502: Use LAUNCH Code to ease the overwhelm when launching a B2B product – with James Whitman

Product Mastery Now for Product Managers, Leaders, and Innovators

A guide to successful product launches – for product managers

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TLDR

The LAUNCH framework, created by James Whitman, offers a complete approach to successful product launches. It has six main parts: Listen to your clients, Assess the opportunity, Unify the team, Navigate the launch, Control the risks, and Hone the process. This framework helps solve common problems in product launches by encouraging teamwork, constant improvement, and strategic planning. By using the LAUNCH framework, companies can improve how they bring products to market, reduce launch failures, and make their product launch processes better over time.

The LAUNCH Framework

Launching a new product successfully is a big challenge for many companies. More than half of B2B product launches don’t reach their financial goals. This shows that companies need a well-planned approach to product launches. The LAUNCH framework, developed by James Whitman, helps organizations bring new products to market more effectively.

In this article, we’ll explore the LAUNCH framework in detail. We’ll provide insights and practical tips for product managers and leaders who want to improve their launch strategies. We’ll cover each part of the framework, discuss common challenges, and offer best practices for putting it into action.

Understanding the LAUNCH Framework

The LAUNCH framework has six main parts:

• L – Listen to your clients
• A – Assess the opportunity
• U – Unify the team
• N – Navigate the launch
• C – Control the risks
• H – Hone the process

Each part deals with specific aspects of the product launch process, providing a complete approach to launch management. Let’s explore each element in detail.

1. Listen to Your Clients

Listening to clients effectively is the foundation of successful product launches. Many companies struggle with this step, falling into common traps that can derail their launch efforts.

Common mistakes in client listening:

• Not talking to enough clients
• Only focusing on the happiest clients
• Relying on outdated experience
• Building features for just one specific client

To avoid these mistakes, companies should use best practices for client listening:

Best Practice	Description
Involve product leaders in client interactions	Follow Bloomberg’s approach of having product leaders participate directly in client meetings and discussions
Create a sales cabinet	Form a group of experienced salespeople to help with early product design and provide market insights
Set up regular client feedback systems	Create organized ways to gather and analyze client feedback throughout the product development process

By making client listening a priority, companies can make sure their products meet market needs and solve real customer problems.

Example: Bloomberg’s Approach to Client Listening

Bloomberg, a financial software and media company, has an effective way of listening to clients. They make product leaders part of their service model. Once a year, clients get to meet with a senior product manager to discuss their priorities. This approach has several benefits:

• It gives product managers direct access to client feedback
• It helps build stronger relationships with clients
• It allows product managers to gather insights from many different clients
• It makes it easier for product managers to get time with clients, without having to go through the sales team

This method helps Bloomberg create products that truly meet their clients’ needs.

2. Assess the Opportunity

Assessing opportunities is a critical step in the launch process, but it often comes with challenges:

• Personal biases that affect judgment
• Discussions that focus on conflict rather than collaboration
• Too much data that makes it hard to find useful insights

To overcome these challenges and assess opportunities effectively, companies should focus on:

• Reducing bias by using structured decision-making processes
• Encouraging cooperative, growth-focused discussions among team members
• Setting specific, date-based targets and milestones for the launch

By using these practices, product teams can make better decisions about which opportunities to pursue and how to position their products in the market.

3. Unify the Team

Working together across different departments is essential for successful product launches. However, many companies struggle with departments that don’t communicate well and trust issues, especially between product and sales teams.

To bring the team together and improve launch results, consider these strategies:

• Create launch teams with members from product, sales, marketing, and other relevant departments
• Address trust issues directly through open communication and shared goals
• Use the strengths of different departments, taking advantage of each team’s unique expertise
• Use collaborative tools and processes to make communication and information sharing easier

By encouraging a unified approach to product launches, companies can ensure that all team members are working towards the same goals.

The Sales Cabinet

One effective way to unify the team is by creating a “sales cabinet.” Here’s how it works:

1. The product manager asks the head of sales to choose a few experienced salespeople for a special assignment
2. These salespeople become part of a group that helps with early product design
3. The sales cabinet provides valuable market insights to the product team
4. This approach helps build better relationships between the product and sales teams
5. It gives salespeople a chance to contribute to product development, making them more invested in the product’s success

By creating a sales cabinet, companies can improve communication between departments and create better products that meet market needs.

4. Navigate the Launch

The actual launch phase is a crucial moment in the product’s life. To navigate this phase successfully, companies should focus on:

• Building excitement and anticipation around the launch day
• Implementing a fast-paced schedule with daily and weekly activities
• Continuously listening to market feedback and adjusting strategies as needed
• Considering different launch approaches, such as phased or soft launches, depending on the product and market conditions

A well-executed launch can set the stage for long-term product success and help companies gain an advantage over their competitors.

The Importance of Launch Day

James Whitman emphasizes that the launch day should be a big deal for the entire company. Here’s why:

• It marks the start of a new growth opportunity for the company
• It’s the result of significant investment in time and resources
• It’s a chance to create excitement among employees and customers
• It sets the tone for how the market will perceive the new product

To make the most of launch day, companies should:

• Create a sense of anticipation within the company
• Prepare all departments for their roles in the launch
• Plan special events or communications to mark the occasion
• Ensure that customer support and sales teams are ready to handle inquiries

By treating the launch day as a significant event, companies can generate momentum and enthusiasm for the new product.

5. Control the Risks

Managing risks is a crucial part of product launches. Companies must be ready to identify, assess, and reduce various risks throughout the launch process.

Key strategies for controlling risks include:

• Staying flexible in launch strategies to adapt to changing market conditions
• Using a phased approach to market release, starting with a smaller target audience and expanding gradually
• Continuously assessing and adjusting based on market feedback
• Developing backup plans for potential problems or setbacks

By actively managing risks, companies can increase their chances of a successful launch and minimize potential negative impacts on the business.

The Importance of Flexibility

Whitman emphasizes the need for flexibility in product launches. Here’s an example of how this might work:

1. A company plans to launch a new software product with a specific set of features
2. They start with a small group of beta testers
3. Based on feedback, they realize that one feature isn’t as valuable as they thought, but users want a different feature they hadn’t considered
4. Instead of sticking to the original plan, they adjust the product before the full launch
5. This flexibility allows them to launch a product that better meets market needs

By staying flexible and responsive to feedback, companies can reduce the risk of launching a product that doesn’t meet customer needs.

6. Hone the Process

The final part of the LAUNCH framework focuses on continuous improvement. This involves:

• Refining the current product based on market feedback
• Improving the launch process itself for future products
• Establishing consistent performance metrics to track progress and identify areas for improvement
• Creating a culture of learning and adaptation within the company

By continuously improving both the product and the launch process, companies can build a competitive advantage and increase their success rates over time.

Implementing the LAUNCH Framework: Best Practices and Considerations

To effectively implement the LAUNCH framework in your company, consider these best practices:

1. Align with Strategic Goals

Make sure your product launch strategy fits with your company’s overall goals. This alignment helps prioritize resources and gain support from senior leadership.

2. Invest in Cross-Functional Training

Provide training opportunities for team members to build skills across different areas. This can improve collaboration and reduce communication barriers within the company.

3. Use Technology

Implement project management and collaboration tools to make communication easier and streamline the launch process across teams.

4. Establish Clear Metrics

Define clear success metrics for each launch and track them consistently. This data-driven approach can help identify areas for improvement and inform future launch strategies.

5. Foster a Culture of Innovation

Encourage experimentation and learning from failures. Create an environment where team members feel comfortable sharing ideas and taking calculated risks.

6. Continuously Gather and Act on Feedback

Implement systematic processes for gathering feedback from customers, partners, and internal stakeholders throughout the launch process and beyond.

7. Develop a Launch Playbook

Create a standardized launch playbook that outlines key processes, templates, and best practices. This resource can help ensure consistency across launches and make it easier to onboard new team members.

Conclusion

The LAUNCH framework provides a complete approach to product launch management, addressing key challenges and offering practical strategies for success. By focusing on client listening, opportunity assessment, team unification, launch navigation, risk control, and process improvement, companies can significantly enhance their product launch outcomes.

Implementing the LAUNCH framework requires commitment, cross-functional collaboration, and a willingness to continuously learn and adapt. Its benefits – including improved go-to-market strategies, reduced launch failures, and optimized product launch processes – make it a valuable investment for companies looking to gain a competitive edge in today’s dynamic market landscape.

As you consider implementing the LAUNCH framework in your company, remember that success often comes from consistent application and gradual improvement. Start by focusing on one or two areas where you see the greatest opportunity for improvement, and slowly expand your efforts as you build momentum and gain support from stakeholders.

By embracing a structured approach to product launches and fostering a culture of continuous improvement, your company can develop a lasting competitive advantage and drive long-term growth through successful product introductions.

Remember, the key to successful product launches lies in listening to your clients, assessing opportunities carefully, unifying your team, navigating the launch process strategically, controlling risks effectively, and continuously honing your approach. With the LAUNCH framework as your guide, you’ll be well-equipped to bring innovative products to market and achieve your business goals.

Useful links:

• Check out LaunchCodeProject.com
• Connect with James on LinkedIn

Innovation Quote

“Growth is started internally as a strategic initiative but hired operationally.” – Leah Tharin

Application Questions

1. How can we improve our client listening processes to gather more diverse and actionable feedback?
2. What strategies can we implement to better unify our cross-functional teams during product launches?
3. How can we build more flexibility into our launch strategies to better control risks and adapt to market feedback?
4. What metrics should we track to effectively measure the success of our product launches and improve our processes over time?
5. How can we create a culture that supports continuous improvement and learning from both successful and unsuccessful launches?

Bio

James Whitman is the founder of Growth Guidepost which helps mission-driven leaders bring their visions into the world through product launch and commercialization support. He has dedicated his career to leveraging technology to solve pressing global challenges.

His diverse work includes launching businesses to drive post-Soviet economic development, supporting government leaders to speed the delivery of healthcare, bringing excluded groups into the tech workforce, and commercializing innovative technologies to improve the health of our oceans.

James held a series of senior commercial roles at Corporate Executive Board (Gartner) through its most dynamic growth period, where he successfully launched more than 20 new products and led the commercial integration of several acquisitions. He has led commercial organizations for ExecOnline, Catalyte, PeaceTechLab, and Oasis Marinas, generating value by creating repeatable commercial practices.

James holds an MBA and BA Honours from McGill University, a GC from the London School of Economics, and is a graduate of the Middlebury College Language School. He splits his time between Washington DC and Massachusetts with his wife Anna El-Eini, an accomplished fiction author who inspires him daily to strengthen his writing.

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