Next Step Prototypes?

I will pick up from the point that you have your target market and have done meaningful market research.  Then you develop as good a prototype as possible with your available resources. Building a prototype can be the first expensive step in your product development.  You may need some investments to pay for your prototype.

Family and friends are often the best place to start for some small investments. Some of them may already know about your product, maybe have been encouraging you, and now may be the time to ask for some investments. As Bill Aulet has repeatedly stated you want to be upfront about the risk of investing in a new product, especially if you hope to keep good relations with your family and friends.

Was this article helpful?
0 out of 0 found this helpful

      This website and all posts and content are intended for educational purposes only and for no other purposes. This website does not and is not intended to provide legal, financial or tax related advice. Although we take great care to make sure that all of our information is accurate and useful for it intended educational purposes, if you have a specific issue for which you need actionable advice, please come to the Martin Trust Center in person to speak to one of our Entrepreneurs in Residence (EIR) or consult a licensed attorney or other professional. Despite the backgrounds and qualifications of our staff, mentors, lecturers, authors, EIRs and speakers no attorney-client, advisor, or other confidential/privileged relationship exists or will be formed between you and the Martin Trust Center or the Massachusetts Institute of Technology. Under no circumstances should any content be relied upon in making any decisions that could have any financial or legal impact(s).
Have more questions? Submit a request


Powered by Zendesk