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Audioacity

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Hi everyone,

I've just finished reading The Millionaire Fastlane , and this is my first post here.

I've been kicking around an innovation idea that I think could seriously improve and possibly even revolutionize modern fitness equipment, and I had a few questions/thoughts that I would love a little bit of insight and help with.

I've set up a meeting for next week with a product development company here in Austin. My thought as to the best plan of action is to develop the idea a little further and get a stereolithography, 3D-printed prototype ready. With this, I would pitch my product to various local gyms with hopes of gaining interest / orders, allowing me some capital to move forward into full-on product development/pitches to larger gyms.

Does this sound like an appropriate plan and/or does anyone have suggestions or ideas? Is there anyone here who has experience dealing with product development companies?

When should I be considering incorporating myself and which type of incorporation (C, S, or LLC) seems like a good fit for what I'm trying to do?

If anyone has any answer/thoughts/ideas or anything of the sort, it would be extremely helpful, I don't have very many people I can bring this to that I would trust, but I figure this place is a pretty good start!

Thanks!
 
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randomnumber314

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Welcome. Find people who have done what you're trying to do, get in your car drive to them and meet them. Don't be afraid of telling people what your idea is, if you don't tell them, they can't help. Drive to Houston(?) and visit zen******* too. Worry about incorporating when money is about to exchange hands.
 

Audioacity

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Welcome. Find people who have done what you're trying to do, get in your car drive to them and meet them. Don't be afraid of telling people what your idea is, if you don't tell them, they can't help. Drive to Houston(?) and visit zen******* too. Worry about incorporating when money is about to exchange hands.

That sounds like a great idea. Who is zen******* / what does he do? Does he routinely meet with people from this forum?
 

jon.a

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IAmTheJeff

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zen******* is in Albuquerque, NM. I think it's Jack Edwards that's in Houston (or somewhere in TX.

On your idea, I would pitch it from paper first unless you have no doubt that it will be a winner. Is there anything like your product on the market? Are you sure? Is there a definitive need for your product, particularly in a gym environment? Maybe it's the next Bowflex, but we'll never know unless you share it.

Have you checked to see if anything like it is patented? Have you applied for a patent on it? I believe there is much more work to do before you get stuff 3d printed and start pitching, but that's up to you, if you want to do all that work to protect yourself and your time
 

Audioacity

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zen******* is in Albuquerque, NM. I think it's Jack Edwards that's in Houston (or somewhere in TX.

On your idea, I would pitch it from paper first unless you have no doubt that it will be a winner. Is there anything like your product on the market? Are you sure? Is there a definitive need for your product, particularly in a gym environment? Maybe it's the next Bowflex, but we'll never know unless you share it.

Have you checked to see if anything like it is patented? Have you applied for a patent on it? I believe there is much more work to do before you get stuff 3d printed and start pitching, but that's up to you, if you want to do all that work to protect yourself and your time

There is nothing like my innovation on the market currently, from what I can tell. Essentially, as anyone within the fitness community will tell you, free weights are far superior to exercise machines for several key reasons. My idea and preliminary designs address those shortcomings and if produced / marketed correctly, could hold immense value addressing this pretty large need.

I have not checked for patents yet, but I do know that this product development company I'm meeting with includes an existing patent search in their services.

I agree that there is much work to be done before I get this design printed and start pitching! I didn't mean to imply that I was looking to jump right in without doing my due diligence, rather, I'm just trying to be proactive here. I want to get as much information as I possibly can throughout every step in this process.
 

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