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  • ☕️ 6 reasons why you shouldn’t rush your launch… 

☕️ 6 reasons why you shouldn’t rush your launch… 

Plus: The secret to retaining top talent...

Today’s Tech Creator is 1079 words, a 4-minute read ☕️!

In this edition, we’re looking at why it’s better to take your product launch slow, how to manage your stakeholders in a crisis, and the secret to retaining top employees.


Why a slow and steady launch approach wins the race

In the fast-paced world of startups, the temptation to rush to market can be strong. However, taking a measured and deliberate approach to launching can often yield better long-term results. 

Here are six compelling reasons why you should consider a slow and steady launch strategy:

  1. Mastering network effects: Nailing the user experience from day one is crucial for products that thrive on network effects. A well-designed onboarding process and seamless performance can foster user trust and virality.

  2. Enterprise customer readiness: When targeting enterprise clients, delivering a polished product that meets their high expectations is paramount. A rushed launch could jeopardize lucrative deals and save valuable time and effort.

  3. Navigating regulatory complexities: Highly regulated industries demand meticulous attention to compliance. A measured launch allows for thorough vetting and adherence to relevant regulations.

  4. Refining market fit: By taking the time to deeply understand user motivations and behaviors, founders can fine-tune their products to achieve better market fit and traction.

  5. Minimizing technical debt: A slower launch roadmap provides more opportunities to identify and address potential technical issues, reducing the accumulation of technical debt that could hinder future growth.

  6. Building credibility: A well-executed launch can establish a startup's reputation for quality and reliability, setting the stage for long-term success and customer loyalty.

Remember, while the allure of a rapid launch can be tempting, a patient and strategic approach can often yield better long-term rewards for you and your startups.


What nobody tells you about retaining employees

Finding and hiring a top employee is a blessing, but the big question is: can you retain them? That’s a formidable challenge, one that requires a strategic and proactive approach.

 Here are four potent strategies to help you keep your top talent from walking out the door:

  1. Align on expectations before they start: New hires evaluate their decision to join your company from Day 1. Harvard Business Review reports that 17% of new hires quit within their first 3 months because their job doesn’t match their expectations. Be candid during interviews and in onboarding materials to ensure new employees understand what they’re signing up for.

  2. Understand and manage your team: Managing is part of a founder's job. Develop your unique style, but understand your team. Management is more about reading your team's feelings and desires than about imposing your own. Ben Horowitz’s talk on management is a great resource, but tailor your approach to fit your personality and team.

  3. Take feedback as well as you give it: Set an example by being open to feedback. Your team will mirror your attitude. A founder who actively seeks and values feedback fosters a culture where everyone’s input is appreciated.

  4. Leave them better than you found them: Invest in your team’s development and growth. Aim to enhance their skills and career prospects during their time with your company. A culture that values continuous improvement and personal development will keep top talent engaged and committed.

It’s important to remember that employees aren’t robots. If you communicate and manage your employees well, they will be more inclined to stay, because a positive and nurturing working environment is key to employee retention.


How to handle stakeholders in crisis management

As a founder, the most important part about managing a crisis is your psychology. Crises move quickly, and full context is often lacking for everyone else, making it imperative to manage communication efficiently.

When a crisis strikes, each group demands attention and deft handling. Here’s a guide on how to handle each shareholder:

  • Co-founders: In the eye of the storm, your co-founder(s) are your closest allies. Operate with high trust, communicate clearly, and divide responsibilities effectively. This relationship is the bedrock of your crisis response; if it deteriorates, your company’s stability could be at risk.

  • Investors and board: A crisis is a litmus test for investors, revealing their genuine priorities. Some will prioritize your startup's success, while others may be more concerned about their reputations. Maintain transparent communication and leverage their resources judiciously, but be prepared for varying levels of support.

  • Your team: Neglecting your team during a crisis is a costly mistake. Proactive, transparent communication and public displays of support can help maintain morale and prevent fractures. Remember, they are the ones who answer to their families and friends. Some team members might struggle, but engaging with them can make a big difference.

  • Legal counsel: Lawyers usually play it safe, advising caution. Their input is important, but balance it with the need to keep public confidence. Use their advice strategically, not blindly.

  • Users: User reactions can be all over the place. Keep them informed and manage the story through the press. Sam Altman did this well during the OpenAI crisis, reassuring users about product stability while focusing on his team.

  • The Press and PR: Dealing with the press takes skill. Share enough information to guide the narrative, but avoid oversharing. Building momentum through strategic leaks and maintaining control of the story is key to swaying public opinion in your favor.

By steering the narrative and maintaining trust, you can navigate tough times successfully. Sam Altman’s handling of the OpenAI situation showed these principles in action. 

A founder's ability to deftly manage these stakeholder relationships can mean the difference between weathering the storm and capsizing.


Everything you need to know today

That brings us to the end of this week’s edition. We hope you’ve had some key takeaways and news to keep you fuelled for the week ahead. 

We’ll see you again next week, same time, same place!