The Value of Launching a New Product on time

When you launch a product late, not only do potential sales and profits go down dramatically, but there is also a ripple effect.

When a product launch is delayed by a month, there is extra time and effort required. This throws off resource scheduling, production scheduling, etc for other new products that need to be launched because organizations only have a finite number of resources.

There is not just a loss of revenue on the new product itself, but an incremental cost to the company in not being able to move on to the next product. There is a loss of customer confidence, investor confidence, partner confidence. There is frustration by the employees working on the launch. There is fatigue.

Products that launch on time have a much higher level of profitability than those that don’t, even if the budget to get the product launched was overrun. Consider that next time you have the option to spend money to ensure a product launches on time.

My advice to you – spend the money!