In the latest episode of “Selling on Giants: The eCommerce Marketplace Show,” host Victor Dwyer engages in a dynamic conversation with Kevin Mako, an eCommerce expert with a wealth of insights into product development. He talks about “How to Develop Your Own Hardware Product for eCommerce.”
Kevin Mako is the world’s leading expert on product development, specifically for physical consumer product startups. He is the founder of MAKO Design + Invent back in 1999, the original North American firm providing world-class consumer product development services tailored to startups, small manufacturers, and inventors with offices in Toronto, Austin, San Francisco, and Miami. He has worked directly with over 1,000 hardware startups, helping them go from idea to store shelves. He hosts the Product Startup Podcast, the leading product design & development podcast in the manufacturing industry. Kevin lectures in the Masters of Engineering program at Ryerson University sits on a number of entrepreneurship & education boards, holds the Duke of Edinburgh Gold Award designation, and is a private pilot. He is a regular keynote speaker with over 75,000 direct followers on social media.
Kevin walks us through the entire process, from ideation to manufacturing, underscoring the significance of testing, customer feedback, and striking the right balance between pricing and profitability. Kevin emphasizes the transformative potential for eCommerce brands in creating their products, unlocking opportunities for high equity value.
Don’t miss out on “How to Develop Your Own Hardware Product for eCommerce”
Tune in on December 7th, 2023, at 2:00 pm EDT to listen to the whole conversation. Tune on some of BellaVix’s social media:
Key takeaways: / Short Summary:
Here are the top 10 key takeaways from the conversation:
- Consumer-Centric Product Development: Kevin Mako emphasizes the importance of aligning product development with consumer needs. He highlights the distinction between designing a product and designing a product that consumers actually want. Mako suggests that eCommerce brands, armed with customer data and insights, should focus on addressing pain points or fulfilling customer requests to increase the chances of creating a successful product.
- Agile Product Development Processes: Mako discusses the advantages of modern product development methods, such as short run production, additive manufacturing, and crowdfunding platforms like Kickstarter and Indiegogo. These methods allow for faster, cheaper, and easier validation of product ideas. He emphasizes the significance of starting with a minimum viable product (MVP) to quickly test the market and gather feedback.
- Data-Driven Innovation: Mako points out that eCommerce brands often possess valuable data about customer preferences and demands. He suggests that innovators should pay attention to customer inquiries and feedback, as they can serve as valuable insights for product development. Understanding the market and using data to identify potential opportunities are key components of successful innovation.
- Iterative Prototyping and Testing: The speaker outlines a phased approach to prototyping, emphasizing the importance of moving from rough prototypes to mechanical prototypes and, finally, to pre-production prototypes. This iterative process allows for testing and refining the product at different stages, ensuring that it meets quality standards, addresses design flaws, and aligns with customer expectations.
- Collaboration Between Design and Engineering: Mako stresses the collaboration between industrial designers, mechanical engineers, and electronic engineers during the ideation and design phases. He emphasizes the importance of a strong foundation in CAD (Computer-Aided Design) that carries through the entire product development process, from design to engineering, prototyping, and manufacturing. Recognizing the roles of designers and manufacturers separately is crucial to avoid common pitfalls in hardware development.
- Strategic Importance of Final Prototypes: The final prototype is a critical milestone in product development, signaling that the design is close to 95-99% of the actual production unit. It serves as an opportunity for pre-selling and generating customer interest, especially for crowdfunding campaigns or pre-sales strategies.
- Design for Manufacturing (DFM) Significance: Locking down the Design for Manufacturing (DFM) in the development phase is crucial. This involves working closely with manufacturing engineers to determine how each part will be made and built. A well-executed DFM ensures a smoother transition from the final prototype to production, minimizing adjustments and potential issues.
- Short Run Manufacturing for Testing: Advocacy for short run manufacturing post-final prototype completion. This approach involves producing a small number of units before full-scale production, allowing for cost-effective testing. This testing phase focuses on evaluating two critical aspects: product-market fit and manufacturing quality.
- Product Market Fit and Manufacturing Quality Testing: Testing for product-market fit involves assessing whether the product solves the customer’s problem and if they are willing to pay the intended price. Simultaneously, the manufacturing quality must meet expectations, ensuring the product functions as promised and holds up over time.
- Brand Building and IP Protection: Developing proprietary products adds significant equity value to an eCommerce brand. Building a brand portfolio with unique products can enhance the brand’s valuation, making it more attractive for funding or potential exits. Strategies for protecting intellectual property, both legally and through brand strength, are emphasized to counter potential challenges, especially when manufacturing in countries like China.
These takeaways highlight the importance of a comprehensive approach to product development, including strategic planning, manufacturing considerations, and brand-building strategies for long-term success in the eCommerce space.
Tune in on December 7th, 2023, at 2:00 pm EDT to listen to the whole conversation. Tune on some of BellaVix’s social media:
Or listen to the previous episodes on the different platforms:
Links:
- LinkedIn – Personal: https://www.linkedin.com/in/kevmako/
- Branded – LinkedIn: https://www.makodesign.com/
“Selling on Giants: The eCommerce Marketplace Show” is sponsored by BellaVix. To learn more, head over to https://sellingongiants.com/
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