Can You Help Me Get Started?

[GGriffinGG]

Hey guys, hopefully you can help me out. Mind you, I am a complete newbie at this stuff so please be patient with my ignorance.

After reading The Millionaire Fastlane , I came up with an idea that I believe to be a fastlane business. It's almost exactly the same as MJ's canker sore idea (page 253 in Millionaire Fastlane ).

However, my condition is not canker sores, but I don't want to reveal it just because it could create competition (as it stands, I have only seen one product on the market with the same idea as me). Just like MJ, I had recurring incidences of this condition and looked on the computer for a solution. I found one, although I have only started taking vitamin X and spice Y yesterday, so I can't really attest to its effectiveness.

I assume it will work because the author of the website where I found this info explained everything in clear, scientific terms that made sense. There were also many testimonials put up on the site that were very positive. In addition, he wasn't trying to sell anything (in fact, he didn't even have any ads on his site).

So my questions are:

1. How can I get my own "pill" manufactured? If I could combine Vitamin X with Spice Y into one convenient pill, I think that would truly make my product unique. Once I had an actual product to call my own, I would then just need to create a website devoted to selling this product.

2. How much start-up money would I need to get something like this to happen? I only have around 3,000 dollars to spend right now and I don't know if that is enough.

3. Since I would be selling something that would be ingested, are there any rules or regulations that need to be followed? Would I need to get the pill "tested" professionally even if it is only a combination of two fairly common vitamins/spices?

Thanks in advanced.

 

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[s_sherrell]

There are too many factors to be addressed, but I can give you some starting points.
For the website you found, you need to investigate its traffic, demographics, keywords people are finding it for. You can get the first 2 from quantcast.com and the latter from Google keyword tool (just put in the url to see the optimized keyowrds it returns).
If those figures look good, then you are going to want to make a test ad for a dummy product to gauge commercial interest. The last thing you want to do is spend a bunch of time and money working with a supplement manufacturer and have to buy a pallet full of pills that won't sell.
Good luck.

 

[DeletedUser2]

PILLS!

there are 1400 contract manufactures in the US that will make you any pill you want, or delivery system, including, suckers, gummy bears, drinks, juices, chewables ect....

most of those guys are ISO 9001 certified so thats easy (high quality)
most of them will have a staff that will do a formulation for you if you ask nice
some of them will reverse engineer a sample you send them for 1500 bucks. (copy it)

Several of them will have a list of other related pills or recipes that would make good upsells to your market

dozens of them have a marketing dept that will help you determine who, and what are your target markets
most of them will have a Lable design shop Internally, and will do it for you for around 100 bucks or less.

lots of them have attys that they could recommend to you so your in compliance with all the laws (you don't want to skimp on that one...)

there are at least 2 groups on Linked in that represent over 8000 members in the dietary supplement market.

there are 2 large conventions per year on the subject with a HORDE of every needed component to your biz, FLOCKING to these places.



you would fall under the regulations of "dietary supplement" go read about that, its interesting as hell, and its stacked in our favor (our, as in us developers of pills)

2 hrs on market research could probably tell you the size of the market.

100 bucks spent on face book and 100 on google could test the viability of your offer before you even try it.

or you could do what I do.
call the guy who has the market and product already, and offer to buy his site. you might be surprised how much/little he makes. and then determine if there is enough value to enter the market.

now for the bad news.
3K isnt going to cut it. it might take 5K.

 

[GGriffinGG]

Thanks guys! You both have definitely given me stuff to think about. I have a few more questions now, if that's okay.

s_sherrell:
You say I need to "make a test ad for a dummy market to gauge commercial interest." Exactly how do I do this? Sorry if this seems like common knowledge to you, but I don't have any experience in this sort of thing.

zen*******:
Again, please excuse my lack of knowledge because I am confused when you say, "100 bucks spent on face book and 100 on google could test the viability of your offer before you even try it." What is the 100 bucks spent on? Advertising or something?

 

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