In this lecture, we are looking for two things: alignment and execution.

 If you have diligently worked out the previous topics, you have now created a vantage point for your target market, value proposition, and business model. That vantage point allows you to zoom out and ensure that development of your product and business is aligned with your target market needs. This alignment process needs to be set up and carried out moving forward.

Many science-based early-stage healthtech startups naturally focus on R&D and generating good clinical data. But some of them make the mistake of leaving the commercial side until later, or they think it will shape automatically. This is putting the cart before the horse. 

Your clearly targeted and validated value proposition should direct the course of your R&D and clinical trials, not the other way around. 

If you let your R&D guide your direction, you may end up with a product that does not solve the problems of your target market. It may also be incompatible with regulations for your target jurisdiction or - likely fail in terms of cost and pricing. 

Try to see your R&D like liquid gold that must be poured into the right molds. Otherwise, the end result will need to be melted down again and re-poured. This is a deadly expense for a startup. Instead, start with the right molds!

In contrast, if your R&D is aligned with market demands when you hit key R&D milestones, it will increase momentum for your startup. You will be able to secure much-needed sales commitments from prospective customers, resulting in faster, more successful funding rounds.

These same arguments apply to clinical trials and regulatory approval. If your clinical data does not provide you with the right data for your intended target indications and use cases, you will have poured your gold into another wrong mold.

Alignment also has the benefit of allowing you to get leverage from your stakeholder analysis. When your product is aligned with your value proposition, the stakeholders you have had discovery interviews with in the first place will very likely become your first paying customers. If there is a misalignment, your stakeholders will be “just friends” or - worse - "trying to help you with your startup". If they don't pay you, don't you dare call them clients.

To summarize, alignment is not just a good strategy; it is good business. If you want to maximize the return on your time and money invested, ensure that what you develop is what your market needs, and vice versa.