Find out how a mom got her idea from concept to market. And other business discoveries.
Tuesday, June 24, 2008
Back Up North for the Summer
Working from paradise this summer. In more ways than one. R is with us for the whole summer, which hasn't happened for a few year in a row. That means camping and beach trips and hikes.
How the heck am I supposed to get anything done?! Somehow he worked into his contract that should he decide to come back, he wanted the whole summer off. Naturally this ginormous corporation that he works for said,
"You can't have the whole summer off, in the middle of production!"
R: "Then I'm not coming back."
GiantCo: "You HAVE to come back!"
R: "Then give me the summer off."
GiantCo: "You can't have the summer off!"
R: "Then I'm not coming back."
GiantCo: "You HAVE to come back!"
R: "Then give me the summer off."
GiantCo: "You can't have the summer off!"
R: "Then I'm not coming back."
Yeah and it went on like that for a little while. R was in a nifty position of not really needing the GiantCo job but wanting to work on the project, but REALLY wanting to go Up North for the summer since he had missed out on that too many years in a row. Obviously he was not getting anywhere with GiantCo so he hired an agent. He had wanted to get one to negotiate higher pay anyway... Next thing we know there is a contract with a pay raise and time off from June 15 until August 18th.
What the?! Ok, so the agent is worth her 10%, which is the increase she managed to get him.
What's the moral of my story? Well I didn't start this post with the intention of finding a moral, in fact when I sat down I didn't even have an idea of what I was going to chat with you about, but I did had a few nice pics I wanted to post.
The moral I guess would be, if you aren't getting anywhere with a tactic you are employing, switch it up. Bring in some heavy guns or try another angle. Just saying you are doing something isn't the same as actually doing it.
Now go have a terrific day.
Thursday, June 05, 2008
So you have a great idea... Now what?
Great inventions come from inspiration. You have done the first step, which is to look around for people who might know how to do the parts of the process that you don't. Or gather information to arm yourself for what lies ahead.
Your first step would be to get a prototype made. I would try here in the US. China is fantastic in helping with development but I say "in the US" because the communication and information turnaround is much faster during the development stage. I have never used them but there is a company called Pattern Design Unlimited.
Check out their website. They are a full service development company from what I gather. They would be able to work with you to get your prototype made. Once you have that, looking for a good manufacturer is next. Stateside... $$ but smaller runs... Overseas... more cost effective per unit but much higher volume, bigger runs.
I would recommend you shop your prototype around to specific stores that would buy it, before you go producing it. Tradeshows are where buyers go to find new products. Do some searching on the internet for specific tradeshows that would be a good fit for your product. Then you would contact the shows as a potential exhibitor and show your product there, by paying for booth space and setting up a display. Tradeshows are great because all the buyers from everywhere come to you.
Or you could try to get a sales rep who already carries other silimilar products like yours, to add your item to their stuff. They take a commission (10%) but it saves you tradeshow expenses and they already have client relationships with buyers, so that is a good route.
The internet is your key to finding a rep and tradeshows to expose your product. I would have at least $50,000 set aside to properly develop and pitch your idea. That does not include production costs. That is start-up and marketing, so you can create materials to go with the product (brochure, business cards, product brand name registration, patent (if applicable)? Consider setting up a limited liability company to protect yourself from liability resulting from product usage etc.
Think of the product as a small piece to a bigger puzzle. If you are serious about investing in your idea, it's not just about developing a product, but also about what to do with it once you have it. Development can be expensive and it would be a waste of time and money to create something without also considering what you will do with it once it's created, in order to get a return on that investment.
Good luck with it! And don't forget to have fun!
Your first step would be to get a prototype made. I would try here in the US. China is fantastic in helping with development but I say "in the US" because the communication and information turnaround is much faster during the development stage. I have never used them but there is a company called Pattern Design Unlimited.
Check out their website. They are a full service development company from what I gather. They would be able to work with you to get your prototype made. Once you have that, looking for a good manufacturer is next. Stateside... $$ but smaller runs... Overseas... more cost effective per unit but much higher volume, bigger runs.
I would recommend you shop your prototype around to specific stores that would buy it, before you go producing it. Tradeshows are where buyers go to find new products. Do some searching on the internet for specific tradeshows that would be a good fit for your product. Then you would contact the shows as a potential exhibitor and show your product there, by paying for booth space and setting up a display. Tradeshows are great because all the buyers from everywhere come to you.
Or you could try to get a sales rep who already carries other silimilar products like yours, to add your item to their stuff. They take a commission (10%) but it saves you tradeshow expenses and they already have client relationships with buyers, so that is a good route.
The internet is your key to finding a rep and tradeshows to expose your product. I would have at least $50,000 set aside to properly develop and pitch your idea. That does not include production costs. That is start-up and marketing, so you can create materials to go with the product (brochure, business cards, product brand name registration, patent (if applicable)? Consider setting up a limited liability company to protect yourself from liability resulting from product usage etc.
Think of the product as a small piece to a bigger puzzle. If you are serious about investing in your idea, it's not just about developing a product, but also about what to do with it once you have it. Development can be expensive and it would be a waste of time and money to create something without also considering what you will do with it once it's created, in order to get a return on that investment.
Good luck with it! And don't forget to have fun!
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