If you are looking for the best product development companies, consider these traits
Not all product development companies are created equal and when it comes down to spending your hard earned money and valuable time developing your next product, you need every advantage that you can get to avoid cost overruns, missed delivery schedules and quality control issues. All of these risks of product development can be minimized or avoided all together by choosing the best product development company for your needs. Here are a few tips that we can offer based on years of experience developing products with entrepreneurs, startups, and businesses.
#1) Choose an end-to-end solution:
Maybe we’re playing favorites here, but we always suggest a team that offers an end-to-end solution. With so many variables already working against the entrepreneur, choosing an end-to-end solution can eliminate a lot of areas of risk. These include, but are not limited to the common pitfalls of communication issues between engineering / manufacturing groups, cultural differences when doing business overseas and negotiating costs with suppliers.
#2) Choose a company that is passionate about providing the best product development experience.
If you are an entrepreneur reading this article, then you are are probably passionate enough to seriously consider getting a professional prototype or product produced. You’ll want to select a team of product development professionals that eat, sleep and breath product development. A passionate team will go far beyond delivering a baseline product and will have enough vision to build a viable product that can be iterated upon as needs or markets change.
#3) Everyone gets involved
While it can be information overload in the beginning, a key indicator that you have found a great team is when your first or second meeting has more than just a sales guy or gal discussing your product idea with you. Passionate teams like to work together and will often bring electrical / mechanical engineers, industrial designers and project manager to the first few rounds of meetings to help discuss and evaluate options. If you are talking only to a sales guy or gal, this could mean that you are missing out on valuable feedback from key parts of the team.
#4) The Best Product Development Companies follow a time tested and proven product development lifecycle
Each product varies greatly in shape, size and function, but the product development process in which that product becomes a reality should be proven and time tested. Ask the product development company to explain to you their product development process. The best product development companies rarely stray from their product development strategy because it has been developed to be efficient in managing the project management triangle – Cost / Scope / Schedule / Quality.
#5) Great communicators and relationships
One of the most important things that sets apart the best product development companies from others is their relationships with their customers, vendors and suppliers. It’s important that the company you may hire can pull a few strings and call in some favors. Great product development rarely goes without few snags or unexpected hiccups. If the company of your choosing has long standing relationships with their vendors, problems can be resolved quickly and often at a fraction of the cost. These relationships are critical to success especially overseas where greater weight is put on the value of a relationship in regards to business.
#6) An impressive portfolio
Check out their portfolio. Do the products look impressive? are their some that are in the same or similar market as your idea? If so, this could be a key indicator that you will benefit from working with this company.
If you have any questions, please feel free to contact us. Have comments about this article? We’d love to hear them. Just comment below.