Head of New Projects at Profilans Group
Projects and products have a life cycle, and it is not always long and successful. Regardless of the reasons, be it product obsolescence, changes in the market or mistakes made at the launch stage, at some point the management may decide to close the project.
How can this be done as painlessly as possible for the company, its employees and clients? How can a smooth transition be ensured and reputation preserved? What steps should be taken to minimize damage? Elena Kolpakova, Head of New Projects in the IT Ecosystem at Profilans Group, provides a step-by-step guide to the painless liquidation of unprofitable projects.
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Step 1. Making a decision to close the project
Closing your own project is a difficult step, which is always difficult to decide on. In our company, the initiative usually comes from the team. Yes, from the team, which risks being left without belgium phone number lead work, but sees an objective picture of the project's vague future better than the founder or the board of directors.
Among the reasons that most often put an end to a project, there are two:
The project is scaling the loss , and no matter how hard the team tries, there is no reason to continue working on the project. Simply put, the team tried everything to "change the plus to the minus", but the economics never started to converge.
For example, the main reason for the closure of the Turbo Assistant project was the huge costs of payroll and marketing with relatively small revenue, which for 1.5 years was not able to cover the operating costs of the project.
Force majeure risks have arisen, which we include loss of access to resources used in the project, the inability to operate in certain geographic areas, etc.
Thus, in March 2022, we closed the Studenterra project, an analogue of our student assistance platform “Vse Sdal!” for the American market. Geopolitical factors were added to the difficulties with payments and attraction channels. It was not possible to develop the project further while being in Russia.
Лайфхаки для успешного старта карьеры в новом году!
Марафон бодрых лимонов от Школы Карьерного Менеджмента. Заряд энергии для HR.
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