As an entrepreneur, it’s easy to fall into the trap of obsessing over creating the perfect product before launching. After all, who wants to risk putting something less-than-perfect into the market? The desire to ensure your product is flawless can feel like a smart move—until it isn’t. As Jog Bondoc, a Registered Financial Planner, explains, striving for perfection can actually set you back. “Many entrepreneurs pour all their energy and resources into perfecting the product, but they fail to realize that feedback from actual users is the true key to refining their business,” Bondoc says, as told to Financial Adviser PH.
In the fast-paced world of startups, waiting for the “perfect” product before releasing it to the market can waste precious time—and cost money. Instead of spending months (or even years) tweaking every detail, a better strategy is to launch an early, simplified version of your product, often referred to as a minimum viable product (MVP). This enables you to get your product in front of customers quickly and gather invaluable feedback that can guide the next steps in product development.
“The best way to validate if your product is something the market would buy is to create a smaller version of it and feed it to your market for real-time feedback,” Bondoc shares. This approach provides real, actionable insights and allows you to make data-driven decisions. By introducing a simpler version of your product, you avoid the risk of sinking too much time and capital into an idea that may not resonate with your target market.
Bondoc’s advice is clear: start small, iterate quickly. Rather than spending months perfecting every feature, get your product into the hands of real customers as soon as possible. Their feedback will tell you what works and what doesn’t, helping you pivot and adjust before you commit major resources.
Ultimately, perfection can be the enemy of progress. In today’s market, it’s not about waiting for the perfect product—it’s about launching, learning, and evolving. The sooner you start, the faster you can refine your offering and meet the needs of your market.
