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Recent content by JDM

  1. JDM

    Acquiring franchise network

    I don't understand your figures. What is the gross turnover of the business and what is the profit (before or after tax)? You've mentioned $70k/year in pre-tax cash flow. If so, the business is horribly overpriced at $850k. That's nearly 12x earnings.
  2. JDM

    Student Credit Cards

    Get a credit card with a very low limit and pay it off immediately to build credit. Beyond this, don't touch credit cards unless there are exceptional circumstances (buying inventory for a business as a short term play etc).
  3. JDM

    Project... product perfection. My journal:

    HOT! 
    You going public doesn't stop anyone doing your idea. You going public stops anyone (including yourself, subject to grace periods) from patenting your idea. You cannot patent something that is in the public domain. Disclosure = the product being in the public domain. Feel free to PM me your...
  4. JDM

    Project... product perfection. My journal:

    HOT! 
    My understanding (as a Lawyer and someone that has patents pending in Australia and USA), is that once an idea is public it cannot be patented (subject to exceptions such as your own dislcosure within a grace period). You are correct that a patent isn't just an idea and it goes into how the...
  5. JDM

    Project... product perfection. My journal:

    HOT! 
    You've mentioned provisional patents, however said that the product (or a better version) now exists. Unless your product is different, you will not be able to patent the idea. Once an idea has been disclosed to the world, it generally cannot be patented (certain exceptions apply if it was you...
  6. JDM

    How does one narrow down their idea to a specific niche?

    IDEA 
    'We have a general idea of our target demographic and we noted some interesting problems we could solve" I think you're going about it the wrong way. Forget who your target market it, forget A/B testing and all of that stuff at the moment. Focus on the problem and providing a solution and then...
  7. JDM

    From An Idea to IndieGoGo And Beyond - Tech Start Up

    IDEA 
    After a lot of thinking and even more browsing alibaba...I think I finally have the low level (~$25) perk sorted. I've contacted manufacturers for pricing and if this is acceptable, will order a sample to ensure the product works as described. It's directly relevant to my product and may even...
  8. JDM

    From An Idea to IndieGoGo And Beyond - Tech Start Up

    IDEA 
    Thanks MJ and a23k. a23k - You're amazing! Great headlines and points. I'm going to get my referral page amended now. Tim Ferris' article has been a great source of information for the whole project. I've just read it again and it makes me realise I need to be doing more now to enagage my...
  9. JDM

    From An Idea to IndieGoGo And Beyond - Tech Start Up

    IDEA 
    Hmm thanks for the feedback, especially on the lower level perks that can be offered. I like the idea of something that still fits in with the key theme (maybe a keyring?). The list building has been done over the last year or so since the product was announced. The subscriber list is sitting...
  10. JDM

    Suggestion - Rules about meme responses?

    I was really disappointed when I started seeing the increase in memes on this forum. I though this place was above that. If I wanted a bunch of memes I would go to the misc or another forum. I come here because I usually feel like it's filled with likeminded, business savvy people and not...
  11. JDM

    From An Idea to IndieGoGo And Beyond - Tech Start Up

    IDEA 
    The security side of things requires context. Sure, you could eventually hack the lock. Reality is that it would be easier to smash the window next to your door, kick the door in, pick the mechanical lock etc. The electronic communication of the lock will very rarely be the weakest link in your...
  12. JDM

    customer development research

    My first thought would be facebook ads targeting people that like Evernote. This ad would lead to a survey page. It might be hard to get them a carrot to actually complete the survey though.
  13. JDM

    From An Idea to IndieGoGo And Beyond - Tech Start Up

    IDEA 
    I would love some feedback on the better of the two design I've attached. I love the design of the first one, however I don't know if it's too much. What are your thoughts?
  14. JDM

    choosing between 4 ideas

    IDEA 
    Totally agree with what others have said. Dividing your attention between mutliple ideas in the crucial early stages might not be the best way to go. With that said, you might look to get one of the quick, low barrier to entry ideas going while you're doing the engineering for the first idea.
  15. JDM

    From An Idea to IndieGoGo And Beyond - Tech Start Up

    IDEA 
    The 12 months battery life is the best in the industry at this stage and significantly superior to devices with wifi incorporated (no hub). Notifiations will be provided when batteries are low to give you adequate opportunity to replace the batteries before they die. I have tried to keep it...
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