Push your product on the market is more than just ensure that you are ready. It is to ensure that the market is ready, too. As a company, you have to hit this sweet spot, as well as many other factors that you may not have even considered.
Fortunately for us - but not for them - there are a few examples of products that went on the market too early we can learn. Rather than risk repeating these mistakes, I asked 10 entrepreneurs YEC question:
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What is a good example of a technology product will start selling too soon, and that entrepreneurs can learn from this failure ?
Their best answers are below:
1. Geode
The Geode digital wallet was one the first and most successful products on Kickstarter, but turned out to be a complete failure. It failed because they created a product that depends 100 percent on another company (Apple). A key element of the Geode is a case that was made to fit the iPhone 4S. Unfortunately, Apple released the iPhone 5 soon after donors have started receiving their geodes, making the product useless for many people. If you are in the company to develop additional products for other companies, make sure that you understand and are aligned with their upgrade cycle. -Maxwell Finn, Loot!
2. CrunchPad
Six months before launched the first iPad, a little-known tablet called the CrunchPad was thrown into the deadpool never see daylight. In many ways, the CrunchPad prototype seemed eerily similar to the iPad 1. There is no reason why the product has never been public, but there are critical lessons. Entrepreneurs need to assess their risk appetite: If you develop a game-changing product, be prepared for a significantly reduced likelihood of success because of an untested market coupled with technological risks. Yields, on the contrary, could be exponential. - Vishal Shah, NoPaperForms
3. Friendster
Friendster was released in 2002 before people were completely comfortable sharing their lives online . I always regarded their failure as a sign that it is not always essential to be the first to do something. There are generally more likely to enter a new field - just ask Facebook. - Kumar Arora, Aroridex, Ltd.
4. WebTV
It seems with hindsight now compatible TV or Internet connected devices such as Xbox, Apple TV, Roku, etc. But in 1996, WebTV did the same thing before it was cool. Unfortunately, the ecosystem was not ready, there was a lack of broadband services, and the legions of developers of applications that currently exist, but has not done so WebTV a little ahead of its time. The lesson for entrepreneurs is that the time is often important, even if you are a visionary. - Phil Chen, Watch Systems
5. Apple Newton
The Apple Newton was the iPad and iOS that homo habilis is to modern man: very old, limited - but at the time, revolutionary - ancestor. When Newton came out, it was innovative, but too expensive and very Niched. The programming language NewtonScript was difficult to learn and expensive to implement. The lesson is that you must create products whose price is reasonably affordable for most people, and with low barriers to entry for developers so they will want to learn how to create applications for your product. - Dave Nevogt, Hubstaff.com
6. Coin
Corner promised to replace all credit cards in your wallet with a single, so I l I bought. We are now more than a year from the time the Kickstarter crowdfunding campaign ended successfully. The problem is all the technology they used is now obsolete. NFC technology is not built. They were the first to promote the concept, but Apple Pay comes faster. Many customers have already canceled corner. -Joshua Lee, StandOut Authority
7. Iomega Zip drive
These small disks and Zip disks were great at the time, offering free storage previous. But they went to the market without fixing a major problem first: A large percentage of them would fail. The drive head is misaligned and clip the end of the removable media, which makes everything stored there permanently inaccessible. The lesson is that if your product offerings with data storage, you'd better make sure it is free of serious defects before going to market. Otherwise, you'll end up with a large part of your target market by choosing more reliable alternatives. - Jared Brown, Hubstaff
8. Clinkle
Clinkle advertised and marketed them well over a year occurred before they were ready to launch. They raised over $ 20M when they were still the core product set. What happened is that they hired too many people and many inscriptions and media attention early on, so that when they actually started a year later, the excitement had died down . The main lesson is that you should not grow quickly and hire until you have good product on the market. - Randy Rayess, VenturePact
9. SmartEyeglass Sony
Sony is putting a cheaper version and "affordable" Google glass public calledSmartEyeglass. The problem with this product go to the market is that this taking into account the low adoption rate of Google Glass himself. Consumers are still confused as to when and where it is appropriate or necessary for them to use these smart glasses, and many simply see it as a fun and funny invention. Hence, entrepreneurs must learn to turn to the mistakes in the past by other companies and learn from them while putting their own innovations. - Miles Jennings, Recruiter.com
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