Markus Müller | How I Tested a B2B MedTech Compliance Product
May 1, 2024
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Markus Müller, co-founder of Flinn, shares insights on testing ideas in the healthcare industry. Topics include using LOIs for commitment, co-creation with customers, and balancing risk. He stresses the testing mindset for building a successful business.
Testing assumptions and using experiments to validate ideas is crucial for building a successful business.
Co-creation with customers and balancing risk are vital in heavily regulated industries for product development.
Deep dives
Marcus Miller's Testing Journey with Flynn and the Importance of Experimentation
Marcus Miller, co-founder of Flynn, embarked on a testing journey influenced by experiences with previous ventures, including a tablet-based ordering solution and product management at N26. Discovery of experimentation-driven product management led to a shift towards systematically testing assumptions. Through testing business ideas, Marcus evolved his approach to view businesses as a series of experiments, emphasizing the importance of explicit assumptions and informed decision-making.
Starting Flynn: Customer Interviews, Problem Validation, and Early Testing
Flynn's inception involved conducting 40 customer interviews to identify pressing industry challenges. Initial focus on getting new medical devices certified shifted to addressing continuous compliance management. Deep dive problem interviews led to a click prototype tested with potential clients, resulting in 10 signed letters of intent (LOIs) securing $1.8 million pre-seed funding. This rigorous upfront research informed subsequent product development.
Concierge Testing and Early Validation with Customers
Flynn creatively employed concierge services to test features and gather user feedback, emphasizing manual interaction to validate solutions before extensive development. By offering beta versions and highlighting features as 'in testing,' Flynn engaged customers in co-creation, balancing risk, and transparency. Concierge approaches allowed Flynn to fine-tune products based on customer input, optimizing the build process.
Navigating Testing in Heavily Regulated Industries: Quality Experiments and Risk Management
In regulated and client-focused industries, quality experiments focus on user feedback, concierge testing, and beta features. Balancing risk and transparency, Flynn leverages beta releases for customer insight, emphasizing risk management in feature validation. Transparency around 'in testing' features and customer participation in the early access enhances trust and product development in regulated environments.
Markus Muller, co-founder of Flinn, shares his journey of testing ideas and building a business in the healthcare industry.
He emphasizes the importance of testing assumptions and using experiments to validate ideas. Markus discusses the use of LOIs (Letters of Intent) as a tool to gain commitment from potential customers.
He also highlights the value of co-creation with customers and the need to balance risk in heavily regulated industries. Overall, Markus provides insights into the testing mindset and its application in building a successful business.
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