An Antidote After Sohrab’s Death, or Sheep’s Head and Trotters for a Newborn

An antidote after Sohrab's death, or sheep's head and trotters for a newborn

Some actions produce poor results if performed at the wrong time, even if they are good in themselves. An antidote arriving too late is no longer a remedy. Sheep's head and trotters are not bad food, but they are not a sensible choice for a newborn.

Business is similar. A good product, idea, team or even funding can fail if introduced to the market at the wrong time.

Is the market ready, or are only we excited?

A serious mistake is confusing our readiness with the market's. We have spent months working on the product, thinking about it and discussing it with the team. Everything seems clear to us. But customers may not even see the problem as we do.

If the market does not yet feel the pain, our product is too early, however good it is. If the market has passed that stage and competitors have solved the problem, we are too late.

What are the risks of entering early?

Early entry is not always bad, but it is expensive. If customers are unready, you must educate the market as well as sell the product. This requires substantial time, money and energy.

Sometimes a small business cannot support this education. The product is right, but explaining it and building acceptance places such a burden on the team that it becomes exhausted.

What are the risks of entering late?

Late entry creates a different risk. Once customers understand the problem, serious competitors are established, prices have settled and customers have made their choices, newcomers face a harder task.

You need a clear advantage. Merely having a similar product is insufficient. Customers must understand why to leave their previous solution and trust you.

How can we identify the right time?

There is no definitive formula, but several signs help:

• Customers themselves talk about the problem, rather than only us.
• They have found incomplete or alternative solutions.
• They will spend time or money on a better solution.
• Competitors exist, but the need is not fully met.
• Our team can deliver and improve quickly.

No competitors does not always mean opportunity; perhaps no market exists. Many competitors does not always mean it is too late; the market may be large and active. What matters is having a clear position in it.

Conclusion

Business is about more than what: when, for whom and with what readiness also matter.

A good product can fail at the wrong time, while an average one at the right time may gain opportunities to improve. Before entering the market, look beyond your love for the product to timing, customer readiness, competitors and your own execution capacity.