Liz Long, founder of Learn to Make a Product a platform that supports customers to launch products, shares some of her new product launch tips and thoughts about what it takes for entrepreneurs to go through the development process and get their new products to market. Liz herself is a successful entrepreneur who bought a range of reusable bags to the market in the USA which sold for many years. She's also helped hundreds of people realize their products over the years, so let's draw on her … [Read more...]
What’s The Investment Required To Bring My New Product To Market?
A lot of entrepreneurs and SMEs struggle to calculate their investment for launching a new product. This can lead to unexpected costs mounting up and, eventually, needing to sell at a loss or even bankruptcy in extreme cases. So you need to know which costs to calculate, what elements are built into the costs, and how to launch a new product in a less financially risky way. Let's get into those topics here. … [Read more...]
Product Quality and Reliability Issues: Typical Classification
What are typical product quality and reliability issues, when do they occur in the product's lifecycle, and who might be responsible for them? … [Read more...]
Is It Beneficial To Be First To Market With Your New Product Idea? [Podcast]
![Is It Beneficial To Get To Market First With Your New Product Idea? [Podcast]](https://qualityinspection.org/wp-content/uploads/2021/09/IsItBeneficialToGetToMarketFirstWithYourNewProductIdeaPodcast-1140x445.jpeg)
In this episode... A recent China Law Blog article questions the wisdom of rushing out your innovative new made-in-China product in order to 'beat the copycats' to market. While there are some situations where this may have some merit, sacrificing IP protection for speed seldom makes sense as you'll find out in this episode. What are the benefits and are they outweighed by the risks? What should you do to protect IP? When is the 'right time' to go public with your exciting new product and … [Read more...]
New Product Launch: Taking Shortcuts vs. Preventing Risks
You are developing a new product. There is currently nothing like your product on the market. You have high confidence that it will be successful (otherwise, why are you working on this project?). You need to make a choice. Do you want to do things fast? That's tempting, because who knows what the market will look like in 12 months. Or do you want to do things right? That means investing money and time in de-risking your project. Let's look at what these 2 approaches mean, in … [Read more...]
Why New Product Development of Electronics Takes So Long
Over the years, we have been talking to people who are planning to or are in the process of, developing a new product. And there is a very serious mismatch between expectations and reality during the new product development process. So serious that people who are just starting on that path often cannot accept a realistic plan. Unrealistic expectations In their minds, there are only a few steps and a few success milestones. It looks a bit like this: Harsh reality However, … [Read more...]
So, You Are an Inventor Looking for a Manufacturer? Think Again.
We are regularly contacted by self-described inventors who believe very hard in their product idea but do NOT want to manage that product’s development, production, and sale. They are often smart people, brilliant even. But they tend not to be business savvy, and that leads many of them to make costly mistakes. This is especially true for electronic products and relatively complex mechanical products. The million-dollar invention fallacy The truth is, the proportion of new … [Read more...]
Why Pilot Runs Are So Important [Podcast]
![Why Pilot Runs Are So Important [Podcast]](https://qualityinspection.org/wp-content/uploads/2021/04/WhyPilotRunsAreSoImportantPodcast-1140x445.jpeg)
Pilot runs aren't just a 'good idea,' they're a must when manufacturing new products as you are about to find out... Renaud and Adrian from the team explore an important part of the new product launch process: pilot runs. In this episode, they'll be exploring the following questions: What is a pilot run, why is it so important when bringing new products to market, and what are the benefits we can expect when performing them before going into full production? After listening you will see … [Read more...]
Dangers of Amortizing Development Costs in the Production Price
When I offered a model for guiding buyers to choose an ODM vs. OEM vs. CM supplier, I mentioned that OEM suppliers often "subsidize" the cost of developing the new product. Then, the buyer ends up paying the cost of development, but it is "amortized" in the unit cost of the product. I'd like to explain why, in the context of when manufacturing a new product, that can be dangerous for the buyer. … [Read more...]
From New Product Design to Production: What Is on the Customer’s Plate?
Many people contact us with an idea for a new product they want to develop... and nothing else. We usually explain that they are not ready for talking to China-based manufacturers until they have done more 'homework'. Over the weekend, I listened to an episode of the Predictable Design Podcast (The Importance of Defining Project Milestones), which covered the main steps every new company that wants to manufacture a new physical product has to go through. It is a great listen. It inspired … [Read more...]