< img src="https://ws.zoominfo.com/pixel/mzKfRF9CTSMKDZpYhMAF" width="1" height="1" style="display: none;" />

How Do I Turn My Idea Into A Million Dollar Product? (Part 2)

10 Steps for Product Development Success

In part one of this blog series, we discussed the first five steps of getting started with product development, from research and design to perfecting your prototype. Now let’s dive into part 2! This section will explore the manufacturing and product to marketing phases of your product development cycle.

6. Getting A Manufacturing Quote 

After going through many revisions and adaptations, your product prototype is finally perfect! The next step is beginning the manufacturing process and getting a quote for the cost of production. 

At this point, you should begin speaking to an account manager at the company that manufactured your prototype to determine how much it will cost to produce the desired amount of units you want. If the company you are working with to create a prototype does not mass produce products, you will need to find a new company to assist you with this step. 

When you speak to your account manager, it is essential to share an honest and accurate budget with them to determine the best ways to get your product on the market. Be sure to communicate the market desire for your product so your account manager can decide what type of manufacturing process is best for you when figuring out your quote.

What goes into determining a quote: 

  • Cost of the production process
  • Number of units produced
  • Materials needed
  • Labor costs
  • Shipping costs
  • Packaging costs

Keep in mind that a quote is just an estimate. In many situations, the final cost varies. Product developers often forget that other expenses such as packaging, shipping, and marketing also add up. Take these expenses into account when creating a budget and price point for selling your product.

 

7. Clinical Testing

If your product is a medical device, this is the time to look into clinical testing. To determine if your product is classified as a medical device, check out the FDA Medical Device Website for a list of medical device qualifications. Clinical testing is necessary for medical devices to have FDA approval and sell on the market. 

Your product will go through clinical trials, informing developers if the new treatment is more effective and/or has less harmful side effects than the standard treatment. A clinical trial can also look at making life better for people with a disease or chronic health condition. 

Reasons to have your product clinically tested:

  • FDA Approval 
  • Medical data and study to back up product claims
  • Learn how people react to using your device and if there are any risks to using your product 

 

8. Injection Molding

If you plan on mass-producing a product, it is recommended to use the injection molding process to manufacture. Using injection molding is advised for most products because it is quick and cost-effective when manufacturing. To start this manufacturing process, you must create the molds for the parts necessary for your development. This step is expensive upfront, but your quote will often include the price it takes to make molds for the injection molding. 

What to know about creating molds: 

  • Expensive upfront, but cost-effective in the long run
  • Lower production costs
  • Low waste
  • Part redesign restrictions

For those who are producing a low volume of products, an alternative to injection molding is 3D-printing. 3D printing is a viable option for making a product because it has low costs upfront, has a high accuracy level, is fast and repeatable. A second option is urethane casting, which uses a 3D-printer to create silicone molds that deliver an alternative for low-volume injection molding. 

9. Production And Packaging

At this time, it is best to have a packaging plan in place. Often the manufacturing companies you are working with to produce your product can also supply the packaging. If this is not the case for you, then you must find another packaging supplier.  

What to consider with packaging: 

  • Your Audience: Create a graphic and structural design that will be most appealing to your audience. 
  • Retail & Distribution Requirements: Your customer may be a distributor or retailer with particular requirements for your product.
  • Design: How will your package branding and design will set you apart in the sea of other products?  
  • Sustainability: The image you want for your brand, the availability and cost of materials, and the fees associated with recycling or disposal of the packaging after consumer use.
  • Product Handling: How will your product be shipped to customers?

10. Product To Market

The concluding step in bringing your idea to life is to take your product to the market. The process of developing a new product is complete, and you are fully ready to sell to all interested consumers.

Ways to sell your product: 

  • Directly through your eCommerce website 
  • Online third party retailer (ex. Amazon, Etsy, Walmart Marketplace)
  • Your own physical storefront
  • Third-party physical stores

Selling a new product takes patience and a learning mindset. Many product developers dream of seeing their products on the shelves of big retailers like Target or Walmart. Getting a product sold in big market stores is more plausible when you build a record of accomplishment in small and local shops, or your product garners significant interest on other platforms. 

Getting a new product sold in smaller and local stores can be challenging and time-consuming. A tip from a successful new product sales team is to devote time targeting a few stores or customers who are likely to buy your product rather than spreading your attention over many accounts. People will not always say yes to your product but adapt based on the feedback you receive and attack any challenges that arise with confidence. 

The Product Development Process

The product development process is hard work but extremely rewarding. If you are ready to get started bringing your idea to life, check out our Esino contact us page to talk with an account manager about getting started. Esino is your one-stop-shop for all your product development needs. 

If you have not read part one of this blog, you can find it here

 

Tooling: The Logical Solution to Manufacturing YOUR Product

Tooling: The Logical Solution to Manufacturing YOUR Product

 

What is Tooling, and How is it Applied

Tooling, short for machine tooling, is an essential part of most manufacturing processes. You can get a good idea of how tooling works by picturing a garlic press and how it facilitates the process by finely mincing each garlic clove. Just as the press minces your garlic cloves, tooling machines help you manufacture your products. Of course, there are other ways to create your products, just as there are other ways to mince garlic, but they aren’t made to perform the specific tasks needed to produce your product.

How Tooling can Drastically Increase Manufacturing Speeds and Improve Product Quality

Tooling creates unique tools or machines that make your product. These tools are tailored to the specific needs that your product requires and perform actions necessary in each step to mass produce your product. Though it does require time and monetary investment to initially set up the process, the benefits of tooling are tremendous. Once the process is in place, your product moves swiftly through each station until each component forms the whole. In the long run, you save a significant amount of time and money in the production process.

Types of Tooling

There are many types of tooling machines, one of the most prominent being Injection Molding. Other common types of tooling include but are not limited to cutting, boring, grinding, shearing, and assembling. Machines such as the automatic screw machine are also used to facilitate assembly. Depending on your manufacturing needs, different machines are organized into a system to create an automated assembly line to manufacture your product. Tooling is also widely used in packaging, where automatic sealing, cutting, heat shrink, and box sealing machines come into play. They drastically reduce the time that it takes to pack each product manually.

Advantages:

  • Speed: Machine tooling is an extremely fast method to produce large quantities of your product once the process is configured. 
  • Precision: Precision is guaranteed since the machine is fine-tuned to execute the most specific tasks.
  • Quality: Consistent quality through every cycle is a major advantage of tooling.

Disadvantages: 

  • High Upfront Cost: Very high upfront cost if you are looking to set up your own machine tooling to manufacture your products. Luckily, many companies specialize in machine tooling, so you can contract a company to manufacture for you.
  • For Large Operations: Tooling is geared for bulk manufacturing operations.

Determining if Your Business Needs Tooling Services

If your business has a high output of products, it may be a good idea to explore tooling options. Your two choices would be to perform tooling in-house or outsource to a manufacturer that can take care of the tooling process and manufacture your products for you.

If your business conducts its manufacturing in-house and has large quantities of output, you may want to consider tooling and implementing systems if you have not already done so. Because your manufacturing is already in-house, the next step is to optimize your system. Tooling becomes more effective as you produce more, so calculate how many units you need to produce for the initial tooling costs to balance out with the costs of producing units without tooling. Once you find this breakeven point, you can evaluate if it is logical to consider tooling.

If your business needs tooling services, but it is not feasible or too expensive to set up in-house tooling, it may be a better choice to look for a manufacturer that offers tooling to manufacture your products for you. This drastically reduces the initial cost of tooling and makes it possible for you to reap the same benefits without such a heavy investment. If you are looking for a manufacturing service that incorporates tooling, Esino is highly skilled in the field. We help many businesses take care of their manufacturing needs whether they require injection molding, assembly, screw fastening, packaging, and much more!

How Esino can Help Fulfill Your Product Development Needs

When trying to develop a product, Esino is your one-stop-shop. Our services include product design, prototyping, manufacturing, tooling, and repair services. We have a strong history with over 10 years of experience helping startups and creative entrepreneurs turn their ideas into successful products. We work hard to achieve the moment where our clients’ eyes light up when they see their product come to life. Take a look at a few of our past projects here!

Injection Molding: The KEY to cost-effective manufacturing and quick turnaround times

Injection Molding: The KEY to cost-effective manufacturing and quick turnaround times

When developing a product, it is essential to learn about the top manufacturing processes, one being injection molding. The injection molding process has grown to be one of the most efficient and cost-effective manufacturing processes because of its ability to quickly produce a large volume of identical parts. Injection molding allows for the flexibility of various shapes and sizes, resulting in a significant proportion of plastic products created in a short amount of time. 

How the injection molding process works

The injection molding process begins by feeding plastic material granules into a heated barrel. The plastic granules are melted down and mixed with a helical shaped screw. The screw then injects the melted plastic into a custom mold cavity created for each product. The plastic is left to cool and harden to the mold’s configuration. Once solidified, the piece is placed on a moveable platen and removed from the machine. The process is now complete and begins to repeat to produce more parts.

Image Source: Prototech Asia

Advantages of injection molding

  • Speed: Each cycle is completed in about 15-30 seconds. 
  • Low labor costs: This process uses an automatic tool that can produce your parts with little to no labor on top of the production. 
  • Low production cost: Using and creating a mold that minimizes materials and produces multiple parts results in a lower price per piece.
  • Low waste: There is little waste created because the mold is made custom to each part, and most products are recyclable. 
  • Design flexibility: These molds are the most versatile and flexible because they can create almost any shape in one piece.
  • Number of cycles per mold: Each custom mold can complete about 100,000 to 1 million cycles depending on the quality, maintenance, and conditions your mold is under. 

Are there disadvantages? 

  • High upfront cost: The high initial cost to create an injection mold can be a barrier to entry. On average, a mold can cost $12,000, but for smaller pieces, molds can range between $1,000 and $5,000, and for more extensive, it can cost up to $80,000. However, once this cost is covered, there are little costs to continue making the product. 
  • Part redesign restrictions: If you need to make a few changes to your parts, you will need to create a whole new injection tooling mold. To combat this problem, work with our team using our 3D printers to perfect your prototype, and ensure this does not happen. 

Where to go for injection molding? 

When choosing a company for manufacturing services such as injection molding, you should find a highly experienced company with a strong history in developing products that require similar expertise as the product you are trying to create. When you narrow down to your final choices, make sure you ask for case study samples of past projects or physical samples so that you can assess the quality of production.

When trying to develop a product, Esino is your one-stop-shop. Our services include product design, prototyping, manufacturing, tooling, and repair services. We have a strong history with over 10 years of experience helping startups and creative entrepreneurs turn their ideas into successful products. We work hard to achieve the moment where our clients’ eyes light up when they see their product come to life.