Adam’s step-by-step guide to releasing a new product

Adam’s step-by-step guide to releasing a new product:

1. Identify a possible market opportunity (sometimes called the ‘problem’)
2. Research the market
1. Identify the ideal customer
2. Identity the ideal user (if the user and customer are not the same)
   
3. Identify market size/opportunity
4. Identify potential competitors
5. Talk to potential customers if possible
6. Talk to as many domain experts as possible to ‘test the water’
1. Be careful not to give away too much!
7. Brainstorm over results and refine the analysis accordingly
3. Determine a clear revenue model
1. Important enough to be its own step!
4. Succinctly describe the refined opportunity
1. If it’s still not clear, go back to the research drawing board – step #2
   
2. Be aggressive about focusing on the core opportunity. More features can always be added later.
5. Design a product based on the succinct description
6. Review the design with key stakeholders
1. If there are any revelations go back to the drawing board – step #2
7. Develop the product
1. Review the developed product (ideally often during development)
2. If there are any revelations go back to the drawing board – step #2 or step #5
8. Launch “soft” with little fanfare (until confidence in performance is high)
9. Review performance and tweak as necessary
10. Let the fanfare begin