” problem. The relationship between leaders and employees is complex. Instead of assigning blame, we should explore practical solutions to build stronger, healthier workplaces where everyone thrives.

Why This Gap Exists

Every workplace needs someone to guide, supervise, and provide feedback. That’s essential for productivity and performance. But because there are usually far more employees than managers, dissatisfaction, fair or not, spreads quickly.

What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.

Tools and Techniques to Bridge the Gap

Here are proven strategies leaders and employees can use to foster stronger relationships and create a workplace where people actually want to stay.

1. Practice Mutual Empathy

Both managers and employees need to recognize they are ultimately on the same team. Leaders have to balance people and performance, and often face intense pressure to hit targets. Employees who understand this reality are more likely to cooperate and problem-solve collaboratively.

2. Maintain Professional Boundaries

Superiors should separate personal issues from professional decision-making. Consistency, fairness, and integrity build trust, and trust is the foundation of a motivated team.

3. Follow the Golden Rule

Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.

4. Avoid Micromanagement

Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.

5. Empower Employees to Grow

Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.

6. Communicate in All Directions

Communication shouldn’t just be top-down. Invite feedback, create open channels for suggestions, and genuinely listen to what your people have to say. Healthy upward communication closes gaps before they become conflicts.

7. Overcome Insecurities

Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.

8. Invest in Coaching and Mentorship

True leaders grow other leaders. Provide mentorship, career guidance, and stretch opportunities so employees can develop new skills. Leadership is learned through experience, but guided experience is even more powerful.

9. Eliminate Favoritism

Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.

10. Recognize Efforts Promptly

Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.

11. Conduct Thoughtful Exit Interviews

When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.

12. Provide Leadership Development

Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.

13. Adopt Soft Leadership Principles

Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.

The Bigger Picture: HR’s Role

Mercer’s global research highlights five key priorities for organizations:

  • Build diverse talent pipelines

  • Embrace flexible work models

  • Design compelling career paths

  • Simplify HR processes

  • Redefine the value HR brings

The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.

Treat Employees Like Associates, Not Just Staff

When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.

Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.

Continue Reading

Entrepreneurs

What Makes an Entrepreneurial Leader? Traits of the World’s Best Innovators

Inside the mindset of entrepreneurial leaders who transform risk, passion, and vision into world-changing results.

Published

on

entrepreneurial leadership skills and traits
Image Credit: Midjourney

When you think of Richard Branson (Virgin Group), Bill Gates (Microsoft), Steve Jobs (Apple), Rupert Murdoch (News Corporation), and Ted Turner (CNN), one thing becomes clear: they are not just entrepreneurs, they are entrepreneurial leaders. (more…)

Continue Reading

Entrepreneurs

Building a Business Empire: Lessons from the World’s Boldest Entrepreneurs

Learn essential lessons, success strategies, and mindset shifts every aspiring entrepreneur needs to overcome challenges and build a thriving business.

Published

on

how to build a business empire
Image Credit: Midjourney

Back in July 2017, I attended a business seminar on entrepreneurship in India. With my appetite for learning and meeting new people, I wanted to explore the latest developments in the entrepreneurial world. (more…)

Continue Reading

Trending