Existing Market.
Step 1: Talk about what you think is what's next in terms of products and services for your venture.
To identify new needs for hospital management systems and then expand the services of this app to assist them in fulfilling these needs. Develop new metrics to help healthcare administrative staff manage their hospital routines and operate as a growing business. Additionally, offer technical solutions to needs of patients in addition to offering them the estimated wait time service.
Gather data on patient to use and input into the application to use in better developing the app. I can also provide a service in the app in which this patient data is captured and then channeled for hospital use.
Gather data on patient to use and input into the application to use in better developing the app. I can also provide a service in the app in which this patient data is captured and then channeled for hospital use.
Step 2: Interview three customers who are already part of the market you have identified, and ask them what they believe is next for a venture like yours. Describe to them your business, and simply ask "What should we be doing that we aren't planning to do?" Next, ask them about your ideas of what customers might want next.
Feedback from interviews (done over phone):
Having an app for the hospital is important but you will need patient information for this to function. So you should provide a way to gather this data using your application service. Develop "what if" scenarios up front and then interview patients to get as much user feedback as possible. Develop the right way to get the app up and running. Not just an ineffective way. Develop effective surveys to get data about user satisfactory, especially from hospitals. Use this as an important selling point when presenting to hospitals, customizing presentation to hospital size.
Feedback from interviews (done over phone):
Having an app for the hospital is important but you will need patient information for this to function. So you should provide a way to gather this data using your application service. Develop "what if" scenarios up front and then interview patients to get as much user feedback as possible. Develop the right way to get the app up and running. Not just an ineffective way. Develop effective surveys to get data about user satisfactory, especially from hospitals. Use this as an important selling point when presenting to hospitals, customizing presentation to hospital size.
Step 3: Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market.
Develop the right to get the app and running. Perform various surveys to gather user experience information. Create an operational discussion/strategy about how we are developing this idea - this has to include a web developer, a marketing and sales team, an executive team. Get a handle on estimate for how much it will cost to develop (financial estimates). Understand the balance between an entrepreneur and a team
Additionally, I would have to build the product and perform analysis consistently. The product may need to get to market quickly, but it should not stop us from building the product service and making sure it fits directly to the existing market. I would have to continuously gather information through surveys but make sure that these services offer quantifiable feedback to measure the effectiveness of the product. The team of people to help support this venture should also be developed, although I may have stick to an idea at first in order to afford it. That's why a financial estimate for pricing comes into play.
New Market.
Additionally, I would have to build the product and perform analysis consistently. The product may need to get to market quickly, but it should not stop us from building the product service and making sure it fits directly to the existing market. I would have to continuously gather information through surveys but make sure that these services offer quantifiable feedback to measure the effectiveness of the product. The team of people to help support this venture should also be developed, although I may have stick to an idea at first in order to afford it. That's why a financial estimate for pricing comes into play.
New Market.
Step 1/2:
The market I've identified are restaurants that has seating that larger and in need of more logistical management. It also has the same need to determine wait time.
Step 3: Interview two people from this new market. Again, describe to each interviewee what your concept is. Then, ask them how they think your business might be help to meet customers like them. What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market?
Product supply for the restaurant would be different than the hospital market. The products that this app would be managing are more accessible day by day, compared to hospital equipment. Food management would be different for the restaurant market as well. In this case this is not a part of the service in the hospital. Also, valet in the restaurant is more important than in hospitals. We can adjust the mix of eat in, deliver, or take out.
Step 4: Reflect, in two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on.
This new market surprisingly has more differences than the hospital market that can be fleshed out through the application's services. I assumed that there would be much more overlap between the markets in terms of what the product could offer. This new market was however just as predictable when it comes to what can be automated by this application in it. It it clear that restaurants have trouble with staffing and have a wait time. It wasn't clear that they need to manage their food supply efficiently and have a way to order food more efficiently. This new market is not as attractive for this venture because although there are more restaurants, hospitals are more apt to use the product and pay more. Restaurants can fulfill this need manually without losing as much time and money. The marginal gain for restaurants are higher.
Product supply for the restaurant would be different than the hospital market. The products that this app would be managing are more accessible day by day, compared to hospital equipment. Food management would be different for the restaurant market as well. In this case this is not a part of the service in the hospital. Also, valet in the restaurant is more important than in hospitals. We can adjust the mix of eat in, deliver, or take out.
Step 4: Reflect, in two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on.
This new market surprisingly has more differences than the hospital market that can be fleshed out through the application's services. I assumed that there would be much more overlap between the markets in terms of what the product could offer. This new market was however just as predictable when it comes to what can be automated by this application in it. It it clear that restaurants have trouble with staffing and have a wait time. It wasn't clear that they need to manage their food supply efficiently and have a way to order food more efficiently. This new market is not as attractive for this venture because although there are more restaurants, hospitals are more apt to use the product and pay more. Restaurants can fulfill this need manually without losing as much time and money. The marginal gain for restaurants are higher.
Tyler,
ReplyDeleteI think it's great that you're tackling an issue within healthcare. During these current times, it is important that we find ways to make healthcare more efficient and accessible. Data collection and analysis is also a growing industry and field in the US.