Monthly Archives: April 2012

The Launch of Patents and Prototypes

patents, prototypes, leardon solutions, intercontinental IP, Joseph donoghue, eric hanscom, live showQ: What is Patents and Prototypes?

A: It’s a new interactive web show co-hosted by Joseph Donoghue from Leardon Solutions and Eric Hanscom from Intercontinental IP featuring guest entrepreneurs and experts

Q: Who’s it for?

A: Entrepreneurs, inventors, startups and small business preparing to build product that need questions answered regarding the product development lifecycle, the patent process or just overall advice on getting their product and team to the next step.

Q: When is it?

A: The first Tuesday of every month at 6:30pm/pst

Q: Where is it?

A: Get the show details and links by visiting the Patents and Prototypes website and subscribing to the show schedule. You can also sign up for the show newsletter here.

Q: How do I ask a question?

A: You can submit a question here, also, time permitting, you can ask during the live show.

See you there!!

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Crowdfunding Sites + Success Stories

leardon.com, inventors, investment, angel investors, San Diego Crowdfunding, Product Development, PrototypesIt is arguable that nothing has shaken up the investment and funding world lately more than crowdfunding. If you’ve never heard the term, you’re not alone, but crowdfunding is making waves by helping entrepreneurs, artists, inventors and startups find funding for their ventures without using traditional investment channels such as venture capital, angel investment or bank of mom and dad while in the early stage growth phase.

In fact crowdfunding is so disruptive that Obama recently signed the JOBS act (here’s a break down at Mashable).

Right now may be a great time to get your product development, prototype or other startup expenses covered via crowdfunding.

Below is a list of some of the top crowdfunding sites. They’re all different and seem to target a different type of entrepreneur, some are for creatives looking to launch a music career, others are for inventors with a product idea.

As always, read the fine print when signing on the dotted line with any of the following sites or other crowdfunding sites. We recommend going with a reputable site with a history and success stories. Good luck!

Kickstarter For entrepreneurs, innovators, artists and the like. If you need funding for you project, Kickstarter is a great place to watch, learn and participate. With a lot of successful projects, there are some great examples on how to inspire a community to support your vision. Also, don’t be afraid to reach out and contact folks who have posted on Kickstarter, they are often more than willing to offer advice and help.The fees are in the fine print 5% + transaction fees, but basically, you must reach your set goal to get funded.

An example of kickstarter success on Designboom.com

Indiegogo The platform is as simple as Kickstarter. As they say on their site “Create Your Campaign” “Gain global exposure” and “Get Inspired”. The fees vary from 4% to 9% based on the success of your project and a few variables like credit card processing fees. Indiegogo also coins itself as the worlds largest global funding platform.

Interesting factoid – the movie “Bully” received some funding from a campaign on Indiegogo

Other projects of indiegogo.com fame? How about the Luminaid

Rockethub “RocketHub is a launchpad and community for independent artists and entrepreneurs” as it states on their site.

Two notable advantages of Rockethub – Internationally based and they accept money from around the world.

“Extra Credits” set a goal to raise $15,000 through Rockethub.com and has already raised $103,814.

Crowdtilt has a slightly different model called group funding. Watch the video on the homepage for a very quick and simple description. Crowdtilt is focused less on the Entrepreneur / selling an idea and more focused on managing money collected for anything like group funded birthday gifts. Where crowdtilt may be advantageous is for those individuals that have a strong and large social network group. Don’t count Crowdtilt out for your entrepreneurial product ideas, just be aware that it appears to cater more to smaller one off funding purposes than a fundraising tool with incentives for contributors. Crowdtilt was birthed from the Ycombinator incubator and is quickly picking up steam.

Have your own experience with crowdfunding? We’d love to hear about it! Leave a comment.

Thanks!

The Patents and Prototypes Team

Prototype or Crowdfunding. Which Comes First?

With the recent passage of the JOBS (Jumpstart Our Business Startups) Act, we have had an increased number of questions from people asking how to best get funding from crowdfunding sites such as Kickstarter and IndieGogo. Many of the discussions revolve around the basic question: Which comes first, the prototype or the crowdfunding? Basically, entrepreneurs with good product ideas are wondering if they should go out and seek crowdfunding with their idea sketched onto a sheet of paper or if they should develop a decent prototype to communicate their product idea. The simple answer is that entrepreneurs need a prototype to maximize their changes of getting crowdfunding.

A PROTOTYPE SHOWS YOU ARE WILLING TO PUT SKIN IN THE GAME
If you truly believe in the product idea, you will inevitably put “skin in the game”, meaning that you will use your own money to get as far as possible prior to receiving outside funding. Funders need to know you are committed to the project and spending your own money on a prototype will help convince them of that.

Nothing is better than showing off your product idea with an aesthetically pleasing and functional prototype. One way to keep the prototyping costs as low as possible is to build a minimum viable prototype. A minimum viable prototype is similar to a minimum viable product. The idea behind the minimum viable prototype is to only develop and prototype those important product functions and features that allow you to demonstrate what the product does on your project video. In a minimum viable prototype, there is no need to focus on the corner cases of functionality which will take most of the product development focus. Keep the crowdfunding prototype simple, otherwise you will spend more money than necessary and risk confusing the people who might fund your project.

YOUR PROTOTYPE IS AN EXTENSION OF YOU AND YOUR COMPANY
Interestingly, a prototype is an extension of you, your company, and the values of your company. In other words, the quality of your prototype gives potential funders a first impression of you and your efforts. Give them your best first impression by having a great prototype.

When people see your prototype, they will immediately know if you have thought through only the simple aspects of your product idea or if you have dug deep into the critical aspects of the product such as the user and human interface, the detailed design, the interactions with other products, and the manufacturing or assembly issues. Also, the prototype will show if you have a true innovation, an improvement over an existing product, or a trivial reinvention. Create your prototype so that is demonstrates the important functions of the product and looks good.

Producing prototypes is one of the first challenges of product development. Based on the quality, functionality, and overall look of the prototype, people can easily gauge how prepared you are to take on the challenges ahead. Show them that you are prepared for the future challenges of product qualification, production, and manufacturing scale-up by demonstrating your prototype is the best possible embodiment of your product idea.

DON’T TAKE MONEY UNTIL YOU ARE READY TO EXECUTE
Once you receive funding from the crowdfunding sites, you will be required to fulfill the promises stated in your crowdfunding project. If you have demonstrated a functioning prototype in your project video, you will be best prepared to step into production and manufacturing and will not have taken people’s money without a clear vision for the funding.

Developing products that meet the quality and functionality goals isn’t always easy so work with a respectable engineering and manufacturing team that understands the needs of entrepreneurs. This team should be capable of providing end-to-end product development, from the initial prototype development through production and manufacturing fulfillment.

Need more information? Please contact us with any questions or contact me directly at joseph.donoghue ( at ) leardon.com

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Best Practices In Product Development and Manufacturing

Don’t miss it!

REGISTER HERE

From Idea to Product:

Best Practices in Product Development and Manufacturing

Monday, April 16th, 2012

3:00 – 4:00 pm

Founders Room

 Keck Graduate Institute and Leardon Solutions invite you to a product development and manufacturing seminar titled “From Idea to Product: Best Practices in Product Development and Manufacturing.” This seminar will cover the important aspects of the product development life cycle used by the most successful companies to create products from early ideas through production. The goal will be to describe these processes in ways that can be directly implemented at micro, small, and medium enterprises. Using real life cases to illustrate concepts, Leardon Solutions will demonstrate best practices as well as pitfalls to avoid. Time will be available at the end of the seminar to visit with the presenters and get advice on any relevant topics.

WHO SHOULD ATTEND: Managers and technical personnel from small and medium enterprises involved in product development and manufacturing activities as well as entrepreneurs, students, and start-up companies working on turning their ideas into actual products.

ABOUT THE PRESENTERS: Joseph Donoghue and Murray Learmonth, co-founders of Leardon Solutions located in San Diego, California, have a combined 40 years experience in new product development and operations. Leardon Solutions, a multinational corporation with expertise in product development, design, and manufacturing, is focused on helping small/medium enterprises (SME), entrepreneurs, start-ups, and innovators translate their ideas and concepts into physical products. Recognizing that these enterprises have special product development needs, Leardon Solutions has tailored their product development experience at Fortune 100 companies for this unique group. Their engineering, manufacturing, and supply chain expertise allows customers to focus on their core competencies and consistently yields world-class cost, quality, and time-to-market. Leardon Solutions’ global team is currently working on multiple design and manufacturing programs for companies in Europe and the United States spanning the medical, commercial, consumer electronics, active sports, and beverage dispensing industries.

For more information, please go to www.leardon.com.

Best Tips when Designing a Product

Leardon.com, Prototype, Benchmark, Think Simple, Product Development

Below are a few tips to consider when designing a product. These tips are based on years of experience from the Leardon team and are overall the best high-level tips to take into consideration as you begin your entrepreneurial venture into new product development.

A good product development team consists of individuals from different disciplines with diverse goals, objectives, and perspectives. When at the stage of designing a product, be sure to choose a group of talented individuals that are able to compromise for the success of the project.

The product designers and engineers on a project are key to a successful product design but typically have different objectives for the project outcome. Engineers tend to enjoy the “objective” goals of product development such as product reliability, quality, dimensional details, and manufacturing processes while product designers tend to focus more on the “subjective” aspects of product development such as customer profile, product design features, human factors, and the user interface. When embarking on the initial stages of product design, it is important that all team members work together to achieve the goals of the project. Early in the product development life cycle, consider these three tips when starting the product design phase of the product.

Think Simple
There is no reason to complicate any problem and product design development is no exception. The best product designs are typically those that form a simple connection between function and design. If a designer overcomplicates the design, the customer will be alienated and the resulting product will not do well in the market. The goal of a good product design is to pull in the customers with a nonthreatening design that seems inviting and easy to use.

When initiating the design phase of the product, be sure that the design team thinks “simplicity” so that the design concepts, user interface, and human factors can be easily implemented later down the product development life cycle.

Benchmark
It isn’t necessary to reinvent the wheel and in fact sometimes customers would prefer that you don’t. It is a good idea when starting out on the product design path to review and research all the competitor products on the market and gauge which design features make the product successful and which resulted in failure in the market. Obviously, improve the successful features and avoid the failures.

When benchmarking new products, evaluate how the similar features similar are implemented in product design and then determine how new features and functions can be implemented into the product design. Remember not to change things that are familiar and mainstream for customers. For example, it would be a bad idea to try and reinvent how the automobile gear shifter is designed and integrated into the interior design. Customers are too familiar with the current embodiment and would probably reject any major design changes.

Prototype and Test
Once the first release of a product design is “ready for the world to see”, it is best to prototype and test the design prior to releasing the design to the engineering team for detailed engineering in CAD. There are many ways to prototype the design, including foam models, rapid prototyping, computer simulations, or functional prototypes. When testing the prototype, show it to people unfamiliar but interested in the product. The test can be done through focus groups, informal studies, and on-line surveys. It is best to interview as many people as possible to be sure to get a large amount of feedback from a diverse group. Once this feedback is received, implement this back into the product design to improve the design to meet as many requirements as possible.

If you are interested in showing off your work, learning more, or posting topics for discussion in the industrial and product design community, you should visit Product Design Forums.

Need more information? Please contact us with any questions or contact me directly at joseph.donoghue ( at ) leardon.com

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