The Secret to Hardware Startup Success (Isn’t Such a Secret)
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The Secret to Hardware Startup Success (Isn’t Such a Secret)
We bet you just read that sentence and thought to yourself, “Yes, I have definitely heard that before”. The thing about the secret to startup success, is that it is not a secret at all. We work with countless hardware entrepreneurs that have an abundance of product ideas, and often one of our first pieces of advice comes in the form of two questions, “What problem are you solving?” and “What segment of the population faces this problem regularly?” The answers to these questions can help determine if your product idea is poised for success.
If you are currently mulling a product idea around in your head and deciding if it is worthy to pursue, ask yourself the following three questions.
Do you personally experience this issue?
If you are personally experiencing this issue, there is a good chance that others are as well. Casually ask friends and family if they notice this problem and if they have ever thought of a solution to it. You might be surprised at how many people experience this issue, but have probably just decided that “this is the way it is” and haven’t given any real thought to a solution.
Can you act quickly?
The thing with startups, is that they can, on average, act quickly and pivot just as fast. Large corporations undoubtedly have the funds, but moving fast is not something they can do. So are you in a position in which you can quickly and efficiently design a solution and launch it into the marketplace? Moving fast gives you a head start, and often, it is before the big industry players even notice the problem.
Do you have the right skills to succeed?
Do you have the skillset necessary to act quickly? Think about your network, do you know others that can help or offer advice as you get going? Keep in mind that no one has all the skills necessary to succeed. This is what teams and product development partnerships are for. Understanding your skills and limitations will help you know where you need assistance and where you can take on a majority of the responsibilities.
Have additional questions about developing and launching a product into the marketplace? We are happy to help! Send us an email at info@3d-innovations.com
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Prototyping to Production—What’s 3D Printing Used For?
Visual Prototyping
“When it was invented, 3D printing was referred to as rapid prototyping, a method for automating and reducing the labor required to create a prototype model for design validation. Since then, it has found use in a number of other applications, but the technology is still widely implemented to create visual models and functional prototypes.”
A visual model of your product lets you get a better idea of how the product will look and feel. With the rapid expansion of 3D printing materials and colors available, you have more options than ever when it comes to product design materials. Most hardware entrepreneurs start with a visual model and then move forward with a functional prototype for design validation and testing.
Functional Prototyping
A functional prototype allows you to test the form, fit and functionality of your product. Testing and validating your product design with a functional prototype is highly recommended so that any potential errors can be fixed before heading into manufacturing.
The benefits of a functional prototype extend beyond your design. With a functional prototype you can also gather critical market feedback, rally financial support from venture capitalists and your community as well as file for a patent.
A major misstep that can derail your hardware startup is to skip the development of a functional prototype.
Tooling
As a design moves from the concept phase to the production phase, a manufacturer might implement 3D printing for the fabrication of custom tools that aid in the production process. “This can include anything from guides for precise drilling, dies for forming or cutting raw material into a specific shape and measurement tools, like gauges, to jigs and fixtures that hold a part in place while other operations are performed.”
3D printing is a flexible tool that can be used either directly or indirectly in the creation of tooling for manufacturing. In the case of indirectly, a tool may be made by coating a 3D-printed component in rubber, which is then used to cast the tool itself.
Production Manufacturing
Currently, due to the speed, quality and cost of 3D printing, “the technology is best suited for the production of specialty parts in smaller batches, rather than mass-manufactured goods. However, there is an industry shift towards expanding 3D printing technology to take a more prominent role in mass manufacturing”.
“3D printing brings some important qualities to the world of manufacturing that make it ideal for certain jobs. For instance, parts can have complex geometries impossible with traditional manufacturing processes. It is also possible to 3D print goods on demand, allowing for easy creation of custom parts.”
Because of these intrinsic benefits, businesses that need to create specialty or custom parts in shorter runs will often turn to 3D printing to manufacture their products. The benefit is that they don’t have to invest in costly tooling to mass produce goods that will only see a limited release.
(Referenced Source: Engineering)
Have additional questions about 3D printing or how the technology can benefit your business? Send us an email at info@3d-innovations.com
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Staying Motivated As A Hardware Entrepreneur
When you feel your motivation start to slip, here are five ways to help reignite that fire within you to keep pushing forward.
Make A Plan
What is your personal mission statement? Your hardware startup should have its own mission or vision statement to help identify goals—and so should you. Once you have a clear mission statement for yourself, write it down and post it somewhere visible as a daily reminder of the goal you have set for yourself.
Now take this mission statement and make a plan around it. How will you accomplish this? Write down your short and long-term goals. Keep in mind that your written plan is a living document and should change as you do and as your business matures.
Write Down Your Startup Goals
It’s easy to get tunnel vision and focus solely on your product when you are in the trenches of product development. However, at times, it is necessary to step back and remind yourself why you are doing all of this. What problem is your product solving? How is it making life easier? Is it benefiting a greater good?
If you have a business partner, communicate these goals with them as well so that you are both on the same page about where you see this product and startup going.
Talk With Your Mentor
Mentors are motivating. They are cheering for you from the sidelines and want to see you succeed. A nice chat with your mentor over a cup of warm coffee might be just what you need. Mentors often have more experience and different ways of viewing things, so getting some helpful advice or viewpoint could help you get over your temporary slump.
If you don’t have a mentor, or your mentor isn’t readily available, a TED Talk or an inspirational podcast are two other options.
Stay Positive
“Choose happy”. Life can get hard and it can feel like the weight of the world is right on your shoulders, but with the right attitude and a smile, you will prevail. There is no one-size-fits-all approach to launching a hardware startup or becoming an entrepreneur. What works for you may not work for anyone else. So with opinions, ideas and theories coming at you from all angles, remember that ultimately you in one in control of your business and life.
Not everyone gets to do what they love for a career, but if you play your cards right, you have the chance to live the entrepreneurial dream. There will be days you want to quit and situations that seem impossible to navigate, but by remaining positive you will be able to channel your inner strength needed to reach the finish line.
Set Aside Time to Rest & Relax
Never underestimate the benefit of a good night sleep. Tasks and goals are easier to accomplish when you are well rested and ready to take on the day. Starting each day recharged and rested will ensure that you are able to reach peak productivity and make decisions with a clear mind.
Ready to develop your product idea? We are here to help! Send us an email at info@3d-innovations.com
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Leaping into Product Development—Four Questions to Ask Yourself First
If you have been mulling over a product idea, but are still on the fence as to whether it is commercially viable—here are four points for you to consider.
Does this product solve a common problem?
Chances are that if you came up with this product idea to solve a problem that you regularly face, others out there are dealing with the same issue. Finding and developing a solution to a common or universal problem is how most great inventions came to be.
Action: Take a minute to write down the problem that your product will be solving and how it would make life easier for its users. You can even start to casually ask family and friends if this is a problem they have experienced. You don’t have to go into details talking about your potential product yet, if you want to keep it in stealth mode, but you can get a feel to see if others are having this same reoccurring issue and would appreciate (and purchase) a solution.
Is this a problem that a large segment of the population faces?
Narrowing down a target market is one of your first tasks. If your product focuses on fixing a technological issue, perhaps your target market is geared toward a younger tech-savvy crowd. Likewise, if your product solves an issue for a specific industry (i.e. automotive, financial services, restaurants, etc.) you are going to want to make sure that it is easily integrated into daily operations.
Action: Compile a list of potential customers. Focus on age range, education, location, skill set and start to narrow your target market focus. Once you have this list, take a moment to think of the ways in which you can reach this segment of the population.
Is this product one-of-a-kind or is there something similar already on the market?
Brand new products are great—they are exciting and intriguing. Brand new products also come with a requirement—you must educate your audience and customer base first about the problem and your solution before they make a purchasing decision. While it is an additional step, it is nothing that can’t be overcome.
If there are already similar products on the market to your product idea, how are you going to make your product shine? What features will set yours apart? What does your pricing strategy look like in comparison?
Action: Do your research and get a comprehensive view of the industry landscape as well as potential competitors.
Do you have the time and energy to commercialize this product idea?
Products aren’t developed and launched overnight—though it may seem like that at times from an outsider’s perspective. Often though, weeks and months go into development. Many entrepreneurs are carried through the product development cycle by their passion—they have a strong passion and obsession with their product and know that it can make a difference.
Action: Ask yourself if you have the time to dedicate to developing this idea. Will you need help? If so, what type of help?
Have additional questions about product development? We are happy to help! Send us an e-mail at info@3d-innovations.com
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Building A Hardware Startup Outside of a Major Tech Hub
Focus on the product.
When you find yourself in the center of a major technology hub it is easy to get distracted from your original goal if you are inclined to listen to all of the “experts” out there. This advice coming in can easily veer your startup off course and make your head spin.
Instead, diligently focus on your product idea and developing it for your target market. If you have a useful product, customers aren’t going to care where your business is located. Being in a lesser well-known area will also help you keep a global market in mind—you won’t be in a bubble where people share your same interests, skills etc. If you are in the middle of a tech hub you may not realize that people in, say, Tampa or Portland aren’t as tech-savvy as your neighbors. Being an outsider forces you to keep the needs of every potential market in mind.
Seek out local support.
Chances are that if you are in a large enough city, there are other businesses out there supporting the startup community. You don’t necessarily need to find an industry specific support network, but instead a network that has the skillset your startup requires. Here in Hawaii, we provide product development support to hardware startups in a wide-range of industries.
Cities all over the nation, and really the world, are starting to realize that creating a friendly startup ecosystem is good for business. Startup support might come from government programs, local universities, or corporate sponsorships—there is going to be support available, your job is to seek it out.
Through local relationships and organizations, you may gain access to anything from low-interest loans to access to venture capital that’s limited to local businesses, and opportunities to speak at local business events.
Reach out to your existing connections.
The benefit of launching your startup where you live is that you know people and have years-long relationships built with them already. You have an established community. Even if you’re not in a tech hub, you’re bound to be surrounded by business owners of some sort.
Maybe you know a local manufacturer that can help explain the manufacturing process to you and make introductions for you with their contacts. Perhaps you are neighbors with a local baker that excels at social media, and he/she is willing to give you a crash course on what you need to know to get started.
Connect with people who have forged similar paths.
The good thing about living in a connected world is that expert advice and help is just a Google search away. Connect with other entrepreneurs and CEOs that you admire online—via blogs, their websites, weekly digest emails. You don’t necessarily have to have a two-way conversation with them to glean useful information that you can put into practice.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Tips To Help You Launch Your Hardware Startup Faster
Building a startup from the ground up is hard work—it takes total commitment, sheer determination and a great deal of research. To help you on the last aspect, we have gathered a few of our most popular blog posts related to starting, managing and running a hardware startup for your reference.
I Have A Product Idea—Now What?
How to Avoid Common Hardware Startup Failure Traps
Hardware Startup: Seeing Opportunities That Others Have Missed
FAQ: The Basics of Product Development
FAQ: The Basics of Intellectual Property and Manufacturing
Early Product Design Challenges Facing Hardware Startups
Three Things Successful Hardware Startup Founders Understand
These articles will help you get started and answer many of your preliminary questions as you begin your startup journey. You can also find additional information related to starting a business over on our blog. As always, if you have a specific question and want to chat with an expert, we are happy to help! Send us an e-mail at info@3d-innovations.com, we look forward to talking with you.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Three Things Successful Hardware Startup Founders Understand
Below are three things all successful hardware startup founders learned:
Build an Exceptional Product
Hardware startups are built on a product vision. Create a product that not only meets customer expectations, but instead exceeds all expectations.
Far too often, we see companies that over promise and under deliver—leaving a wake of frustrated customers behind them. This is a sure-fire way to fail. If you are promising your customers a certain type of product, that should be what you deliver to them.
Focus on Customers
You cannot overemphasize that customers are key.
…Then focus on the needs of your target market. Take care of your customers.
In today’s social media focused world, a hardware startup can find themselves at the center of a major customer backlash with one misstep. People like to share their experiences with companies (both the good and bad)—bad policies, practices and products can be broadcast around the world in seconds. Avoid this headache by listening to your customers, understanding their needs and acknowledging their product improvement suggestions.
Stay In Your Lane
Entrepreneurs must wear many hats in the early days for budgeting purposes—bootstrapping is often seen as a rite of passage for hardware startup founders. The problem occurs when founders try to take on too many tasks they are unqualified for. If you have excellent sales skills, then focus your energy on that area and leave the product design aspect to your engineer. Building a skilled team around your strengths and weaknesses is the essence of true leadership.
“Great leadership entrusts and believes in a collective, skilled team to produce a better product. Poor leaders succumb to ego and attempt to run all facets of the development and release of a product. The results are typically lackluster and not optimal.” (Startup Nation)
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Intellectual Property Strategies for Hardware Startups
Patents are a way to not only protect an idea, but to also minimize competition and act as a defense mechanism against infringement claims from others. Having a strong intellectual property strategy or having the patent process started, is a great way to attract or solidify partnerships and funding.
Below are four considerations for your startup’s intellectual property strategy.
File Early-On
Patent rules are strict and adhere to a tight timeline, so it is best to file for patent protection early-on in the development cycle. A provisional patent application is a good “first step” for hardware startups. A provisional application provides the means to establish an early effective filing date in a later filed nonprovisional patent application. It also allows the term “Patent Pending” to be applied in connection with the description of the invention.
It is important to note that a “provisional application for patent has a pendency lasting 12 months from the date the provisional application is filed. The 12-month pendency period cannot be extended. Therefore, an applicant who files a provisional application must file a corresponding nonprovisional application for patent (nonprovisional application) during the 12-month pendency period of the provisional application in order to benefit from the earlier filing of the provisional application (United States Patent and Trademark Office -USPTO).” Once you file a provisional application the countdown clock starts ticking and your next move must be decided within the 12-month period.
In this early period, it is also best to keep quiet about your invention. You want to avoid publicizing your invention. This does not mean that you cannot meet with potential partners or product development firms, but instead that you don’t want to share your idea online or start a crowdfunding campaign just yet.
File as the Invention Evolves
Many times the invention that you first envisioned, completely transforms during the product development process. This means that your initial patent or patent application may not cover new features that have been added on. This will leave your final product under-protected or not protected at all.
If the product is evolving quickly, consider filing a provisional patent application or a series of provisional patent applications within a year before filing a utility patent application.
Consider a Design Patent
While utility patents make up 90% of patents issued, design patents have been steadily on the rise because inventors are realizing that the exterior design and overall aesthetics of the invention can easily be replicated as well. Protecting both the design and functionality of an invention is necessary for long-term success.
According to the United States Patent and Trademark Office (USPTO), “design patents may be granted to anyone who invents a new, original, and ornamental design for an article of manufacture”. In short, this means that design patents cover exactly what is shown in the drawings, nothing more.
Like a utility patent, a design patent also lets you use the phrases patent pending and patent issued on all business-related material. Once you have been granted a design patent, you are then able to secure rights for the next fourteen years. Another important thing to keep in mind is that design patents are relatively cheap to file and maintain, as compared to a utility patent.
A design patent, coupled with a utility patent, offers a range of IP protection on both the inner workings and exterior design of your product.
Consider Other Brand Protections
Patent protection is only one part of your IP strategy. A registered trademark will help protect your brand as well. A trademark is a word, phrase, symbol or design that identifies and distinguishes the source of the goods of one party from another—think along the lines of logo and tagline. A recognizable trademark can be extremely valuable for distinguishing your business from the competition.
Depending on the exact nature of your startup, a licensing agreement, copyright and/or trade secret protection could also be considered during your intellectual property planning and overall strategy. Speaking to a Patent Attorney early-on will let you discuss your options, weigh the benefits and build a custom strategy for your startup.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Four Common Startup Roadblocks to Success
Wrong Design
Entrepreneurs are designers at heart—they want to design a product, methodology or experience for their target market. They have a brilliant idea and want to introduce it into the marketplace. Design failure can arise rather quickly if the startup founder is not willing to modify their original design idea to meet the needs of customers or manufacturing.
If your customers are asking for your product to function a certain way, feel a particular way or look a specific way, you are going to want to modify your design. At the end of the day, you want people to both purchase and enjoy your product.
When you are working towards commercialization of a product, the goal is to be efficient, minimize costs and get your product onto store shelves quickly—DFM (Design for Manufacturability) works to do just this. With DFM you work out any potential issues before manufacturing planning which saves both time and resources. If you fail to design your product with manufacturing in mind, you are making your startup extremely vulnerable to hefty manufacturing costs and even the potential that it is not able to be manufactured at all.
Reluctance to Get Prototype Feedback
Plenty of hardware startup founders refuse to let anyone see their product until it’s time to launch. Many are afraid that someone will steal their idea, that potential customers won’t like it until it’s perfect, or they want to get a big head start against the competition. Whatever the reason, failure to get feedback is often fatal for a startup.
Feedback is critical during product development. You aren’t going to know if you are on the right track without feedback from your target market. You are going to want people in your target market to test your product (not just family and friends). It is helpful to get feedback that is both honest and actionable. By creating an inexpensive prototype, and gathering feedback from it, you will be in a much better position as you build your product. This feedback loop is important until the final design is ready.
Product/Market Fit
It doesn’t help your startup if you have a beautiful product that works flawlessly if the market for it just isn’t there. For example, if you are positioning an electronic gadget for the 65+ year old crowd you are going to have a hard sell if they are not well versed in the latest technology trends, or if you are targeting the 18-25 year old crowd with a gadget that is overly cumbersome you are going to face an uphill battle. The solution to this is to find out what appeals to the target market you are aiming to capture and design/modify your product to grab and hold their attention.
Funding
This list would not be complete without the mention of funding. Funding is the primary stumbling block for a majority of startups. Developing, manufacturing and launching a product takes time and money. Whether you are turning to crowdfunding or looking for investors, you are bound to face a hurdle or two.
If your goal is to raise capital from investors, be prepared for rejection (a number of times) before you succeed. The process almost always takes longer than you think it will, so start early in your quest to find an investor.
If crowdfunding is your plan, be sure that you show up with a nearly flawless campaign. Your video, content and prototype need to be ready to go. Your goal is to show potential investors that you have a plan laid out, it is well researched and that you are ready.
Starting a hardware company comes with a unique set of challenges. If you can navigate these four common roadblocks, you will be in a much better position for a successful product launch.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Early Product Design Challenges Facing Hardware Startups
Originality
The marketplace today is vastly different than it was ten years ago. Consumers today not only want originality and authenticity in the products they purchase, they demand it. However, the thing about originality is that it’s hard. The rise of counterfeit goods, shows just how hard it can be to not only come up with an original business idea, but execute it correctly.
Hardware startups today are relying more and more on the experience and knowledge of their product designers to develop a product that is both externally and internally unique, completely original and visually appealing—so that it outshines the competition and stands out in the marketplace.
It is no secret that the one-size-fits-all approach to product design is losing its luster. Take the Futurecraft 4D shoe from Adidas for example. Adidas is known for its top-of-the-line athletic gear, and have shown that they understand that innovation is necessary with their recently unveiled 3D printed shoe. “3D printing allows the shoe company to unlock performance-enhancing design modifications that would have been impossible with other materials like foam.” (TechCrunch) By incorporating this cutting-edge technology into their design and manufacturing process, Adidas is introducing a truly unique and customizable running shoe into the marketplace.
Product Form
Consumers care about design—hardware startups need to focus in on their product’s physical form, properties and materials. As technology advances, products are becoming slimmer, more light weight and exceptionally durable—in turn, consumers are expecting these characteristics from the products they purchase, not just electronics anymore.
Along with advancing technology, material selection is also advancing. The material expansion with 3D printing alone is ever increasing, today you can expect to see a variety of plastics available for your design (PLA, ABS, PET, PVA, Nylon) however, metals (steel, gold, silver, titanium), ceramic, and wood options are also quickly coming to market.
Technological Advancements
As a startup your main goal is to design, manufacture and launch a product as quickly as possible to turn a profit. However, the vast technological advancements that help throughout the development process, can also be a double-edged sword. You must also design your product with future technologies in mind.
For example, the recent introduction of the Internet of Things (IoT), has created a vast network of interconnected consumer products that work and communicate with one another. Entrepreneurs that incorporate this type of technological foresight into their product design will no doubt have a clear advantage over those who disregard it and look at it as if it’s a passing fad.
Awareness
It can be a challenging enough for well-known companies to create buzz over a new product. For a hardware startup navigating a new industry, these challenges increase exponentially. Not only are you creating awareness around your product, but your company and brand as well.
The internet is a great place to start working on this buzz. Between your website design, social media, partnerships, and customer engagement, it is possible to grab the attention of your target market. More and more entrepreneurs are turning to creative mediums, such as podcasts, videos and interactive websites, to build their brand and launch their startup.
While launching a hardware startup can be intimidating, it is not impossible. Knowing and understanding the challenges facing startups, allows you to have a better idea of what to expect and plan accordingly.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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