The Secret to Hardware Startup Success (Isn’t Such a Secret)
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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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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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A Startup Adventure in the New Year
If you are considering developing a product or launching a hardware startup in the new year, we have a few pieces of advice to help you gear up for this adventure and to get you started in the right direction.
Write Everything Down
Grab a computer and start typing. Write everything down that has to do with your product idea. What it looks like, how it will function, its size, who will use it—all of this needs to be down on paper so that you can review every detail about the innovative idea swirling around in your head.
Draft a Business Plan
We suggest that you draft a business plan, however don’t get bogged down by it. Business plans can be high level, and just a couple of pages at this point. A business plan is a great way to take all of the details you have written down, and organize them. A simple internet search for a business plan template can help get you started. With your ideas organized and in one place, you can then begin the process of listing “action items” and getting to work on them.
Make a Prototype
In the very early stages, a homemade prototype may suffice. Depending on your product idea, you might be able to find the items you need to build a rough version at your local home improvement store. As you build upon your idea and start to assess your target market, you will need to work on a functional prototype.
A functional prototype will allow you to refine your design, gather market feedback, rally financial support (if you are looking for VC or crowdfunding investments) and file a patent.
Consider a Partnership
Many people envision entrepreneurs as “lone wolves”, however this could not be further from the truth. No one person has the skill sets necessary to build a startup completely alone from start to finish—the key is to find quality partners. You might decide to bring partners on full-time or to consult with outside agencies (product development, intellectual property, legal matters, to name a few).
Schedule a Product Development Meeting
Often, entrepreneurs think that they need to have a firm idea in place before setting up a time to meet with a product development firm, this is not the case. Many times, a product development firm will be able to help you refine your idea and provide suggestions on maximizing the design. A product development firm has extensive experience in both design and manufacturing, so meeting them early-on is advantageous.
The new year is a time to step out of your comfort zone and try something new. If you still find yourself on the fence about developing that product idea, ask yourself this one simple question, Why not?
Have additional product development questions? Please e-mail them to us 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.
Subscribe to the 3D Innovations newsletter on our Facebook page!
Connect with us on Twitter, Facebook & LinkedIn today
Top Five Product Design Articles
Product design is about building a product that is simultaneously functional, intuitive and appealing to a range of consumers. No matter the industry, product development is exhilarating—building upon an idea and seeing it come to life is the essence of entrepreneurship.
Before you dive into product development, we have compiled five of our top product design articles for you. These articles touch on everything from preparing for your first product development meeting to building a product that consumers will love for years to come.
Preparing for Your First Product Development Meeting
Product Design: Building Products Customers Can’t Live Without
Q&A with Rob Saito of Herbavore
Three Common Product Development Myths
Why the ‘One-Size-Fits-All Approach’ Doesn’t Work for Product Development
Have additional questions about product design? Send them our way, 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.
Subscribe to the 3D Innovations newsletter on our Facebook page!
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A Warm ‘Thank You’ to Our Clients
In the spirit of the Thanksgiving holiday, our 3D Innovations team would like to send a big ‘thank you’ to our valued clients. Our clients are the driving motivation and the reason we do what we do. Each and every project we work on is unique, just like each client. Seeing the excitement build as we assist in the development of taking an idea and turning it into a real-world product never gets old, and fuels our desire to keep helping entrepreneurs launch their dreams. With that, we would like to say…
Thank you to the clients that have helped us grow.
Thank you to the clients that have provided us with feedback and suggestions.
Thank you to the clients that referred us to friends.
Thank you to the clients that have supported our dream from the beginning.
Thank you for helping make 3D Innovations what it is today.
We also couldn’t miss a chance to shower our family and friends with a warm ‘mahalo’. These are the people that have helped us as we navigated complex business decisions, listened when we asked for advice and stood by as we followed our dream of building this business.
Wishing you a Happy Thanksgiving!
-The 3D Innovations Team
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
Subscribe to the 3D Innovations newsletter on our Facebook page!
Connect with us on Twitter, Facebook & LinkedIn today
Four Considerations Before Launching a Crowdfunding Campaign
Crowdfunding can help hardware startups launch not only a product, but an entire company. The power of “the crowd” is strong and can be a great asset for entrepreneurs. However, by now we have all heard of those crowdfunding campaigns that make headlines, for all the wrong reasons—Coolest Cooler and Pebble stand out, both raised a considerable of money, but stumbled when it came to production manufacturing and order shipment. In order to avoid issues early-on, there are a few considerations to take into account before you launch that crowdfunding campaign.
Evaluate Your IP Exposure
Is there a business out there with a similar product? If so, how is yours different? “Start by reviewing any patents marked on similar competitive products, product packaging or your competitors’ web sites. If your product is similar to a specific competitor’s, you can search patents by owner of record. You can also search on Google for any patent-infringement lawsuits related to the same or similar products/services. (Entrepreneur)”
Do your due diligence and research patents that are similar to your product. You can be liable for patent infringement whether you knew about the patent or not.
Consider trademark and copyright protection for your product and startup as well. It is better to have your logo, tag line, text and photographs protected, than to risk someone else using them without your permission.
Decide If A Patent Is Necessary
Securing and protecting the intellectual property (IP) rights to your invention is key to successful commercialization. As soon as you make your crowdfunding campaign public, you forfeit your right to obtain a utility patent on that product unless you have previously filed a patent application. Costs can be an issue when it comes to filing a utility patent, however a provisional patent application is cheaper and still protects your invention. A provisional patent application will allow you to keep your rights to a utility patent for 12 months while you decide the next move for your startup. You will also be able to use the coveted, “patent pending” term as you market your product.
A design patent is another option if the value of your product lays largely in its unique design. This design patent can block competitors from making an exact copy of your product, but it doesn’t block them from making a functionally equivalent product with a different appearance.
Build A Functional Prototype
A functional prototype is necessary when you are trying to get people excited about a new product. While people can indeed envision a product from a great description, there is no substitute for the actual thing. This prototype not only shows potential investors what your product can do, it is also necessary for the marketing material on your crowdfunding page.
Develop A Video
Let’s face it, you can’t have an exciting video unless you have a functional prototype. The video portion of your page is where you let your product shine. You want to demonstrate your product to potential customers and let them get a feel for what it has to offer. The more descriptive and creative your video is, the more people are going to get truly excited to contribute to your campaign and share your campaign with friends.
While there are many moving parts to a crowdfunding campaign, these four considerations should be thoroughly reviewed by your team to set yourself up for success right from the start.
Have questions related to 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.
Subscribe to the 3D Innovations newsletter on our Facebook page!
Connect with us on Twitter, Facebook & LinkedIn today
5 Major Challenges of Manufacturing Your Product Abroad
The manufacturing phase of product development is one of the stages that causes hardware startups the most stress. By the time you reach the manufacturing phase, you have a solid design in place, funding efforts are either underway or nearing completion and you now find yourself with the (daunting) task of securing a manufacturing partner. Keep in mind that manufacturing, either locally or abroad, comes with obstacles—however, these obstacles don’t have to be a crushing deal breaker for your startup.
If you have decided to manufacture your product abroad, there are a few additional obstacles that need be accounted for. Below we discuss five challenges your hardware startup will face while manufacturing your product abroad.
Cultural Differences
It’s no secret that business is done differently all over the world. In one country a handshake can seal the deal, while in another a deal may quickly vanish if you find yourself late to a meeting. Before you start connecting with manufacturers, learn the culture. Research cultural etiquette and, if possible, talk to others that have done business in the country before. A little research ahead of time, can save you major heartache later on.
When you are not in the same country as your manufacturer it is very easy to lose product quality. Things usually start off well, yet as days turn into weeks and weeks turn into years, quality can fade without your awareness. To protect yourself and the integrity of your product, be sure to include quality clauses in your contract and continuously examine and test your product.
Large Quantities
Most of the time you will need to order large quantities to receive a price break and make it worth while for your business. Quantities of this size can cause a bit of a cash crunch for a hardware startup just gaining its footing. With larger quantities also comes longer wait times. You may find yourself waiting months for your product to make it to the United States.
Choosing the Right Manufacturer
Whether you are manufacturing abroad or at home, this is always a challenge. Ideally you want a manufacturing partner that has experience manufacturing similar products to yours who is easy to communicate with. Vet prospective manufactures and select a factory that has the best reputation. If you are not able to inspect the manufacturer and factory on your own, consider outsourcing an audit. Before the contract is signed, do your due diligence so you can be confident that your product is in the right hands.
Logistical Costs
If you are manufacturing your product in another country there will be the additional costs associated with logistics. These fees can vary widely and become shockingly high if not researched properly. Before finalizing your decision of manufacturing abroad, take this cost into consideration to be sure that it isn’t a deal breaker for you.
Manufacturing abroad comes with certain trade-offs. Do your research and reach out for experienced expert advice before you delve into this phase of product development.
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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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Connect with us on Twitter, Facebook & LinkedIn today
Why the ‘One-Size-Fits-All Approach’ Doesn’t Work for Product Development
A one-size-fits-all approach can be utilized for a lot of things however, product development is not one of them. Throughout development, the stages of the “Product Development Cycle” will remain relatively unchanged (Concept, Design, Prototype, Test/Validate, Manufacture and Commercialize), but the approach and time spent in each stage will fluctuate based on the individual needs of your product.
When it comes to the development of a product, there is a great deal of time, energy and effort that goes into both the specialty design and product launch. Just like the fact that each product is unique, product development needs to be unique and customized in order to be successful.
Below we discuss three examples of why the “one-size-fits-all approach” just doesn’t work.
Highly Specialized Products
Chances are that if you are working on a highly specialized product, a one-size-fits-all approach would be detrimental to its outcome. Medical equipment, custom manufacturing tools and prosthetics are examples of products that need specialized attention and where precision and accuracy are of the upmost importance. When it comes to the development of these products, your product design will need to be extremely detail oriented and there is no room for error.
Customized Products
With the help of 3D printing technology, one-of-a-kind products are now feasible and quickly gaining in popularity. In a world full of customers, individuals want to stand out and have their unique style recognized. Customers are shying away from the “big box retailer” approach to purchasing products and instead opting for products that suit their specific needs. Hardware products that are highly customized range from in-ear headphones, replacement car parts to orthopedics. With the onset of mass customization, the phrase “one size fits none” is becoming more of a reality for hardware startups and manufacturers alike.
Licensing & Intellectual Property
When it comes to licensing and intellectual property, a highly customized product development plan needs to be in place. Often times the product development cycle will also be slightly altered if you are aiming for a licensing agreement or focused on obtaining a patent.
With a license agreement, you will not focus as much on the commercialization stage of product development, since this will be taken care of by the licensee. Instead, your energy will be on developing a product that meets the needs of customers while simultaneously appealing to potential licensees.
If obtaining a patent is your goal, you are going to need to focus more energy early in the development cycle on items such as: patent research and line drawings. Depending on the type of patent you are trying to get, the process can take months or even years, so from the start you will need to communicate to your team what your goals are after obtaining your patent.
Developing a product is a very personal journey for many entrepreneurs—nurturing an idea and seeing that idea take form and eventually a place on store shelves is no easy undertaking. With the right product development approach and team by your side, reaching your end goal can be both feasible and enjoyable.
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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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