Three Wise Dames

Marketing in the Life Science Industry

The Staircase to Nearly Nowhere March 23, 2012

Filed under: Lisa,Market Planning,Products — Lisa Pohmajevich @ 10:15 pm
Tags: , , , ,

Photo courtesy of Winchester Mystery House

Nowhere on my ‘bucket list’ is the must-do of building anything. However, I am hip deep in a construction project. This activity provided the opportunity to learn new things. Many of which I didn’t know I needed to learn, nor do I know at present, how to make all of the learning’s useful. I am sure it is simply a matter of time before it becomes clear.

Do it right the first time

My father is an engineer and from the school of ‘do it right the first time’ philosophy. ‘It’s all in the planning’ he told me. When repairing or constructing something at home, he spent more time thinking and calculating and planning and documenting than actually doing.  I’ve come to realize that approach saves countless mistakes while steering a direct course to a goal.

Step vs. Leap

Apparently the universe was keen on me taking this tenent to heart.  Recently, I received a call from my contractor about a staircase in my construction project. He asked about my height and athleticism, a curious question I thought. He wanted to confirm my ability to leap upwards and successfully reach the landing sixteen inches above the last step. I asked him why I would need to do that, never mind my abilities.

It happens that the plans included miscalculations resulting in a gap of approximately eleven inches from the top of the last step and the landing. This meant there was not enough space to add the two steps needed to reach the landing. Additionally, the gap provided a straight shot to the floor below – fourteen feet down! He assured me that as long as I could leap and make the landing above, he would continue building per the plan.

 Five steps of planning

This ‘do it right the first time’philosophy is particularly important when introducing a new product to the market, especially important if the product is the first for a company.  I’ve learned there are five key principles that must be included in the planning of new product development if success is the intended goal.  The five principles I’ve learned to include in development planning are:

  1. Economics are as indispensable as ergonomics.
  2. The payer is as essential as the provider.
  3. The patient is as influential as the physician.
  4. Integration is as important as ingenuity.
  5. Outcome is as significant as opportunity.

Using these principles as the guiding framework in the development of a new medical device can facilitate making the leap into the market, without missing a step. 

Stay tuned for more detail on the principles, in posts to follow.

(C) 2012 pH Consulting. All rights reserved.

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