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LA NPDT's New Product Development Process Map Brochure

LA NPDT’s New Product Development Process Map Brochure

 

Product Development Process Map

At LA NPDT, we turn your idea into a tangible product that benefits your bottom line. Our new product development process includes concept development, prototyping, testing, and product to market transition (commercialization).

Licensing vs. Launching a Business

A critical decision when embarking on the invention process is whether you should independently operate the business or license the idea to an established company or manufacturer.

  • Going into business by yourself requires a greater commitment and tolerance for risk with the promise of greater rewards.
  • Licensing an invention minimizes risk and financial return.

This decision requires three primary considerations:

  • What are your goals?
  • Do you have all the resources needed?
  • Your tolerance for risk and expectation for rewards

Act on Your Ideas!

Taking a product from concept to market requires time, energy, and money. If successful, the financial and personal gratification can be well worth the effort. Consulting with experts is a good idea, but ultimately, only you can decide which commercialization strategy will work for you. Consider and analyze each option carefully. Check this article to learn more about licensing vs. launching a business. Whatever you do, don’t wait. The clock is ticking, and you can’t turn back time. Instead of allowing this brilliant idea to get lost among the abandoned others, develop your plan and take action. Only you can make this happen. You miss 100% of the shots you don’t take.

Our Approach

Our Scrum-based product development process is based on the cross-functional collaboration of our highly educated and trained multi-disciplinary team. We split the projects into “bite-size” pieces, prioritize them, and tackle them one by one. Getting customer feedback during the process allows us to deliver the best possible result, often exceeding the expectations. By continuously optimizing our internal communication and project management skills we achieve exceptional productivity and efficiency. Scrum has been proven to be successful for a variety of product categories ranging from consumer electronics to medical devices. Providing turnkey product development while increasing the value of your product or business idea, is the ultimate goal of our work and we are dedicated to making the process as easy as possible for our clients.

 

 

 

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