Insight Presented “What’s your Next’" at Wireless Life Science Alliance Commercialization Day
May 21, 2010 – A simple question, but a myriad of complicated answers. “What’s your next?“ Ross Teague, Ph.D. and Ed Geiselhart of Insight asked a group of 170 people at Commercialization Day at the Wireless Life Science Alliance annual meeting.
Teague and Geiselhart opened their talk with this question and segued into strategies and important considerations for how to effectively navigate the process of determining what development initiatives to move forward with relative to the company’s current state.
The presenters discussed the dangers of holding up solutions from other industries as a means of defining development objectives, as in many cases, the meaning behind why someone might do so is many times not clearly defined, and can lead to disappointing results and failures.
“The iPod is killing innovation,“ said Teague, meaning that many companies want to develop the iPod for their industry, when often times a small change such as entering a new market or moving forward with a next generation product is all that is needed to increase the value of the brand and increase profitability.
The presenters asked the audience to really think about what their next should be and gave them worksheets to fill out to aid in the thought process and encouraged them to consider all of their stakeholders beyond the most obvious.
“A next can be many different things. It is important to consider yours carefully and deliberately to make the best decision for your organization,“ said Geiselhart.
In addition to the presentation, Geiselhart participated in the panel “Sleep Disorders...Prescribe or Subscribe?“ and debated the pros and cons of launching products via the direct-to-consumer route versus the prescriptive route. Geiselhart’s experience designing a patient CPAP device gave him perspective on the issue.
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