Today, we are talking to Mike Fisher, who is the director of product development at the Global Center for Medical Innovation (GCMI). He deeply understands process and product development and has worked with some great companies both giant and small throughout his career. Mike is going to share some pearls of wisdom on process excellence and how it leads to product excellence. If you're involved in bringing new products to market, you won’t want to miss today’s show. Some of the highlights of the show include: -- What’s going on at GCMI: What they do, some recent developments, and what’s coming up. -- Why compliance is so important when it comes to product development and how it helps keep the process on the right track to the desired goal of an excellent product. -- Considerations to keep in mind when it comes to intellectual property rights, patents and getting regulatory clearance. -- Why a market assessment is vital to coming up with and selling a great product, as well as thoughts on choosing a niche. -- Insights Mike has gleaned from a disappointing experience. -- Why lining up resources and getting investments is difficult for many entrepreneurs and small medical device companies. -- Why many companies don’t understand value concepts: They don’t know why they’re doing what they’re doing and are more focused on box-checking. -- Mike’s best tips when it comes to making your process conducive to product excellence.