Brief.Market Readiness
Green Room Technologies
Turning Good Ideas into Good Business.
Green Room specializes in business, market and technology readiness
Our clients are health tech companies with medical device and software products
Our services enhance innovation, interoperability, growth and investment potential
Market Readiness Brief:
Business Viability in Health Technology
Not all good ideas become good businesses. There are many healthcare-specific factors at play. Green Room Technologies leverages extensive experience in health technology, business, data and interoperability to help our clients assess and achieve business viability.
Green Room’s services include business viability, market and technology readiness assessments; strategies for de-risking product-market acceptance, and leveraging standards innovation and interoperability.
What is Market Readiness?
Green Room assists in identifying the path from concept to scale. Steps include Market Definition, Entry, Acceptance, and Growth. Important components that may not be obvious to early stage technology innovators include the 3-part value proposition and gaps that often exist between product validation and market acceptance.
You have to meet the market where it lives before you can create meaningful innovation. You have to be aware that the user, buyer, and beneficiary are generally three different entities in healthcare. And you have to be aware of the Killer C’s of market acceptance: Cost, Complexity, and Change.
Market Assessment and Research
Our product-market assessment and accompanying market research surfaces the insights you need to determine strategic partners, perform proof of concept demonstrations, and identify the most likely target market for entry and growth.
Market Readiness starts with a detailed assessment of current status in major areas that drive opportunity for success. Before you go to market you must meet these criteria:
- Product is ready for market
- Data sources and uses contribute to business viability
- Business model, how you make money, is validated
We help identify areas where additional work is needed to enhance the probability of market success and to map a plan to address these uncovered gaps.
- Define the path to demonstrate market readiness
- Map and achieve the proof points
- Tie market readiness milestones to funding and capitalization
True Market Readiness
In the end, the only true definition of market readiness that matters is that someone sees enough value in your product or service to give you money for it.
Selling it repetitively creates your market.
The goal is to move fast and to establish leadership in your market niche.
When Should You Contact Green Room
Reach out to the team at Green Room Technologies when you:
- Early in the product validation, market analysis process
- When you need early sales targets and proof of concept demonstrations
- As you work to overcome healthcare-specific barriers to adoption
Are You Market Ready!
Green Room Technologies leverages extensive experience in all aspects of healthcare technology to help companies who have developed unique and valuable products successfully to market, creating viable, thriving business.
Start with Green Room’s exclusive Business Viability Assessment or explore our online resources for Market and Technology Readiness. Learn more
