Great makers ship
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Transcript of Great makers ship
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GREAT MAKERS SHIP���BUILDING LEAN HARDWARE STARTUPS
#LeanHW
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@BENJAMINJOFFE
• 13 years in Asia (CJK) • Founder of web/mobile
strategy consultancy +8* • Speaker @ 150+ events • MobileMonday Beijing
founder (35 events) • 11 angel investments • Now in hardware with
HAXLR8R
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2014���YEAR OF HARDWARE
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2014: Year of Hardware
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HARDWARE RENAISSANCE PROTOTYPING IS SOLVED Arduino / Pi / 3D printing / Sensors / BLE / Smartphones / Cloud
SUPPLY CHAIN IS BETTER THAN EVER – China (Shenzhen) has the whole chain – Fast, Affordable, Scalable
MORE FUNDING – KickStarter (200,000 HW backers!), IndieGoGo – More VC & Angel money
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LIFE OF A HARDWARE STARTUP
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FROM CONCEPT TO RETAIL
1. Concept 2. Minimum Functional prototype (MFP) 3. Complete Functional Prototype (CFP) 4. Design-for-Manufacture (DFM) 5. First factory run (FFR) 6. Retail
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LEAN HARDWARE RULES “No hardware plan survives contact with a factory”
Cyril Ebersweiler, Founder of HAXLR8R
1. Design with the right components 2. A prototype is ready when it can be manufactured 3. Your factory is your most important partner 4. Be memorable 5. Pick the right business model
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HARDWARE’S DEATH TRAPS
What is your NVU plan?
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THE NVU CURVE
Founders Friends Family Fools
PROTOTYPING
PRODUCTION
SCALING
TIME
$$
Crowdfunding
Accelerators Angels
Sales POs Banks VCs
Bridge of Death
Pre-orders
N V U
If you survive it, others will envy you!
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GOLDEN RULE OF LEAN HARDWARE
GREAT MAKERS SHIP
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BUILDING WITH CHINA
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THE APPLE CASE
BEFORE Asia was cheaper TODAY Factories in Asia can scale (up and down) faster
Asian supply chains have surpassed what’s in the U.S. (Labor cost is a minimal factor)
RESULT “Made in the U.S.A.” is no longer a viable option for most Apple products.
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• In Shenzhen (hardware capital of the world) – Cash + Mentoring – Components all around to iterate faster – Source suppliers – Get ready to manufacture (and crowdfund)
• 29 startups
• 16 crowdfunding campaigns (avg. $250,000)
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FROM PROTOTYPE TO PRODUCTION
PROTOTYPING
PRODUCTION
SCALING
TIME
$$
Bridge of Death
Founders Friends Family Fools
Crowdfunding
Accelerators Angels
Sales POs Banks VCs
Pre-orders
Accelerator program
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HARDWARE IS NOT THE KEY
• Pure hardware is commoditized quickly
• A better way – Combination HW+ SW – Strong Positioning (‘a better way to catch mice’) – High quality, high margins (rather than low cost) – Lead Mindshare (media + marketing + reviews) – Timely Financing and Distribution
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SUMMARY
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IT’S STILL CALLED HARDWARE FOR A REASON…
• LONGER CYCLES than software
• NO “MVP” (bad ratings will kill you)
• BROADER SKILLSET needed���(electrical + mechanical + software / design / manufacturing / financing / distribution)
• MORE BARRIERS to reach customers
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ON THE BRIGHT SIDE
• LEGO was fun, hardware is fun too
• Better ecosystem than ever before
• Less competitive than software
• People pay for things