It is time for a reality check on the new product you are planning.
You should have done the market research and customer interviews to determine the height of the success hurdle you will have to clear. It is now time to be honest with your business. Do you believe that this product can be successful, given the following:
- customer base
- sales force
- logistics support
This is the point where many product managers get too emotionally involved in the product and convince themselves that the program is a winner, regardless of the apparent facts. This emotion carries the program along through the process and to market. When the product is active and sales are below forecast, it becomes evident that too much emotion and passion were involved during the analysis phase of the process.
It is better to stop, or at least pause and reassess, a high-risk program in its infancy before large expenditures in money and manpower, than force the project through the system – spending capital and the resulting opportunity costs on a project that should be stopped.