We’ve been in the game for about 10 years now, and continue to strive towards becoming even better every day. How do we do it and what’s our secret? Here are 3 crucial steps you must take to stay at the top of your game in order to grow a successful product company.
3 Key Factors in Successful Invention Creation
Keeping these 3 critical factors in mind will lead you in the right direction in becoming a successful product company. Yes, it’s hard work, but if you’re in love with the process and like to be challenged, then you can achieve your goals. Whether you’re aiming to take an intuitive and holistic approach or you’re a by-the-books type of person, these 3 steps will be your best recipe for growing your product company.
Designing For Invention Production
Your design strategy helps you focus on the what, how, and why of the process. What will you design, how will it be designed, and why are you making it? Clearly defining your product and the factors that make it unique, envisioning how the development process will play out, and knowing the people you need to make it happen are key. For example, when we have client meetings here at MAKO, crafting a comprehensive design strategy tells us who we need to assign to this particular project. Do we need our electrical engineer? Is this a job for our mechanical engineer, industrial designer, or both?
We Mean Business
Business is your second ally in invention production. If you’re not a business-driven person, you’ll want to be. There are many online courses, college and university night classes, and even certificates you can get part-time to gain more knowledge on the business front. If you’re an entrepreneur or a startup though, business is most likely in your blood. You have to think innovatively and differently to be a startup. This step involves doing market research and competitor analyses to see what other small businesses are doing. See what’s working and not working for companies that are similar to yours. This will save you time and money in the long run.
Technology Is Your New Best Friend
Lastly, we have technology. A helpful tool, when everything is going smoothly; a tricky unpredictable system when it’s not. Truly, technology is mostly going to bring you success throughout the invention production process though. It can aid in organization and team management, as well as project management. MAKO uses Google Drive as well as other project management software to keep ourselves on track. We recommend doing this so you don’t miss important deadlines, meetings, or client emails.
Growing a successful product company can be tricky at times, but if your heart is in it and you work hard, you shouldn’t have too much trouble. It will all pay off and the satisfaction of growing your startup will be something you can be very proud of.
If you have a great new invention and would like to learn more about this process, get in touch with MAKO here and visit our website to find out more. Feel free to give us a call at 1-888-MAKO and we can set you up on a call with our Senior Product Strategist!
About: MAKO Design + Invent is the original firm providing world-class consumer product development services tailored to startups, small manufacturers, and inventors. Simply put, we are the leading one-stop-shop for developing your physical product from idea to store shelves, all in a high-quality, cost-effective, and timely manner. We operate as one powerhouse 30-person product design team spread across 4 offices to serve you (Austin, Miami, San Francisco, & Toronto). We have full-stack in-house industrial design, mechanical engineering, electrical engineering, patent referral, prototyping, and manufacturing services. To assist our startup and inventor clients, in addition to above, we help with business strategy, product strategy, marketing, and sales/distribution for all consumer product categories. Also, our founder Kevin Mako hosts The Product Startup Podcast, the industry's leading hardware podcast. Check it out for tips, interviews, and best practices for hardware startups, inventors, and product developers. Click HERE to learn more about MAKO Design + Invent!