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what are the biggest challenges in starting a hardware company?

by:Hoone      2020-06-02
What is the biggest challenge of starting a hardware company?
First appeared on Quora.
A knowledge-sharing network of people with unique insights answering compelling questions.
Answer from Boosted CEO Sanjay Dastoor.
Learn robots at Cal, Stanford, JPL, and SRI in Quora.
The term \"hardware company\" is used too widely when talking about the challenges faced by startups.
Both Square and SpaceX are hardware companies, but face very different challenges.
It\'s like integrating Enterprise Saas, social applications, and artificial intelligence as \"Software Companies.
So I will consider each sub-category and the challenges I face.
I can say the best about the challenges we face.
First, it\'s harder to iterate than software companies.
Especially in the early stages, you should build your product with your users.
Part of your goal is to understand what features you are important to and what errors your users want.
For us, we received great advice to ship several units at a lower development cost, and we turned to the use of arduino and Nintendo Wii Remote and RC aircraft batteries to make prototypes that we can sell
However, you have to emphasize this consciously because of the large launch and the high
The media and investors are celebrating the Dollar booking event, which can easily be drawn in.
Second, it is expensive to make mistakes.
If you take months or years and millions of dollars to ship the first unit to the customer, or put your product in the wrong store, you may find that you are wrong too late, and the cost is too high.
Keep conservative about your cash, schedule, your commitment to your customers, what distribution partners you work with and how the real unit economy works.
It costs money to provide quality customer service. Having a no-
Trouble return policy to spend money.
So be conservative and try to limit the way you might be wrong.
Third, business models are important.
One very neat thing about hardware today is that thanks to easier distribution, connectivity and great software, new types of business models can be built on top of physical products.
Open your mind and go beyond the idea of just \"building a gadget and selling it with margin.
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