The promise of virtual reality technology — long anticipated as the “wave of the future” — looks to finally be paying off. Consumer products like the Oculus Rift are combining ever-more-seamless virtual reality experiences with more accessible price points, and even video game consoles have been using motion-detection technology for several years to create an immersive, “you are there” experience.
As an entrepreneur exploring the possibilities for manufacturing your new product, you may run into unfamiliar phrases from time to time, and “turnkey manufacturing” might be one of them. That nomenclature hasn’t really crossed over into the non-manufacturing world, so you may be wondering what it’s all about. So what is turnkey manufacturing?
Manufacturing shouldn’t be intimidating for a budding startup — but it’s understandable that sometimes, it can be. The mysteries of the unfamiliar processes, terminology and methods that are revealed once you look closer into the “how” of taking your product to market can seem overwhelming. Manufacturing does, like any other aspect of your business plan, demand education and research. Fortunately, by investing the required time to learn some of the biggest pitfalls to avoid, the production step of your product can be solved and perfected, just like other areas like your marketing or distribution plans. You’ve found a good place to start: here are five of the biggest mistakes for a startup to avoid before selecting a manufacturer.