Almost every new hardware product has some possibility of technical risk. That inevitably means there’s a chance that your hardware startup won’t be able to deliver a product because of some type of malfunction, engineering issue, or even a manufacturing complication. I’m sure many of you have been in this situation. Maybe a charging module began to overheat, or perhaps you needed to cram 10 different components into a 0.76mm thick PVC. Managing technical risk is one thing, but to mitigate it? That can be a totally different beast. Successful startups manage and mitigate technical risk very well. But a
Sign up to get the Hardware Insider Newsletter.
Receive exclusive content, access to webinars, events, and more!
For years now, we’ve seen a massive shift in which verticals people are seeking out. They’ve gone from business and law to engineering and technology. And while it’s great to see the masses shifting this way, it’s not great to see the majority of people fail. But the sad truth is, not everyone understands or follows through with the process of building hardware. To be more specific, not everyone sees the need to build prototypes, but the fact still remains. You can’t skip prototyping your hardware. At a fundamental level, prototyping benefits you in more than a couple of ways.
Building the right MVP for your hardware startup should not be rocket science. For the most part, people understand that. But some people are sometimes reluctant to give up their perfectionism. I can understand that. The thing is though, MVP doesn’t stand for Most Valuable Player (at least not for hardware startups). MVP stands for minimal viable product for a reason. You know? The entire goal of an MVP is to test assumptions about a business idea and learn from those tests but only delivering the least amount of resources. That means you need to spend the least amount of
Developing a hardware prototype is one of the most valuable stages for hardware startups. Well, for any startup really. And that’s for a couple reasons. #1 – you see your product come to life. #2 – you learn extremely valuable insight about how your product could be used, how it holds up through wear and tear, and how it can be improved. But maybe your hardware startup is still in the early prototype stages. Maybe you’re pressed for cash and you don’t have the time and resources to ship out a final product. So instead of trying to raise investor
We’ve written about everything from building an MVP to acquiring your first customers, but what we have yet to discuss is preparing your hardware startup for production–perhaps the least fun part about hardware. The complicated part about making a physical product and getting it to ship on time is that it involves too many suppliers and vendors. That’s arguably the worst part about having your product manufactured abroad. Working collaboratively and on your timeline is a lot harder. Of course there’s no right way to preparing your hardware startup for production. There only seems to be a logical sequence of
Hardware startups sometimes overlook getting their product validated Unfortunately, hardware startups are sometimes doomed for failure without the proper validated learning processes put into place. That’s one reason why we’re so passionate about lean hardware. For the most part, the purpose of lean hardware is to maximize learning by gathering feedback from your customers, backers, or investors through a series of processes. The only problem with gathering feedback is not a lot of people really know where to start. Among the hundreds of questions that an average aspiring entrepreneur would have, we’re often asked, “How do we ask hundreds of customers for
Marketing your hardware startup is usually never second nature. Hardware founders and product guys get so carried away by all the fancy technologies and sweet features we desire that they forget to share it with the right audience. On top of that, they’re never really sure where to start. To remedy this, we put together 3 pre-prototype, pre-production, power strategies that you can use today so you can get started on marketing your hardware startup. The beauty about these strategies is that they are independent of each other. Although, some may seem like they go hand in hand, you can
What makes a crowdfunding campaign successful? Is it luck? Strategy? Or some sort of wizardry? In all honesty, it’s a bit of everything, but usually strategy takes the cake. One thing that’s for sure is that getting initial traction is critical to a successful campaign. There’s plenty of ways to get early traction, but, as many of you already know, getting press may possibly be the best path to success. Now, let’s talk about how to do it! Press Can Do Wonders for Your Startup Let’s just dive right in, here’s what press can do for you. 1. Brand reputation
Choosing a manufacturer to produce your hardware product is a lengthy, time consuming, and overwhelming task. But, believe it or not, there are a few things that you can keep in mind in order to make this process a lot easier and faster. In the midst of designing and prototyping, founders are always quick to jump the gun on manufacturing. They immediately assume that they’re going to need the biggest and greatest manufacturer of all without even considering how many people are actually going to purchase their product. And that’s just the tip of the iceberg. You should be considering
Underestimating the costs of building a hardware product could mean failure for your entire company. Unfortunately, too many hardware makers underestimate their expenses. Of course, the cost to launch a product varies drastically but in order to launch a successful hardware product, you need to know how much money you’re going to be spending when and where. When it comes down to the most critical and sensitive costs, there’s 3 major expenses that you have to prepare for. Buckle Down for Product Development Most people believe that building the physical product is the most expensive part of a launch. And