Advice and Resource for Entrepreneurs Developing New Electronic Products
New products and services are the life blood the soul of all businesses. Putting resources into their advancement is critical for the business and not a discretionary extra – it is urgent to business development and benefit. New Electronic products and services help develop new clients and markets.
Doing nothing is a recipe for stagnation and moving backward. Your competitors are not idle.
This guide will highlight the critical stages in the lifecycle of items so you know when all is good and well for your business to begin the improvement cycle.
It will clarify how an arranged and staged improvement cycle will help you settle on the best choices. It will likewise encourage you on how best to make an advancement group and deal with an undertaking.
This is a shortened introductory version of an article originally published on Extron.
MVP (Minimal Viable Product)
This is a topic I am very passionate about. The MVP is the minimal product that you can develop to generate income. Too often I see clients wanting the develop the perfect product as their first release. This is always time consuming and too often delays the product delivery. Release the product when it is at its MVP stage and plan for new models and improvements.
The lifecycle of products and services
There are five key stages in the lifecycle of any product or service.
- Development – at this point your product or service is only an idea. You’re investing heavily in research and development.
- Introduction – you launch your product or service. You’re spending heavily on marketing.
- Growth – your product or service is establishing itself. You have few competitors, sales are growing and profit margins are good. Now’s the time to work out how you can reduce the costs of delivering the new Electronic products.
- Maturity – sales growth is slowing or has even stopped. You’ve been able to reduce production and marketing costs, but increased competition has driven down prices. Now is likely to be the best time to invest in a new product.
- Decline – new and improved products or services are on the market and competition is high. Sales fall and profit margins decline. Increased marketing will have little impact on sales and won’t be cost-effective unless new markets are identified.
Manage the lifecycle
Recognizing where items or services are in their lifecycle is key to your benefit. A compelling investigation into your business sectors and contenders will assist you with doing this. See our guide on the most proficient method to comprehend your rivals.
You can expand or extend the lifecycle of an item or service by putting resources into an “growth plan”. You could:
- increment your marketing spending
- present minor developments – maybe by adding additional highlights or refreshing the plan
- look for new business sectors
The purpose of this article is to focus on the five core steps required to develop the prototype for a new electronic products.
Step #1 – Design the Circuit Schematic
The ultimate objective of the hardware configuration is the making of a Printed Circuit Board (PCB). The initial step of making another PCB is the making of the schematic circuit plan. A schematic is like an outline for a house.
Planning the schematic circuit initially incorporates early exploration to choose the best technology and most modern methods. It might likewise incorporate running simulations and additionally prototyping new ideas.
Step #2 – sign the Printed Circuit Board (PCB)
Utilizing a similar programming bundle as in step #1, the designer develops the PCB design. The PCB design can be very complex and can be dependent on the technology being used. RF circuits (Bluetooth, WiFi, GPS, and so forth) and combinations of technologies in the PCB can result in complex interdependent technologies.
After the schematic circuit is done the next stage is the PCB design. At the point when the PCB format is finished. It is time to undertake PCB design checking and confirmation check wire widths, follow spacings, track lengths associated with high speed routing, current paths and earth loops can be identified and corrected. Mainly to guarantee the design meets the specifications of the specific PCB manufacture measure being examined.
Prior to starting the PCB design, it is important to acquire the capability of your PCB manufacturer for their capability. Each PCB maker has various capabilities in their production. With the ever-decreasing size of parts the track widths going to sub 0.1mm it is important to ensure your PCB supplier has the capabilities or design in line with their capabilities. When the PCB design is finished it’s an ideal opportunity to send the information off to a PCB supplier for prototyping. Generally PCB suppliers can provide a prototype in less than 1 week.
Step #3 – Evaluate and Debug the Prototype
When the prototype returns it will be assessed and if any issues are discovered, those should be fixed. Ideally there are no issues, however that is incredibly uncommon, and there are quite often in any event a few issues. Debugging circuit can be troublesome and difficult to advice in advance, in light of the fact that until you understand what the issue is, you can’t assess how long it will require to fix it.
Step #4 – Program the Microcontroller
Practically all gadgets items today have some sort of microcontroller that goes about as the controller for the item. These are quite often customized in a programming language called “C”. At times the programming will be finished by the very individual that designed the circuit, however often the program is written and developed by a specific software engineer.
Step #5 – Design the Enclosure
This is quite often taken care of by an engineer not associated with stages 1 through 4. However cooperation between all developers is critical for the product development.