BB Ep 71: How to Launch a Product, Service, or Business with Stu McLaren

My team thinks I'm never in the office. And, if we're being honest, they have a point. Between travel, speaking engagements, video shoots and off-site writing days, I just don't spend a lot of time at my desk. I remember one particular week when I was with my team all day every day because we were launching a new product. They gave me so much flak those five days. They went on and on about how I was never in the office and how much more fun it was when I did come around. So I decided the following Monday, when I normally wouldn't be in the office, to surprise and delight my team with a box of warm donuts. I thought it was the greatest idea ever. I imagined myself bursting through the doors, while everyone cheered for this special treat. I mean, I really built this whole thing up in my head. As luck would have it, no one was there when I arrived. Not a single person. I was so disappointed. It turns out, I chose a time when every single person on my team was either in a meeting or working in another building. I had planned this surprise poorly. Even though the donuts were still great later on when everyone finally showed up, I was disappointed that my team hadn't been there for the grand entrance. The effect just wasn't the same. This story reminds me of what it often looks like when we launch something new like a product, service or business. We come up with a great idea and have high expectations for what will happen when we share it with the world. And then we launch and no one shows up. It flops and we don't understand why. Launches are important, so we have to get them right. Whether you're introducing a new product line, announcing an upcoming conference, or offering a new service, there are things you must do to have a successful launch-but there's also a lot of room to be creative. That's because launching is both a science and an art. If you want to create a better launch experience, one where people actually show up and buy, you'll want to incorporate three key elements. The Three Essentials of a Successful Launch 1. Relationships Sixty percent of sales occur after the fourth interaction with a potential customer.(1) It's because people buy from those they know, like and trust. That's why if you're going to launch anything, you need existing relationships to launch to. Otherwise, you'll be launching to no one. Don't get intimidated if you don't have any customers yet. Utilize your existing relationships to get started. Announce it to your Facebook friends, send an email to all your contacts, and ask your family, friends and church community if they would help you spread the word. 2. A Date A launch is an event. And just like every event, it must happen on a certain date. The last thing you want to do is drag out a launch over a long period of time because then there's no urgency for your customer to take action. Choose a date that people can put on their calendars, plan around, and get excited about. When you land on a date for your launch, consider what else is going on in your business and the world in that season. You want to make sure it's a good time for your customers to buy and you won't be competing with another event. 3. Anticipation Research shows that when we have time to anticipate something, we actually enjoy it more when it occurs. Makes sense, doesn't it? Half the fun of a vacation is counting down the days. This is why anticipation around your launch is critical to its success. Once you've picked a date, start creating buzz. Remember, it's not just a date. It's an event! People should be daydreaming about the release of your product or service like they fantasize about their upcoming vacation. At Business Boutique, we do this every year when we open enrollment for the Academy. We create new videos, write about the opening in our blog, and post about it on Instagram. We're likely talking about it everywhere...