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Building Lean Hardware Startups from concept to retail is tricky and full of death traps! ...

Building Lean Hardware Startups from concept to retail is tricky and full of death traps!

Learn how to master the 'Envy You' curve, like all successful startups do...

Great Makers Ship. Others...

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Great makers ship Great makers ship Presentation Transcript

  • GREAT MAKERS SHIP BUILDING LEAN HARDWARE STARTUPS #LeanHW
  • @BENJAMINJOFFE •  13 years in Asia (CJK) •  Founder of web/mobile strategy consultancy +8* •  Speaker @ 150+ events •  MobileMonday Beijing founder (35 events) •  11 angel investments •  Now in hardware with HAXLR8R
  • 2014 YEAR OF HARDWARE
  • 2014: Year of Hardware
  • HARDWARE RENAISSANCE PROTOTYPING IS SOLVED Arduino / Pi / 3D printing / Sensors / BLE / Smartphones / Cloud SUPPLY CHAIN IS BETTER THAN EVER –  China (Shenzhen) has the whole chain –  Fast, Affordable, Scalable MORE FUNDING –  KickStarter (200,000 HW backers!), IndieGoGo –  More VC & Angel money
  • LIFE OF A HARDWARE STARTUP
  • FROM CONCEPT TO RETAIL 1.  2.  3.  4.  5.  6.  Concept Minimum Functional prototype (MFP) Complete Functional Prototype (CFP) Design-for-Manufacture (DFM) First factory run (FFR) Retail
  • LEAN HARDWARE RULES “No hardware plan survives contact with a factory” Cyril Ebersweiler, Founder of HAXLR8R 1.  2.  3.  4.  5.  Design with the right components A prototype is ready when it can be manufactured Your factory is your most important partner Be memorable Pick the right business model
  • HARDWARE’S DEATH TRAPS What is your NVU plan?
  • THE NVU CURVE If you others survive i t, will en vy yo u! $$ N V PROTOTYPING Founders Friends Family Fools Accelerators Angels PRODUCTION U SCALING Crowdfunding Sales POs Banks VCs Pre-orders Bridge of Dea th TIME
  • GOLDEN RULE OF LEAN HARDWARE GREAT MAKERS SHIP
  • BUILDING WITH CHINA
  • THE APPLE CASE BEFORE Asia was cheaper TODAY Factories in Asia can scale (up and down) faster Asian supply chains have surpassed what’s in the U.S. (Labor cost is a minimal factor) RESULT “Made in the U.S.A.” is no longer a viable option for most Apple products.
  • •  In Shenzhen (hardware capital of the world) –  Cash + Mentoring –  Components all around to iterate faster –  Source suppliers –  Get ready to manufacture (and crowdfund) •  29 startups •  16 crowdfunding campaigns (avg. $250,000)
  • FROM PROTOTYPE TO PRODUCTION $$ Accelerator program PROTOTYPING Founders Friends Family Fools Accelerators Angels PRODUCTION SCALING Crowdfunding Sales POs Banks VCs Pre-orders Bridge of Dea th TIME
  • HARDWARE IS NOT THE KEY •  Pure hardware is commoditized quickly •  A better way –  Combination HW+ SW –  Strong Positioning (‘a better way to catch mice’) –  High quality, high margins (rather than low cost) –  Lead Mindshare (media + marketing + reviews) –  Timely Financing and Distribution
  • SUMMARY
  • IT’S STILL CALLED HARDWARE FOR A REASON… •  LONGER CYCLES than software •  NO “MVP” (bad ratings will kill you) •  BROADER SKILLSET needed (electrical + mechanical + software / design / manufacturing / financing / distribution) •  MORE BARRIERS to reach customers
  • ON THE BRIGHT SIDE •  LEGO was fun, hardware is fun too •  Better ecosystem than ever before •  Less competitive than software •  People pay for things
  •  BENJAMIN@HAXLR8R.COM @BENJAMINJOFFE   APPLY WWW.HAXLR8R.COM