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Should companies do “fast to market” or wait until everything is perfect?

Posted: Thu Feb 01, 2018 2:58 pm
by Fast2
Nowadays most business experts suggest that companies should release quick even if not perfect.
Fast to market certainly offers convincing advantages:

1. First to reach consumers with new products before competitors do.
2. Having the opportunity to dominate the market, even with a substandard product—simply because you are there first.
3. The followers will be seen as followers forever rather than an industry leader.
4. For a startup, fast mean running light, lean, less risk of building too much and too long in the wrong direction.
5. "The best writing is rewriting."- E. B. White Maybe the best engineering is re-engineering. Letting things play out in time might just be the best strategy after all.

All the above are true.
I just feel that recently this theory is dominating the business world and consequently there are many good ideas with crappy implementations.

Finding the balance between minimum and viable is often neglected.
The idea and the released product are equals and I can’t emphasis enough about designing and releasing a robust and elegant product. Because

1. If you build a good product it will grow and your company will grow with. Getting your product right at the beginning is the best way not to lose momentum later. Letting market lead the path is usually the best way how a company should grow.
2. The product is just one component of the experience of being your user. If you give an early, incomplete, buggy product, you may not get a second chance. Result? Fast to market may in the end be your fast to fail.
3. Companies must build quality into their products and services. That is just reality. It implies a company wide commitment, a reputation and unsaid trust. Any of these could be that one single reason why someone would use your product. You lose quality you lose the relationship.