The Essential Guide on the Costs to Develop, Scale, and Manufacture a New Electronic Hardware Product
Article Technical Rating: 5 out of 10
Most entrepreneurs drastically underestimate all of the costs required to develop, scale and manufacture a new electronic hardware product. This is one of the main reasons so many hardware startups ultimately fail.
Don’t make the fatal mistake of underestimating the costs, or worse yet not estimating them at all, because in order to succeed to market it’s necessary to know your costs. Without knowing all of the costs you’ll either run out of money before your product is market-ready, or you’ll find yourself developing a product that can’t ever be manufactured profitably.