Key Lessons from this Playbook
Look at the world through collaborative lenses: Try to build an infrastructure for collaboration and a model for sharing risks and rewards that can generate long-term value for all parties.
Lean startup is the way: A minimalist approach lets you manage cash more effectively, respond agilely, and prioritize key milestones, like human trials.
Assemble a go-getter team: Gather a team who has the subject matter expertise, passionate about the project, and willing to go the extra mile, even if it falls outside their job title.
Don’t overlook lived experience: Consider including members of your target audience on your board. Their opinions are the ones based on real real-world-data.
Find alternative ways to validate: Partner with different industry players that can benefit from your device and help generate data, validation, or simply an alternative means of revenue in return.
Leverage sales insights: Sales representatives often have direct experience with a product's real-life applications. This can be beneficial in early-stage development as well as ensuring the commercial viability of your strategy.