Initial Idea Stage
The Initial Idea Stage is important to identify real needs that can generate a product for commercialization
Why is this Important?: You need people who understand the business and can interact with others to validate your assumptions. This also is the time to come to key understandings between the principal players.
| Key Actions | Things to Consider | Tool Kit |
|---|---|---|
| Define whether or not the product or service Idea is needed | If you solve this problem – can a product idea be generated from the need? Is it compelling?
Revolutionary ideas are far more likely to be successful than evolutionary ones Can you ID a customer that needs this idea? Continue to come back to this as you advance through the steps – is it still viable? An idea can come from many sources, such as:
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Stanford BIO Design |
| Determine whether you are willing to take the Idea to the next step | It is all right if the Idea does not pan out!
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