For innovators seeking commercial success, a means to transform innovation into commercialization is needed. A methodical decision-making process reduces risk by providing timely information to innovator and investor alike. It provides a common language so the route, challenges and specific actions needed to achieve the next step toward commercialization are clear to all parties. Candid and common understanding among diverse interests reduces risk. Reduced risk makes supportive partnerships and funding easier to obtain.
Many tools have been developed to help innovators incorporate methodical decision making processes into their commercialization efforts. All such tools provide the means for diverse innovators and investors to consistently communicate what’s currently known and unknown; and also address the cost to learn what’s needed in order to achieve the next milestone toward successful commercialization.
When an innovator incorporates a milestone-based, decision-making process into their development process it provides a path to transform their vision into a commercial success that others can see as well.