There is three important things to look for that many company overlook.
1- Do i manufacture myself?
2- Do i subcontract my parts to a manufacture?
3- Is my new idea will compete with my existing product?
If you don’t already manufacture parts, you should sub-contract at first until you achieve a break-even point. My template helps you create a “virtual manufacture”, thus creating a break-even calculation to self production. With the help of your market study, This template lets you stage gradually what part and quantity will you start with.
For any introduction of a new product there is always a question, is that new model will compete with an existing one? A balance must then be found between the two. Gradually order less of the old model because the new model will take is place. Be ready to make less profit at first. A new design will be costly at first. The setup time for a new product to take market is an average 2 years to be stable.