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How should a business owner budget for the product development process?

Jason Andrews is the Managing Executive of Catalyst Product Development Company, and in this week’s “Getting Started” segment, he discusses the importance of proper budgeting for product development in a business plan.

Catalyst focuses on product development from start to finish, and the company works with customers who range from entrepreneurs to large companies. Andrews encourages businesses to think about a budget for the development side and take into consideration the engineering portion, the industrial design, and potentially the prototyping. Additionally, the capital cost that it takes to build the components and the production side of what the unit will cost should be considered.

For more information on Catalyst Product Development Company, visit the website.

This segment is made possible by the Indiana Economic Development Center.