One of an engineering team’s greatest challenges in a product-focused company is getting a product to market.
The longer it takes you to get a product to market, the more revenue is lost. That said, few people actually take the time to calculate a real number. That’s why our team built a Late-to-Market calculator, to better understand questions like:
- What’s the true cost of not giving our engineers the tools they need to get their job done on time?
- How much money will we lose if our team misses the launch date by 30 days? By 60 days? By 120 days?
- How much will that one additional feature cost us if it pushes back the product launch date?
- Can we justify hiring a new team member? Should we lay off a team member? What affect does either have on a product’s future revenue?
Our embedded presentation walks through a typical product lifecycle, and how that affects the bottom-line:
- During development, you spend money.
- When your product launches, revenue ramps up.
- At some point, your product matures to max revenue.
- Revenue ramps down as the product lifecycle nears its end.
When you’re late to market, the time and money spent on development increases, but market conditions and competition force the end life date of your product to remain virtually unchanged. Unfortunately, this could mean drastic losses for your company.
We’re thrilled that our presentation was featured as Slideshare’s “Presentation of the Day” on June 2, 2014!
‘How to Calculate the Cost of Being Late to Market’ is the SlideShare of the day. http://t.co/HK6auvQIsZ
— SlideShare Today (@SlideShareToday) June 2, 2014