Transportation of hardware between locations takes a substantial amount of time.
The Solution: Undertake Design-For-Manufacturing (DFM) practices to make the process more foreseeable.
Many-a-times it is connected with their psyche, as most investors have some background in software and engineering, which means they can’t assess the hardware with an unbiased view.
The Solution: demonstrate market validation and demand for the product. Tap into any opportunity that will help propel your business forward.
However, the same cannot be said for running a hardware business.
It is not a walk in the park for the hardware guys as they must navigate various challenges of hardware business. Then there is the whole shenanigan of hardware shop business.Creating a model for high-tech merchandise takes a good amount of time (and not to mention the costs associated with it).In the course of creating and scaling a prototype for mass production, there are strong chances that your product has changed drastically.Also, in order to gauge the market, be sure to conduct market research.There are several market research firms in India who could help you.If you are new to entrepreneurship and want to run hardware business, your best bet would be checking with a hardware business consultant.A business development consultant can help you with fine-tuning your idea and help at each stage of the business cycle.As the world is geared more and more towards a technologically advanced future, it would be only natural that investors would be less willing to invest in a hardware product.They are reluctant to invest in something before it is a proven market.While setting up a hardware business in India, you need to have enough funds to nurture your startup.If you don’t have the required capital, it is best to postpone your plan lest you fall in a financial rut.