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Things You Need to Know About Starting a Hardware Startup

Posted on Monday, October 30 2017 @ 10:02:52 CET by


The majority of new startups today focus on developing a software-based solution to existing problems. Eight out of 10 of today’s most successful startups have apps and services as their primary products. But, don’t dismiss hardware startups just yet because there is actually a big opportunity waiting to be explored in this market.

Before you consider starting a hardware startup, you must first have a solid product idea and a clear roadmap on how to bring that idea into tangible products that customers can actually buy. There are a number of things you need to know about starting a hardware startup and we are going to review them in this article.

Rapid Prototyping Is Your Friend
Here’s a top tip you should always keep in mind when working on a product idea: it is best to get the product right from the start rather than revise the product once it hits the production line. Thanks to rapid prototyping, this is something that you can do easily.

When designing circuit boards for your next big electronic product, for instance, you can use a unified PCB design software to help you tackle the common challenges from the start. Figuring out the right parts to use and checking for errors are things you can do without actually (and manually) producing the board for testing.

The same can be said for other parts of the product. You can use 3D design and printing to create mockups in a matter of hours. Design faults and potential improvements can then be added before the product even hits a production line.

The Three Questions to Ask
As mentioned earlier, developing a tangible product can be trickier than developing an app or a software-based solution. That said, you can rely on these three questions to check if you have a good product worth developing:
  • Does it solve an existing problem?

  • Does an existing solution exist?

  • Is your product better than the existing solutions?
  • Use these three questions to test every product idea you have. A product that doesn’t solve a problem may not be as successful on the market. A product that is no better than an existing product on the market will suffer the same fate.

    Watch Your Time to Market Last but not least, always keep your time to market in check. I know how thrilling product developing can be from personal experience; it is easy to get carried away and start working on improvement without actually getting any product made for customers. Don’t fall into this trap when developing your own product ideas.

    Get the details right and a hardware startup could launch you to the level of success you have always wanted to reach. It takes more time, energy, and money to develop a successful product from scratch, but when you do get things right, the end result will be very rewarding. You can then focus on improving the product and reaching new markets effectively.



     
     

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