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.
"By and large the concept of Stages and Gates is always there. It's just the deliverables, the gatekeepers, the way the decisions are made; they become unique to each company." – Paul Heller
"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
"That methodology took a lot of risk out of these products and would identify the products early on that were less likely to succeed in order to make it really work well." – Paul Heller
"Your gatekeepers are a critical role. They need to be people who from the cross-functional parts of your company are going to try to make the business decision to go to the next stage. And they're going to base that on intuition. They're going to base that on experience." – Paul Heller
This week on Innovative Talks:"You're not just bringing products to market, but you're filtering and bringing the winning products to market. And that's what the Stage-Gate® system was all about." – Paul Heller
- 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
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