Project... product perfection. My journal:

[PEBBLE]

Hi guys, relatively new to the forum, just read the book which I think was amazing, thanks MJ!

I made this post in a different part of the forum:

https://www.thefastlaneforum.com/community/threads/innovation-idea-step-1.55655/ (ignore the troll)

But just realised this is a better section for this category.

Ok, back to business, I have a list of ideas but my main project that will solve some problems in a medium popular recreational market also the military/police industry.

There are existing products out there that I think are heavily flawed. I want to perfect it and i think if I can turn my idea into reality, it would sell like hot cakes and potentially change the way the game is played in that recreational environment.

This product is pretty small and quite expensive. So really keen to beat people to it because I’m sure other people might be thinking of the same idea. If I was to compare it to something,say the TV just had been newly invented, then my idea would be like inventing a TV but with a remote control, which was pretty handy upgrade to get back in the day as you know.

I have never thought about inventing a new product before and god knows where to start?
common sense would be that step 1 is to find an engineer/inventor, he/she would have to make a prototype, play and cut around with metal work and merge it with some electronics, this is the most important step. Perhaps do some 3D printing to cut costs and then make the metal version after things are finalised. I think I could sell these at £200 per unit and the cost maybe up to £50.

I understand, that pitching the idea to a potential idea investor would not be a good idea. Like MJ says, investors want prototype proactive executioners so I need a prototype, I need the thing in my hands.

I am guessing it would be quite expensive and my life savings could be at risk if the engineer does not succeed at making my product with my unique selling points.

I am soaking up the forum like a sponge and getting all the info as much as i can, but figured i would make a thread and gather a discussion of what to do, perhaps get linked to the best content...

This project is quite scalable and distribution shouldn’t be a problem. Like I said, it is a small item so I would only need space for a pallet or 2 so no need on wasting money on warehouse rent.

Please feel free to give me any constructive criticism as possible. I need to do this. i will regret not trying. I am currently in the slow lane and this could be my big ticket to freedom!

Thanks in advance.

Phil from Manchester- UK

 

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[PEBBLE]

This is my step by step plan from my limited experience. This was compiled due to common sense, feel free to add any more steps or any constructive feedback:

• Step 1 - Find and inventor/engineer. Completed
• Step 2 - Make a 3D print prototype and get a feel for it. (PENDING)
• Step 3 - Make real prototype. (PENDING)
• Step 4 - Test the crap out of it. Find flaws, ask friends on their honest opinions. (PENDING)
• Step 5 - Make a website with the product available to pre-order (give a discount for pre-orders) (PENDING)
• Step 6 - Marketing- Make a video of the product, post on forums/blogs and Facebook groups/pages and prepare the industry for what is coming for the future. (PENDING)
  
• Step 7 - Work the numbers and see if you can afford the demand. If not, find an investor and show them the pre-order data. Sales with clear profit is what the investor needs to see. (PENDING)
• Step 8 - Try to make a few dozen, give some samples away to friends and people with popular youtube channels/blogs involved in the industry and see if they are happy with it. This will increase pre orders due to their reviews and receive valuable feedback. (PENDING)
• Step 9 - Make last minute adjustments and make a bulk order from the supplier. Get it sent to my residence. Don't waste money on a warehouse. (PENDING)
• Step 10 - Quality control, test more and make sure I am happy with the final product with packaging too. (PENDING)
• Step 11 - Get a good deal with a local courier, price bid them against each other and pick the best deal. (PENDING)
• Step 12 - Full steam ahead. Sell sell sell! do the work yourself at 1st. (PENDING)
• Step 13 - Automation, find someone who will do it for me which free me up. (PENDING)
• Step 14 - Quit my full time job. (PENDING)

 

[PEBBLE]

Step 1 - find an inventor/engineer


Ok today, I made a job proposal on Elance.com. I kept my idea a little vague since i don't want to tell unqualified people my whole idea.

For the most part, i want to talk to some people and get a feel for their competency. I got a few people to respond but mostly countries like India. His grammar was quite poor too so all Red flags at the moment, still messaged him though, they might have some interesting ideas that I haven't thought of yet.

Please feel free to point me to some referral engineers that can help me.

Thanks for reading.

 

[PEBBLE]

I am in a good conversation with a fella on Elance:

https://www.elance.com/s/saadabdulrehman/

Seems like a very smart chap, good feedback etc -- his reply was very informative and it seems like he is on the same page and knows EXACTLY what I want. It scares me that I already trust him and can already visualise working with him. Maybe I am rushing this part...

His hourly rate is $20 - which is alarming, I have no idea how fast he can deliver a prototype, so I am at the mercy of the time and quality of his work. If it takes 100 hours then that is £2000 just for one prototype that may or might not work, My life savings are about £15,000 right now. So I am hoping to have some left over for the big order. (investor free)

I will speak to him for a while and perhaps figure out a set price instead of doing the hourly price stuff. This is a very scary part of process, I really don't want to blow my life savings on something that may not work, but I guess risk is all part of business.

 

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[gostorm21]

Hey man welcome and respect to you for taking action so quickly!

I had a similar problem when I hired on freelancer ($25/hour) but I found that if you just ask them what their estimated time to complete the project is it helps ease the tension you may be feeling! If you're scared he will replicate your concept for himself when you describe it before officially "hiring" him, head to rocketlawyer and get a free NDA drafted. Then have him sign it in whatever way you see fit (print and sign/scan, etc.). Problem solved!

Best of luck to you...I'll be watching with interest!

 

[PEBBLE]

Thanks for the closure, I shall do just that.

I may of started pretty soon, but this idea has been burning the back of my mind for a while now, I go to sleep dreaming about it, go to work day dreaming about it.

Update, talking to the inventor, again, seems very competent. He is currently drawing some rough sketches and i shall do the same back.

I have come to realise, that because my product electrical it will mean that it will require a little maintenance. There will be a device inside, that will turn electrical energy to kinetic energy which is kinda like the engine to a car to my device.

What this means, is that I need to provide a warantee's and what not. So will have to stock up on solenoids and send them out if the customer has issues. This means it would be 90% passive or maybe I can get someone to handle a few repairs and shipping. I am still up the challenge though so it won't steer me off the road.

 

[smithsta]

Hey mate, welcome to the forum.

Sounds like you have a clear plan which is great. I look forward to reading your journey as you go along.

Could you not launch a crowdfunding campaign for your product if you don't want to use your life savings?

 

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[PEBBLE]

Hey mate, welcome to the forum.

Sounds like you have a clear plan which is great. I look forward to reading your journey as you go along.

Could you not launch a crowdfunding campaign for your product if you don't want to use your life savings?

Is Kickstarter one of those crowd funding things? I forgot about that, like i said, I am new to this, I shall look into this. Keeping my life savings sounds like a good thing.

Thank you so much.

(P.S. Feel free to link to more crowd funds, will have a google myself too)

 

[PEBBLE]

i'm so excited right now and very nervous at the same time, me and my engineer have been blasting each other emails with ideas. I have 2 unique selling points that would blow the existing product on the market out of the water, however....

I had a much better idea to one of my selling points which would make it much less complex and more reliable.

He then turned my other selling point into an amazing idea that in theory cures a compound problem that I never planned on solving because I wasn't ware of the technology. This means the product solves more problems which increases the value and obviously the price

I am really excited about this project. I have sent him an email of what his step by step strategy and an estimated time of completion so I know how much the thing is going to cost me. At the most, I am willing to throw £5,000 to get a finished prototype in my hands. this is a quarter of my life savings.

Finger biting weekend for sure:

Watch this space.

 

[PEBBLE]

Guys. I really need an Audibook/podcasts to listen to whilst I work.

What is THE best book in your opinions for a book developing your own product ?

I'm finding it surprisingly hard to find something on Google

 

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[RoadTrip]

Not sure what the best book is but I believe Invent It, Sell It, Bank It from Lori Greiner is a pretty popular book on product development.

Nice thread btw, will be following this for sure

 

[Entrepreneur99]

Very interesting and informative thread, Looking forward to see how it pans out!

 

[PEBBLE]

Not sure what the best book is but I believe Invent It, Sell It, Bank It from Lori Greiner is a pretty popular book on product development.

Nice thread btw, will be following this for sure

Thank you so much!, it is now on my Kindle. I have been addicted to Shark Tank recently and have developed a huge crush on Lori haha.

Now that my crush on her is developed, I just need to make a prototype of it, market and distribute it out to her (i didn't mean that sound so creepy lol)

 

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[PEBBLE]

UPDATE

I am pleased to announced that Step 1 has been completed. (please scroll back up to see the green writing)

There will be 3 people working on this project for me in exchange for about £600 which is way under what I expected to pay. This is much less risky for me so that is superb news, I just hope they are not total amateurs but £600 is not a huge loss if they turn out to be rubbish. He has set out some milestones and predicts a prototype can be finished by mid November, he will be keeping me in the loop with pics and Skype chats.

There might be more delays, complications along the way so I expect to pay a little more but I that is how the cookie crumbles, I am really enjoying the process, it feels like when you decide to get back in the gym and you go nuts at it. (but without the whole quitting and paying the rest of the year subscription lol)

I can't tell you how excited I am right now. It is constantly on my mind all day.

 

[PEBBLE]

Update, I got my engineer fill out his own NDA with my and his name. Some sources on the internet seems way complicated with hiring attorney's etc which I really would like to avoid.

Hope someone with experience could chime in to give a 2nd opinion..

 

[PEBBLE]

Update

My engineer has designed the CAD file and I can see my product from multiple angles, multiple options, such as an opaque version, then a transparent version that you can see the internals inside, and then a broken down version with the parts spit apart. I can zoom around the file on all angles, feels great to seeing something develop even if it is only at the digital stage.

I have read the Lori Greiner book on developing your own product, I recommend it! I know exactly what to do, I need to look more into patents because you have 2 types of patents:
- Utility patent (the way the product is designed, you have to make it function different, having this patent protects your product the most)
- Design patent (the way the product looks, you have to make it look different, this protects you the least because a slight different look bypass existing patents)

Feel free to point me to some things patent related if you anything.

Thanks for reading.

 

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[PEBBLE]

edit- double post- oops

 

[PEBBLE]

Ok a hiccup, the engineer says I need more power for my product which means two 9Volt batteries are now required, don't forget, my product is small and has to be small, so I hope to god he finds some way how to make the 2 batteries fit. This life of this project is now 50/50 whether I can be in business or not. Fingers crossed:

 

[PEBBLE]

Good news, the engineer found a way around the issue i mentioned. So it is back to the plan!

Still in the computer CAD stage, some little changes here and there for the product, but very interesting to see the cyber blueprints to my empire.

 

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[stormjb1]

Great thread. looking forward to seeing you progress.

Question: have you walked into any roadblocks yet?

 

[PEBBLE]

Great thread. looking forward to seeing you progress.

Question: have you walked into any roadblocks yet?

Not really, there was a situation where I would need 2 batteries to get what i want which would be unacceptable for my idea. The engineer found an alternative solution and we are back on track.

He is just on vacation right now, but i'm patient. He is very competent.

 

[PEBBLE]

Update

The engineer has been on a little vacation, I am very patient and this week he has produced more CAD designs on the electrical components part of the product. I have a lot of cool data and digital designs, but nothing materialistic just yet but a physical prototype should be in the making soon.



The electronics have to be shock proof so therefore it will cost a lot more than standard circuitry. The margins will be ridiculously high so I think investing into quality components would be very wise.

 

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[Mr.B]

Then have him sign it in whatever way you see fit (print and sign/scan, etc.).

In the future if you or others need to get stuff signed, EchoSign is free if you only need the occasional signature and makes the whole process very easy for all involved. I used to hate printing, signing and scanning documents.

@PEBBLE, exciting stuff! It seems like you've really hit the ground running. Keep it up, I can't wait to see what you've created when you are ready to share.

 

[PEBBLE]

Quick update

Still working on this. Just a slow process is all!

 

[PEBBLE]

My engineer has suddenly stopped responding, this is getting me worried.

 

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[PEBBLE]

FML -My engineer has slacked off and a month went by where I was still waiting on him to respond, I sent him another message that I might have to take action which prompted this reply from him:

Hi Phillip,

I am sorry that I am non responsive. I was asked to take part in World Future Energy Summit, 2015 in Abu Dhabi. It was the opening ceremony yesterday. I just saw all your messages. Please do not freak out on me my friend. As you know the deliverable is already in the dropbox and the link was shared. You are covered.

As for the vendors, I am just as frustrated as you are. Just a little better at hiding it. The truth is that when you are talking about a prototype development, good vendors just run away. I have a few vendors roped in who can do this in good quality on the mechanical side. But with the PCB side, I have no such good vendors. At the moment, the lowest quotation I have for the PCB is $500 which I consider to be very high (and this is a chinese company).

I would admit that my concentration has been lacking in this matter. Let me make this upto you. The conference finished up on Thursday for me. I will fly back atleast give you all the information for prototype development on your own.

Regards,
Saad


I have to be honest, this has severed my partnership with him and I wonder what to do. my problem is that I am being too nice and makes me want to keep him on, but the biz side of me wants to say, ' I paid you to make a prototype! - if you can not do that then you should not of accepted the job in the 1st place, I want my money back, waste somebody else's time, you could of told me you were going on a vacation for a month"

Anyone know what to do? This is on Elance by the way, despite the hours of design he has done for me and that I paid him for, I hope that I can claim my money back and find a more competent engineer who has access to these vendors.

Any body have any input?

 

[PEBBLE]

My response:

Hi Saad, thanks for finally responding.

I have to be honest, your behaviour recently has made me very hesitant right now whether or not we should continue our partnership.

Let me explain, if I was the engineer and I was going on vacation for a while, I would make sure you tell my partners this information. I messaged you on your cell phone too, you could of easily replied on that but you ignored me.

This job was to make a PHYSICAL prototype, it seems that you're very good at the design stage, but inexperienced at the physical side of things, I understand you that there is not much you can do if the vendor does not answer your requests but you accepted my job offer which was to make a prototype, i just figured you would have existing relationships with these vendors.

If you told me: 'Phil, I can design this for you, but you may need to to find someone else for the prototype stage, then I will not of rewarded you with the job' (I had so many engineers that said they are partners with vendors and shouldn't be a problem and I still chose you)

I feel very sad and a lot of my time seems stolen. I am not sure what to do with you.

Saad, can you make me a physical prototype for me, yes or no?

It is either you persevere with the vendors or I get my money back and find someone who will. Sorry.

I want to keep you Saad, i want you to pay you, but I hope you understand my points. i don't want any of us both to waste our valuable time (and money) here. But you kept me in the dark for weeks and weeks!

Phil.

 

[BlueAtom]

Do you think he might have a little too much info on your idea, and trying to make other plans? I know you said your partners but how much do you know about this guy? Hope it works out well for you though.

 

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[Mamadoo]

I would admit that my concentration has been lacking in this matter. Let me make this upto you. The conference finished up on Thursday for me. I will fly back atleast give you all the information for prototype development on your own.

That sounds like he doesnt want to work on your project anymore, so dump him

 

[PEBBLE]

Do you think he might have a little too much info on your idea, and trying to make other plans? I know you said your partners but how much do you know about this guy? Hope it works out well for you though.

It did occur to me too, thanks for the reply, but my gut feeling is that I doubt it, it isn't exactly a world changing device that everybody wants to use, it is more for a niche of recreation that he has probably never done himself.

I just think he is a computer nerd, which he is good at, just inexperienced at the important bit, i guess i was naive to award him the job without too much research,