What’s Involved in Creating a Prototype?

Getting a prototype made for your product is an essential step between the design and production processes. Before you can make a start on production and start marketing your product to the public, you’ll need to refine your design and come up with a working model. Depending on the product, a basic prototype could even be made with household materials. But there’s no end of 3D printing firms, CNC machining services, and other places that can build you a solid prototype in a short amount of time. In order to get your prototype made and get the answers that you need from it, you need a well-thought-out design and a company that is the right fit for you. 

Designing Your Product

First of all, you need to design your product. Start with the following:

Consider Competing Products

Unless you’ve managed to come up with something completely unique and original, chances are your product is going to have some competition. Get those products and thoroughly examine them; take them apart if you have to. Look at all the materials that are used and determine how you can improve on not only your own design but theirs. For software products like apps, explore the coding and find ways to improve and make your product more successful. Just don’t copy the design – incorporate what you learn to refine your own.

Make a Sketch

Write down or type out ideas for your product. If you can, draw or get somebody else to draw what your product is going to look like. This will help you get a rough idea of how the first prototype is going to look and allow you to quickly notice any issues or flaws in order to improve the design as much as possible before you invest in prototype building. Use your sketch to determine the features that are necessary for your design. When it comes to prototyping, you should choose the few features that are essential for your design to function and limit any expensive extras.

Get a CAD of Your Prototype

A professional can help you obtain a computer-aided design of your prototype, which will be more detailed compared to your sketch. It’s this design that you will need to give the prototype manufacturer in order to ensure that they have the clearest and most detailed idea of your product.

Create a Handmade Version

You may be able to make a small version of your prototype at home in order to save money. Sometimes, a physical product can be made from household items that you have spare. This sample design of your product may make it easier to explain to both prototype manufacturers and investors, and will also help you refine your design even further.

Use a Modeling Program

Thanks to technology, you can also use computer software to put together a digital prototype. There are various software options that you can use to turn your idea into an interactive 3D design yourself. Try programs like InVision or Prototyping on Paper, which allow you to upload designs and create interactive models that mimic how users will handle your product.

Building Your Prototype

Once you’ve got the design side of things nailed and have made any necessary refinements and changes, it’s time to invest in getting the first prototype built. You should:

Find a Prototype Manufacturer That’s Right for You

Making a prototype involves a lot of different factors including injection molding and rapid tooling, assembly, and labor. All of this can often make it expensive. Do some research and find a prototype maker that fits your budget. You may be able to save both time and money by opting for a prototype maker that offers services like online CNC machining. Rapid Direct offers online prototype manufacturing and rapid prototyping services. You can read more about their services here.

Protect Your Design

When consulting with prototype companies and finding the right option for you, be sure to ask about their credentials and view a portfolio of past work, in order to make sure that your prototype is going to be good quality and true to your design. Even if you already have a patent, trademark or copyright, it’s a wise idea to have the company or designer sign a non-disclosure agreement before you hire them. This will serve as legal protection in the event of your design being stolen.

Consider 3D Printing

3D printing is rapidly expanding and it’s often used these days for making prototypes. It uses CAD designed from with computer-made or scanned 3D models to layer materials and create a working prototype. There are many firms offering 3D printing as a simple and often less expensive alternative for making a prototype that you might be able to take advantage of depending on the type of product you are manufacturing. You can even get a 3D printer for your home if you want to take the route of doing it yourself.

Getting Funding

A good prototype will make your product more appealing to both your target market and any potential investors in your company. You may need to pitch your product idea to outside sources in order to make the production of your product a reality; you can do this in several ways such as finding investors through networking, pitching your product to investment companies, or crowdfunding. Remember that the better your prototype is, the more chance you’ve got of securing the funding you need.

Get Pre-Orders and Fill Them

Once you’ve got the above steps completed, make as many of your products as you can sell. During the prototyping stage, it might be worth taking pre-orders for your product from customers who are interested in buying it, so you have a better idea of how many of your products you will need to make. Be careful not to make too many as the initial construction cost of a prototype can be very expensive, so you don’t want to end up stuck with a large inventory that you are struggling to shift. And bear in mind that as you try to sell your product, you will likely need to go back and make updates and improvements to the design.

Using your Prototype For Market Research

The main aim of a prototype is to get a working model that represents what your finished product is going to look and act like. It should only contain the main features of the product in order to give yourself, your target market and potential investors a clear idea of what to expect without being too costly to produce. 

There are several ways that you can use your prototype for market research. Ask members of your target market or people who are experts in the specific field to try it out and provide you with honest feedback on what they think and any improvements that they would suggest to you. Find people who would be willing to buy it and ask how much they would spend and what you can do to encourage them to spend more. If somebody wouldn’t buy it, ask them why and if anything would change their mind. Use this information to make improvements during the manufacturing process. 

Creating a prototype is a crucial step to turn your idea into a product that can be sold.

 

prototype design -DepositPhotos

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source https://tweakyourbiz.com/business/creating-prototypes

How to Host a Productive Virtual Meeting

Meetings can be a real time sink, especially if they are not managed in an efficient way. Procrastination and thumb-twiddling can be increased even further in a virtual environment, where keeping all involved parties engaged is another challenge to tackle.

With that in mind, here are some tips to help you host productive virtual meetings that will have demonstrably beneficial outcomes, rather than achieving nothing.

Use the Right Tools

There are tons of different platforms that allow for meetings to be hosted virtually, but not all software solutions are created equal and so picking the best one is key.

This list of the best conference call services from SnackNation is a good starting point, letting you compare and contrast the top paid-for services including Zoom and UberConference Call, as well as free alternatives like FreedomVoice.

Once you have your communication situation sorted, you should also look at the other remote working tools that can further optimize the virtual meeting experience. Productivity will be enhanced if participants can not only speak with and see one another, but also share data and collaborate seamlessly.

Set an Agenda

If a meeting has only the vaguest of topics or aims set out ahead of time, it will be all too easy for progress to meander and for proceedings to stretch out much longer than originally intended.

To combat this, having an agenda is your best weapon. You need to plot out the major points that need to be discussed, the amount of time that you should allot to cover them, the anticipated attendees who will be involved and what these individuals will need to bring to the table.

Part of your agenda-setting should also include setting down what data may be relevant to have available to direct discussions over the course of the meeting, so that you do not have to scramble to find it in the middle of the main event.

Establish Etiquette

Virtual meetings can feel less formal than face to face gatherings in person, which can in turn lead to some bad habits that might cause disruption if they go unchecked.

First and foremost, the use of other devices during the meeting must be prohibited. It is easy to get distracted by a smartphone if you are not currently talking, so ask politely for all attendees to put their mobiles to one side and also be courteous when others have the floor. The same goes for avoiding the temptation to use any other apps or services on your laptop; that email can wait for after the meeting is over.

It is also sensible to recommend that attendees move to an area where they will not be disturbed by anything, or create a distraction in general. If they have no choice but to share a space with others, ask that they mute their mics when they are not talking, so that outside noises do not interfere with the flow.

Meetings can be costly, so it pays to boost productivity and make the most of your virtual time together with colleagues.

virtual meeting with colleagues -DepositPhotos

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source https://tweakyourbiz.com/business/productivity/virtual-meetings

4 Data Strategies Every Business Needs to Consider

With so many potential approaches to managing the data needs of your business, choosing a single strategy and sticking to it can be taxing.

Ultimately it makes sense to look at all the options available before you come to a decision, so here are just 4 strategies to compare in order to help you find one that fits.

Strategizing to Escape Legacy Hardware Limitations

One common motivation for creating a new data strategy is specifically to move away from legacy hardware implementations which may be both a financial and operational burden on the business.

In this case you may be looking to move away from on-site storage which is bottlenecked by hardware and network resources alike, potentially moving to a cloud-powered equivalent. It might make sense to switch to an SQL server that is hosted remotely, for example. You can still use software to monitor your SQL server and make optimizations; you simply no longer need to worry about covering costs for upgrades and upkeep.

Strategizing to Improve Security

Your main concern when developing a data strategy may be the levels of protection that sensitive information is afforded. At a time when breaches are on the increase, no firm can ignore the threat of malicious actions leading to theft, disruption and reputational damage.

Factoring this in at the core of any strategy makes sense, especially as there are new types of encryption emerging and fresh approaches to common cybersecurity challenges being proffered by storage providers.

Strategizing to Streamline Acquisition

A good data strategy cannot simply set its sights on how information is stored and managed, but must also take into account the processes by which the data is acquired in the first place.

Cost is a significant factor in this case, and you need to be able to justify the expense of acquiring information that will be relevant to your operations by looking at how it will deliver value further down the line, whether as a result of increased sales, improved customer experience or some other measurable metric.

Such calculations can be complex and it is usually sensible to consult with an expert to come to an actionable conclusion since money is at the heart of every business matter and unless your data acquisition strategy makes financial sense, it will not be worth pursuing.

Streamlining acquisition is also heavily reliant on knowing which groups to target, as the more specific you can be, the better equipped you will be to whittle down the data sets you consider. Paying for market research as part of this process is an option, but you can also do your own digging by delving into social media stats, site analytics and other hives of information that are freely available.

Strategizing for Accessibility

Arguably the most important aspect of any data strategy is the level of access that it affords, not just to end-users but also to other solutions and services which may benefit from being able to leverage the information which your business accrues.

The emergence of APIs and the apps which take advantage of them has acted to quantify exactly how important accessibility can be in the context of data. To extract the full potential from your resources, you need to be able to distribute them efficiently and securely.

This is where the cloud can once again be seen as a cornerstone of many modern data strategies since it lets even small enterprises harness expansive data centers and cater to apps and users around the world without breaking the bank. Each data strategy must, of course, be unique, but such facts show that there is also the unity between them.

explaining data -DepositPhotos

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source https://tweakyourbiz.com/business/strategy/data-strategies

Finding Financing to Expand Your Small Business

Starting a small business has become more accessible to everybody these days. Sometimes, you might not even need a lot of money to get started, depending on your business idea. You can provide online services from home, and there’s no need to rent an office or employ staff, or you can make handmade products and sell them on your Etsy shop with minimal startup costs. 

But if your small business idea is going to need some investment to help it grow, you’re probably weighing up your options for small business funding. The good news is that today, there are a lot more options available for small companies compared to just a few years ago. The bank is no longer your only option. 

So, where do you go for small business funding? Consider these ideas.

Small Business Lenders

With banks saying no to small businesses more and more often, there’s been a gap in the market for lenders who specifically service the small companies that are being turned down. If you’re starting a small business, you’ve probably got a better chance of being accepted to borrow from one of these companies; after all, you’re their perfect target customer. 

Applying for business funding is easy; most of the time it’s all done online. Cubefunder, for example, makes getting loans for your small business easy. Just fill in the online application, follow the steps, and wait for a decision. 

Angel Investors

If you’ve come up with a unique and interesting business idea that you’re sure is going to make megabucks in the future, you might be able to find an angel investor who agrees with you. Typically, these are individuals who’ve built a business empire of their own, and now want to use some of their money to help entrepreneurs who’re in the same boat as they once were. 

Search for angel investor networks in your area – chances are you’ll need to pitch to a few before you get the funding you need, but if you succeed, it’s worth it. Although you’ll need to be prepared to part with shares in your company in return, the money isn’t all you’ll get. Many angel investors bring valuable guidance and support to help your business thrive and grow. 

Crowdfunding

The public loves new ideas – and if you’ve got a business idea that you think everybody is going to be amazed by, you might want to consider gaining some funds through crowdfunding. Popular for raising money for good causes on sites like JustGiving, crowdfunding is now beginning to make a name for itself as a viable way to raise funds for small businesses, particularly due to the rise in micro-investing. 

How it works: You post your business idea on a suitable crowdfunding website or app and members of the public invest a small amount of money if they are interested in the idea. They’re like angel investors but on a much smaller level. Thanks to their contribution, each person who donates will own a small part of your business – and if you manage to hit your goals and get massive, the pay-off will be brilliant for them. 

Friends & Family

This one is often seen as a safe bet by many small business owners. Borrowing money from your family and friends is certainly less stressful than getting it from a bank or lender, but bear in mind that if things go awry, your relationship with them could be strained. If you’re going to borrow from friends or relatives, make sure that you’re prepared to repay them, even if your business doesn’t take off as hoped. 

With so many funding options to consider, there’s never been a better time than the present to go for it with your small business idea. 

business money concept -DepositPhotos

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source https://tweakyourbiz.com/finance/business-finance/expanding-small-business

5 Things You Need to Run a Successful Business From Your Home

So you’ve finally decided to go alone. You’ve been “working for the man” for years and now it’s time to set up shop and enjoy working for yourself. To make this deal even sweeter, you’ve decided you’ll run your business out of the comfort of your own home.

Sounds pretty amazing, doesn’t it? It is.

Not only will you be starting your very own business, but you’ll also enjoy the best of both worlds: starting a company and remaining in the comfort of your own home. It’s a win-win for anyone that has the ability, drive, and resources. Anyone who has ever run a business out of their home will tell you how exciting and fulfilling it is.

But before that business can take off, there are certain things you’ll need. Let’s take a look at five of those things—some of which are required, and some are merely a suggestion.

Legalities

This is a business. And no matter where this business is, it must be legal. The first thing you must do is decide on a form of ownership. Three of the most popular types are:

• Sole proprietorship
• Partnership
• Corporation

If this is a small business, and it’s just going to be you, the sole proprietorship is your best option. If, however, you think your company will eventually expand out into something much larger, you might want a corporation. Your best bet, however, is to talk with your accountant to know what option best suits the company you are about to launch.

Depending on where you are located, you might also need a business license and run your business according to the laws dictated by your local or federal government. This is another issue to take up with your accountant. Even if your business will be formed as a means to work with offshore developers, you must take care of all the legalities before you launch.

If you neglect this step, you could find yourself in a world of trouble.

Zoning

You probably didn’t think about this. But if you’re starting your business in your own home, you need to find out from your local authorities if your neighborhood is zoned for home businesses. If it’s not, this could come back to haunt you. Certain municipalities do not allow for the zoning of home businesses, so you must find this out first.

If your local zoning laws do not allow for home businesses, you might take this up with those in charge of zoning. Get your neighborhood to sign a petition and take it to the zoning board. In the end, you may not be able to change their minds and you’re out of luck for your home business. However, if your neighborhood is already zoned for home businesses or the zoning board is amenable to your request, you’re good to go.

Permits

We’re not done with the legalities here. You might find your home business requires certain permits, in order for you to legally do business. Depending on what your business is going to be, make sure to check into the following permits:

• Home occupation permit – this goes along with the zoning. If your neighborhood is zoned for home businesses, you still may need to acquire a home occupational permit. Of course, not every type of home business requires a permit, but you should check to make sure.
• Sales tax permits – If your business will be selling taxable products, you must obtain a sales tax permit. And even if you live in a state that doesn’t collect sales tax, if your business will be selling online to states that do (such as for offshore software engineers), you’ll need this permit.
• Health and safety permits – This is another issue where you’ll need to check in with your local government. Some states require health and safety permits for businesses.
• Sign permits – Believe it or not, if you plan on hanging up a sign, you might need a permit to do so. This doesn’t apply to all home businesses, but you’ll need to find out from your local government if your business (and your location) requires a sign permit.
• Construction permits – If you plan on making any structural changes to your home (such as creating an external entryway to your office), you’ll have to acquire the proper construction permits to do so. Without those permits, you can’t legally modify the structure of your home. This, of course, varies from state to state.

A Plan

You need a plan. This plan will outline how your business is structured, how it will make money, who your customers will be, etc. Consider including (at minimum) these points as you create your plan:

• Company Overview: Your mission statement and the details about your business’ location.
• Executive Summary: This will be an overview of the products and/or services offered by your business.
• Financial Overview: This includes your projections, profit-and-loss analysis, and sales assumptions.
• Market Analysis and Market Strategy: This outlines your target demographics and information about what makes your products and/or services unique.
• Products and Services: This includes the details of how your products and/or services meet the current marketplace demand.

Your plan should also include a two-year projection, a five-year projection, and a ten-year projection. You need to have milestones in place for comparison as you grow.

Office Space

You can’t run a business out of your home without a proper office. Okay, you can but you’ll find it frustrating and inefficient. Chances are you’ve already designated a room as an office. If not, now’s the time to do so.

Make sure this room is large enough to house all of the furniture and equipment you’ll need to run a business. A desk, a chair or two, a printer, a server, and any technology specific to your business.

You also want to make sure the office space you chose lends you a modicum of privacy. You don’t want people interrupting you all day.

And, if at all possible, select a room that has its own external door. If you’re going to have clients or customers in your office, you don’t want them to have to walk through your home to get there.

Don’t overlook the choice of proper office space.

Conclusion

If you’re ready to launch your own business out of your home, take care of these five things and you can rest assured that your company is starting off on the right (and legal) footing. It might take a bit of time to take care of these issues, but in the end, you’ll be glad you did.

 

man on laptop in living room -DepositPhotos

The post 5 Things You Need to Run a Successful Business From Your Home appeared first on Tweak Your Biz.

source https://tweakyourbiz.com/growth/personal-growth/home-business

Recruitment: How To Compete With The Big Brands (And Budgets)

As a small company, you probably know the difficulty that arises when it comes to recruitment. It’s a hugely competitive business and like it or not, money talks. Those top-performing employees will soon get head-hunted and plucked by the firms who are able to offer gigantic salaries.

Unfortunately, a lot of people will be swayed by money and there is little you can do about this. At the same time, there are some other incentives that you can tap into which can sometimes make all the difference for employees, and today’s post will take a look at some of these in detail.

Hire correctly

Before we jump into the ins and outs of all of the different incentives you can offer employees, let’s talk about hiring.

In short, if you hire the wrong people for the wrong roles, you will lose them pretty quickly. This doesn’t necessarily mean that they are bad employees, they just weren’t suited to the role you were initially advertising for. At the same time, they might be perfect for another area of your organization.

As such, it place a lot of attention on that initial hiring process. Make sure you nail your job description down to a tee so that everyone is on the same page. If you don’t do this, you’ll start to fill round holes with square pegs and you’ll be met with an employee exodus.

Furthermore, sometimes you might have to “filter” those applicants who you know won’t be with you for the long-term. You can usually gauge this from a CV; they may have hopped around jobs in the past, or there might be another tell-tale sign that they just won’t stick around very long. While it might be great to get that initial boost from their employment, just remember that having a high turnover is a dangerous game for a smaller business.

Make them feel part of a team 

It sounds ridiculously simple, but just making sure employees feel part of a team can make all the difference in your battle to keep the best talent.

One of the best ways that people can look forward to coming to work is if they get on well with their co-workers. It means that you should make every effort to boost their working environment, whether it is via team building activities or something as simple as beer Fridays. It just encourages everyone to mingle and become real team members.

Highlight your other extrinsic benefits

As we have already alluded to, most people are motivated by money. It’s not just their salary that can provide them with these little boosts in motivation though; there are all sorts of other extrinsic benefits that can push them along.

For example, it might be offering discounted cinema tickets or a reduced rate at the local gym. In relation to the latter, studies have found that companies who provide gym memberships are less likely to lose out through sick days. For this reason, check out Zest’s benefit software to see how you can make sure your company benefits are properly exposed.

Map out development plans 

Progression is a big deal for a lot of people. They might not be on a high salary now, but if they can see a clear roadmap on how to develop in your company it will do wonders for their motivation levels.

This is where you need a structured approach to personal development. Map out a plan for each team member, to show them what could happen if they apply themselves accordingly. Sure, they might be able to land a higher salary in another company for now, but will they provide these development opportunities?

Make them feel involved in the business

Something that a lot of companies fall foul of is not getting their workers involved in the business. They don’t know the numbers, and they’re just locked in their own little bubble.

This can possibly be a dangerous proposition. It can mean that employees feel as though they have no purpose to the overall business objectives.

Granted, don’t overshare information, but make sure they are fully aware of just how their role affects overall performance and how much they are valued. While this isn’t an extrinsic reward, it can make their day-to-day working life much more enjoyable.

Find the pain points

Finally, let’s talk about pain points. It doesn’t matter whether you are a huge corporation or a small business, there will be pain points somewhere. Employees will have some sort of gripe, and it’s up to you to address these where reasonably possible.

Of course, we’re highlighting the term “reasonably”. You won’t be able to fix everything, but if there is a particular problem in which you can intervene and make it easier for your workers, it can do wonders for your retention figures.

The post Recruitment: How To Compete With The Big Brands (And Budgets) appeared first on Tweak Your Biz.

source https://tweakyourbiz.com/business/hr-and-recruitment/compete-with-big-brands

Why Is Transportation Mapping the Solution for Your Business?

Maps were and still remain the primary tool of transport regulation. The changes they have undergone open new opportunities to business and government. With the full range of options, transportation mapping is employed in different spheres to optimize the workflow, maximize revenues, and diminish expenses.

So, what are the benefits your business can reap from using transportation mapping?

Supply Chains Maintenance

The cooperation of analytical and engineering departments enables you to find the best location for your warehouses. With GIS in transportation, the logistic becomes simpler because of storages and routes visualization. Comparing loads and data, you can choose the most profitable locations for your supply chain.

Highways Monitoring

Local authorities can apply transportation mapping to manage the workload of highways. It enables them to monitor different road sections and implement attained data in transport regulation. In the long run, this analysis helps to maintain the highways more effectively and develop proper infrastructure in corresponding areas. When visualizing maps outputs, transport bureaus can optimize traffic flows by impeding accidents and blocks.

So, with this in mind, companies can plan optimal routes and reduce fuel use and vehicle operating cost. Intelligent maps also allow managing delivery information and calculating the time for traveling from one stop to another. Therefore, it diminishes adverse impacts on business, minimizes economic harm, and enhances customer satisfaction.

Public Transport Optimization

As GIS mapping works decently outside the cities, its effectiveness can be exploited in urban areas, as well. Primarily, it helps optimize the operation of public transport on a daily and occasional basis when navigating visitors to the location of concerts, boards, and other events. It is especially beneficial for metropolitan cities with different kinds of public transport.

Local entities face challenges when arranging directions. They have to cover vast territories of the city, connect its parts, and optimize time for stops. Per se, interactive maps provide a solution to this issue since they show arriving units and ridership in real-time due to the use of auto-updated pieces.

As for the taxi, drivers can find custom routes to save commuting times and expenses on every ride. With the help of spatial mapping on mobiles or tablets, they can observe the territory with excessive road load, traffic congestion, accidents, blocks, or road maintenance and construction on the way.

Wrapping Up

Transportation mapping emerges as a useful tool for business and local authorities. The organization of supply chains, development of urban transportation system, construction, and maintenance of highways attain data for processes optimization. When visualizing areas and objects, the one gets a complex understanding of the issue for monitoring traffic in the cities, preventing the collapse on the roads, and storing raw materials and goods.

GPS in car -DepositPhotos

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source https://tweakyourbiz.com/business/business-resources/transportation-mapping