You might have heard the term Stage-Gate when discussing product development processes, from idea to product launch. The name comes from one, Dr. Robert Cooper, one of the most influential innovation thought-leaders in the industry. He trademarked the term Stage-Gate and its methodology, which was implemented by almost 80% of North American companies. In his framework, a product's genesis will go through discreet stages until it hits the market with expected high success rate results.
In today's episode, I want to take some time to explain the Stage-Gate methodology in layman's terms and what Robert Coopers' research delivered after observing why some companies are very successful at bringing products to market while others are less so. I discuss the stages of Concept Development and the deliverable 'Gate-Meetings' each product would go through. I discuss the benefits of early concept development and how this is a form of quality control. I also discuss how Stage-Gating will maximize your chances of bringing winning products to market.
"You can think of it almost as a risk management methodology. It's a lot like what a venture capitalist would do. If they were going to invest in a firm, they don't just give the big check right up front, right?" – Paul Heller
This week on Innovation Talks:
- Breaking down the meaning of Stage-Gate in industry
- How a successful company breaks down initial concept development
- The Five-Stage model for product development
- How Stage-Gating is a form of quality control
- Why gatekeepers are critical to the success of a product
- What the Money-Gate means for serious investment
Resources mentioned:
Connect with Paul Heller:
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