10 services that transform your idea into a successful product
What services do you need for creating your new product?
It is a courageous step to go out and create a new physical product that helps improving people's daily lives. As an industrial designer, I get approached by people who want to do just that. Sometimes, they underestimate the costs that are associated with the journey from idea to manufactured product.
There is no general estimate for the costs of developing a new product, but I've listed the services below that are often needed when you're developing a new product.
• Research
Depending on the type of product, this could include market research, consumer behavior, research about new technologies, materials, and other product developments in the industry around your invention.
• Industrial design / Product design
This is the actual design of the physical product. After this process, it is clear what the product will be like and how it can be manufactured. It would be best to work with a designer that knows about production techniques. It might cost more upfront, but you'll avoid costly mistakes.
If you're not ready yet to buy a fully manufacturable design, you could start with asking for a more rough design. The designer could then generate photorealistic images (renderings) of an approximate representation of what the final product could look like. It would be a more cost effective option. You could discuss these images with investors or potential users of your product.
• Packaging design
Many companies highly value their packagings. A packaging can influence the first impression of a customer with the product. If you provide a great unboxing experience to your customer, that impression is one that lasts! Furthermore, it is a great opportunity for expressing the values and corporate identity of your brand.
• Sourcing
Finding the right manufacturers for both the product and packaging can be a time consuming task. Discussing the product requirements into the finest details also takes persistence and patience. Hiring someone to assist you through the process makes it a lot easier.
• Prototyping
I often advice my clients to order a prototype directly from the manufacturer they would like to work with. If you do so, it will give an idea of what you can expect from working together and see if the capabilities of the manufacturer fit your expectation.
• Protecting your product
It is wise to protect the intellectual property rights of your invention if you'd like to be able to stop others from copying or using it. You could hire patent experts to help you with a patent search to see if your idea is really novel and then to help you out applying for patents.
• Manufacturing
Manufacturing your products will cost money, because of the labor, tools, materials, and energy involved in creating the products.
For many types of products, manufacturers might not take you seriously if you have a minimum order quantity (MOQ) that is lower than 1000 pieces. For one of the most widely used production techniques, injection molding, the costs for the mold alone can go up to 100k USD if the product is large and/or complex.
A general rule of thumb is that the more products you order, the lower the price is per product. However, the total price still increases with every extra product you order.
Luckily, if you're looking for smaller quantities, for some products there are ways to get past these high initial costs. For example, if your product is suitable for and optimized for 3D printing or CNC milling (computer controlled milling). 3D printing and CNC milling are more versatile than other production techniques in terms of output without the need for a specific mold.
From a certain amount of products, it is often still more cost efficient to buy a mold for your product, but if you're willing to test a batch of let's say 100 products first, 3D printing or CNC milling might be a solution for that.
• Shipping
All products need to get from the manufacturer or supplier to one or more distribution centers.
• Marketing
In order for people to be aware that your new product exists, promoting your product one way or another is essential. The importance of marketing your product should not be underestimated. Potential customers should be able to find your product easily in order to buy it and profit from it!
• Distribution
The products need to be distributed to stores or directly to end users.
If you're not quite ready yet to invest in all the above services, and self-funding is not an option at the moment, there must be a way to come up with the funds. One of my clients started up production after a successful Kickstarter campaign. So, crowdfunding is one of the options. More traditional methods would be applying for a business loan from your bank or collaborating with investors. If you'll develop the product as part of a new business, look into how startup incubators and business development centers can assist and possibly help fund your product development.
If you believe your product can help people improve their daily lives, never give up!
