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Lessons in prototyping: Choosing the right approach to product development

When approaching prototype creation, you must make a series of decisions. This expert weighs in with her expertise. Photo courtesy

When embarking on the journey of developing and bringing a new product to the market, you as an inventor have to consider a multitude of aspects that add to the overall market success of your final product. And prototyping is one of the key product development stages that helps you achieve that.

Whether you're going to launch a hardware or a software product, or the combination of both — you need to have a prototype made. First, it allows you to validate your idea and see if it's worth investing time and money into. Second, it creates opportunities for product improvement, detection and elimination of design flaws, and cost reduction, especially during manufacturing.

Therefore, you will need to make a set of choices before you actually build a prototype to ensure that it results in a viable, cost-effective, and quality market-ready product. Let's look at major choice points and their implications that will help you navigate the process in the most efficient way.

To begin, let's look at the various options you have.

The success of any process lies in its foundation. Hence, before anything else you need to decide on the product development approach you're going to follow. Some inexperienced inventors, for instance, choose to go from product idea straight to having a prototype made. They skip three initial steps that are crucial for building a sound road map of the development process and creating a product with a maximum market potential.

In most cases, those inventors end up coming to companies that build prototypes to start from scratch. Usually, it's because they hit a dead end with their prototype or a product was manufactured with many defects. The latter is always a result of improperly optimized pre-production prototype, if optimized at all.

The extensive experience of our product development team shows that a methodological approach to the entire process, prototyping in particular, yields the most effective results. That's why we always recommend it to those inventors who choose to DIY their prototype. If you're one of them, here is a short version of the approach with steps it implies that you can use prior to prototyping. You can find the in-depth version here.

1. Product discovery

To set the path for the development of your idea you need to identify your product's strengths, weaknesses, opportunities, and threats. In other words, you need to conduct a SWOT analysis, which will help you learn about:

  • intellectual property opportunities
  • your competition and target market
  • features your product should have
  • time and cost of your idea development.

2. Concept design

Based on the results of the SWOT analysis, you can establish the road map of the development of your product and get to creating a concept or industrial design. Concept design is a virtual representation of your idea translated into 2D renderings and 3D CAD models that show you a rough look and functions your product will have. These should be built in accordance with preferences of your target audience to ensure the product's market fit. Concept design is usually made by a professional Industrial Designer. But if you have a basic knowledge of how to use industrial design software applications, then you can make it yourself.

3. Market and prior art research 

Another important step before prototyping is gathering and analyzing feedback from potential consumers. This is done through market research. With a concept design developed, you can conduct focus groups and consumer surveys to understand if the audience likes your idea. The information you get will give you more opportunities to improve your idea and add necessary changes to the design before prototyping, thus reducing the cost of the process and increasing market potential.

Prior Art Search, or research of existing patents, provides some of the benefits as market research. But its main purpose is to identify similar product ideas that have already been patented, so that you can make your product stand out by adding unique features to the design, as well as avoid a conflict of patent rights.

In a follow up article next week, we will discuss more decisions you must make during the prototype process. I have also previously contributed to guest columns on the following:

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Onega Ulanova is the founder of OKGlobal.

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Building Houston

 
 

According to a new report, Rice University's Jones Graduate School of Business has all the ingredients or a top MBA program. Photo courtesy of Rice

Rice University's Jones Graduate School of Business has raked in yet another top spot on an annual list of top MBA programs.

A new ranking from Poets & Quants, which covers news about business schools, puts Rice at No. 3 among the world's best MBA programs for entrepreneurship. That's up from No. 15 on last year's list.

The Olin School of Business at Washington University in St. Louis grabbed the top spot in this year's ranking. Elsewhere in Texas, the University of Texas at Austin's McCombs School of Business lands at No. 14, the Neeley School of Business at Texas Christian University in Fort Worth at No. 35, and the Cox School of Business at Southern Methodist University in University Park at No. 36.

Poets & Quants judged the schools on 16 metrics related to their entrepreneurship initiatives.

Poets & Quants says Rice's Jones Graduate School of Business "itself is less than three decades old. But entrepreneurship was baked into its DNA from the get-go. The late Ed Williams and current professor Al Napier are credited with starting the entrepreneurial focus. But it wasn't until 2013 when Jones plucked Yael Hochberg from Northwestern's Kellogg School of Management that the program really started to surge."

Rice's entrepreneurship offering combines academic courses and associated programs led by the Liu Idea Lab for Innovation and Entrepreneurship (Lilie) with programs offered by the Rice Alliance for Technology and Entrepreneurship.

"The ability to be a student while working on your startup in class, under the expert guidance of our world-class faculty, gives our Rice entrepreneurs a competitive advantage over any others out there," Hochberg, head of the Rice Entrepreneurship Initiative and academic director of the Rice Alliance, says in a news release.

The Rice Alliance's OwlSpark Accelerator supplements the MBA program. The accelerator serves as a capstone program and launchpad for students seeking to start their own businesses. Meanwhile, the Rice Business Plan Competition, the largest intercollegiate student startup competition in the world, lets students pitch their startups in front of more than 300 judges. And the Rice Alliance Technology Venture Forums allows students to showcase their startups to investors and corporations.

"The ability for students to launch their nascent startups, obtain mentoring from members of the Houston entrepreneurial ecosystem, and then pitch to hundreds of angel investors, venture capitalists, and corporations provides a unique opportunity that cannot be found on many campuses or in many regions," says Brad Burke, managing director of the Rice Alliance.

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