“We have to introduce a product with the idea that it’s not going to live forever” – Paul Young
In today’s episode, host Rebecca Kalogeris and Pragmatic instructor, Paul Young, dive deep into a topic that often gets overshadowed by the glitz of product launches: the “sunset” or “end-of-life” phase of a product.
They explore how understanding when to retire a product is as vital as knowing when to introduce one.
Paul explains that every product has a lifecycle and will eventually need to be phased out. The speed of innovation in the technology industry is compressing these lifecycles, making it more critical than ever to have a plan for sunsetting products.
There is no one-size-fits-all indicator for when to sunset a product, but Paul suggests several metrics to monitor. These can range from revenue and cash flow to the efficiencies a product creates or its alignment with a company’s mission.
- Sunsetting a product is not passive; it requires investment and must be prioritized against other business activities.
- Just like a product launch process, there must be a process for its end-of-life.
- Metrics to monitor to know when sunsetting is the best next step.
- End-of-life phases: “end of sale,” “end of support,” and “end of life.”
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