Practical Guide to Business Start-Up From idea to product Stuart - - PowerPoint PPT Presentation

▶
practical guide to business start up
SMART_READER_LITE
LIVE PREVIEW

Practical Guide to Business Start-Up From idea to product Stuart - - PowerPoint PPT Presentation

Mar 05, 2023 141 likes •538 views

Practical Guide to Business Start-Up From idea to product Stuart Kelly August 2011 #1 Turning technology into commercially viable products 1. What is the end goal? 2. What makes a product commercially viable? 3. Planning a product

slide-1
SLIDE 1

#1

Practical Guide to Business Start-Up

From idea to product Stuart Kelly August 2011

slide-2
SLIDE 2

#2

Turning technology into commercially viable products…

1. What is the end goal? 2. What makes a product commercially viable? 3. Planning a product design & development project 4. Money saving tips

slide-3
SLIDE 3

#3

What is the end goal?

slide-4
SLIDE 4

#4

A typical product development – technical view

Light pipe optical design Reliable docking mechanism High volume injection- moulded consumable Thermal and power management Thermo-electric cooling system

slide-5
SLIDE 5

#5

A typical product development – bigger picture view

Expertise and experience

Employment, profit and economic benefit?

Blood, sweat + tears Cash investment Government grants

slide-6
SLIDE 6

#6

What makes a product commercially viable?

slide-7
SLIDE 7

#7

What makes a product commercially viable?

M A R K E T D E M A N D

S E L L I N G P R I C E

P R O F I T M A R G I N

U S E R B E N E F I T S

R E L I A B I L I T Y

T E C H N O L O G Y

slide-8
SLIDE 8

#8

Planning a product design

A step-by-step guide.

slide-9
SLIDE 9

#9

Planning a product design

A step-by-step guide.

Crucial to understand: It’s never a step-by-step process.

slide-10
SLIDE 10

#10

Step 1: Define your strategy

slide-11
SLIDE 11

#11

Step 1: Define your strategy

THINK ABOUT IT. PLAN IT. ASSESS CONCEPTS. COST IT. REVISIT PLAN. DESIGN IT. BUILD IT. TEST IT. REVISIT PLAN. DEVELOP IT. GET IT RIGHT.

slide-12
SLIDE 12

#12

Step 2: Structure your “organisation”

MARKET UNDERSTANDING TECHNOLOGY & DESIGN MANUFACTURING

slide-13
SLIDE 13

#13

Step 2: Structure your “organisation”

MARKET UNDERSTANDING TECHNOLOGY & DESIGN MANUFACTURING

How much can you manage by yourself ?

slide-14
SLIDE 14

#14

Step 2: Structure your “organisation”

MARKET UNDERSTANDING TECHNOLOGY & DESIGN MANUFACTURING

slide-15
SLIDE 15

#15

Step 3: Define the scope of your project What do I want to develop?

slide-16
SLIDE 16

#16

Step 3: Define the scope of your project What do I need to develop?

slide-17
SLIDE 17

#17

Step 3: Define the scope of your project What can I afford to develop?

slide-18
SLIDE 18

#18

Step 4: Fill the funding gap

slide-19
SLIDE 19

#19

Step 4: Fill the funding gap

SMART: Scotland (www.scottish-enterprise.com) Max grant % of costs Duration

Technical & Commercial Feasibility Study £70,000 75% 6-18 m R&D Project £600,000 35% 6-36 m

Technology Strategy Board Grant for R&D (www.innovateuk.org) Max grant % of costs Duration

Technology Strategy Board Grant for R&D (www.innovateuk.org) Proof of Market £25,000 60% < 9 m Proof of Concept £100,000 60% < 18 m Development of Prototype £250,000 45%* < 24 m *small & micro enterprises

slide-20
SLIDE 20

#20

Step 5: Develop a staged plan

progress

CONCEPTS FEASIBILITY SYSTEM DESIGN DETAIL DESIGN FOR MANUFACTURE MANUFACTURE START-UP STEADY STATE MANUFACTURE PROJECT MANAGEMENT SUPPLY CHAIN MANAGEMENT DESIGN RISK MANAGEMENT AND PRODUCT ROBUSTNESS SKETCHES RIGS TECHNOLOGY DEMONSTRATOR WORKING PROTOTYPES PRODUCT FOR SALE REQUIREMENTS AND SPECIFICATION CONCEPT REVIEW GO / NO-GO DESIGN REVIEW DESIGN FREEZE APPROVAL FOR SALE

DESIGN MANUFACTURE / COMMERCIALISATION FEASIBILITY CONCEPT

slide-21
SLIDE 21

#21

  • 1. CONCEPT
  • 3. DESIGN
  • 2. FEASIBILITY
  • 4. MANUFACTURE

Step 5: Develop a staged plan

slide-22
SLIDE 22

#22

Step 5: Develop a staged plan

slide-23
SLIDE 23

#23

Step 5: Develop a staged plan

progress

CONCEPTS FEASIBILITY SYSTEM DESIGN DETAIL DESIGN FOR MANUFACTURE MANUFACTURE START-UP STEADY STATE MANUFACTURE PROJECT MANAGEMENT SUPPLY CHAIN MANAGEMENT DESIGN RISK MANAGEMENT AND PRODUCT ROBUSTNESS SKETCHES RIGS TECHNOLOGY DEMONSTRATOR WORKING PROTOTYPES PRODUCT FOR SALE REQUIREMENTS AND SPECIFICATION CONCEPT REVIEW GO / NO-GO DESIGN REVIEW DESIGN FREEZE APPROVAL FOR SALE

DESIGN MANUFACTURE / COMMERCIALISATION FEASIBILITY CONCEPT

slide-24
SLIDE 24

#24

Step 5: Develop a staged plan

CONCEPTS FEASIBILITY SYSTEM DESIGN DETAIL DESIGN FOR MANUFACTURE MANUFACTURE START-UP STEADY STATE MANUFACTURE PROJECT MANAGEMENT SUPPLY CHAIN MANAGEMENT DESIGN RISK MANAGEMENT AND PRODUCT ROBUSTNESS SKETCHES RIGS TECHNOLOGY DEMONSTRATOR WORKING PROTOTYPES PRODUCT FOR SALE REQUIREMENTS AND SPECIFICATION CONCEPT REVIEW GO / NO-GO DESIGN REVIEW DESIGN FREEZE APPROVAL FOR SALE

progress

slide-25
SLIDE 25

#25

Step 6: Estimate realistic timescales

CONCEPTS FEASIBILITY SYSTEM DESIGN DETAIL DESIGN FOR MANUFACTURE MANUFACTURE START-UP STEADY STATE MANUFACTURE PROJECT MANAGEMENT SUPPLY CHAIN MANAGEMENT DESIGN RISK MANAGEMENT AND PRODUCT ROBUSTNESS SKETCHES OBSERVATIONAL RESEARCH EYE SAFETY ESTIMATED COSTS OBSERVATIONAL RESEARCH – FORM ID LANGUAGE PROOF OF PRINCIPLE RIGS SCHEMATICS ARCHITECTURE COMPONENT SELECTION BETA PROTOTYPES BETA DVT DVT PRODUCT FOR SALE REQUIREMENTS AND SPECIFICATION CONCEPT REVIEW GO / NO-GO DESIGN REVIEW DESIGN FREEZE APPROVAL FOR SALE

slide-26
SLIDE 26

#26

Step 6: Estimate realistic timescales

slide-27
SLIDE 27

#27

Step 7: Plan your resource needs

Proof of Concept Concept Feasibility Detail Design Manuf. Number of people in the design team “Research” “Product Design” Time

slide-28
SLIDE 28

#28

Step 7: Plan your resource needs

Proof of Concept Concept Feasibility Detail Design Manuf. Time Money invested Stock purchase

slide-29
SLIDE 29

#29

Step 7: Plan your resource needs

slide-30
SLIDE 30

#30

Money saving tips

slide-31
SLIDE 31

#31

Money saving tips DIY product development

  • Write your own specifications
  • Write your specification again
  • Write your specification again
slide-32
SLIDE 32

#32

Money saving tips DIY product development

  • Write your own specifications
  • Write your specification again
  • Write your specification again
  • Make sure your foundations are sound
  • Technical feasibility
  • Cost feasibility
  • Market demand
  • If it doesn’t work yet, stay in Feasibility
slide-33
SLIDE 33

#33

Money saving tips DIY product development

  • Write your own specifications
  • Write your specification again
  • Write your specification again
  • Make sure your foundations are sound
  • Technical feasibility
  • Cost feasibility
  • Market demand
  • If it doesn’t work yet, stay in Feasibility
  • Seek advice from experts
slide-34
SLIDE 34

#34

Money saving tips Use sketches & renderings

  • Cheap to create
  • Easy to change
  • Everybody can understand
slide-35
SLIDE 35

#35

Money saving tips Use sketches & renderings

  • Cheap to create
  • Easy to change
  • Everybody can understand
  • Make sure the sketches are

based on sound fundamentals.

slide-36
SLIDE 36

#36

Money saving tips Re-use and recycle

slide-37
SLIDE 37

#37

Summary

slide-38
SLIDE 38

#38

Summary

slide-39
SLIDE 39

#39

Contact details

email stuart.kelly@wide-blue.com visit www.wide-blue.com and follow wideblue_design on

.