As I reflect on my experiences in the cleantech space, I'm reminded that even the most innovative ideas can be met with unexpected challenges. In this article, I'll share three crucial lessons I learned during my time as a managing director of the Activate Houston Community, where we developed solar trackers and concentrators for a startup.
Lesson 1: Stay Ahead of the Game
In the early days of our solar startup, we were convinced that our solution was poised for success. We believed that by reducing the amount of expensive solar cells needed, we could offer a commercially viable rooftop tracking solar concentrator. Our mistake? We forgot that our competition wasn't just traditional solar panels but also emerging technologies like lithium-ion batteries.
In today's fast-paced climate tech world, it's essential to keep your head up and keep an eye on where the market is going. Be ready to pivot quickly if your original design becomes untenable. Remember, you're not special – there are many other companies working on similar solutions, some of which already have a head start.
Lesson 2: Flexibility Is Key
When we set out to launch our first product, we identified a price target and went heads down to design a product that met those specifications. Unfortunately, the price point of solar panels dropped significantly during that time, making our design no longer competitive. We learned this the hard way.
In reality, developing hard tech takes time, so it's crucial to keep an eye on market trends and be prepared to adapt quickly. Don't get too attached to your original idea – stay flexible and be willing to pivot when necessary.
Lesson 3: Do Your Homework
Our biggest mistake was skipping the step of building and testing prototype quantities closer to home before manufacturing in China. We were so focused on reducing costs that we forgot to test our designs thoroughly, resulting in costly mistakes and wasted time.
Before attempting to scale production, make sure your designs work and your product is feasible both technically and economically. Take the time to build and test prototypes – it may seem like an extra step, but it'll save you from headaches down the line.
By learning from these lessons, you can avoid common pitfalls and increase your chances of success in the app startup world. Remember to stay ahead of the game, be flexible, and do your homework before launching your product.