Before the Crowdfund: What You Need to Know
We have seen how crowdfunding has dramatically impacted the Hardware Revolution but at the same time we have also seen the obvious negative fallout due to teams simply not realizing the complexities around manufacturing.
- How much money you really need to raise (what will the cost or you tooling be? Are your COGS accurate and be the basis for an accurate BOM that accounts for all costs from labor to packaging to scrap?)
- What is the realistic timeline to build and deliver your product? Giving your customers an accurate delivery that accounts for potential delays ahead of time means less disappointment down the road
- What is the status of your Design for Manufacturing? (from the paper sketch to the final product in design for manufacturing, there are typically 8 stages in between — where are you really at?)