Startup Funding Espresso – Product Development Using Stage-Gate

Product Development Using Stage-Gate Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Startups can use the Stage-Gate method to build out their product development process. Here are the steps: Idea generation -- use brainstorming, market research, and other tools to come up with ideas. Idea screening -- create a set of criteria to judge the ideas and determine what to pursue. Development and testing -- flesh out the concept for an idea and test the market with it. Business analytics -- this step determines the business model, competition, costs to build and deploy, pricing, and other aspects of the product. Marketability tests -- test the product in small groups for feedback and use for further development. Product development -- build the product including the promotion and fulfillment. Commercialization -- sell the product with support, logistics, marketing, and more. Perfect the product and pricing -- adjust the price for the market and costs to build and deliver. The Stage-Gate process works well for products that follow a linear development path. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let's go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Investors check out: https://tencapital.group/investor-landing/ For Startups check out: https://tencapital.group/company-landing/ For eGuides check out: https://tencapital.group/education/ For upcoming Events, check out https://tencapital.group/events/ For Feedback please contact [email protected] Please follow, share, and leave a review. Music courtesy of Bensound.