Concept to Market Within 4 Months
(1 of 4)
In the last article we discussed the importance of having all the paperwork in order. Now we are ready to dive into the product development world.
If this is our first project, we should limit the exercise to products that we are familiar with, and that are not overly complicated. Anything with special regulation or several manufacturing processes will take substantially more time. Product manufacturing comes with a few risks already, so let’s try to minimize them as much as we can.
Week 1
This is one of the most creative weeks, so enjoy it. Sit back, listen to your favorite music, go to your favorite coffee shop with a notebook ready for a thousand sketches. Talk to people (preferably close to your target market) about your idea and concepts. Talk to professionals. Take your time and think of a great concept. Let creativity flourish, no need to worry about the details yet. By the end of the week you should have at least 3 solid concepts ready for evaluation. Personally, when I have the 3 runner-ups ready, I like to take a step back and leave them to sit for at least a day so my head clears before I make a decision. Monday is going to be terrifying. Happy weekend!
Week 2
Deciding to go for one concept over another will unfold many things that will impact the rest of the project. Needless to say, this is an extremely important moment and should not be taken lightly. Our product should not only be appealing and innovative, but also safe, feasible, and compliant.
Time to turn those sketches into technical drawings and specifications. By the end of this week we should have basic drawings to help us with the quotation process. If we know how to do it, great! If not, it is a good idea to hire an industrial designer or a professional in the discipline of our project. If you are undertaking both design and development, a couple of great software packages that don’t cost an arm and a leg are Autodesk’s Fusion 360 and McNeel’s Rhinoceros 3D.
Personally, I like to send these files to my suppliers when quoting new products:
- A Product Design Brief: a thorough document detailing the product. Be as detailed as possible, but avoid being repetitive or using overly sophisticated vocabulary. This document might be read by people whose first language is not yours. Bullet points, diagrams, virtual renderings and photos help communicate your concept.
- Technical Drawings: as with the brief, thorough and consistent, but not overly complicated. PDF is a universally accepted format that usually will keep the original formatting.
- 3D Solid files: particularly helpful when manufacturing involves plastic injection, CNC, or assemblies. STP’s are a reliable standard, but ask your manufacturer about their preferred file extension. Do not confuse these with (and do not use) STL files. Those are good for 3d printing but extremely difficult to edit.
It is a good idea to quote with several vendors. You do not want to lock yourself and your product to a single manufacturer that could suddenly jack up the prices and leave you in the lurch.
A few things to keep in mind when asking for quotations:
- Is packaging included?
- Are the lead times clearly stipulated?
- Are there any extra costs not included in the quotation?
- Shipping and FOB?
Week 3
This week is very interesting from the business side of your project. You will find out if cost, lead times and margins are within your expectations. It is time now to work on the budget for your product. We will discuss distribution channels and profit margins later on, but do not get too enthusiastic with pricing yet. Many costs still have to be taken into consideration before breaking a profit.
Have three or four prototypes made from three or four vendors ASAP. We need them by next week!
Week 4
Some prototypes can take a week or less to make, while others might take longer. Perform destructive tests on a few of them, use them to their limit and beyond and see what they are made of. Time to choose the vendor with the best overall terms and quality, and if there is something to improve or change, now it is the time to discuss that with your vendor.
If your product is made with plastic injection or similar processes, we should move on to mold making now. If not, time to approve production! This is when wallets start to get a bit slim.
We have done so much and there is still a lot to do, so let’s keep up the pace. In our next entry, we will talk manufacturing and distribution channels!
