IPVMU Certified | 08/11/14 07:02pm
I think that many in the tech startup world dramatically whiff when estimating the difficulty of producing physical products.
Manufacturing, from production tooling to quality control to raw materials/ component supplier management is a huge undertaking. Look at any number of startups to see evidence of this - Lockitron, for example - where the idea is solid, but turning that idea into a merchantable product is fraught with headaches from outside impacts. Ultimately, if execution is poor, this might turn a great idea into junk.*
In many cases, this aspect of the startup is just assumed to turn a satisfactory result. Investors and companies alike seem to over simplify the effort here, and then miss every shipping date they set due to 'unforeseen problems'.
My head may be full of billion dollar ideas, but if I cannot make them reality, are they really worth a billion dollars?
*I know nothing about any specific difficulties with Korner.
Who decided the startup was worth $6,000,00.00?