How much does it take to prototype an idea?
How do I make a prototype demo/artifact for my idea? how much would it take? what is the process like?
To make a prototype you probably want to involve four parts: the industrial design, the circuits/programming, the casing, and the packaging/bar code. One needs to keep the secret while reducing unnecessary waste of time and funds. There are three routes that you can go:
1. Go to an industry design company that can take care of the entire process for you. The cost is roughly 5000 US dollars and 3 months (provided you work hard with them). They can make one or five prototypes. 5000 dollars is really the basic cost - any expensive house may not give you better result.
2. Go to a OEM / ODM house if your product is well established. OEM stands for Original equipment manufacturer and ODM stands for original design manufacturer. Let's say you want to make a branded bar of sop. You can go to an OEM and point at an item and say "print my logo on it", or go to an ODM and say "Make it into the shape of a duck and print my name on it". The cost varies, depending on the product nature.
3. Never approach local incubators hackers facilities etc. They never have right equipment and you are beginning at a place that is too low.
Seven Parallel Consulting is based in the USA. We have experience dealing with prototyping vendors, industry designers, mold makers, electronics rapid prototype makers, etc. We can help you arrange the entire project. Check us out, but you are welcome to try to approach people on your own. Go to the following sites to explore:
Question asked by
May 19, 2020, 1:14:15 PM
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How to turn an interest into a money maker. How to attract people, how to stimulate people to pay, how to make profit, how to make relations, how to keep relations.
How much do I have to give my audience so they can pay me something in return? What do they value? what problem do they search for answers on your own? I want to solve that problem.
Brand means name recognition. A lot of people knows what your company does and what you stand for. Brand is result of long campaign of consistent value provision and media cultivation. Brand helps a company reduce marketing cost.
Whether there are buyer willing to pay or not. For that to happen you must provide extreme value. The entire startup process would be based on guess before the validation. Validation happens in a market, not on the street.
Value is what you give customers beyond the price you charge. Value is effective solution to a problem. The price your customer pays reflects whether the problem is big for them and whether your solution is uniquely effective. Value stems from quality and detailed work.
Marketing means bring your product to the market and bring your message to your customer. Marketing is not salesmanship. Marketing is to penetrate the world of commerce through many barriers and existing networks.
Minimally viable business, or MVC, minimally viable company. A company that scrapes by, full of guess and hope and no traction and sales. When you give your customers things for free they all take it. But they never pay and you can never rent a table at the market.
Minimal viable product. A full artifact of a real product. Something that works ALL THE TIME. You can demonstrate the real effect on real people - not to sell hope. The MVP may not have certain non-essential bells and whistles, but it needs to have appeal value.
Customer is king
A business lives at the mercy of its customers. You provide your customers 10 dollars worth of value and they pay you 1 dollar, not knowing that your company only costs 99 cents to provide the item. The value is not the item - the value is what is attached to the item.
Company culture is based on a company making money. Once your workers are paid, they need to have a mission and aspiration so they are not bored everyday and make trouble in the work place.
A company valuation is cash investment divided by the percentage. As long as your story is good, the valuation will keep coming, and the investors will keeping falling into the line.
Return on investment
Investors are either behind family fortune (never work with them) or for rich clients as investment vehicle. Both need returns 2-3 times better than stock market darlings.
Having found what people want, not just what people may need. Your offering and their acceptance is sure, no longer a guess. You can provide it for profit, and you can indeed making living on it. Traction is sometimes called validation. You are no longer a theater. You have touched nature, and found cash vein.