Startup Funding Espresso – Steps to Creating a Prototype

Steps to Creating a Prototype

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

A prototype is an early model of your technology to show proof of concept and gather feedback from potential customers.

Prototypes can also be used to raise funding from investors.

For building a prototype keep these key issues in mind:

The current market for your product -- how do customers currently solve the problem.

Specific needs of the customer -- what are the requirements of a solution.

Usability -- how will the customer interface and interact with the product.

Competition -- what current solutions are available and how are you better, faster, cheaper.

Market position -- what position in the market do you want to take.

Here are some key steps in building your prototype:

Ideate on a potential solution.

Create a drawing showing how it will look.

Develop a mock-up showing what it might look like in physical form such as a box, a layout of the screen showing the functionality, etc.

Create an actual prototype that provides limited functionality.

Test the prototype to understand performance.

Refine and enhance the prototype incrementally.

Prototypes can be useful in writing patent applications, giving investors the image of what can be built, and showing customers how it may solve their problems.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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