Howdy Partners,
I work in an industry where there's a potentially untapped market for a specialty camera.
Essentially a camera must be able to transmit data, and have a reliable source of power in order to function. Most of the times you're able to run wiring to the cameras. Delivering power and receiving and transmitting data.
Unfortunately not only is distance an issue but power generation an issue as well. In addition to that, these cameras will have to be periodically moved from location to location. Meaning portability is an issue.
I know how to fix all of these problems due to my personal knowledge. Essentially, there are three basic "needs", or product pieces, for my idea. Each need is addressed already by an individual product already on the market, sometimes used independently, sometimes used interdependent with the others, but never really used for the specialty application in this untapped market.
There are products on the market already for each of these three basic needs.
I've contacted a camera distributor I had dealings with in the past. They say the have cameras that meet my specific hardware requirements.
At this point I've simply got to create a basic functional prototype to see if I can get the camera to function in this special environment (which the distributor confirmed it should be capable of doing), and then see if the camera can function properly for my customers other unique needs. Among all the other little details involved. This I can achieve with time and a little money (money I can get, time is appreciably more difficult to come by).
Once I have a working prototype I then run into the problem of the command of control. I don't like going through distributors for my products if I don't have to. Once I've proven the concept of design, should I be contacting the individual manufactures (bypassing the middleman distributors), in order to reduce my supply chain? Maybe the manufacturers would be willing to alter one of their designs to meet a more specific industry capable camera?
What's interesting here is that I'm really not creating new products, just bringing multiple different products used in various other markets together, tweaking them, adding some industry specific configurations, and then rebranding them for an untapped market. I can't see myself buying known name brand names equipment, programming them for my customers specific needs, sticking them in a box, and calling it my own. Shouldn't these various products have my logo? My brand?
I got most of the skills, the market is untapped. What do you all think?
I work in an industry where there's a potentially untapped market for a specialty camera.
Essentially a camera must be able to transmit data, and have a reliable source of power in order to function. Most of the times you're able to run wiring to the cameras. Delivering power and receiving and transmitting data.
Unfortunately not only is distance an issue but power generation an issue as well. In addition to that, these cameras will have to be periodically moved from location to location. Meaning portability is an issue.
I know how to fix all of these problems due to my personal knowledge. Essentially, there are three basic "needs", or product pieces, for my idea. Each need is addressed already by an individual product already on the market, sometimes used independently, sometimes used interdependent with the others, but never really used for the specialty application in this untapped market.
There are products on the market already for each of these three basic needs.
I've contacted a camera distributor I had dealings with in the past. They say the have cameras that meet my specific hardware requirements.
At this point I've simply got to create a basic functional prototype to see if I can get the camera to function in this special environment (which the distributor confirmed it should be capable of doing), and then see if the camera can function properly for my customers other unique needs. Among all the other little details involved. This I can achieve with time and a little money (money I can get, time is appreciably more difficult to come by).
Once I have a working prototype I then run into the problem of the command of control. I don't like going through distributors for my products if I don't have to. Once I've proven the concept of design, should I be contacting the individual manufactures (bypassing the middleman distributors), in order to reduce my supply chain? Maybe the manufacturers would be willing to alter one of their designs to meet a more specific industry capable camera?
What's interesting here is that I'm really not creating new products, just bringing multiple different products used in various other markets together, tweaking them, adding some industry specific configurations, and then rebranding them for an untapped market. I can't see myself buying known name brand names equipment, programming them for my customers specific needs, sticking them in a box, and calling it my own. Shouldn't these various products have my logo? My brand?
I got most of the skills, the market is untapped. What do you all think?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Last edited:
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
