171: Choosing Features and Validating Your Invention

Published: April 13, 2023, 8 a.m.

b'Tony Ulwick is the CEO of Strategyn, a company that has been in business since 1991 doing strategy consulting for high-growth innovative hardware companies.\\xa0He is the author of two books, and has had his articles published twice in the Harvard Business Review. He started out in the early days of his career as a design for manufacturing engineer at IBM.\\xa0Today Tony is going to share some valuable knowledge for inventors, startups, and small manufacturers on how to create hardware products that people want, why people buy your consumer product, and how to validate your invention idea through additive manufacturing in the market.\\nToday you will hear us talk about:\\n\\nHow do you create products that people want.\\n\\nFigure out what your customer wants.\\n\\nWhat is the reason that someone is buying your hardware product.\\n\\nDefine the market as a group of people that have a job that needs done via a hardware product.\\n\\nDefine the needs of the customer to figure out what they need to complete the job.\\n\\nDesired outcome statements that your hardware product.\\n\\nDimensions to design something better are faster, more predictably, or great result.\\xa0You should learn this about your customer.\\n\\nYou want to address the most unmet need.\\n\\nAn outcome of a job that is highly underserved.\\xa0This is the most efficient path to growth.\\n\\nWhat are the fewest number of features that we could have to hit the largest segment of customers.\\n\\nFeatures come in all over the place as a hardware startup, so you need to be very clear on what features you need.\\n\\nStart with the feature that you want, then figure it out with the customer.\\n\\nHow important is the feature to the customer, and how satisfied are you with the current solutions.\\n\\nIf you validate the opportunity, ensure that you design a great product offering to match that.\\n\\nShort-run manufacturing is very helpful to validate the idea, at a low cost, and learn from your customers on what will fit the market in scale.\\n\\nHe talks about only one feature.\\n\\nIf you can have someone improve by 15% or more, you will have an amazing product.\\n\\nWhat is that one need that is underserved in the market.\\n\\n\\nEPISODE LINKS:\\nTony Ulwick Links:\\nLinkedIn | Website\\n\\nThe Product Startup Podcast Links:\\nhttps://www.ProductStartup.com/\\nInstagram | LinkedIn | Facebook Page | Facebook Group | Pinterest | Twitter | YouTube\\n\\nMako Design Links:\\nhttps://www.makodesign.com/\\nYouTube | Instagram | LinkedIn | Facebook | Pinterest | Twitter\\n\\nKevin Mako Links:\\nInstagram | LinkedIn | Quora | Facebook | Twitter\\n\\nPartner: PTC\\u2019s best-in-class software solutions Onshape: The only cloud-native product development platform that delivers full-featured computer-aided design (CAD), integrated product data management (PDM) and enterprise analytics in a single system, and Creo: 3D CAD solution that provides designers with the most innovative tools to build better products faster, such as generative design, additive manufacturing, real-time simulation, IIoT, and augmented reality.\\n\\nProducer: 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.'