Why Product Fail before getting to Growth Phase
Share
Nigerian businesses are great at launching innovative products—just like in other parts of Africa. But here’s the catch: many of them struggle with customer service and overall service delivery.
I’ve been an early adopter of several exciting products—fintech apps, energy solutions, internet services—you name it. At first, everything seems to run smoothly 🚀. But as soon as the product gains traction and the user base grows, things start falling apart.
So, what’s the problem? A lack of planning for growth. 🛑
📉 Areas Where Growth Planning Falls Short
1. Resource Expansion
One of the biggest mistakes businesses make is not growing their team as demand increases. Instead of hiring more hands to keep up, they keep stretching a small team to serve a huge customer base—all in the name of preserving profit margins. 💰
Sure, this keeps costs low at first—but in the long run? It leads to burnout, poor service, and frustrated customers. 😤
Scaling, however, is a double-edged sword ⚔️. Take global companies for example—during COVID-19, FAANG companies hired aggressively to meet increased demand 📈. But once things settled, they had to lay off staff. This shows that businesses must scale wisely, balancing growth and long-term sustainability.
2. Infrastructure;
This is another area where businesses drop the ball. Even with limited funds, there are smart ways to improve infrastructure and enhance service quality.
It’s not always about spending more—it’s about making strategic tech decisions to ensure users get the best experience with the available tools. 🛠️
🎯How I’d Plan for Growth Differently
If I were launching a product, I’d break my growth plan into three key stages:
1. Realistic Growth Plan 📊
- ✅ Set a realistic growth target (e.g., from 10 to 50 users).
✅ Budget for expansion ahead of time and set aside funds—untouchable until needed. 🔐
✅ Avoid scrambling for resources when demand skyrockets. 🚀
2. Optimistic Growth Plan 🔥
- ✅ Take your original growth estimate and scale it by 500%.
✅ If your realistic plan is to grow from 10 to 50 users, your optimistic plan should prepare for up to 250 users. 📈
✅ This ensures you’re ready for sudden expansion, which is crucial when seeking funding or investment. 💰
✅ But! Back it up with real data—your investors will ask why. 📊
3. Potential Stage 🤷🏽♂️
- ✅ This is the "What if things don’t go as planned?" phase.
✅ No one wants to be stuck in potential mode forever, but you need a plan for slow growth. 🐢
✅ Instead of wasting resources on a product that won’t scale, test the market first with an MVP before going all in. 🎯
Final Thoughts
Growth isn’t just about having a great product—it’s about being prepared for what comes next.
Without the right team, tech, and strategy, even the best ideas can collapse under their own success. 😬
So, the lesson is simple: Plan wisely, scale smartly, and watch your business thrive! 🚀🔥