In today’s episode of The Startup Chat, Steli and Hiten talk about what it takes to launch a new product or company.
Launching a new company or product can be intense and stressful. However, when planned properly, you can reduce any launch headache and give your team a solid plan to help manage the intensity.
Tune in to this week’s episode to hear Steli and Hiten thoughts on how to launch a product, lessons that can be learned from their experiences launching a product, tips and tricks on how to launch a product and much more.
Time Stamped Show Notes:
00:43 Why this topic was chosen.
01:17 Hiten talks about his new product Usefyi.com.
02:26 Some interesting statistics about the launch.
05:20 What counts as a successful launch.
06:33 Typical launch goals for startups.
07:26 What people tend to focus on when they launch a product.
08:12 The biggest thing to think about when you launch a product.
09:50 How they were able to get a ton of feedback for FYI.
11:04 How Hiten created a lot of value on Product Hunt before launching his own product.
15:49 Things timeline of launching FYI.
3 Key Points:
Anything you do before the launch is part of the launch.
With FYI we had spent a lot of time learning about the problem and figuring out what the right solution for it.
People tend to focus on the vanity of launching a product versus value created.
Steli: Hey everybody, this is Steli Efti.
Hiten: And this is Hiten Shah.
Steli: In today's episode of the Startup Chat we're going to talk about something I've been dying to talk to you about, which is let's talk launching a new product, a new company. You had a really big launch going on recently. You've been building up your launch muscles like crazy over the last few years by launching multiple products, but the latest launch that you had, as far as I could tell, seemed to be the most successful one. You're really onto something here with launching FYI, it's a Chrome extension if you guys don't have it yet make sure to go and search for FYI. A pretty dope product that I'm using. I wanted to just get the freshest, most up-to-date piece of advice from you in terms of how was the launch, lessons learned, things that you guys did really well, things that didn't work anymore if there are any like that, just an updated here are the tips and tricks from a recent example on how to launch something.
Hiten: Absolutely. It's usefyi.com. The reason I'm giving you that is our SEO is not as good as it should be, so if you search for it on Google you might not find it, it's usefyi.com. You can always search for it on Product Hunt, you will find it. We launched this thing on May 22nd, so it was a little bit ago. I've had another launch that we launched on October 23rd, so that was what? Six, seven months before that, another product. Draftsend was the first product, and that was actually the number one product of the day, on October 23rd, it was the number three product of the week back then. It has, right now, 1700 plus uploads, almost 1800, I guess it was 8 months ago. Another interesting fact is that it had 34 reviews that were just ratings and it had seven in-depth reviews that people did. That's the stats for that and I'm going to contrast that to FYI because you said some interesting stuff and I think this is something worthy of jumping into, I haven't really talked about. Then, on FYI it was so far, obviously one's eight months old, this is literally less than a month old right now as we're recording this, is 1139 uploads and it was the number two product of the day, we didn't get any weekly rankings on that one. Here's the interesting thing it had 47 reviews, so it had more reviews, less uploads, but it had 25 detailed reviews, that's 25 versus 7. Now,