Posts Tagged "partnership"

Finding the right product development partner to assist you as you take an idea from concept to product is a major undertaking—and can often be the difference between success and failure.  Product development is a collaborative endeavor, and you want to have a team that is able to clearly communicate, develop and deliver your product on time and on budget.

Here are the five key questions that you need to ask while searching for the right product development company.

How will we define clear requirements?

It’s crucial to be able to clearly define the goals of the engagement early-on. Many times entrepreneurs will need to set these goals before talking with product development firms, so that they are in a better position when asking for, and comparing, proposals.  Depending on the scope of the project, a firm might ask the client to engage in a preliminary “discovery” phase to gather all baseline requirements before submitting a formal proposal. This “discovery” phase is most often used when there is extensive research or testing involved.

What is your related expertise?

Are you looking for a partner that has experience in a particular field, a specialty or quick turnaround? Lay out the characteristics of your ideal firm and begin your search with this criteria in mind. Be cognizant of the fact that you may not find a firm that meets all of your criteria perfectly. It is best to approach companies that are suited to projects your size—a firm with 500 employees might not be an ideal match for an entrepreneur with a $30,000 budget.

How well do you adapt to change?

There is no doubt that the product development path is fraught with obstacles and challenges. A firm that is able to be flexible will serve you well. Flexibility is important for a number of reasons—scope-of-work, design and deadline changes occur frequently and you don’t want each change to be a “battle” between you and the firm.

What method do you use for setting deliverables?

A common understanding of deliverables is necessary to demonstrate results. A lack of agreement on deliverable from the onset is a big factor in dissatisfaction from both parties. Without set deliverables, debates about quality and expectations are bound to happen—which leads to frustration and wasted time.

A couple of examples:

• Is a prototype a required deliverable? If so, do you need it to be a proof-of-concept, or a functional model?
• Is a user-manual a required deliverable? If so, do you want it made by the product development firm, or will the firm just be assisting?

Going into details such as this will help clarify deliverables for both parties.

What will our acceptance criteria be?

Breaking larger projects into phases is common and payments can be contingent on the phase being “complete”, therefore both parties need a clear understanding of what “complete” means. This leads back to deliverables—have they been met and are both parties satisfied that they were met in a complete manner? Scheduling final review meetings are an easy way to stay on track with deliverables and to know when each phase has been completed.

The above questions will not only help you find a product development partner, but will set the foundation for a successful, productive and profitable relationship. In the end, you want to get your idea off the drawing board and into the marketplace on time and on budget.

*If you are searching for a product development partner for your next project, contact 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.

Startup Connector is a Manufacturing Accelerator helping companies commercialize—turning ideas into products.

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