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Low volume tooling is typically lower cost in terms of investment, but lower production capacity and higher unit cost. Gets you to market faster with production units. High volume tooling is more expensive – longer lead time, but more capacity and lower cost. For new ventures, it usually makes sense to do low volume tooling first, [...] During conceptual design of your product, cost engineering is essential. Once main obstacle that new ventures face is the cost of your product versus desired selling price. Volume can have a huge impact on this. For the gBook e-book reader, you’ll note the cost reduction in total cost from low volume [...] Research is very difficult. It can take days to sift through the internet just to make sure that there isn’t another product just like your idea online. Once you are fairly sure that right now (something could always pop-up tomorrow) there is nothing like it, you widen the net. Eventually you will find some similar [...] Last Night I attended my first Inventors’ Association of New England meeting. It was a great meeting and and interesting talk by Keith Bibby, “inventor for hire” and Professor at the University of Phoenix. He talked about his experience innovating in the curtain rod industry and selling those products to / through Wal-Mart, QVC and [...] |
 
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