This will help in your product design and the level of prototype that is required to be able to test your product to the level that satisfies the user needs and validate it. Once you have settled on a user need, is time to start looking into the business viability. Business viability refers to the ability of your solution to attract sufficient funds to get to the market and help the users to solve their unmet need. We will first cover what is business viability and then focus on what investors value. Is important to make sure that you start understanding the business viability of your solution as soon as you settle in an unmet need to avoid spending time if your solution will not reach the market. Contents INTRODUCTION ............................................................................................................................................. 1 ...................................................................................................................................................................... 1 1. WHAT IS AN UNMET NEED.................................................................................................................... 3 2. CYCLE OF CARE: PATIENT JOURNEY ...................................................................................................... 3 3. STAKEHOLDERS (Based on a lecture by Andrew DiMeo) ..................................................................... 5 4. CONDUCTING CUSTOMER INTERVIEWS ............................................................................................... 6 5. NEED STATEMENT DEVELOPMENT (Based on a lecture by Andrew DiMeo)....................................... 8 ...................................................................................................................................................................... 8 6. CRAFTING UNMET NEED STATEMENT .................................................................................................. 9 6. VALUE PROPOSTION AND KEY PRODUCT ATTRIBUTES (Based on a lecture by Manuel Kingsley) ....11 8. PRODUCT DESIGN PROTOTYPING (Based on a lecture by Andrew DiMeo)....................................... 12 9. BUSINESS VIABILITY ............................................................................................................................ 14 10. WHAT INVESTORS VALUE ............................................................................................................... 15
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