Pivots, Trials, Errors, and Validation in Product Development with Madhavi Gavini

In this Hardware Case Study episode we talk to Madhavi Gavini, CEO of Droplette. If you are a founder, engineer, product team or builder who has the following questions, this episode is for you!Sunk Cost Fallacy: How can we avoid the sunken cost fallacy and prevent over-engineering and unnecessary features from hindering the minimal viability of our products?Insource vs Outsource Perspective: How can we make informed decisions about insourcing and outsourcing in product development, considering core competencies and institutional knowledge?Failure Mode Strategy: What strategies can we employ to mitigate failure modes and minimize potential damage, particularly in products designed for human interaction?Dealing with Failure: How can we embrace failure as an opportunity to pivot and expand the potential of our products, while effectively managing ego and welcoming constructive challenges?Product Design & Testing: What are the key elements of effective design and test strategy that fuel successful product development, and how can they be implemented in the hardware industry for optimal results?Join us as we aim to answer these questions and gain valuable insights from Madhavi Gavini during this fun conversation.Music by: Joel Caffey and Tom Stoke (in addition to royalty-free music provided by Descript)DISCLAIMERThe content provided in this podcast is for informational purposes only and should not be construed as professional advice. Pratik Development, LLC. ("The Builder Circle by Pratik", parent company), the hosts, guests, and producers of this podcast are not engaged in rendering legal, financial, or other professional services. Listeners are encouraged to seek the advice of qualified professionals regarding specific issues related to their business, product development, or any other matters discussed in the podcast.The information, opinions, and recommendations presented in this podcast are based on the personal experiences and expertise of the hosts and guests. However, they do not guarantee the accuracy, completeness, or effectiveness of any information shared. The hosts and guests disclaim any liability for any errors or omissions in the content or for any actions taken based on the information provided.It is important to note that every situation is unique, and what may work for one individual or business may not work for another. Listeners are responsible for conducting their own research, due diligence, and making informed decisions based on their specific circumstances.By accessing and listening to this podcast, you acknowledge and agree that the hosts, guests, and producers of the podcast shall not be held liable for any direct, indirect, incidental, consequential, or any other damages arising out of or in connection with the use of the information presented in the podcast.Furthermore, the hosts, guests, and producers of this podcast make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information, products, services, or related graphics contained in the podcast for any purpose.Listeners are advised to independently verify any information presented and consult with appropriate professionals before making any decisions or taking any actions based on the content of this podcast.By continuing to listen to this podcast, you indicate your understanding and acceptance of this disclaimer.