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CADa Dia

A detailed account of a Fastlane process...

Marc B.

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Here's a collage from the first product. Progress from left to right, top to bottom.

FC_Collage.png

It took five months to get from measuring the OEM part to having the first packaged product...and three days to sell out. There were communication barriers, design errors, machining errors, and other hiccups along the way that slowed our progress. It's important to remember that none of those problems were impossible to fix.

At any point in your journey, when you get to a sticking point, take note! Literally, write it down in detail. Note:
  • What went wrong.
  • Why
  • What you did about it
  • What you will do next time to avoid it
Make a list, make a flowchart, take pictures. Do all of the above, if you feel inclined! You will commit the event to memory, and if you happen to forget...you have a step by step guide (maybe even a pictorial) detailing how to get past the hurdle.
 
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Marc B.

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Maxim: I would never sell anything that I wouldn't buy.

Impress yourself. If you're not happy with the function, fit, and finish of your product or service, and you couldn't imagine paying for it (or paying your price for it)...you're not alone. You have been buying goods and services for years; you recognize quality and value when you see it, so step back and frame your business from a consumer's perspective.

I evaluate my products from conception to completion, making minimal compromises. I didn't say no compromises.
Remember these three:

1. Need to Haves - product/service features that cannot be omitted.
  • Ex, post 31:
    • The fan cover needed to fit all Original Equipment Manufacturer (OEM) and aftermarket installations.
    • The new feature needed to work.
    • The final price needed to be reasonable, so production costs had to be minimized too.
2. Nice to Haves - product/service features with time and monetary expenses that are easy to manage and, but can be ignored just as easily
  • Ex, post 31:
    • It would be nice if we could machine it from a single block of aluminum (more expensive than cast parts).
    • It would be nice to have certified material (material that has been evaluated to match specifications). If I'm asking for 7075 aluminum, I don't want to find out later that the alloy is closer to 6061 (different hardness, melting point, machinability, etc.) Sometimes this is a "need to have," but not always. Certified material costs more.
    • Color anodizing. It would be nice if we could get them in black, and anodizing takes less than an hour, but I won't pay more than $3.00/unit for the service.
3. Wish List - product/service features that require you to go the extra mile.
  • Ex, post 31:
    • Custom engraving, personalized parts
    • Bulk discounts don't apply to small quantities (1-5). The customer's files need to be converted to work with my software, and the logos must be retraced. Personalized parts are more expensive and take longer to make. I need confirmation and prepayment from my customer, so I'm not stuck with a part that has "John Doe Enterprises" engraved on the front if my buyer backs out.
    • Altogether, it takes more effort, but my customers LOVE seeing their logo on the parts. It makes them happy, which makes me happy. It just comes at a cost.
 
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Marc B.

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Before the first product:

Joining an active forum, Facebook page, or other social network is one of the most direct ways to find needs, and I started by looking for trends. It's your job, first and foremost, to familiarize yourself with your potential audience. Become a regular, think like a consumer.

If you've been here long enough, you'll notice that new visitors ask the same questions ad-nauseam. Our moderators address the repeated(1) topics by creating(2) sticky threads. That was my one-two punch for getting started in my field:
  1. I looked for repetition.
  2. I designed a product to solve the problem.
(this shouldn't be news)

Maxim: Always listen to your customers and your audience; they will guide you, explicitly or implicitly.

Example (explicit) – First product (in previous posts): "Wouldn't it be cool if someone made a _____?"

I heard it once, and thought "He's right; it would be neat. That's definitely something to consider."

I started keeping a mental tally, and shortly after I started to hear echoes,

"Does anyone make a _____?"

"Mr. So-and-so has all of the tooling to make it...I wish he would."

…but he hadn't yet, and I wasn't going to wait for him to deliver. In this case, choosing where to start was easy because my future customers knew exactly what they wanted. It took one forum member to plant the seed in the others' minds. I just had to be part of the conversation.

The solutions won't always be obvious.

Example (implicit) - Second product: "My manifold is distorting after long stints. I never had this problem until I bought the XYZ manifold."

Again, members chimed in with their stories, but not everyone was in agreement. I had to see what the majority had in common. I called the right people and borrowed the faulty product from a friend. I had to evaluate. It wasn’t evacuating heat fast enough, and the melting point of the old material matched the exhaust gas temperature. Guys living in hotter states experienced the failure more often. Long story short, after I put the pieces together: poor design, wrong material. Ergo, the manifold softened.

A little critical thinking, a few phone calls, and some time in front of the computer, and some iPhone photos yielded a batch of new parts.

manifold_FLF.png


They sold out within days of the release, before word had a chance to spread.
 

Marc B.

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When you start working on your plan, and you're green, the process will seem slow and prohibitive to success. This is especially true for ambitious people who have a lot of ideas and can't wait to see them come to fruition--they abandon projects as quickly as they started and move onto the next, hoping that it will bring results faster. No? Not this time either? The next idea will be the one. Sticking with the same task can be a chore, but you need to persevere!

Maxim: Practice makes proficient. Proficiency yields efficiency.

For example, as a designer, more practice with my software allows me to work faster. Increasing familiarity allows me to use advanced tools and features to produce better parts. Speaking of production...that flow chart in Post #30 looks different now. Steps have been eliminated, or consolidated. Having rapport with my machine shop means I don't have to waste time looking for one. I simply request a quote for new parts, and send a purchase order. I know which file types they like and their payment/delivery terms.

Give yourself a chance to refine your process and build momentum. In physics, momentum = mass x speed. In TMF (chapter 3), MJ defines speed as “execution and your ability to go from idea to implementation.” The more momentum you have, the harder it is to stop...

intake_manifold_FLF.png
 
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Marc B.

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Three months ago, I talked about the momentum of your actions.

I've maintained that momentum, and I can see that the effects are snowballing. If you've been following, you'll see that the engine parts I designed and produced were starting to build a comprehensive package. That wasn't my intention from the beginning, but business models evolve. It just made sense to complete the idea. If I'm going to build A, I might as well do B, then C...

But what does that mean in terms of business and entrepreneurship?

There is VALUE in the follow through. Sometimes, that requires pressing forward when you don't know where the end is. I started with a few products that weren't mine and ended up creating a handful that were because I could -- there was nothing that proved otherwise (more on this later). Okay, so I have a first product, then a second, then a third. I sold them. I named my venture. I drew a logo. I found a way to connect with more people and bring attention to what I was doing.

When I started to see my name in social media chatter I realized...I created a brand.

You do this step by step. It requires, google searches, reading books, pictorials, calling favors from friends, asking questions, vulnerability, late nights, caffeine, and Tylenol. I needed these things in no particular order, but they HAD TO HAPPEN for any of this to work.

Your action plan might be different than the next guy, and that's okay! "John Doe millionaire says to start in a huge market, but Jane Doe millionaire says to start in a niche market. Which is better?" There's a lot of great advice on this forum, and if you're read through enough, you'll find that sometimes it's conflicting. Do your research, pick a method and go. You'll figure out what works best for you. That's why it's called blazing YOUR OWN path.

My market isn't huge, and to some that's a big no-no, but I'm applying the principles I've learned from TMF and the Fastlane Forum to it. As a result, I'm discovering opportunities, creating value, learning, and being rewarded for it ($).
 

Marc B.

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Might as well make this too...
IMG_1326xs.jpg

..and put it together!
IMG_7679xs.jpg

I thought a complete exhaust system would have been nice. Didn't exist for my application, so it was time to make it exist. I found a guy, and made a phone call using the number on his website. Our [abridged] conversation:

"Can you make something like this, for one of these?"
"You bet! Send me a sketch of what you want"
"How many can you make?"
"As many as you want."
"How soon can I get a prototype?"
"I can start fabricating one today."
"How much do you need?"
"$<reasonable price>"
"You have a deal."

That was easy. I love moments like that. The unknown can be daunting. Ask questions. You owe it to yourself to see what's possible and just how easy it can be to make it happen.

Prototype to finished product. I had it within a week.
Prototype_Pipe.jpg
 

Ultra Magnus

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No one replies, while this man has gone from practicing CAD to building and selling complex, physical parts, to building his own brand. Good job, sir! It must be very satisfying to see these parts actually made, from conception to production.
 
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Marc B.

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I glorified my process and you guys deserve more transparency. The last few months since late October have been slow. I mentioned in another thread that I was having trouble with my manufacturer, and the problems have been building.

Communication with the manufacturer hasn't been easy. It started early last year when I assumed that a precision machine shop overseas would operate the same way one does in the U.S. Assume NOTHING. I expected my first batch of parts to arrive thoroughly inspected, with minimal machining marks and deburred edges. I expected them to use a fly cutter on the last pass. I expected them to trash parts that had damage and start over. No such luck--lesson learned. Standards aren't always universal, so your expectations must be clearly expressed in writing. I include special instructions as "notes" in my purchase orders and make sure that they're unique to each line item.

In Parts Machined Incorrectly - "How Should I Move Forward?" I requested a rework bill after the last goof, and the factory reluctantly paid. Since then, subsequent orders have had more mistakes than ever. Machine operations omitted or forgotten, logos engraved backwards, misspelled, on the wrong side of parts, or not at all, and parts look rushed. Some are unsalable. Most of these problems are caught on final inspection, before delivery, when the factory sends me photos of the "finished" parts.

I insisted that they send photos of the batch during production, so we can catch mistakes early, but my requests have been ignored. In the end, we had to start over, lead times are doubled, and I'm left sitting on my hands in a holding pattern.

Things aren't always sunshine and rainbows, but you can't let that stop you.
 
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Marc B.

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9 months since the last update. I have to summarize my notes. I'll do my best to make them as actionable and informative as possible. If you have questions, ask away.

In the meantime, read @Vigilante's thread:
https://www.thefastlaneforum.com/community/threads/can-a-2-tool-help-make-you-a-millionaire.47375/

SUPER simple, helpful advice. I liked the inexpensive legal pads, but the more you turned the pages, the more they wanted to rip out. My wife had some old, unused spiral notebooks from school which I stole and like better. The red notebook and the legal pad are full. I'm working in the black notebook now. Every day I note to-dos, reminders, sketches, and little milestones. The pages are dated, critical points are highlighted. I have my own system, so things gets handled. Do the same.

I'll leaf through these, pick out the good stuff, and report back.

IMG_0678 - Copy.JPG
 

Marc B.

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In post #38, I brushed on the difficulty I had with my manufacturer. We ironed out the kinks, but I decided to find someone new because I was done. You can't compromise on quality. The projects were taking too long. It just wasn't worth the headache. I didn't burn my bridge with them because it's always nice to have a backup plan, but I did find somebody better, and now I do most of the finishing stateside.

I can't say this enough: You have to take pride in your work. That means if it's not right, do it over. When it doubt, throw it out. Weed the garden. Whatever idiom you like best, follow it. But you have to constantly refine your system, even if that means cutting ties. I still use the old shop for little things that they shouldn't screw up (they still do...), but it's nothing I can't fix on my own.
 
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Marc B.

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February 2016 Update
I iterated. I made little changes to existing products. Modified old products by hand, redesigned them, and then ordered more of the updated units, so I wouldn’t have to waste time fixing them by hand anymore. Tried a few new things too: new materials, new fasteners. Kept what worked, tossed what didn’t.

Mid-February I traveled to my machinist’s place to put my hands on product. This is BIG TIME important. It’s fun to have a sight-unseen business for a while, but you need to be familiar with what you’re selling. Know it inside and out. Know what it feels like, what it looks like, how big it is, what it fits, what it doesn’t fit. Some of these things can only be done in person. Use your product.

If you’re selling physical goods, keep one of everything on your desk, within arm’s reach. That way if you get a message from a customer, and you’re doing tech support, you can give them a straight answer based on what you have in your hands instead of how it’s supposed to work on paper.

Anyway, while I was at the shop, I created a free website using BigCartel. I’ve used Shopify and Squarespace in the past, which are awesome platforms. BigCartel isn’t as pretty and doesn’t offer as much customization until you start paying for their services, but I don’t know of a better option if you’re on a budget. Now you have no excuse not to have a landing page and store front if you have a small business.

I came back from my trip with a LOT to do. Lots of inspiration and fire too! I went back to the computer and started designing new parts as quickly as I could. I had projects on the back burner that I wanted to finish, and I found out I had competition. I also remembered something important:
“It’s not about who invents it first, it’s about who gets it out first.”

You need to get product out, into the hands of your customers quickly. You need feedback, and you need credibility to earn your audience.

I finished the drawings faster than I expected to, and it was go time, but I had a big problem. I was out of money...
 

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I found a better way to get capital while gauging demand: pre-orders.

I'd been bootstrapping this entire time using savings and profit from each project. It works, but it’s slow, and you can’t get your next product out fast enough if you’re still waiting for other pieces to sell.

I started asking for pre-orders for 50% of the retail cost, which was enough to cover *most* of the production cost. I HIGHLY recommend the preorder model if you know you’ll follow up. It requires a lot of trust from your customer, but if you’re a credible person it shouldn’t be a problem. That’s why your reputation matters. Deposits put customers’ money where their mouths are. I get a lot of people who say “Oh man! I’m ready to buy! Cash in hand! PayPal ready!” until a product is released. Then I get ghosted. No more.

I use PayPal and BigCartel for pre-orders. With BigCartel, customers can just add items to the cart and click “purchase.” The BigCartel site is linked to my PayPal business account, so I can manage their order from there. Added benefit of the FREE landing page: You can update it as often as you want for your customers. I created a "news" column, so they could follow production. They loved it. It kept them in the loop instead of thinking, "Wow, what if this guy took my money and ran with it?"

If you’re using PayPal business, you can create an invoice for your customer. I like this better. Make a template that has your business’s name, logo, email, and contact information. Add products to your catalog, then add them to your customers’ invoices. Add your customers to your PayPal address book. Include details: name, shipping address, phone number, email address.

PayPal invoices are cool because they’re organized in your PayPal summary, and you can modify them if you need to. You can see when they're paid. You can accept partial payments and minimum payments. TONS of flexibility. Best of all, your money and your customer's money is protected by PayPal's guarantee in case one of you lacks integrity. ;)

I made a sample invoice for you. I can't make this smaller unless you don't mind using a magnifying glass.

Sample Invoice.PNG

This solved the money problem! When pre-orders rolled in, I knew exactly how much I had to spend and how many units I needed to produce. One less thing to worry about.
 

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Wow, this brings back memories. I used to be big into the Go-ped scene several years ago.

Cool to see someone on here tailoring to that market.
 
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Marc B.

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March 2016 Update
Early to mid-March was slow since I was anxiously waiting for parts to finish at the shop. In the meantime, I was selling leftover stock, and I started considering social media marketing (blog posts, Instagram, and Facebook). That was a mistake. I spent more time thinking about it and less time doing it. Those three methods of advertising are FREE. Your popularity can grow exponentially with more exposure, and that’s highly dependent on time. The sooner you start, the better.

I see in my notes that I started freaking out about money again. I had a wedding coming up, and I was covering half the cost. Tax season was closing, and I knew I’d have to pay. To make matters worse, I made a design mistake that cost me a lot in repairs. Entirely my fault. I rushed the project and neglected a small, but important measurement.

Take your time when you’re dealing with precision parts, but don’t drag your feet. Hundreds or thousandths of an inch can make the difference between a working product and a paper weight. I feel like I’ve said that before, but it’s worth repeating. Fortunately, I was able to fix the mistake, but it cost money and time.

I spent the remainder of March planning a wedding, purchasing hardware and getting organized. Around that time, I got in the habit of backing up my files religiously. If you do anything on the computer, remember this rule:

“Two is one, and one is none.”

Explained: if you have two copies of a file (a primary and a backup), and one gets deleted/corrupted/lost in cyberspace, you still have one left.

If you have one file, and it gets deleted/corrupted/lost in cyberspace, you have nothing. MJ said this in his book. I’m reiterating.

April 2016 Update
I traveled to see my family for a couple weeks. Reflecting on March, I reasoned “If things feel slow, you’re not working hard enough,” and I didn’t want an excuse not to get work done in my down time.

I was away from my home base PC, but I brought all of my files on two flash drives (a primary and a backup), and worked on a borrowed laptop. I also left a computer at my parents’ place for that reason, in case I can’t find a laptop to borrow. If your home base computer has special software on it, you can use programs like TeamViewer (which is free) to control it remotely.

While away, I added pictures and descriptions to my BC site, did some side work, paid my taxes, and paid my hardware suppliers.

Funny note on the bottom of my legal pad: “Why are you waiting to get this done?” Self-actualization memos keep me in check.

My parts arrived shortly after I came home from vacation. Unfortunately, some parts were wrong! This time, not my fault (or so I thought). My machinist goofed. I thought this was unacceptable, since I learned from my previous mistake and specified tolerances in my annotations. What I didn’t know was that you should also specify your acceptance quality limits (AQL) for every order. Your AQL is the limit between acceptability and refusal, when it comes to defective products.

In my case, since most parts are made-to-order (small batch), and they must be precise to work, my AQL is 0% for critical defects. I want them to throw it out and start over if it isn’t right.

  • 0% for critical defects (totally unacceptable: a user might get harmed, or regulations are not respected).
  • 2.5% for major defects (these products would usually not be considered acceptable by the end user).
  • 4.0% for minor defects (there is some departure from specifications, but most users would not mind it).

- QualityInspection.org
 

Marc B.

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I started listening to the Tim Ferris Show podcast in April. For anyone not “in the know,” Tim Ferriss is the popular author and auto-didact who wrote the 4-Hour series of books and now has a podcast where he interviews famous champions.

What I learned from him, and a few other authors, is to write in your own voice. His podcast, for example, is unapologetically uncensored. Nevertheless, he’s respected among A-list celebrities. Go figure. You have to be yourself for the best congruence and transparency. Just remember to be your best self.

I mentioned that I post regularly on social media and on another forum to educate and help other members. Don’t take yourself too seriously. I did. I was “Mr. Marc B.” I had to sound professional. I had to be a big shot. Nobody cared, but me. I dropped the façade, started being real with people, and my audience grew.

On the production side of things…I requested quotes from a couple machinists for new parts.

2 tips:

  1. Find the price break. Work from high to low.
  2. Order everything at the same time if you’re working with the same material.
If you want 20 parts made, ask for the unit cost for an order of 100 pcs. Use that cost to negotiate. Some machinists or machine shops will work with you. Some won’t. Material is easy to discount. Tooling less so. Labor is even harder to discount.

If your shop orders all of their material at once, they get a bulk discount. Discounts can get passed onto you. They can sometimes use the scraps from your larger parts to build smaller ones, which also saves money and a trip to the supply house. Help them help you. If you’re efficient and like to make things easy, the people working with you will love you for it.
 

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Congratulations on all your progress so far. I know how it feels to have designed something, sent off a file and have parts come back. It's really freakin' cool.
Best feeling in the world. It feels like Christmas every time we get a new part!
 

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May 2016 Update
The following posts and paragraphs might seem disjointed, since I’m leafing through my notes and picking out the good bits and pieces. I’m trying to avoid redundancy as much as possible. Having said that, I think redundancy exists because of my routine. Routines and processes go hand-in-hand.

3D Printing – Metal and Plastic
I started looking for other prototyping options like DLMS and 3D-printing. Here’s the short: it is still waaaay too expensive to do either. I’m talking thousands for a single prototype that’s about 8” x 6” x 2” for metal DLMS and hundreds for a plastic prototype. Sorry, but 3D-printing will have to wait. Love the technology, just can’t afford it yet.

Custom work, 1-offs, and VIP treatment
I did a lot of custom work for customers in June, and I still do it today. If you’re working in a smaller niche, take care of the key players, webmasters, moderators, and sponsors. These guys are high-priority to me. They are the big spenders, the #1 fans, and they talk. If they don’t like what they receive in terms of product and service, they’ll make sure nobody else does business with you. Make sure you give them the best you have to offer, and do the same for the little guys too if you can. Exude quality.

How to screw up the preorder model:
The first pre-order project ended up behind schedule due to poor planning. If you’re quoting lead times for your customers, make sure you do it right. Misquote the timeline for your customers, and you’re going to have a lot of unhappy people bombarding you with emails and phone calls.

For pre-orders to work, you need:
  • Prices for all of your hardware
  • Accurate estimated lead times
  • To know if/when your vendors are available. If it’s a holiday weekend, expect delays and plan around it. If your vendor is out of stock, so are you.
Once you find those answers and give your project the green light, your project is only as fast as your slowest process. Which means, I could have all of my custom hardware machined in 2 weeks, but if it takes 4 weeks to get fasteners and packing materials, then it’s going to be at least 4 weeks before I can box things up for my customers. Add 1 week shipping (max across the United States), and our lead time is at least 5 weeks. Plan accordingly. I had a lot of explaining to do.

June 2016 Update
Got married in the first week of June. No “work” or “progress” for a few weeks, since I was giving my family and spouse my undivided attention. I had a friend answer messages for me.

Takeaways:
  • Remember what matters most.
  • Ask for help when you need it.

When I returned, it was more of the same: grinding at my process of refining my product. Test, record results, can I improve? If yes, hit the drawing board. If no, leave it alone. Don’t fix what isn’t broken. Fortunately, I have some winning products that I don’t have to modify at all. My job is to keep them in stock. Every day you spend waiting on more stock (assuming you’ve sold out) can be a missed sales opportunity (unless you counter this with deposits or pre-orders).

For another, I was about to finish my biggest redesign yet...
 

Marc B.

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I found an important note as we fast-forward to August.

You are bound to have haters when you are on social media, and I have yet to meet somebody who hasn’t dealt with it. What your haters will say is unpredictable. I usually ignore it because I believe that silence is one of the strongest power moves. HOWEVER, you do need to stand up for yourself on occasion. I have one consistent hater who I had to quiet. He publicly called me out for being a fraud, stealing intellectual property, and whatever else his creative mind could come up with. He tried everything to sink my social media battleship.

All of his claims were false, impossible to prove. He had no ground to stand on, but that didn’t stop some people from believing him. Why? Most people don’t take the time to check facts. I needed to prevent them from spreading the damaging rumor.

Fortunately, many of my customers vouched for my credibility (remember what I said about doing right by the key players?) and helped me quickly dissolve the mess, but I still have some important takeaways for you. I’m not a lawyer, and I don’t play one on the internet, so please use this advice at your own risk and consult one when in doubt. Straight from my notebook:

Regarding Libel, Slander, Oral Defamation

Defamation
  1. Requirement of publication
  2. Statement is untrue
  3. Published information is damaging ( to reputation, finances)
  4. Doesn’t consist of privileged speech (in-court statements)
Libel
  1. Fixed-format
  2. Text or pictures (photos out of context)
  3. Offender knows they are providing false information

Slander
  1. Comments undermine the reputation of the accused
[How to address]
  • Be firm, clear, and respectful.
  • The author of the comment has made a mistake.
  • Spell out exactly what actions you would like the defaming detractor to take.
  • Request full deletion of defamatory statement.
  • If the detractor doesn’t reply, take legal action:
    • Sternly worded letter from your attorney
    • A successful suit proves
      • The statement is false
      • The detractor caused financial harm
      • The comments were made with no attempt to research the truth.
    • If the case is good, you may win a court order, forcing the author to remove their libelous statements.
  • Share a succinct post with the public. This is not only a clarification, but a warning to future offenders that you are willing to take legal action (and you really should be).
Ex: “The statements made are 100% false, and we encourage people to provide accurate information. Unfortunately the author is unwilling to remove their defamatory comments, so we regretfully have no choice but to pursue this matter in court.”
  • DO NOT go back and forth with your detractor.
  • Be diligent to monitor reoccurrence of inaccurate statements.
 
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Marc B.

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Getting back on track. I finished redesigning my engine parts thanks to customer feedback, which is SO invaluable. I thought my previous iterations were great. By the numbers, yes, sure. They worked as intended. The engines made good power, and they looked alright. What I changed isn't important to you, but this is:

You are only one person
. You can't and won't always think of everything when designing products and building your business.

I made the little improvements that the customers asked for, and they loved it. On the surface, I have a better product. What this sub-communicates to your customer is: "WOW! He/She listens!" People want to feel significant. They want to be part of your process. This is great for your image and for your brand.

October 2016 Update

Production was in full swing. I flew out to meet with one of my engineers for our annual business trip. Again, this allowed me to put hands on product and fulfill orders for my customers. The following week, we went on a road trip. People in our niche meet up a few times a year to hang out. We schedule the biggest meet-'n'-greet at the end of the year, so we can celebrate our hobby and give thanks to everyone who keeps it going. Myself, and a few others sponsor the event, sell hardware and soft goods, do raffles and giveaways, and just have one hell of a time hanging out with great folk. It's an effective way of spreading the word about your brand and showing people that you care.

I live for this. Community is the backbone of this forum and my market. I love what I'm doing. There are stressful days, sleepless nights, but it's always worth it because the guys I'm working with are awesome. Switch gears if what you're doing isn't for you. Get out.

Every successful millionaire/billionaire I've read about, listened to on podcasts, or watched in an interview has said something about "having fun." I hear it so often, in fact, that I wrote it on my whiteboard, in my notebook, and on sticky notes on my desk. I even have a digital sticky note on my desktop that says, "Are you having fun?" If you're not having fun, you're probably not motivated to take action. No action -> No Progress -> No eventual success.
 

Marc B.

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I really hate for this thread to go stale, so the floor is open for questions. If you see a way for me to add value to this discussion, please chime in.

This progress thread changed from a fun exercise to a small business for me. I'm learning every day.

My current challenge: Limited capital. Income earned from each project is funneled back into the business for growth. I'm ordering more parts and materials from my suppliers than before, which means more money upfront. I have to supplement with money from savings. It makes me nervous, but I know the discomfort is temporary until I find a better way.
 

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Congrats @Marc B. on the progress of your project. I can't believe I've missed this thread. It's awesome!

It took me a couple google searches to find your products & site, but they look great. I really like the commitment to a well made product!

I can't remember who to credit with the quote, but "Sales solves everything". Sounds like you've reached a temporary ceiling in "Scale". If correct, and you've reached the breadth of your current niche, are there more products in the niche that your customers might want from you? Can you add them to your inventory? Are there other niches that use similar parts so you could cross market/sell into that niche? (I'll admit that I'm not well versed in the particular engines you've targeted, so I'm unfamiliar with any other potential applications for them.)

I believe you said earlier on that you were considering social media marketing. Are you doing it? Have you considered marketing in paid channels? Places your customers visit, ads on their forums, etc??

I don't know what your current sales volumes are, but if they are sufficient, vertical integration might provide you more returns. Buying your own CNC machining center would allow you to make many of those parts "in house". You might also enjoy learning the ropes of CNC programming/setup. I'm sure you're familiar with the cost analysis required to validate justification of such a venture. I'm not even going to mention off-shore suppliers, as I see you've already tried that one...
 
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Marc B.

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I can't remember who to credit with the quote, but "Sales solves everything". Sounds like you've reached a temporary ceiling in "Scale". If correct, and you've reached the breadth of your current niche, are there more products in the niche that your customers might want from you? Can you add them to your inventory?
Yes, I have a couple new products planned for this year. One is already made (I have it sitting on my desk, introducing it soon). The other was 3D-printed (prototype) a couple weeks ago, and I'm refining its design.

Are there other niches that use similar parts so you could cross market/sell into that niche? (I'll admit that I'm not well versed in the particular engines you've targeted, so I'm unfamiliar with any other potential applications for them.)
Yes, and I'm working with a friend who is well-connected in those niches. We're mocking up new assemblies. That's probably the biggest opportunity for growth since the "other" niches are larger.

I believe you said earlier on that you considering social media marketing. Are you doing it? Have you considered marketing in paid channels? Places your customers visit, ads on their forums, etc??
I'm still learning the ropes of IG and FB, but I try to post almost every day. Haven't considered paid channels yet.

I'm better known on our forum and FB pages since I've been tinkering with this stuff since 2001. Biggest breakthrough: I'm attending as many of our events as possible as a sponsor, participant, and helping hand. The face-to-face meetings have been wonderful both for me personally and for the business.

I don't know what your current sales volumes are, but if they are sufficient, vertical integration might provide you more returns. Buying your own CNC machining center would allow you to make many of those parts "in house". You might also enjoy learning the ropes of CNC programming/setup. I'm sure you're familiar with the cost analysis required to validate justification of such a venture. I'm not even going to mention off-shore suppliers, as I see you've already tried that one...
CNC machines are BIG money, even for the "hobby" models. I'd love to buy and run my own, just can't afford it yet. The more control, the better.
 

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Awesome job Marc! You're a true example of how powerful taking action can be, even if it's just for the sake of doing.

Do you do any parts for jet skis? My friends are into constantly tuning their jet skis and the market seems really huge for replacement parts. They run the engines so hard that the are constantly replacing things... might be lucrative for you!
 

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Marc B.

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Have you done the cost analysis though? It might be closer than you think. You can get a good used CNC machining center for just a few thou.
A friend just bought a new "personal" mill, which is smaller and less powerful than a commercial CNC unit. About $40k installed, and it doesn't make parts as quickly or precisely as the pro mills. We tried a few pieces, which had to be scrapped. It's better to work with a more capable shop for now.
 

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I'm loving this thread and your progress.

CNC mills are not that expensive to purchase. But everything around it is what makes it so capital intensive. I have made my own CNC mills by converting manual mills. It's a great way to get a good machine and do prototyping and small (initial) production runs. It will consume quite some time but once you have this initial setup running you have the control and low barrier to test new products. You could even hire a student to do the initial production runs once you have set it up.

Congratulations on your progress and keep going :thumbsup:

p.s. Outsourcing work does not necessarily mean less control
 

Marc B.

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Awesome thread, thanks for sharing. On a similar path myself. Any updates?

Thank you for reviving the thread!

The business's growth has been slow and steady. I realized that my niche is small, and my reach is limited, but I've been pouring effort into it regardless. It's become a passion project, and I have no intention of letting it fizzle out. I'm still designing new parts. I've connected with some of the bigger names in the game to collaborate on parts too. Likewise, we plug each other on social media for synergistic growth. i.e. Help me help you.

Since social media is a huge part of this, I'd like to share my approach.
I'm steadily populating the IG/FB pages with photos and information to keep people interested. This is a learning experience for me, and my followers are still in the hundreds. Despite that, I've noticed consistency is key here. I get new followers with each post, but if I pause for too long...the whole process slows quickly enough to make anyone uncomfortable haha I could use some help here. I think there's a gold thread/AMA about Instagram that I need to read again. Any help/guidance is always welcome.

How do I keep things fresh when I'm running low on content?
I stay connected with all of my customers. I ask them if I can use their photos and give them a shout on my pages. Something along the lines of, "Hey! I love what you've done with _____. Amazing job, and thank you so much for the support! Mind if I share it on IG and give you a shout?" I always get a "Yes!" It makes them feel significant and helps our community grow. I feel like the business has become more personal, and I really like it. That quality makes it so much easier to feel invested in what I'm doing.

On the manufacturing side of things:
I outsourced work to a few shops and had to fire one recently. I have no idea what happened. We've been working well together for years when, all of the sudden, they started getting short. It was harder to reach the guy, and the quality of work was inconsistent. Awful, more often than not. I had to reject parts, or lose my a$$ trying to repair them. It wasn't worth the headache, and I think both of us are better off with the split. I thanked my friend for years of patience and generosity and quietly let things fade... On the bright side, my other friends have absorbed the work which strengthens our business and personal relationships. They've been accommodating, which is a blessing and exactly what I need right now.

Speaking of "what I need right now," I've hit a point where I have many projects on hold AGAIN because my catalog is growing, and I can't afford to produce them all at once. The preorder method of raising capital is helping, but I'm still paying a huge chunk out of pocket. As a result, I can only do them one at a time, which takes too long. Customers are getting antsy, and I'd like to help them before they run out of patience and lose interest.

I finished UNSCRIPTED a few weeks ago. The first couple sentences on page 331, P4 read "When cash is tight, propagating a company is impossible. More sales, traffic, and users demand more resources." I felt like @MJ DeMarco was speaking directly to me with that line. I'm starting a new engineering job next week to build my savings and raise capital for the business. Honestly, I'm worried that it'll take time away from the entrepreneurial venture, but that just means that I need to make the time to MAKE IT HAPPEN.
 

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Hi @Marc B.

Thanks for sharing your experience. You have shared a lot of valuable insights in this thread. I still can't believe why this thread isn't marked GOLD or at least NOTABLE. Maybe very few guys in this forum are interested in mechanical engineering. Kindly share your experience further. Anyway, I'm feeling grateful that I found this thread.

@MJ DeMarco @Vigilante
 
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