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

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 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 entrepreneurs… Read More

Few would disagree that the iPod saved Apple from bankruptcy, but it was not just about the idea of a digital music player. There were at least 20 other digital music players on the market long before Apple started the project. Apple understood at a profound level that the requirement of “easy-loading songs” was essential,… 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

What’s the most common complaint managers of small businesses have about product development projects: it always costs too much and takes too long. Albert Einstein once said: “we cannot solve our problems with the same thinking we used to create them”. If you want to reduce product development time and money, then you are almost… 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

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

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

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