To manage inventory effectively, consider pre-orders to gauge demand and reduce upfront costs, or shorten lead times to minimize cash flow issues.

When you charge more, you can achieve higher margins, allowing you to invest more in customer acquisition and build a stronger competitive moat.

To balance rapid shipping with maintaining quality, I recommend cutting scope rather than compromising on timelines.

If you're charging significantly less than competitors, you might be attracting customers who only want the cheapest option, leading to misleading data about your product's demand. Successful products often charge a premium rather than being cheaper than competitors, as they solve significant problems for customers who are willing to pay more for effective solutions.

Designing for fast turnaround is crucial in fashion, allowing for quicker product updates and inventory management.

Pricing below cost can be a risky strategy for gaining market share, often leading to unsustainable business practices. You might want to price a little lower now because your margins are going to improve with time, but it's a risky maneuver, and I advise startups to maintain an 80 to 90% gross margin.

The cost of prototyping in hard tech is decreasing, making it easier to develop innovative solutions with less capital and in shorter timeframes.

We learned that in hardware, you must create products that people are willing to pay more for than it costs to make them.

When negotiating prices, don't be afraid to ask for more than you're comfortable with; it can lead to better outcomes and understanding of customer value.