Crusader1986 Posted November 30, 2017 Posted November 30, 2017 Ok guys, so I have an idea for a product that might sell...Thing is I have no experience of creating/manufacturing a product and nor have I ever had any experience in finding the right companies or people to manufacture/produce anything. I'm also very wary of having other people steal my idea so I have quite a few questions and not sure where to go. For now I have a business idea. But I have a number of questions...One being what's the best way to go about creating a prototype for what I want to create? Another is who can I trust to ask about how to create my product without them steal my idea? Which manufacturing companies are recommended for building/producing my product? The thing is I know what I want to create but I'm pretty worried about people stealing my idea who should I ask for advice? Also I've heard people say that you should ask people if they would be willing to buy your product to see whether there's any demand for what you want to sell. Surely wouldn't that cause the chance that people might steal your idea? With regarding asking people if they'd be willing to buy it would it maybe be more wise to just go ahead with the idea and see if it sells? Luckily my product seems like it wouldn't be too expensive to mass produce so if it fails I wouldn't lose that much money, and if it succeeds, it would be a big success. So maybe I should go for it and see what happens?
Dylan Lawrence Moore Posted November 30, 2017 Posted November 30, 2017 20% of running a business is the actual product or service you provide. 80% of running a business is knowing how to run a business. From the content of your post, it sounds like you need some more training and experience in the latter 80%.
barn Posted November 30, 2017 Posted November 30, 2017 40 minutes ago, Dylan Lawrence Moore said: 20% of running a business is the actual product or service you provide. 80% of running a business is knowing how to run a business. From the content of your post, it sounds like you need some more training and experience in the latter 80%. And THE PARETO principle is resurrected. ('all-knowing' smile) 45 minutes ago, Crusader1986 said: Ok guys, so I have an idea What is the one thing that you do WELL, better than anyone around and convinced there's a need for? Barnsley
Crusader1986 Posted November 30, 2017 Author Posted November 30, 2017 OK, so what do you recommend? Any books I should read? What should my next step be?
Dylan Lawrence Moore Posted November 30, 2017 Posted November 30, 2017 Just now, Crusader1986 said: OK, so what do you recommend? Any books I should read? What should my next step be? Which country do you live in?
smarterthanone Posted December 1, 2017 Posted December 1, 2017 Ok here is the answers. 1. Nobody cares about your idea. They won't steal it. If they steal it, so what? As soon as you launch they could just buy one and copy it then. Do realize 99% of businesses do not offer a completely unique product without a copy cat competition. - if you aren't making some chunk of plastic and its like some high tech airplane part then ok go for patents and stuff like that, but I doubt what you are wanting to make is worthy of a patent (plus the $10,000+ dollars it will cost to get it and it still wont protect you from Chinese knock offs any ways). 2. Regards to getting a prototype. Find someone at your local college that can run their 3d printer. Have them build a few units and put up a spec sheet with basically the autocad dimensions and exactly the materials to use ie Plastic 3425 painted with xyz paint color 123 for plastics. 3. Send it to a REPUTABLE factory in china. Yes. China. Have them make a small order of like 20-100 units. They will be very expensive because the order is so small. Check the quality. Show them to friends see if they like it. etc. 4. Raise funds for a big order. Hit up your family and friends etc. the bigger the order the cheaper the unit price. Store the pallets in your garage. 5. Sell the stuff. you can go through like Amazon and other store and deal sites. You can make your own website. You can get them in local retail stores. Don't bother with walmart or anywhere like that until you have a PROVEN sales record AND you can offer insane low prices. You are welcome.
Dylan Lawrence Moore Posted December 1, 2017 Posted December 1, 2017 5 hours ago, Crusader1986 said: OK, so what do you recommend? Any books I should read? What should my next step be? I would start with Rich Dad Poor Dad and Think and Grow Rich. That should get you enough to find other books. Find an entrepreneurial program in the UK that trains you to act and think like an entrepreneur. Watch out for scams (anything claiming that you'll turn into an entrepreneur in a weekend or that you will work LESS in the short term), but be prepared to pay for decent education.
barn Posted December 1, 2017 Posted December 1, 2017 (edited) 13 hours ago, Crusader1986 said: OK, so what do you recommend? Any books I should read? What should my next step be? I don't like giving random advice, prefer to understand first. If that's not what you mean, I hope others can give you what you are asking for. A bit more if you are interested. (When I set out to do my first project I did the following. 1. my definition What I do? Why I am doing that? Why is that a value for others? 2. market research 3. a prototype 4. a short presentation 5. a 100 word intro 6. a short questionnaire 7. a flyer 8. an icon / logo / phrase encompassing for what I stand 9. 10 reasons what means I'm successful +1 long term goal 10. 10 reasons why I am not succeeding +10 ideas how I'd fix it 11. define, set amount of time and work I'm willing to put in and a projection based around said calculations for an estimated state of the project within 3months time from start 12. creating, preparing a simple daily checklist to record progress and comments if any 13. a backup of all the above in digital and on paper 14. show created project to someone credible for any useful commentary, even if I have to pay for the advice (my case was a lunch) Personally, I don't take anyone seriously who haven't done at least 80% of the few essentials I've mentioned. But hey, that's me. Barnsley Edited December 1, 2017 by barn pointers
DustyOne Posted December 1, 2017 Posted December 1, 2017 After you figure out a plan, take what you think you need for investment capital, double it, then add 10% and have an equal amount in reserve.
Crusader1986 Posted December 1, 2017 Author Posted December 1, 2017 That's brilliant advice, thanks guys. Regarding the prototype, sorry if it's just me being stupid but how do I design the specs for the product in the first place? Should I download an app/plugin to design the program? Would coding be the only way to design the product? Or should I just sketch/draw it out? Or maybe there's other ways of designing the product by myself?
barn Posted December 1, 2017 Posted December 1, 2017 40 minutes ago, Crusader1986 said: That's brilliant advice, thanks guys. Regarding the prototype, sorry if it's just me being stupid but how do I design the specs for the product in the first place? Should I download an app/plugin to design the program? Would coding be the only way to design the product? Or should I just sketch/draw it out? Or maybe there's other ways of designing the product by myself? Thanks for the entertainment, no offense. I just found it funny. A: no way a prototype can be created before the general idea. B: If you don't know (what, why, how's that valuable), I challenge you to create anything... haha No, you aren't stupid at all. Definitely not, otherwise you'd be stuck at sales or marketing, but you'd have done already what qualifies people as determined. I think, (amateur friendly opinion) you're smart enough to know, how to avoid the doing part. (personal experience too) All the best, but I doubt you'll start anytime soon. I'll be happy(for you) if upon revisiting I'm disproven. Barnsley
MCM Posted December 12, 2017 Posted December 12, 2017 On 12/1/2017 at 8:56 AM, Crusader1986 said: "....what's the best way to go about creating a prototype for what I want to create? Another is who can I trust to ask about how to create my product without them steal my idea? succeeds, it would be a big success. So maybe I should go for it and see what happens?" 1) You need to disclose whether your product an Innovation or an Invention? 2) You cannot Patent an innovation but you can Patent an Invention. 3) I understand your apprehension about disclosing product idea because it does not take much to regard the idea as being in the Public Domain and you cannot Patent product which is already in the Public Domain. 4) Patents are expensive and only offer limited protection anyway. 5) You can register a design ($$$) but a few modifications and your design can be copied by someone else - so pretty useless. My advice to you do some market research, get the product produced if it proves to be worthwhile and be damned good at selling it.
Recommended Posts