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Frequently Asked Questions Part 2
In This Episode:
Why focus on products/hard goods? ** We see most of the mistakes in the manufacturing space ** There has to be more focus on the user experience, safety, and the way it is built Manufacturing goods is a very different beast
** You have to figure out all these manufacturing challenges ** If your plan is just to have a website ... good luck ** You have to know how and where your customers buy ** It's about distribution, packaging, product market fit and understanding your customers ** Our combined expertise works for this specific purpose ** We are different. We have to bring manufacturing back to this country ** We put our own money in this. We are full committed ** There are a lot of people involved with incubators who have never worked in manufacturing.
** We help people create small batch samples of their product to get real world feedback ** How are you going to make it today, next year, in ten years ** Step 1 is proof of concept, then prototype to get user feedback and onto minimum viable product ** Once you are selling you have revenue and more options ** Getting clients gives you important user feedback and tells you what to focus on
** We took the product in, redesigned it, refocused the marketing and pushed it back to market ** There are millions of ads every day. How are people going to find you ** Who funds First Strike Incubator? Why a privately funded incubator? ** We fund First Strike Incubator ** Whatever works for you and your product is great ** Our goal is to get you the win ** No one is really making money from the incubator ** The point is to find teams and products we believe in ** Private funding makes it so I'm not getting paid unless you get to market ** Publicly funded incubators get funding based on how many people go through ** It's not about outcome. It's about checking boxes and pushing numbers ** I don't care if we put 2 people through. If we get them to market and selling, phenomenal ** You are going to learn how to ask the right questions ** Our win is making money together ** Ask the other cohorts, you should be meeting, what a win means to them ** You should be treating this as an interview ** If you are not willing to ask and answer hard questions, we are not for you.
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By No FollowersIn This Episode:
Why focus on products/hard goods? ** We see most of the mistakes in the manufacturing space ** There has to be more focus on the user experience, safety, and the way it is built Manufacturing goods is a very different beast
** You have to figure out all these manufacturing challenges ** If your plan is just to have a website ... good luck ** You have to know how and where your customers buy ** It's about distribution, packaging, product market fit and understanding your customers ** Our combined expertise works for this specific purpose ** We are different. We have to bring manufacturing back to this country ** We put our own money in this. We are full committed ** There are a lot of people involved with incubators who have never worked in manufacturing.
** We help people create small batch samples of their product to get real world feedback ** How are you going to make it today, next year, in ten years ** Step 1 is proof of concept, then prototype to get user feedback and onto minimum viable product ** Once you are selling you have revenue and more options ** Getting clients gives you important user feedback and tells you what to focus on
** We took the product in, redesigned it, refocused the marketing and pushed it back to market ** There are millions of ads every day. How are people going to find you ** Who funds First Strike Incubator? Why a privately funded incubator? ** We fund First Strike Incubator ** Whatever works for you and your product is great ** Our goal is to get you the win ** No one is really making money from the incubator ** The point is to find teams and products we believe in ** Private funding makes it so I'm not getting paid unless you get to market ** Publicly funded incubators get funding based on how many people go through ** It's not about outcome. It's about checking boxes and pushing numbers ** I don't care if we put 2 people through. If we get them to market and selling, phenomenal ** You are going to learn how to ask the right questions ** Our win is making money together ** Ask the other cohorts, you should be meeting, what a win means to them ** You should be treating this as an interview ** If you are not willing to ask and answer hard questions, we are not for you.