Lesson 1: Focus on important unmet needs and who pays.
The #1 reason new businesses fail is that not enough people buy the solution at the price offered. It could be that there is no real need, the need is met other ways, the buyer sees no value, or some combination of the three. Most established companies understand this and spend significant time and money doing market research before even starting a development effort. Similarly, successful entrepreneurs focus on understanding user needs and the economic buyer’s incentive to purchase before developing or refining their solution.
Share Your Insight
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Faculty and fellows from the Stanford Biodesign program explain how needs screening works
and share pointers for navigating this stage of the biodesign innovation process.
Faculty and fellows from the Stanford Biodesign program describe the importance of needs
finding and what innovators should expect as they undertake this stage of the biodesign innovation
Ideation in Medical Device Development:
Finding Clinical Needs
This presentation focuses on:
- Decreasing failure by finding and developing a compelling need.
- Understanding needs - finding and screening.
- Selecting meaningful projects for entrepreneurial effort.
- Sharing examples of needs and need statements.
- Beginning a paradigm shift from technology push to need pull.