How to Set a Success Criteria For Launching New Products

Scott Middleton
May 23, 2019 · 5 min read
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Image by pixel2013 from Pixabay

“How do you know if your brilliant new feature has worked out? How do you know if it has failed and you need to kill it?” I asked.

“The best teams set exit criteria” Nick Coster replied. Nick, the co-founder of Brainmates, one of Australia’s top product manager trainers, went on to explain that the best teams he has worked with set their criteria upfront. What does success or failure for their new product or new product feature look like?

Let’s unpack this statement because within it there is so much gold to be had. Let’s understand why doing this is essential and also how you can implement it for your teams.

5 Types of Success Criteria for New Product

Setting your success criteria at the outset has a range of benefits. These are five things to consider:

Lastly, you wouldn’t make an investment in stock or property without some kind of expectation of the return you want. So don’t invest in your product without an idea of what the return will be.

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Image by rawpixel from Pixabay

7 Ways to Apply Success Criteria

Now that you understand the benefits of setting success criteria for new features and new products, you’ll be looking at how to apply this. We’ve even made a template which you can get here, that will help you when setting your criteria. Here are some useful guidelines to use in order to get the most out of setting success criteria:

Now you know how and why to set success criteria for your new feature or product, so when you and your team are celebrating product success, you’ll know it’s for the right reasons.

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Originally published at https://www.terem.com.au on May 23, 2019.

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Scott Middleton

Written by

CEO & Founder, terem.com.au. Australia’s fastest growing product development firm. Consulting to ASX100, tech cos, Govt. + Spin out products.

Agile Insider

Exclusive and practical insights that enable the agile community to succeed.

Scott Middleton

Written by

CEO & Founder, terem.com.au. Australia’s fastest growing product development firm. Consulting to ASX100, tech cos, Govt. + Spin out products.

Agile Insider

Exclusive and practical insights that enable the agile community to succeed.

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