Medical Device Start-up Advice
Congratulations! You have a great idea for a new product! Now, do you have the tenacity to drive it home? Being in the contract manufacturing business for medical device and start-ups, I am fortunate to routinely review many new product ideas with clients. Confidentiality Agreements, of course, prohibit sharing specific products and success stories; however, I would like to offer direction for newcomers bringing products to market based on my experience.
It is an ongoing frustration for inventors and all parties involved when incredible potential products fail to launch. Almost always--90% of the time--product failure is due to poor planning. If you are an engineer, inventor, investor, entrepreneur or simply a winner with an idea, please take the following advice into consideration before you spend another minute or dollar on your product. Your quest will be easier. You will have credibility as you gather information and partners. People and businesses will take you seriously and work harder for you when they perceive that you have done your homework. The efficiency of "trust" between all parties plays a major factor when moving forward as a team...Read More
