4 Tips to Launch New Software Products Quickly from an Existing Business
If you wish to release a new product quickly from your current business, consider white-labelling another company's product. With this strategy, you may re-package another firm's software and sell it as your own. To release a new item rapidly using a white-labelled solution, you may either distribute it or sell it privately. You don't need to build an entire software development team from scratch if you white-label a product. You may simply re-package the other firm's software and sell it as your own. HapPhi provides a number of products that may be rebranded and released immediately.
June 15, 2022
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A new product launch is a big undertaking for any company. It requires time, money, planning, and execution to bring it to market. With so many details to manage and moving parts, you may be wondering how you can launch your new software product from an existing business so quickly. In today’s lightning-fast digital world, consumers have high expectations for new products launching from businesses. If your company launches a new software product from its current business structure, the process will take longer than if you launch it from a separate business entity such as an LLC or subsidiary corporation. Also keep in mind that launching a new software product while keeping your existing business operational can be difficult at first. However, with the right planning and assistance from legal counsel and accountants, it’s not as challenging as you might think.
3 Steps to Launch New Software Products Quickly From an Existing Business
First, you must define your key metrics. This will help you determine if launching a new software product is the right move for your business. For example, you may have the following metrics in mind: - Monthly recurring revenue (MRR) - Customer retention rate - Cost per customer acquisition - Average customer lifetime value Next, plan your product launch strategy. When it comes to launching a new software product from your current business, there are several strategies you can employ to get it done quickly. A common strategy businesses like to use is the white-label product launch. This essentially means you’ll repackage another company’s software and sell it under your brand as your own product. When you launch a new software product from your existing business, you can’t simply launch it as is. You must have a road map and operational checklist in place to ensure you have the right team, funding, and resources to support it.
Step 3: Create the road map and operational checklist
A critical part of launching a new product from your current business is the road map and operational checklist. To do this, you need to create a timeline for your new product launch. This timeline should include the following: - Analysis - Development - Implementation - Marketing - Future expansion After you create the timeline and align it with your budget, you can begin to create a checklist for each phase of the new product launch.
Step 4: Use a white-label product
Another way to launch a new product quickly from your current business is to use a white-label product. With this strategy, you repackage another company’s software and sell it under your brand as your own product. There are two ways to launch a new product quickly using a white-label product: - Distributor launch - Private label launch When you launch a new product quickly using a white-label product, you don’t have to build an entire software development team from scratch. You can simply repackage another company’s software and sell it as if it were your own. HapPhi has a suite of products that can be rebranded and launched in minutes.
Whether you’re launching a new software product from your current business or a new business entity, the process can be challenging at times. With the right planning and assistance from legal counsel and accountants, you can quickly launch new software products from either platform.