So you’re starting a new medical device company! You’ve got technology, IP, a regulatory path, a reimbursement model, an unmet need, a sustainable competitive advantage, a compelling business case and some seed capital. The future is exciting. What else do you need? I’ll tell you what you need. You need to own 10-30% of your […]
Ingvar Kamprad, the founder of Ikea, famously said “An idea without a pricetag has no meaning”. He liked the phrase so much he had it painted on the walls of his stores. I must confess to being annoyed the first time I read this statement. It seemed a crass reduction of ideas to simple commerce. […]
A few months ago year I wrote a blog on the most common causes of getting the product wrong based on the career experiences of our senior staff. I focused on the product definition process. Today I’d like to focus on the implementation and launch parts of the process. As before, it’s a given that entrepreneurial […]
Recently I polled some of our senior development staff about the most common mistakes in product development they have seen. After a bunch of collating and organizing I got the list down to 12 common mistakes. These I grouped into 3 headings: Get the Product Wrong Cut Corners in Implementation Rush to Market As you […]
I was at a meeting a few months ago with a potential client, a startup with 5-10 employees, discussing their medical device. It was a disposables revenue model with injection molded plastic and electronics in a single-use device. As part of our initial product definition discussion I asked what the end user sell price would […]