Posted on May 18, 2017
A large product design firm would be your go-to when you are developing a new physical product as an entrepreneur. A large product design firm can develop from scratch to your desired product. However, this can have its drawbacks.
Below are five important factors to consider when outsourcing product development.
When allowing a design firm to develop your product, the tendency is that you will have no control over the project. The development process of your product is a vital moment and you will regret if you will hand it to a design firm. You would not be able to understand the development process.
Favorably, you can outsource a technical expert into your team as a co-founder. The product will be developed by your team and you will be able to understand how your new product will be developed. This way, you can have a control over the product development.
2. Reduce risks
Asking for a second opinion on your product design can reduce the risk during the development process. When major companies develop products, this is one of the standard procedures to reduce risks.
As the complexity of the product increases, the risk also increases. A review process may be used to lower risks. Hiring an independent engineer to review works can be an option to reduce risks. This technique can save you thousands of dollars.
3. Hire specialized engineers.
It is recommended to hire a specialized engineer for the product development especially if it is a complex electronic product. Hiring a generalist would be risky. You wouldn’t want a family doctor to perform a brain surgery, right?
4. Hire multiple specialists
Allowing one design firm or one freelancer to manage product development also increases your risks.
Freelancers may leave your project behind. Freelancers only do freelance work between full-time jobs. If the freelancer finds a new job, there is a possibility that the project will not be completed. Hiring multiple engineers is recommended since it lowers risks and you have less to lose.
5. Manage product development to save money.
Hiring one design firm or one freelancer is also pricey since they may charge you the highest rate possible. Hiring specialized engineers enable you to save thousands of dollars. Some processes can have lower fees. By considering these factors and learning, you can create better products and have an improved business.
5 Tips for Outsourcing Product Development, stamfordadvocate.com