i3 - May/June 2020 - 41

Business

60%

products that your comand often engineering or
or more of
product development will
new products pany can execute is far
important as only
feel that other disciplines
don't survive more
the execution will result
in the company may not
each year
in success. Again, we have
understand or buy in. That
after being
seen many good ideas
is certainly true, but if we
introduced.
taken up after failure by
cannot convince our own
one firm to rise to success
departments, how will we
with another. This is due
convince our partners and
to good fit and efficient execution.
customers? This may slow things down
We suggest that you put in place a
but it's a key part of the process. Despite
process from the beginning that forces
how hard the engineering and design
work is, so is the selling, marketing, pro- each company discipline to review new
product proposals. This should include
duction, logistics, and distribution of
their review of the total available marproducts and services.
ket, the proposed volumes, pricing and
Steve Jobs famously spoke about how
margins, marketing plan, trade partmany good ideas and products were
ners, logistics, and other costs and
killed before Apple ever proceeded with
returns. It may be an argument, but if
them. This is a great insight as not all
the team can agree, the success rate will
products and services are good for every
rise and so will buy in from the team as
firm to pursue if they do not have the
execution improves. There are many
assets in place to do so. Making

models for this process, so the specific
details are less important than getting
commitments from each discipline as
well as informed points of view.
This requires leadership and insight to
drive the process. It is so core to success
that it cannot be left to others and simply
reviewed. It is leadership that is needed
to ensure a real review and a solid commitment, but an improved "batting average" will have such a great impact it is
well worth the effort. Just review the
sunk costs for products that have failed
to meet the projected sales and returns
- a very large line item indeed.
At bluesalve partners, we have an
active product development process we
can share with clients to accelerate and
improve their batting average. Better
outcomes are good for everyone, the
firms, the industry, and their customers.
Let's all get better together.

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executives and small companies with revenues under $30 million,
as well as innovative startups.
If your company, executive or startup deserves recognition, please
nominate them at CTA.tech/events. Honorees will be recognized
at CTA's Hall of Fame dinner November 11 in New York City.

NOMINATIONS CLOSE JUNE 15, 2020.

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i3 - May/June 2020

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