What do you do if stakeholders and investors don't see the value and potential of 3D printing?
When it comes to 3D printing, it's not uncommon to encounter stakeholders and investors who may not immediately grasp its value and potential. This advanced manufacturing process, also known as additive manufacturing, builds objects layer by layer from digital models, offering a degree of flexibility, customization, and efficiency traditional manufacturing can't match. However, the challenge lies in convincingly communicating these benefits to those holding the purse strings.
To bridge the gap of understanding, start with education. Explain how 3D printing works and its advantages over conventional methods. Highlight the ability to create complex geometries, reduce material waste, and the potential for rapid prototyping, which can accelerate the development process. By providing concrete examples of how 3D printing has solved real-world problems or created new opportunities, you can paint a clearer picture of its practical applications and potential return on investment.
-
Cassidy Silbernagel
Mechanical & Additive Manufacturing Design Engineer | Bringing creative & award-winning designs into reality using DfAM
Don't educate them!!! If you start there, you're already failing. Don't sell machines. Don't sell parts. Don't sell a technology. Sell an idea. Sell a solution to a problem. Sell a story which achieves these things. Don't tell them what the technology is, what it does, or how it works. Tell them about the solution that you are providing. Tell them about the value of what you are presenting. It doesn't matter in the background what the underlying technology does. What does matter is what it does for them. They need to know that you have a solution, they don't care how you got there. Make them care. Once they care, and they see how it will help them, then they may get interested and then you can tell them how it works.
-
Luiz Justino
Professor / R&D Specialist
I would demonstrate all the results that my team and me got using 3D Printing Technology, considering fast protyping, cost reduction, product development and optimization of processes. I would show for the investor and stakeholders all the successfull case studies employing additive manufacture, and I guarantee to convince them.
Next, focus on the numbers by demonstrating the return on investment (ROI). Show how 3D printing can lead to cost savings through reduced material usage, lower shipping costs due to on-demand production, and minimized inventory with just-in-time manufacturing. Explain that while the initial investment might seem significant, the long-term savings and competitive advantages can be substantial.
Utilize case studies to show how other companies have successfully integrated 3D printing into their operations. These stories provide tangible evidence of the technology's benefits and can help stakeholders visualize its potential impact on your business. Discuss how these companies have improved their product design, shortened their supply chains, or customized products for niche markets, leading to increased revenue and market share.
Discuss future trends in 3D printing to illustrate its growing importance. Talk about advancements in materials and printing technologies that are expanding the range of applications. Mention industries that are increasingly adopting 3D printing, such as aerospace, automotive, and healthcare, which signal a broader industry shift that could be critical for staying competitive.
It's important to address any concerns your stakeholders might have. They may worry about the technology's maturity, the costs of implementation, or whether it fits into the current business model. Listen to their reservations and provide well-researched responses. Discuss how the technology has matured, with improvements in speed, material properties, and reliability. Reassure them with a strategic plan for integrating 3D printing into existing workflows without disrupting core operations.
Lastly, consider forming strategic partnerships with 3D printing companies or research institutions. These collaborations can provide access to expertise, reduce risks associated with new technology adoption, and showcase a commitment to innovation. Partnerships can also create opportunities for joint ventures or co-development projects that can further demonstrate the value of 3D printing to your stakeholders and investors.
Rate this article
More relevant reading
-
3D PrintingHere's how you can achieve success in the 3D printing market by navigating its complexities.
-
3D PrintingWhat do you do if your organization's 3D Printing innovation is stagnant?
-
Supply Chain ManagementWhat are the main challenges and opportunities of using 3D printing for supply chain innovation?
-
3D PrintingHere's how you can enhance your decision-making skills as a leader in 3D Printing for informed team choices.