Understanding the Market Space
So you have an amazing idea. GREAT! But what are you up against? Who will be your competition? Who has tried and failed? Why did they fail? This is where a day doing research is worth a week of runway! Save yourself and those that follow some serious heartache. Do your homework!.
Business Models
You have convinced yourself you have a viable business model, but now how are you going to mobilize? Are you going virtual and outsourcing everything? Do you have enough capital to make a manufacturing site? Do you have any idea how much money you need to do either?
Creating the Right Size Quality System
You have a product. You know your path forward. How does your company operate within the regulatory field? What are the next steps? What is the critical path? What size quality system
Taking a Step Back
Who does what you want to do best? How do you replicate it? Can you? Just because you can outsource does it mean you should? How much cost are you going to build into your cost of goods sold? Its not enough to start the journey, you have to have an idea of where you are going. This is where regulated businesses are different than creative ventures. Planning is core. But what tools, what things should you be doing? Here are my thoughts.