Recently I had a client give me an idea for a new product he had been thinking of and then ask me for a Gantt Chart (Gantt Charts illustrate the start and finish dates of the terminal elements and summary elements of a project) for the project. I tried to explain that creating such a… Read More
Have you ever imagined what kind of product you would develop if money was no obstacle? Maybe that product is not as far out of reach as you might think. Sometimes when I ask our customers this question, the answer I hear is some kind of internet connect, color touch screen, portable wiz-bang calculating device…. Read More
A Requirements Document (RD) is the first step to creating a great product. Because it is the first step, an RD has the greatest leverage of all product development activities. A small error in the direction at this stage can make a big difference in were the product ultimately ends up. Good is the enemy… Read More
Decision making is fundamental to any professional activity. The study of “decision bias” is a fascinating subject. These studies show that the root cause of most faulty decision making is the wrong assumption. One of the most common faulty assumptions in the product development world is that the development budget and time is an obvious… Read More
Small companies do not have significant sales volumes to offset development cost. They must keep product development budgets reasonable, without sacrificing quality. However, they often have smaller and inefficient teams. They also have less than complete processes and long product life cycles. What should a small company do? Here are the top 3 methods for… Read More
To outsource or not to outsource? It’s a question that arises again and again in small companies. Why? Because technology is evolving rapidly, and many small companies are struggling to fund the fixed cost of a full-time team with the necessary diversity of skills needed to stay competitive. For years, small companies have been developing… Read More
Some of the myths about raising money are all too familiar. “I just need to be introduced to the right person.” “I will put my idea on one of those crowdfunding platforms.” “Once my prototype is done, everyone will want to fund me.” Or, my favorite, “We will bootstrap with [students/interns/work for stock] people.” Raising… Read More
“The future ain’t what it used to be.” Yogi Berra Sometimes product development projects do not live up to their initial promise. Knowing when to shut down a project can be an important ingredient to success. Most new product ideas start out with great expectations, but over time, some start to fade. Worse, this process… Read More
The prototype is all done and it seems to work well. Now, how do you get the prototype manufactured reliably and at a reasonable cost? If you’re like a lot of small companies, this is not something you do all the time. Finish Line has done more than one thousand projects for more than 300… Read More
There are many more ways to pay for product development than you may realize, including not paying for it at all. What is right for your situation will depend on your exact circumstances. You may wish to review the following before starting your next product development project. 1. Employees: Most of us are familiar with… Read More