With innovations, it often comes down to the successful balance between the speed of factual implementation and the degree of maturity in detail. Set KO criteria in the fourth release phase and define nice-to-have criteria that can also be worked on after the market launch without harming the successful launch. Create a project plan with milestones and target dates and ensure tight but agile project management to achieve the project goals on budget and on time. Innovations only succeed if they are introduced to the market at the right time. Therefore, become absolutely clear about when this right time is. Is your target market really ready for your innovative offering? Make it a point to conduct a thorough market analysis. The effort will pay off.
Example: A foreign technical wholesale company wants to enter the German market with its Internet-based trading platform. How Internet-savvy are German craftsmen? What requirements must be met so that they would order components via the Internet?
By the way, the target market can also be within your company.
If you want to introduce a new process but the employees concerned are not yet ready for it, you will probably not succeed with the introduction. Examples can be found in the introduction of new ERP systems, in the introduction of management systems (DIN EN ISO 9001 or 14000) or new ways of working. Statements such as “That won’t work here” are the death knell for innovative approaches.
Even with a top product or service, do not underestimate the marketing effort. Customers are sluggish. This is not meant in a judgmental way. They buy what they have had good experiences with. They not only have to learn about your new service, they also have to be convinced. This requires both advertising and market presence and active sales, supported by public relations (PR). During the market launch, also incorporate feedback from your customers and the users of your products into further product development.