Manufacturer invested over $100,000 in my new product! Here's how I did it.
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- Опубликовано: 4 окт 2024
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Amazingly insightful channel. Indeed more light needs to be shed on the path of a bootstrapping hardware entrepreneur. Thank you John
Thank you for the kind words!!
Do you did made some IP protection before contacting these companies or in general? Thanks!
Yes I had submitted a Provisional Patent Application (PPA) at that point, which eventually turned into a full patent.
@PredictableDesigns Thank you John, your content is exceptional!
Wait did it cost 100k for the small injection module that your product must have required?
There were 3 molds with 8 cavities each, and yes they cost $100k. Luckily,there are much cheaper options. Low volume molds can be purchased for maybe $2k each. For really low volume, look at 3D printed injection molds.
Hey John, how did you approach and convinced
him to invest in your project ?
The key was I had already made considerable progress. I had a late stage prototype, and most importantly I had written interest from a big company. All this showed them I can execute and I'm not just a dreamer with an idea. Hope this helps.
Hello John
I appreciate your work on the Hardware Academy platform, but my observation is that the subscription prices on your platform are very high, which does not allow beginners or students to learn.
Personally, I am a new graduate. I am trying to enter this field and learn from experienced people like you, but I cannot pay a large sum of money for this platform even though I love its content.
This number is approximately equivalent to my income for more than two months in Africa.
I hope that subscription prices will be reduced
Thank you for your thoughtful post, and I'm sorry it's not something you can afford. The standard plan is $97/month which is a bargain for those in many countries especially considering the amount of money it costs usually to develop and manufacture a new product.
I'm not sure what the solution is, and I can't charge what seems affordable to you in a lower income country, because I live in a higher cost country:)
I can't charge people different prices based on where they live either.
Thankfully I do create a lot of free content too:)
I also commonly hold open house events and open some courses for brief periods.
For the private mentoring plan which is $2995/quarter, keep in mind that's more expensive because it's 1 on 1 with me so I have very limited capacity.
Best wishes!
If you are after electronic design skills I would recommend you to start with capability to make plugin board for Arduino. And regarding product design, there are plenty of prefabricated equipment boxes which can be modified by hand or 3D printed parts.