Crowdfunding for startups is a game changer. It is a as close to a market crystal ball as it gets. If a campaign succeeds, the first production is already sold out before production even began. If a campaign fails, the market is telling you the idea needs work and prevented real failures. It’s a win-win, win or lose.
However, crowdfunding also hides the complexity of the journey afterwards. All too often, first time campaigners do not realize the pitfalls in producing and shipping the product. Below are just some of the advises that come to the top of our heads.
Design for Manufacturing
Inventors often think (with good reason) that putting together the prototype is the hardest part of product design. After a successful campaign and flushed with funds, it is understandable to assume that factories can easily “copy and paste” out products. Unfortunately, “Zero to One”is a completely different ball game from “One to Many”. A handful of prototypes can be done with expensive methods, but factory production demands top efficiency. This is called Design for Manufacturing, or DFM for short.
We sometimes use cooking as an analogy. Your homemade dish is a labor of love focused on the dining experience. The same cooking methods will not work at a fast food joint because it takes too long to cook and feed the hungry mob.
Plan for Production Hiccups
Factory life is full of hiccups. Late shipments of electronic components. Too much glue on certain parts. Off-color paints. 2-week-long Chinese New Year holiday (this is our favorite). These unplanned incidents always happen and they can throw off the best-laid plans by weeks, if not months.
Our Crowdfunding Consulting Services Can Help
Our expertise in hardware and software, combined with our proximity and good relationship with the Shenzhen ecosystem allows us to create, iterate and produce hardware products much more efficiently than most design houses in the world. This helps identify problems early and often, keeping costs and schedules under control.
We also eat our own dog food. Our team created Aumeo, a top 5% project on Indiegogo of all time, and now a stand-alone company. Our crowdfunding consulting services can do the same for you. We have openly shared our crowdfunding tips and leanings on speaking engagements and we are happy to talk with you!