3 ms·
> Step 1: have capital. Almost everything related to hardware has either a minimum order quantity or is uneconomic at small volumes. So you need to plan to make
by WastingMyTime89 5y ago
> Step 1: have capital. Almost everything related to hardware has either a minimum order quantity or is uneconomic at small volumes. So you need to plan to make 1,000 units and pay for them before you receive any customer money.
An interesting corrolary to this point is that somewhat counterintuitively it is often easier to aim for the highest segment of the market you target with a niche product than for broad appeal.
Having a very high markup and selling price means that even small batch become feasible. Sourcing for high quality part sellers generally means you will have less issue with quality control. Selling less means shipping and inventory management is simpler. Marketing is easier because your customer base is more narrow. As a bonus, high margins give you more leeway to make mistakes.