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Bootstrapping Basics

Part 1

Bootstrapping Basics Article by LA NPDT, a Product Design, Development, and Marketing Company based in Shreveport, Louisiana ‘Bootstrap’ comes from the 19th century figure of speech, “to pull oneself over a fence by one’s bootstraps” – an obviously challenging task. Nowadays, the term refers to getting into or our of a situation using existing resources. In the business world, it simply means starting a business without a lot of outside assistance. But how do you go about bootstrapping your business idea?

Start With a Great Design

  • Research – Gain familiarity with your market and how it is being served, by utilizing tools like Google and Pinterest.
  • Talk – Discuss your idea with those around you, and analyze the feedback you receive.
  • Design – Seek professional input for the design process. Find someone with experience in product development, who can help you create two critical tangible deliverables:
    • Professional design sketches: a culmination of your product concept thus far.
    • 3D Renderings: photo realistic versions of the formerly sketched concept.
If at this point, you find people are supporting you, you’ll know you have a great idea, a solid foundation, and are ready to begin prototyping!

Prototype Wisely

Now it’s time to convert your 3D Renderings into a file that can be manufactured!
  • 3D printing is a popular, affordable way to create a product before spending thousands on an actual mold.
  • Other less expensive alternatives exist, such as soft tooling or CNC Milling for injection molded products.
  • A great option as well is trying to modify current products to fit your product idea.
Once you’ve achieved a great design and prototype, you’ll be ready to create your product! Rapid prototyping allows you to cut financial costs while increasing the value of your work!      

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LA New Product Development Team is a comprehensive product development firm, offering services from idea generation and product design to manufacturing and marketing. LANPDT collaborates with startups and established businesses to transform concepts into market-ready innovations.

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