Hardware startups have many moving parts and are exponentially harder to launch than a typical software startup. Between product prototyping, testing, material selection, manufacturing and quality control (just to name a few), many days it seems like there just isn’t enough time to get it all figured out. There is a lot of time and energy that goes into launching a product before it hits store shelves.
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.
- Do you want people to buy your product? Yes.
- Do you want to build a strong brand? Yes.
- Do you want to stay in business? Yes.
…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)
3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.