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A spectacular failure

Discussion in 'Ideas, Needs, Concept Feedback' started by ManlyMansNegator, Dec 22, 2018.

  1. ManlyMansNegator
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    ManlyMansNegator Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Hey Guys/ gals I have been working on my people counter for the last month and a half only to be hit with a lot of problems.The number one problem was that the device I made ( a people counter ) was not profitable.This was mainly due to my lack of research as well as lack of investing.I also tried to build it case by case but even the cheapest manufacturers would charge at least 10-20k for the mould.My device wouldn’t be profitable as it would sell 10 per month or have to be redone in design(note this can be done).

    The main points I have found out which had stuffed me over was stubbornness.I always believed I was right even when an industry professional already told me why X wouldn’t work without Y.The result was quiet a lot of wasted dollars and added skill points.

    Another point is that I jumped the pivotal point in the CENTS system.Mainly the N part , I didn’t test out the need portion and by the time I escaped the desert I was desperate to validate myself through my hard work.

    However the silver lining is that I know a lot about people counters.I have understood my faults and how I can improve on them.

    After the failure , coincidentally, an acquaintance was quitting IBM and I must have had an impact on him.He offered to join me with his friend.Both had extraordinary experience.I had agreed to keep half the buisness to myself while granting them the other half.We are now beginning to set up a new adventure.The plan now is to use already built people counters and begin installing them into small buisnesses.

    I feel as if this has a low Entry point but we are eventually going to outsource it.The plan is to rack up profit from this new adventure and get some experience with sales, marketing and team compatibility etc.

    I know partnerships are frowned at on her.Infact I was in an partnership before but I partnered with people who knew less than me.I am now partnering with people who are above me.A principle I follow now is to team only with those better than you.


    I will begin a new execution thread.
     
    Jello and RazorCut like this.
  2. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Well all is not lost as you acquired a lot of hard won knowledge. Just curious, and I am sure you have a good reason, but if you were going to be be selling 10 per month couldn't you have 3D printed rather than run the expense of a mould?

    Hope your spin off enterprise goes well for you in 2019.
     
    ManlyMansNegator likes this.
  3. ManlyMansNegator
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    ManlyMansNegator Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I had a 3D prototype model, the main problem is the quality of the object when 3D printed.It was quiet a shock to me when I found out plastic doesn’t just magically all look awesome

    I have also tried thinking silicone mounds which are low quality and can get me 10 -12 per mould costing 2-3 k.

    I was planning to go into precasing systems since the object was of a common size and look.However the system itself was not profitable due to other factors such as future engineer costs, design faults(I designed it myself), regulation errors , starting from scratch when there are advanced tech with higher accuracy , really low accuracy and the worst being lack of funds.

    I won’t be defeatist , these all can be fixed, but will cost me a lot of my time or money.It was like building a cordless phone from scratch and trying to sell it all while 30 years behind.

    As I said before all my hurdles were told to me by engineers , potential customers and even my close DIY friend.My stubbornness got in the way of the glaringly obvious problems.


    So I will use my new found knowledge in the implementation of installing current advanced sensors in small businesses.
     
    Jello and RazorCut like this.

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