I'm considering moving forward with one of my 70 ideas for inventions/new services, but there are a few roadblocks I need to clear before I decide to go all in with it.
Its a product in the garden/home product industry, and its moderately complex so design and manufacturing costs won't likely be low. Does anyone have advice on bootstrapping a new invention? Most of the bootstrapping advice I've seen is for services, so I'm not sure of all my options with a product.
I believe the things I need to check before I go through with this are:
-Is it feasible in terms of production?
-Can it be produced at a reasonable price-point?
-Is there market need for this solution?
-Will this product adequately solve the problem?
-How will I finance this?
I recently started a job in marketing, but pay is minimal so I won't be rolling in money any time soon. Assuming I want to go through with the idea, is my only option to get a loan for the design, patenting, and manufacturing/inventory?
Any advice is appreciated. Thanks!
Its a product in the garden/home product industry, and its moderately complex so design and manufacturing costs won't likely be low. Does anyone have advice on bootstrapping a new invention? Most of the bootstrapping advice I've seen is for services, so I'm not sure of all my options with a product.
I believe the things I need to check before I go through with this are:
-Is it feasible in terms of production?
-Can it be produced at a reasonable price-point?
-Is there market need for this solution?
-Will this product adequately solve the problem?
-How will I finance this?
I recently started a job in marketing, but pay is minimal so I won't be rolling in money any time soon. Assuming I want to go through with the idea, is my only option to get a loan for the design, patenting, and manufacturing/inventory?
Any advice is appreciated. Thanks!
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