WORST DAY Bringing a New Product to Market

Get your free Ultimate Guide - How to Develop and Prototype a New Electronic Hardware Product in 2023: predictabledes...
And get your other free guides:
From Prototype to Production with the ESP32: predictabledes...
From Arduino Prototype to Mass Production: predictabledes...
From Raspberry Pi Prototype to Mass Production: predictabledes...
Prevent mistakes by downloading my DESIGN REVIEW CHECKLISTS for the schematic circuit, PCB layout, and enclosure 3D model design: predictabledes...
Want my personal help on your project? If so, check out my Hardware Academy program: predictabledes...

[@lunayang3713]

Thank you for sharing your experience, John! Although I’ve listened to it on podcast, I’m still so hooked by this video that I feel like I’m experiencing the ups and downs myself. It’s inspiring to those of us who are going through the highs and lows of bringing a product to market.

[@PredictableDesigns]

Hi Luna, that makes me so happy to hear! Being an entrepreneur can be a very lonely experience and at times you feel like you are the only person in the world that is experiencing these highs and lows. Also those non-entrepreneurial friends and family around us can never really appreciate what we are going through. But every entrepreneur has these ups and downs. We need the "ups" to keep us motivated and pushing forward, but we also need the "downs" to keep us humble and grounded. The downs also help to make it so bringing a new product to market isn't so easy that everyone does it:) Definitely plan for those low down points so you can be prepared when they hit. Many times they can feel like the end of the world which is how I felt on my worst day, but the key is to learn from it and get back up and keep pushing. Thanks again for the feedback!!

[@keysnake-ai]

Thank you John for an interesting story. I'll admit I watched with the sound muted and the subtitles on because the background stock music was driving me crazy. Your wonderful voice is music enough.

[@PredictableDesigns]

Thank you. Don't worry and I rarely use music but wanted to try something new. Thanks for the feedback!

[@adedayoadewale224]

Your narration was so good that I literally FELT everything you went through. Quite an inspiring journey!!

[@PredictableDesigns]

Thank you Adedayo! Glad you found it inspiring.

[@GRUMO]

Coolio! Lots of new details about your story that I didn't know. Also, the production value of your videos has gone through the roof! Well done John!

[@PredictableDesigns]

Hey Miguel, thank you so much and I really appreciate that. I definitely had lots of room for improvement:) My goal is to just make each video a bit better than the last one. I've never been serious about creating KZbin videos until the past few months, but it is definitely a top priority for me now. Always great to hear from you! Hope things are going well with Palocam!

[@printlife9016]

Hearing your story about the difficulty you went through is a lot more valuable than reading successful business stories. I believe the mistake you made would also happen to me if I'm taking the same path for the product development. Thanks for sharing!

[@PredictableDesigns]

Thank you! Yes, sometimes the most valuable lessons come from hearing the personal experiences of others who either did or are trying to accomplish similar goals to your own. I definitely made a lot of mistakes, but I also did lots of things right, and I want to share the good, bad, and the ugly of what it takes to bring a new product to market. Thanks again for the comment!

[@harima2710]

Great one

[@PredictableDesigns]

Thank you Hari!

[@sabachuguashvili6073]

wow what a good story, thanks my guy. it gives me a really understanding of my situation, and even stomach feeling :) i am starting also like you and because of this understanding i will do it much better with my confidence. ;) cheers!

[@PredictableDesigns]

Thank you Saba, glad to hear it resonated with you:)

[@johnaweiss]

1:01 I thought online sales lower sales and marketing costs? Isn't that, like, a HUGE reason online sales have exploded? By enabling very small sellers to open a storefront without typical brick and mortar costs?

[@PredictableDesigns]

Hi John, great question and I should have probably explained that better, sorry if I confused you. Yes, your profit margin will definitely much higher when selling online. However, online sales can be problematic for very low cost products. My product only sold for a few dollars, so the shipping costs for one unit cost more than the product itself. Also it costs money to get a customer to your website and its very difficult to recover those costs if the customer only spends a few dollars. So these two facts made it unrealistic for me to try to scale much if only selling via my website. I did eventually get Amazon to carry the product and I think they only sold my 3-pack just to get the price point a bit higher. There it makes more sense because people can buy lots of other things that go with the same order, versus only shipping my small product if they purchased via my website. Thanks for your question!

[@setitthen]

Comment I'd like to to ask regarding bringing a product to market is knowledge and understanding. E.g technical knowledge. I watched some you tube videos where it's said you don't need any technical knowledge. You can just say to someone you have a great idea for a product and get them to make it. This to me does not make any sense at all. How can you have the confidence to deliver a hardware product or give a technical discussion when you don't have knowledge and understanding of the tools for the job and what it takes. Tradesmen spend years learning the trade and being on the tools. Before setting up their business. I think technical knowlede helps you avoid the traps. I also think business sense comes from experience of being in that particular market or trade. Hence a tradesman knows their trade and they are good at business to. Hardware design is not easy at all it is hard work and a lot of stress you have to be driven and determined to succeeded and never give up hope! I think I'm getting there .....I can see light at the end of the tunnel!

[@PredictableDesigns]

My thoughts on technical knowledge are that you need to at least know enough to be able to effectively manage others doing the technical work, but you don't need to be so technical that you do the design yourself. How can you ever judge and manage the work of others if you have no understanding at all of what they are doing? I think it's a dangerous game for someone totally non-technical who is also resistant to learning new technical skills to try to bring a new electronic product to market. You must be open to learning new things to have a real chance at success. The route you mention of having a "great idea" and then just expecting someone else to actually develop it and bring it to market rarely works. That is a huge risk and also opens up people to potential scams from invention companies who claim they will develop and market your product. I agree completely that you also need some business knowledge which is absolutely critical to bring a product to market. Whether it being technical topics or business, you need to be adaptable and always open to learning new things, and to finding the right people to help you fill in any gaps in your own knowledge. Thanks for the comment!

[@educationaltechnology8363]

first like😃

[@PredictableDesigns]

Thank you!

[@freznelite]

All of that just to have a chance to sell an LED light...

[@PredictableDesigns]

Yep, that's right.

[@freznelite]

​@@PredictableDesigns Have you ever wondered how much human life is spent bringing even the simplest products to our door? How many equivalent lifetimes were spent building the last iPhone generation? How much of your lifetime has been spent on each one of your products?