What does a product strategy service include?
The decisions that come before design and engineering: the users, the functions in numbers, the target retail price and unit cost, the markets and their standards, the phases with a stage gate at the end of each, and the funding route with its material. At ONMOTIO it starts with a written brief and stays with the project to the launch.
What is a product brief?
A product brief is the written targets of a product: who it is for, what it must do, the price it should sell at and the standards it has to meet. A good brief turns wishes into numbers: "affordable" becomes a retail price and a unit cost, "lasts long enough" becomes minutes of running time. Every decision after it is measured against it.
How long does product strategy take, and what does it cost?
The brief takes about 3 weeks and costs $250 to $1,000, as an order of magnitude, not a quote. Strategy then runs through the gates of the phases it plans, and each phase gets a fixed price once the brief is written. The effort can vary fifty times from one product to another.
What is a stage gate?
A stage gate is the decision point at the end of a phase, where you review what the phase produced and choose to continue, adjust the scope, pause or stop. You commit to one phase at a time, without penalty for the phases not yet started, so the budget follows the decisions instead of running ahead of them.
What is a BOM, and when is it written?
A bill of materials (BOM) lists every part and component of one unit. Unit cost is what it costs to make one unit, the number the factory has to meet. A first BOM comes with the prototype files, as on Photonix in December 2021 and KORU in December 2020, and the factory quotes production from the completed one.
Do I need a proof of concept before the design?
A proof of concept (POC) is a rough, working test of the one function a product depends on, built before the final design. You need one when the product depends on something not done in that form before. If it uses known technology in a new shape, you go straight to development. Find your next prototype in six questions →
Can you help me raise money for my product?
Yes, with the material investors and funders read: the brief in numbers, a strategic plan, renders and animations for a deck, a grant application or a campaign. We pitched eXalt to private investors with its plan, and the raise combined private investment and public funding, including about US$1.2M from government. A crowdfunding campaign itself stays with you or a specialist agency.
When should I talk to factories?
Once the works-like prototype is settled and the DFM pass is done. Before that, every revision changes the quote. Production molds are paid to the factory, separately, and depend on the size and number of parts; a small batch of 10 to 200 cast units can come first.
Can I start before I have raised money?
Yes. Many founders start with the brief and the concept, then use the renders to raise the money for development and prototypes. The gate after the concept is often where that decision is made, with a direction chosen and images good enough to show.
How is my idea protected?
We sign an NDA from the first exchange if you want one, and under our standard contract the intellectual property is transferred to you once all invoices are paid. If you plan a patent, speak with a patent attorney before you show the product in public, a crowdfunding page included.