Q. Where do entrepreneurs find investors?
Depending on the type of investor whether it is a singular accredited investor acting alone, angel investor group or venture capital group, they can all be found in the usual venues that interested parties, who love innovation and technology, can interact with the creators of it. This can include but is not limited to:
• University technology hubs, such as the Office of Technology and Licensing at the universities of Florida or Miami.
• Venture capital association meetings such as the Gulf Coast Venture Forum and the Florida Venture Forum.
• Various local technology incubators.
• Angel groups typically have a system for fielding ideas and then hold scheduled meetings to review and qualify them.
• Accredited and singular angel investors can be found through wealth managers, accountants and attorneys who have a large rolodex of deal makers and investors.

Q. What do you do next when an investor says no or not now?
You thank them for their time, making you better and ask, “what would it take to make you a believer and then investor in my company?” Also ask them who in their network may have an interest in such an idea and company. Investors have different asset class preferences and their rejection of your investment is probably not personal. They may have a rule that high risk, high return investing is not in their long term wealth creation strategy. The key to this process is to talk to a lot of potential investors and realize that your conversion ratio will be close to 2% to 5%. So if you talk to 50 people an outstanding conversion ratio would be 3 investors.

Q. What is the most important activity an entrepreneur should do to succeed in raising capital?
Build a rock solid plan for execution and have very realistic assumptions in your plan. You never get a second chance to make a first impression and a well explained and realistic plan will help overcome doubts. Investors who can afford an investment of this type have likely learned through their own success how to separate blue sky and an achievable plan. Spend time creating an Executive Summary, a ten Page Power Point, and a five year financial forecast and carefully and honestly call out the strengths, opportunities , weaknesses and threats.

Q. Are there pitfalls to avoid in accepting an investment?
Use a securities attorney to draft your investment materials and don’t take just anyone’s capital. The capital you bring in should be from a savvy investors who understands the risks and can ride out the storm if things get bumpy. Most of all find investors who bring more to the table than capital. Find strategic investors who can take your company to the next level; make sure you have good rapport with them from the beginning. It is common for start-ups to fall apart over personality issues.

Q. What is your favorite part of the deal making process?
Seeing all the hard work of the team professionals come to reality and then finally sell or get a purchase and ship and deliver the product.

Q. Is there any particular aspect of a deal that appeal to accredited investors or angel investors?
As we have mentioned, accredited investors like certainty, although they will understand this is a higher risk opportunity. They want to see a credible management team. They know that a qualified management team is as important as a great idea.

Q. What is the difference between an angel investor and an accredited investor?
The best way to a make this distinction is by thinking of the accredited investor as a term to explain the investors net worth and standing vis a vis SEC regulation as it relates to financial strength. Accredited is a term defined by its meaning in SEC regulation. Those rules change from time to time so make sure you are up to date on the latest qualifications. The “Frank/Dodd” Bill came into effect last year and made this hurdle much higher. Angel groups are usually made up of accredited investors, but don’t have to be in all cases. The term “angel” is used to explain what role they play in the investing timing of a company. Angels are early stage and act as a life line to a company’s growth and typically command a larger stake in the company with more protections within their investment than later investors.

At ROBRADY, we love to foster an atmosphere of learning into our studio and encourage the growth of creativity and innovation within our community. In early August, ROBRADY participated in a job shadowing program with the STEM program at Booker High School. Samuel Hicks, a math teacher participating in the program, spent a week working with the ROBRADY team learning about our creative process. He shadowed our Mechanical Design, Industrial Design, CNC, and Rapid Prototyping teams to learn how each discipline adds to the creative process. Mr. Hicks is hoping to take what he learned at our studio back to his classroom and help his students implement workplace skills into their school projects. Below is a letter from Samuel Hicks about his experience at ROBRADY:

Dear Mr. Brady,

I was impressed with the world-class performance of your company. Etched in my mind are the flawless presentations and detailed explanations of basic company operations. The employees were very accommodating and genuinely hospitable. It was rewarding to meet well informed professionals who took time to skillfully share their craft with a public school instructor.

Thank you for your time and willingness to host me as a teacher extern. I observed a variety of skills and job competencies that many of the students in my STEM Math class can easily attain. This intriguing experience with ROBRADY will enable me to relate other relevant real-world examples to help students understand the connection between the classroom and the workplace skills necessary for success.  The current industry knowledge I obtained last week and the project-based learning model we are implementing will assist students as they prepare to make a smooth transition to college and future careers.

The impact of what you do was evident in the eyes of students I saw touring your facility. What an inspiration! I appreciate the role ROBRADY is playing to insure bright futures for both students of Booker High School and the citizens here in the local Sarasota community. We anticipate positive interaction with your representative who will sit on our advisory committee. The committee will speak to project teams, offer advice for projects, serve as judges, and coordinate plant field trips. As the school year approaches expect to hear from us.

Sincerely

Samuel Hicks
STEM Math Teacher
Booker High School

Q. Of the experience you have gained managing different projects and teams, how does that contribute to managing a diverse team like ROBRADY?

Q. What do you think is the most important part of the design process?
In the last question I spoke a lot about making mistakes. I think failure is a hugely underrated part of the design process. The key is “failing early and often” and then building upon those failures to generate a positive outcome. The key is not making the same mistakes twice. This sounds really negative, but in practice its how design gets done. You try something, it doesn’t work/fit/feel/look right, and so you make an adjustment and try again. Soon you have a solution that has been proven out during the design process. Then, when you implement this solution your chances of success are far greater than if you didn’t go through this iterative design process. The biggest challenge is understanding that this is not a linear process. Many times an early failure sends you off on a completely different track. Most designers understand this intuitively but most business people want to know why we didn’t just do that the first time?

Q. What do you like and dislike about your design related education? Was it worth it?
My educational experience is a bit unique. I entered Industrial Design school right out of high school in 1990. The first two years of my education were a blast. I was like a sponge soaking up everything I was being taught. But by my third year I was starting to struggle with figuring out how all of this stuff was going to come together and create a meaningful career for me. Right about that time I landed a summer job that turned into a 16 year career. In 2009 I returned to ID school to finish my last year and get my diploma. That was a terrific experience! I really enjoyed sharing classes with the up and coming generation of designers and learning about the way they view the World. My biggest frustration was how little real world experience design school provides towards preparing students to enter the workplace. So yes, it was worth it but not for the obvious reasons. The skills I learned in school have more to do with what I took out of the experience than what was on the curriculum. I just wish I had had that revelation 18 years ago!

As Design Manager at ROBRADY, Donovan manages the daily activities of the studio. He came to ROBRADY from Techtronic Industries, where he was the brand manager for the Ryobi TEK4 line of electronic tools. Prior to that he built and managed the in-house design team at Griffin Technology, the world’s largest Apple accessory brand. Donovan has an Industrial Design degree from Auburn University and has spent the last 18 years building and managing award winning design teams.

Fun Fact: During a school assembly in 4th grade I was misbehaving with some friends by making chicken clucking sounds while the Principal was talking. She heard me and called me up on stage to make my sounds for the whole school in hopes of embarrassing me and teaching me a lesson. Armed with a microphone, I went to town and the whole assembly quickly degenerated into a cacophony of barnyard sounds and laughing. After spending the rest of the day in the Principal’s office I was then assigned the lead role in the upcoming Christmas play.

Q. What do you think is the most important skill to have in order to compete in the graphic design field?

There are a few other skills I think are extremely important, and also help you in your collaboration. Time management is key, if you can’t juggle multiple projects, and stay on deadline, then neither can your team. Communication can be the difference between a client making a good decision and a bad decision, or your design team hitting the mark, you have to be able to say why you did what you did, or communicate the needs of the project to other designers in order to succeed. And, finally, their is the ability to adapt your style to needs of the client or project. A product geared towards women fifty-five and older shouldn’t look like it was designed for 18 year old men. Sometimes compromises need to be made in your personal style to create a successful design.

Q. What do you take inspiration from?
Everything. But no seriously, everything. Whether it be a color palette from a photograph to a design style used for a product package, I find it everywhere. It tends to really get influenced based on projects I am currently working on, but I am constantly on the lookout for interesting designs, interfaces and user experiences that work and that don’t work. I have also found that I have been learning more from things that fail than from things that succeed. Sure, everyone knows the experience of un-boxing an Apple product is clean, simple and well designed, but what about their competitors, how do they do it and what makes them as successful, or less successful, this generally leads to better ideas on how to succeed, but not just be another ‘me too’ product. The other thing I like to do when looking for inspiration for a specific project is look at things in a completely different market space, designing for print? Look for inspiration in the digital realm, and vice versa. Competitive (same market space) and comparative (different market space or medium) research can lead to more differentiated concepts.

Q. What products or designs have really impressed you lately?
Well, we have been doing a lot of packaging recently, and I have seen some really sweet designs during our research. One of the ones that sticks out to me is the Beats line of headphones by Monster. I think the branding is well done, and very consistent across the products, from the packaging to the in store POP. Also the packaging fits the price points of the product. The expensive Pros package feels like a $400 product belongs in it while the lower end $100 tours maintain the feel of high end even though they use different materials. Also they didn’t miss any details in the product that ties it all together, from the red cables to the laser etching its all a cohesive brand experience. I think they really hit the mark.

I was born in Silver Springs Maryland in ‘78. I have lived in Oklahoma, Maryland, Delaware and Florida. I am a Graduate of the Ringling School of Art and Design with a BA in Graphic and Interactive Communication, with a minor in Photography. I have been a member of the ROBRADY team for almost eight years and am currently the Graphic Design Director.

Fun Fact: I was taught to throw a football and play chess by a midshipmen in the Navy that my family sponsored when we lived in Maryland. I throw a decent football and I have a terrible late game in chess.

As the Design4 Conference draws closer, the conversation of “what do you Design4?” is one that I have been having with a variety of designers around the country. From creating a system for transporting clean water in third world countries, to solving more local challenges such as humanizing products in the U.S., people design for a variety of reasons. This past week, I spoke with Rob Brady of ROBRADY design on what he designs for.

For Brady, what gets him up each morning is the dynamic series of events in getting a product to market. “Trying to get products designed and developed, then to actually get them to market,” he says. “It’s a real noble effort because if you can do all that and then get it to market with a handsome margin, then the company, of which you are working through, prospers, which means that all the people who go to work there prosper, which means all the kids get to go to college or they get the house or they pay off their bills.” He says this based off seeing both sides of that paradigm, from companies shutting down entire departments after the bill of materials for a project skyrocketed, losing the product. “To me, it’s been an emotional connection, wanting to be successful with fantastic products, because I believe that a fantastic product will survive anything.”

After discovering the field of Industrial Design, Brady realized it was something he had been doing his whole life. Building GoKarts, different vehicles, and other mechanisms as a kid, he was not far off from the work he does today. From the Vectrix electric bike to The GMP LifeSync (R) Wireless ECG System, ROBRADY design has dabbled in a wide array of fields, designing everything from industrial and consumer products to medical and marine tools.

“What’s beautiful about Industrial Design is that you can stay within Industrial Design, but jump from designing vehicles to designing jet boats to medical products to industrial products to consumer electronics; it’s incredibly diverse,“ says Brady.

In the evolution of his own career, Brady found himself further and further from that hands-on design process vetted in creative problem solving as the company grew larger. “I really had to battle with that for a while; what I came to realize was as I was taking on more of the contractual business, the growth elements, what I really love is creativity. If we’re doing business and we’re trying to set up a new opportunity, or a new studio like at the University of Florida, it’s about the creative aspect of making that deal work that really charges me.”

Over time, that passion for creativity only grew. As of lately, Brady finds himself excited about the ‘humanizing’ of design. “So many companies come to us with new technologies; what’s really needed is to humanize that technology. Fuel cells, as an example, electric vehicles, bring new challenges back to the same human being.” Currently in studio, Brady finds himself solving performance, medical, and ergonomic challenges in the realm of Ziivaa, their latest design venture.

“We’re challenged with trying to solve what’s necessary from a humanizing standpoint, with those new products, and that’s what makes it so exciting.”

Carly Ayres is an undergraduate student at the Rhode Island School of Design, student representative to the Industrial Design department, and co-founder of RISD-ID.ORG.

Syndicated from: IDSA

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Q. What fascinates you in building prototypes?
The most fascinating part of building prototypes is that the nature of our work forces us to research, explore, experiment, learn, and develop innovative models day in and day out. Just as products are redesigned and developed so are the materials and processes used in the fabrication. There is very little mundane or repetitive when creating the variety of prototypes found in the concepts developed in the ROBRADY Prototype Lab.

Q. What’s your favorite material to work in?
That’s a tough one; I have always had a passion for woodworking, but enjoy working with any material that allows forgiveness; wood, plastics, and modeling boards.  All of these materials can be utilized in an additive or subtractive process during modeling. I also enjoy the material that is unknown, or new to me; using unknown materials allows the team to explore, learn, and recognize applications where something new and different can be introduced.

Q. What’s a typical designer’s toolkit for you?
This varies depending on the project and could be as small and simple as Exacto blades, 5 minute epoxy, a Dremel and bits, or a variety of drawing tools; rulers, guides, compass, protractor and templates. Other times we work with tools as large as a table saw, Mig welder, or Bridgeport mill. Occasionally projects require us to create custom tools, if I had to limit myself to one tool; it would have to be a good sanding block.

Q. What do you carry around and can’t live without?
Mastercard.

Q. How did you discover you had a talent in design?
I dropped out of the University of Washington School of Business, and enrolled in the School of Art. During my second semester of pre-requisites my 3-D Design professor told me I was a natural for Industrial Design. At the time I didn’t even know what Industrial Design was, the more I learned the more I enjoyed the experience of product development.

Ryan Donahue is a Sarasota native and Graduate from the University of Washington, with a BFA in Industrial Design. He has been working in the Design industry for 8+ years. When Ryan’s not working you can find him fishing, running, snow skiing, and/or just about anything outdoors.

For students and recent graduates, participating in an internship is an excellent way to shape and plan for a successful career. Not everything can be taught in a classroom or learned from a book, making interning an excellent vehicle for introducing those new to the workforce to a level of experience they may not otherwise be able to gain.

Why intern? The experience you’ll gain will improve your skills, build your resume and network of contacts, and increase the likelihood that you’ll have a job upon graduation. You can apply classroom learning to the workplace, as you develop related work experience. A chance to try out one’s interests, values, and abilities in a work setting, as you develop and enhance your professional skills. Other skills like leadership, analytical thinking, communication and interpersonal skills are best learned on the job. By interning, one can experience firsthand what someone in a given career does each day. You’ll work on real projects, interact with real clients, and participate as a full member of the team. Your opinions will be valued, and your contributions will make a difference. Not only can you apply what you learn in the classroom to the real world, but you can also take those experiences back into the classroom. You will gain valuable experience that will help you in the future.

Am I ready for the real world? You need experience to get a job, and you need a job to gain experience. If you haven’t worked in a company yet, you’re not prepared to choose a job after graduation. You need to gather insight and get an inside glimpse of the industry before working in it. It will expose you to a different way of thinking and working. In fact, it may be difficult to compete for the best jobs if you haven’t completed an internship yet. When you get job interviews, employers will be more impressed to see you have practical experience rather than just classroom experience. Most companies will actually hire successful interns over candidates they’ve just met. If you succeed and excel in your internship, you’ll definitely have a competitive edge over the other applicants. So try and get an internship in a company that you would want to work in after you graduate. An internship is also ideal for recent graduates who have been experiencing difficulty breaking into their dream industry. The experience you’ll gain will make you much more attractive.

Emily is a New Yorker new to the South and the real world. Graduated from Pratt Institute with a  BFA in Advertising this past May. She is currently interning at ROBRADY design.

Erik Holmen, Industrial Designer

Q. How long have you been an industrial designer and what is your schooling background?
I trained at the College for Creative Studies (CCS) in Detroit, graduating in 2003 with a BFA in industrial design. Growing up, I loved drawing and designing airplanes and spaceships, wanting to be an aerospace engineer. This was before I knew about industrial design. After a high school art class presentation for the CCS transportation program, I was hooked. I am now living the dream, designing cool new products and vehicles every day!

Q. What are three traits that every industrial designer should excel in?
Creativity, Problem Solving and Visual Communications. Creativity and problem solving go hand in hand; where every product is a three-dimensional puzzle which needs to meet a list of physical and ergonomic requirements, and must be beautiful at the end of the day. Visual communications is extremely important, as is needed to sell your design to others. Traditionally we communicate through sketches and 3-D renderings, depending on the product and stage of completion.

Q. Where do you go for inspiration at the beginning of a project or when creating concepts? Do you spend time researching online blogs, magazines, or print media?
The first step in the design process is competitive / comparative research. This helps to wrap our minds around a product’s market. This is typically done by online searches, or in-store, depending on the product.  For general design inspiration, I keep a stack of art and design books on my desk. I would also advise every designer to keep a “cool stuff” folder on their computer. Everything visually interesting you come across on the net should be kept here for future inspiration.

Q. What software do you prefer? What program do you think is the most vital to know today?
The classics are Photoshop and Illustrator. For sketching and rendering I swear by Corel Painter with a 9″x12″ Wacom tablet. When it comes to 3D modeling and rendering I use Rhino3D and Vray for the render engine. Every industrial designer should have some skills when drawing in the computer, as it is an extremely versatile tool. Knowledge in a 3D program is a necessity, as it enables you to communicate in 3 dimensions with engineers, and can produce photorealistic images and animations of your designs.

As part of the Business Development team for ROBRADY design, I am on the front lines – one of the first levels of filtration to full engagement – and trust me when I say: I want your idea to be a home run! I’m a guy who will be pitching it to the review team and it only helps my task when something truly innovative crosses my path. I’m often inspired by what is presented; however, I can’t stress enough about the importance of “preparation”. Although you may have invented the next mousetrap, I need to know if it makes sense from a business stand point- is there a market? Is there a need? Can it be built affordable? And yes, is there a profit to be had?

Invention, of course, breeds innovation. Your best shot at success is to prepare your idea or invention to its fullest prior to presenting it. In all business there is a level of risk and when it comes to taking an invention to market there is substantially more. Have answers in your arsenal readily available of how to mitigate that risk.  Here is the checklist:


-Product Description


-Where / what is the market opportunity?


-Are there potential for different versions, accessories, monthly subscriptions, apps, etc?


-What is your experience in the industry?


-Be prepared to discuss your funding needs / capabilities.


Just yesterday we were presented a product which we thought had a tremendous amount of potential but weren’t sure of the market timing. It would have been to the inventor’s advantage if they had come to us with rough market research, an initial business plan or draft sales forecast. Proving the viability of the idea would have helped develop partnership opportunities sooner rather than later.

There is no skeleton key that will unlock the doors to success. In the current economic climate the market drives us; we do not drive the market. I am of the opinion that successful ideas making it to market these days are the ones that enhance proven products already in the marketplace. High unemployment numbers, down economy, loss of homes – we all know the drill. It’s likely that if consumers are going to part with their hard earned money it will be for something that makes a product they already understand even better.

“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.” – Warren Buffett