Be that the spread of religion through conquest, or the discovery of fire so that we can cook and absorb nutrients more effectively.
As you likely have a deep understanding of your customer, you are able to use logic to come up with a judgement about a potential outcome. The knowledge you already have is giving you clues as to what could potentially work, but you are not completely sure yet. In this stage, you are contesting with intellectual guesswork. The best course of action isn’t to spend millions on building out a new team to launch the product.
After releasing the product, you realise that customers aren’t showing any engagement with the new product. Customers are logging on to the application, but aren’t staying for long. They are using certain features of the product, but not exactly for the solution that you initially had in mind. Overall, the usage is low and the product lacks impact.
You pull together all the numbers and look at the bottom line. How much time did the customers spend using the product? Did they purchase the product after the trial? Did they use the core features that were built to solve specific problems?
Sascha Grumbach is managing partner of the venture builder Argopreneurs. He is an entrepreneur with comprehensive practical experience as a business consultant and project manager in innovation- and disruption projects.