The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success
  • SPONSORED: GiganticWebsites.com: We Build Sites with THOUSANDS of Unique and Genuinely Useful Articles

    30% to 50% Fastlane-exclusive discounts on WordPress-powered websites with everything included: WordPress setup, design, keyword research, article creation and article publishing. Click HERE to claim.

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 90,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Advice, How do I go about this?

0VO

Contributor
Read Fastlane!
Read Unscripted!
User Power
Value/Post Ratio
107%
Jun 8, 2016
46
49
Ontario
I often think of different ideas, will write them down and think about them. I'm good at looking at others ideas, and thinking hey, you should do "x" and it would help with "y", in other words advice towards others ideas. But I often struggle with brining my own to life.

I recently came up with an interesting idea, and some google searching/amazon-ebay-searches, and I can not find this product anywhere. Well, it is an innovation to a product which, without this idea would not be useable in this fashion. It solves a major issue most Commercial Truck drivers face, that the original product can not be used for. (I know someone who drives a truck 6 days a week, and they were talking about this being a major issue, that they just have to "live with".) There is another alternative that solves the same issue, to which this product idea of mine does, but due to legality, is Not allowed all the time/everywhere. It is a fairly simple product.

So do I source the items and create this product, then put it up for sale? But does this not risk others seeing this idea, possibly people with larger pockets, who could easily take the idea? Do I patent it first? But is this worth the money on an item I have not yet proven? I'm not sure what the best way to go about this is.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

inputchip

Gold Contributor
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
409%
Mar 26, 2017
312
1,277
www.tmkings.com
I would say it depends on how low the barrier to entry is for the product. If it is simple like you say, eventually it is going to get ripped off by someone overseas. You need to be first to market and build strong brand reputation. Also, there are ways you can go about validating your idea to see if the market needs it. For starters, I would simply reach out other truck drivers and ask them if this is a common problem they have and if they are will to pay for it. You can ask your friend for references, I'm sure he knows a few other drivers.
 

Supa

Came for the $. Stayed for the Ice Cream.
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
289%
May 27, 2015
968
2,799
32
Germany
It is easier to just give advice to others, because you are not the one who needs to do all the work of implementing your advice.

So, what would you suggest a friend, if he had the same problem you're currently facing? The thing is, you can act like you are giving that advice to a friend, but this time you are the one who also needs to do the work.

Can't give advice on your questions, since I'm not experienced in those topics.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

AllenCrawley

Legendary Contributor
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
420%
Oct 13, 2011
4,112
17,270
52
Scottsdale, AZ
I often think of different ideas, will write them down and think about them. I'm good at looking at others ideas, and thinking hey, you should do "x" and it would help with "y", in other words advice towards others ideas. But I often struggle with brining my own to life.

I recently came up with an interesting idea, and some google searching/amazon-ebay-searches, and I can not find this product anywhere. Well, it is an innovation to a product which, without this idea would not be useable in this fashion. It solves a major issue most Commercial Truck drivers face, that the original product can not be used for. (I know someone who drives a truck 6 days a week, and they were talking about this being a major issue, that they just have to "live with".) There is another alternative that solves the same issue, to which this product idea of mine does, but due to legality, is Not allowed all the time/everywhere. It is a fairly simple product.

So do I source the items and create this product, then put it up for sale? But does this not risk others seeing this idea, possibly people with larger pockets, who could easily take the idea? Do I patent it first? But is this worth the money on an item I have not yet proven? I'm not sure what the best way to go about this is.
Create the product/prototype. Give it to your friend to test out. If it's good, ask your friend for referrals of a few other truck drivers that may like to put it to test. If your friend says it needs some other improvements do them. Then get them into the hands of other truck drivers. Get their feedback and implement suggested improvements. After you've done all that if it's apparent you have a winning product you can think about a patent or licensing it out to the big player in the industry.
 

AllenCrawley

Legendary Contributor
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
420%
Oct 13, 2011
4,112
17,270
52
Scottsdale, AZ
Create the product/prototype. Give it to your friend to test out. If it's good, ask your friend for referrals of a few other truck drivers that may like to put it to test. If your friend says it needs some other improvements do them. Then get them into the hands of other truck drivers. Get their feedback and implement suggested improvements. After you've done all that if it's apparent you have a winning product you can think about a patent or licensing it out to the big player in the industry.
@0VO Almost a month. How's it going?
 

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
446%
Jul 23, 2007
38,203
170,457
Utah
Create the product/prototype. Give it to your friend to test out. If it's good, ask your friend for referrals of a few other truck drivers that may like to put it to test. If your friend says it needs some other improvements do them. Then get them into the hands of other truck drivers. Get their feedback and implement suggested improvements. After you've done all that if it's apparent you have a winning product you can think about a patent or licensing it out to the big player in the industry.

+1000

Updates?
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

0VO

Contributor
Read Fastlane!
Read Unscripted!
User Power
Value/Post Ratio
107%
Jun 8, 2016
46
49
Ontario
I've been a little mia., been babysitting the tasmanian devil (a crazy, naughty, super-hyper-active puppy) and been dealing with a rather serious injury, but who cares about my excuses. I did realize something rather important, more important than the idea in this thread...

...That is, ideas are worthless and without Execution it doesn't matter what you have though about. But also that not every idea may be a good idea (even if *I* think it is) - so I continue to think and brainstorm and always write down my ideas in a note-book. I feel it's a great way to exercise your brain.
^I guess it in part goes back to TMF book, in that "please see my idea but first sign this NDA agreement"......

Now that does not mean that I gave up on it, or some of the other ideas in my note book. I did fall of my horse, and I have just got back on. Back on the grind and more focused than I was before. (I might need a new introduction post, visions have changed and I need to document and hold myself more accountable!)

Ps. Thank you all for the great advice! :)
 

AllenCrawley

Legendary Contributor
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
420%
Oct 13, 2011
4,112
17,270
52
Scottsdale, AZ
I've been a little mia., been babysitting the tasmanian devil (a crazy, naughty, super-hyper-active puppy) and been dealing with a rather serious injury, but who cares about my excuses. I did realize something rather important, more important than the idea in this thread...

...That is, ideas are worthless and without Execution it doesn't matter what you have though about. But also that not every idea may be a good idea (even if *I* think it is) - so I continue to think and brainstorm and always write down my ideas in a note-book. I feel it's a great way to exercise your brain.
^I guess it in part goes back to TMF book, in that "please see my idea but first sign this NDA agreement"......

Now that does not mean that I gave up on it, or some of the other ideas in my note book. I did fall of my horse, and I have just got back on. Back on the grind and more focused than I was before. (I might need a new introduction post, visions have changed and I need to document and hold myself more accountable!)

Ps. Thank you all for the great advice! :)
I gave you a sure-fire way (nearly 3 months ago) to validate your idea rather quickly with your target market. And... you've done nothing?

It solves a major issue most Commercial Truck drivers face, that the original product can not be used for. (I know someone who drives a truck 6 days a week, and they were talking about this being a major issue, that they just have to "live with".)
If this is indeed true you've allowed excuses and wantrepreneurism to keep you in mediocrity. Of course, I don't know what the product idea is but I'd imagine you could have made a prototype and received valued feedback with 2 weeks.
 

0VO

Contributor
Read Fastlane!
Read Unscripted!
User Power
Value/Post Ratio
107%
Jun 8, 2016
46
49
Ontario
You're right, I did not take action. In part because the person complaining about the problem was not that interested in the idea, maybe it's that they are sidewalk minded and rather old-school. The other half is that, when the original idea came to me it was from a money minded point of view. Now really thinking about it, it's not something I feel strongly about, and there are other causes (for which I do not exactly have an idea for right now) which I actually care about. [Are these just more excuses?... I feel any reason as to why I did not do it is just an excuse. So why explain the why not? Would you say that's silly?]

...Is this just slow-lane thinking? Should I have said what the hell, I'm going to just do it even if I don't care about it that much and if it fails so be it? I have a handful more of good ideas, would you (any fastlaner here) suggest I try out each one even if I don't think it is the best thing ever or if it does not mean much to me? Or do I keep exploring my options until I find something I feel strongly about, that serves a need or helps others?
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top