An idea for new invention in any industry is an exciting time for a company. However, there are significant pitfalls in the steps of moving the idea through the design, prototype and new product development phases.
Unfortunately for many California businesses, missteps along the way can lead to delays in production, costly budget overruns and the abandonment of the project. Sometimes these delays and the inability to stay on the schedule results in losing the market niche as another company is able to move from concept to product and sales to take the market share.
The answers to these very real problems all rest on finding the best company to work with to provide support with design, testing, prototype manufacturing and then new product development.
Know Your Weaknesses
The ability to evaluate your own capabilities and capacities for the project will be critical. By taking a very clear and open look about where you in-house services can complete the work and what you need a design and development company to handle gives you a full picture of what services have to be provided from outside your company.
This is essential in evaluating and comparing different services. Ideally, staying with a company in California will be the best option. This allows for more direct communication, early consultation and design support and even the ability to decrease logistics costs.
Understanding of the Industry
For any services offered by a new product development company, seeking out a company with extensive experience in your industry is important. For specific industries, such as medical equipment and devices or in aerospace or energy, different regulations and standards will be essential to follow.
Asking questions and taking the time to research the design and development company you are considering is essential. Start this process early and before too much time and money is spent on the design to reduce the risk of having to scrap ideas and designs that are not feasible or cost-effective to produce.
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