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Tuesday, February 23 2010 Creo Quality presents The Catalyst In this Issue
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Get Your Prototype in the Hands of Users ASAP I was in a meeting today for an early-stage medical device company. We were presenting the product and proposed project to potential investors. The product concept is simple, yet in my opinion has a significant market opportunity. During today’s meeting, there was an interesting revelation: Why not put a few of the original products into use? Find a couple of hospitals, doctor’s offices, etc. who would be willing to use the device and provide feedback on the performance and become an integral part of the product development process. It makes perfect sense -- Do everything you can to get prototypes in the hands of actual users as soon as you can for the fewest dollars possible. CONNECT: Life Sciences In & Around Indiana
A Case Study from Scott Durlacher 
How Do You Define Sustainability? I was approached by a young entrepreneur that had recently started a computer repair business. The business was differentiating itself from the other numerous competitive organizations/ individuals in the community by stressing its quality of service, fast turnaround time, and attractive pricing. Unfortunately the business was struggling and therefore I offered to assist for free to see if it could get pointed in the right direction. Based on an initial consult, it became apparent that the business needed greater focus. They were trying to be all things to all people and capture a share in markets that were already being effectively served by the existing organizations/individuals. The suggestion was made that they target a demographic that was not currently being marketed to by others since this was the lowest hanging fruit. At first management was lukewarm to the idea, but eventually came around. The next challenge was figuring an effective way of marketing to this group. Based on our work experience and network, we were able to suggest a marketing approach that another individual had considered when trying to reach what he viewed as his demographic. This approach seemed particularly well suited for the computer repair business and was therefore implemented. According to management, within 2-3 weeks of launching the marketing campaign the volume of work had increased significantly and in fact was reaching a point in which 1-2 new people might need to be hired/contracted to assist with getting all the work completed. It is still early and thus remains to be seen whether this can be sustained; however, the point of this case study is to show the impact that just a couple hours spent with an entrepreneur or organization can make. |
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