Top 10 Mistakes New Product Founders Make and How to Avoid Them
In this episode, the host provides invaluable advice for aspiring product founders, highlighting the top 10 common mistakes made during product development and how to avoid them. The key topics covered include the importance of market validation, understanding true product costs, the significance of strong branding, heeding customer feedback, simplifying product launches with an MVP approach, accurately estimating timelines, choosing the right manufacturer, devising a robust marketing strategy, pricing products correctly, and building a support network. The episode underscores that with the right strategies and planning, these pitfalls can be avoided, leading to a successful product launch. Viewers are encouraged to engage with the content by sharing, leaving reviews, and joining the host's newsletter for further resources and updates.
00:00 Welcome and Introduction
00:35 Mistake #1: Skipping Market Validation
01:47 Mistake #2: Underestimating Costs
03:19 Mistake #3: Neglecting Branding
05:20 Mistake #4: Ignoring Customer Feedback
06:59 Mistake #5: Overcomplicating the Launch
08:03 Mistake #6: Underestimating Timelines
09:09 Mistake #7: Choosing the Wrong Manufacturer
11:51 Mistake #8: Lacking a Marketing Strategy
13:04 Mistake #9: Incorrect Pricing
14:08 Mistake #10: Not Building a Support Network
14:54 Conclusion and Final Thoughts
Rate, Review, & Follow on Apple Podcasts
“I’m eager to start my own product based business, but I need a hand to guide me through the process of getting from idea to launch.” If that sounds like you, please consider rating and reviewing my show! This helps me support more people — just like you — move toward their goal to develop and launch amazing products into the world. Click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode!
Also, if you haven’t done so already, follow the podcast. I’m adding a weekly episodes to the feed and, if you’re not following, there’s a good chance you’ll miss out. Follow now!
Want to learn how to create a project business plan for your new product development? Sign-up for FREE training via the link below.
Waitlist product concept creation workshop:
Follow me on:
Connect with me on: