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

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 where the product ultimately ends up. Good is the enemy… Read More

I never met a startup that was not positive they would succeed.  Indeed, overconfidence is a necessary talent for becoming an entrepreneur; if only it was a sufficient one as well we would not see 95% of startups fail. All entrepreneurs believe in themselves and their company; but in far too many cases, these same… Read More

We have a lot of interactions with CMs (Contract Manufacturers). These companies are amazing—they can do ten thousand things and not make a single mistake. Their business must work this way to stay competitive. Product development, on the other hand, is different. In product development, you are lucky if you do 10 things and get… 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

In these challenging times, we see a lot of companies trying to figure out how to enter new markets. Many companies have found their markets have shrunk, or even disappeared. Even companies that have been unaffected are starting to wonder if they should diversify. But exactly how do you enter new markets? If you are… 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

Sometimes it is just as important to know what not to do as it is to know what to do. Ignoring product development will result in your business going away. This may seem like an obvious statement, but it happens much more often to small companies than it should, and let me try to explain… Read More

It is no secret that a functional team will always outperform a dysfunctional one. Any sports fan will tell you the coach’s ability to get the team to work together as a team will always outperform a group of dysfunctional superstars. But, how do you tell if your team is dysfunctional? Look for these 5… Read More

I just finished reading the book “The Three Rules“. This academic team attempted to find “rules” of biz that are ALWAYS true. They found three: Rule #1: Better before Cheaper Rule #2: Revenue before Cost Rule #3: There are no other rules. “Better before Cheaper” means that if you are faced with a choice between… Read More