Introduction
Thomas Edison said, “Anything that won’t sell, I don’t want to invent.” Identifying the significance of pain points in products and processes is incredibly valuable in the creation of viable solutions. As critical as the pain point identification is, the subsequent step is just as important. Finding an effective way to resolve pain points at a price the customers are happy to pay will dramatically improve successful product adoption.
Whether it’s a simple improvement or a disruptive technology, there are many questions to consider. Is it marketable? Who benefits? Would they buy it? How do I protect it? What is a reasonable minimal viable product that will set the idea up for success? What are the steps and how long will it take to make that product a reality?
For some, providing guidance on how to start the process is the most valuable service partners, like J.C. Innovations, can provide. For others, it’s the process of mapping the necessary steps and offering support as applicable based on the customer’s proficiency at developing and commercializing products. Regardless, there are key aspects of product development that warrant consideration.
Documentation, idea protection, optimal product development strategies, and methods to promote and sell the idea are essential aspects to consider before you begin this journey. J.C. Innovations can support any of these aspects based on your need. Below we will discuss the first one.
Write it down
Documentation is often considered a secondary artifact to ideation and product development. Many innovators expect the verbal description of an idea to be sufficient to pursuing the solution. Though their expertise in the area of innovation can’t be disputed and the proposed idea needs to fall within the parameters of the expert, the trick is translating the parameters into engineering requirements that will drive design activities. What is needed is the ability to clearly communicate the idea in a manner that will result in a physical embodiment, a method of protecting the idea so that the invested time and money isn’t wasted, and consideration of alternative embodiments, risks, and testing.
The first step of this process should be to put pen to paper. Draw a sketch. Write a description. Make sure that the content is dated. If there are others who have the same pain point as the expert, identify them. If the number of times a pain point is experienced during a surgery or day or month, is known, identify it. If there are existing solutions to the problem but they aren’t working well, identify them. The upfront work of defining and documenting the pain point and its potential solutions will pay dividends down the road.
If the goal of developing the idea is to sell it to a company, companies pay more for ideas that have greater maturity. If the goal is to commercialize and sell the product, documentation is critical to passing the potential scrutiny of regulatory reviewers. Robust documentation and proper planning have proven to be the lynch pin between products that meet their financial and launch objectives and those that cost more and take longer than anticipated.
There is a cost benefit analysis that needs to be performed when seeking a solution quickly versus investing more time in a product that has better features and function. An experienced product developer can be extremely helpful in optimizing the product development process to achieve the maximum return for the time and money invested.
J.C. Innovations can help. We are experienced product developers and we are happy to discuss your needs. Reach out to learn more.