Conducting user testing on the prototype is a critical step in the process. User testing involves testing a prototype with a group of target customers and gathering feedback about their experience with the product. Businesses can use various methods such as surveys, focus groups, or individual interviews to analyze user feedback and make necessary changes. Rapid prototyping is essential for successful customer needs validation, as it involves repeating the process of creating a prototype, testing it with customers, analyzing their feedback, and making necessary changes until the final product meets the needs of the customers. Advanced rapid prototyping techniques can be used to validate customer needs more effectively, such as virtual prototyping and additive manufacturing. Additive manufacturing allows businesses to create complex designs quickly and cost- effectively and test them with customers before investing in the final product. Rapid prototyping is an effective method for validating customer needs and ensuring that the final product meets those needs. Businesses should use advanced rapid prototyping techniques and tools and resources to identify potential issues early in the product development process, save time and money, and ensure that the final product meets the needs of the customers.
9. BUSINESS VIABILITY
5 Min.
30 Min.
Once you have uncovered an unmet need, you then need to determine if you have a viable business. Can you raise the necessary funds to get your solution to the market? Raising the necessary funds means understanding what is important for investors and what is the state of the healthcare industry. For example, will your product be reimbursed, or do you need to establish a reimbursement? First is business viable. You need to understand the vision of your business and what is the market size for your solution. This is also a point where you need to do a gut check. Are you an entrepreneur willing to work tirelessly to get your solution to market? Or are you employed at a university and not able/willing to give up your job to start a company? Being an entrepreneur requires a lot of sacrifice and is not a part-time endeavor. If you don ’ t wish to give up your current role, your best route to get your solution to the market might be to license your technology.
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