Which new idea should you invest in? What’s the right value proposition for your portfolio? How should you position your game-changing product for a winning launch?
These are significant questions that if not answered correctly, can cost you a lot of time, money, and trust. Here’s the “sandwich” approach we use to help med device and other health tech clients avoid making risky moves based on unspoken assumptions.
The Bottom Slice: Identify your high-risk assumptions. Gather your team together for a hard-hitting work session, with all egos aside. Set the expectation that you’re going to identify the key assumptions that must be validated because they’re so mission critical that if you’re wrong, you’re, well, screwed. Here’s how in detail.
The Filling in the Middle: Validate your assumptions. Do the needed research with customers to determine which of your assumptions were on target, and which need correcting. To get the most from your investment, focus on your top priority, highest-risk assumptions.
The Top Slice: Refine Your thinking. Bring your team back together. Review the assumptions you had earlier identified as high-risk and in need of validation. Consider the customer research results by noting which assumptions were right on target, which would need fine-tuning, and which were way off base. No shame, no blame. Now refine your thinking based on what your learned.
This “sandwich” approach works because 1) it gives team members much needed permission to not know everything, 2) it acknowledges that customers can provide many answers, and 3) it lets your team refine their thinking together and get on the same page.
Most important, the “sandwich” approach efficiently and effectively helps you avoid assumptions and wisely answer the tough questions that can spell the difference between success and failure.