In this playbook, we'll lay out the importance of effective risk management, especially during the early stages, and share some strategies for overcoming unexpected hurdles along the way.
Key Lessons From This Playbook
- Tackle technical risks first: Early prototyping and iteration helps ensure product-market fit and stakeholder confidence.
- Embrace failures as growth opportunities: When you adopt the right framework, your mistakes won’t be catastrophic. Instead, fail forward and view mistakes as stepping stones towards progress.
- Prioritize safety and efficacy early on: You should prove your device’s safety and efficacy before anything else. Small, targeted clinical trials can help verify product performance and prevent you from building on loose soil.
- Leverage scientific breakthroughs: Utilize unique research inflection points as a means to demonstrate unmet needs versus merely responding to known gaps in the market.