How to Charge Ahead While in a Holding Pattern

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Entrepreneur and Investor; CTO, Unfettered Socks
3 min read
Opinions expressed by Entrepreneur contributors are their own.

As entrepreneurs, we're just not wired to wait. As people who are always looking forward and always starting something new, it feels unnatural to have to sit back on our laurels for a long period of time.

This sort of holding pattern often happens in situations we can't control, such as waiting on vendors, partners or customers to act. As the co-founder of GoodFoot, a line of performance-focused socks, I have often witnessed this in the retail space. When you're waiting for a product to be manufactured, there is a long period of silence. It's frustrating, and it feels like an eternity. But, it's important to make the most of that time. If anything, treat that time as a gift; 30, 60 or 90 uninterrupted days of planning, strategizing and getting all your ducks in a row.

Related: Outsourcing Your Production? Here Are 3 Ways to Save Money.

Instead of twiddling your thumbs, here's how to charge ahead while in a holding pattern:

Create an action plan

Make a list of everything that must get done prior to launch day in order to have a successful and impactful launch. Design and bug check your website; get your social media and digital marketing plan set up and budgeted for; put systems in place for customer communication; retention and loyalty; write several blog posts in advance that can be paced out over time; select your shipping service; design and print any materials that will be shipped alongside your product.

Utilize team meetings

Schedule weekly follow-ups for team accountability to make sure all members are hitting deadlines and are on track for an on-time launch. Keep these short and efficient by asking each person to come to the meeting prepared with an update and with any asks they have of the other members. 

Continue to learn

Reach out to your network for advice on how to optimize your product launch. Read everything you can get your hands on regarding your industry, successful product launches, marketing and pricing, among other steps. Question everything. Now is the time to work out the kinks and solve problems. 

Related: The 3 Biggest Roadblocks in Product Development

Prepare a launch day schedule

Since you've done all the heavy lifting prior to launch, make sure nothing falls through the cracks on launch day. Make a list of all systems that are set to go live so that you can press all the necessary buttons when the day finally arrives. Chances are you will be so excited to launch that you'll forget things if you don't plan for it in advance. 

Think about the next design launch

As I mentioned in my last post, product cycles are often longer than you initially budget for. Use this waiting period to be thinking forward to your next design cycle. Waiting on your holiday products? Start innovating and getting prototypes made for next summer's line. It's never too early to start planning, especially when you're waiting on vendors to manufacture the products.

The trick to an optimized waiting period is staying organized. Organization ensures that nothing slips through the cracks, and it keeps you and your team from becoming restless. Even though none of us are used to waiting, these five steps will ensure a productive holding pattern for you and your startup. 

Related: 3 Things You Need to Know About Launching a Product Business

More from Entrepreneur

We created the SYOB course to help you get started on your entrepreneurial journey. You can now sign up for just $99, plus receive a 7-day free trial. Just use promo code SYOB99 to claim your offer.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur