[Ryan Walker] may have written up his observations a few years ago, but the lessons are just as relevant today as they were back then. He shares five easy ways to sink your hardware startup.
It’s a reminder that while hardware startups are unique, there are basic business realities that still apply because the hardware itself is going to be only one part of a whole. These business fundamentals can be a drag, but it’s worth giving them some attention. But if that’s not your jam, no worries. As [Ryan] experienced, they will explain themselves one way or another.
A good one is skipping market research. Do customers actually exist for this thing? Or forgoing market testing — do the customers actually want it enough to pay for it? One of the worst things to be stuck with is a product that everyone likes, but nobody wants to buy.
Premature optimization is another good one that a number of our readers can probably relate to in one way or another. It’s one thing to buy a tool or a part that one doesn’t end up needing, but when that gets scaled up it can put a real dent in a fledgling business’s development.
We’ve also shared insights on what it takes to develop a product and get it out there, whether as a solo entrepreneur or as part of a larger team, to help nudge the process toward success.