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Discussion Regarding "Improving" Products

Bulgano

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Hey all,
Just wanted to start a quick discussion regarding "improving products".
I recall seeing a thread where @biophase discussed kitchen knives and said instead of just changing the handle, improve the blade.

My question is, is this a viable option for new entrepreneurs? I can see this being possible and an excellent way to make "new" products if you already have some money to work with and some solid contacts (With suppliers and such), as you can hire other people to do it for you (assembling the knives and packaging them).

I also wish to question the logic behind it. In the knife example given above, why buy a knife from a supplier and then improve the blade yourself? Does this not just pose the question; Why are you not buying from a supplier that already has a better blade?

Perhaps I have the wrong end of the stick here by being so young, as well as new to this type of stuff.

I guess the overall question I pose is;
When improving a product, is it viable for new entrepreneurs to do? If it is, does this consist of ordering the parts to your door and doing assembly and packaging yourself? Or is it wise to save and invest it a warehouse and employees?
 
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Patrick R

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I also wish to question the logic behind it. In the knife example given above, why buy a knife from a supplier and then improve the blade yourself? Does this not just pose the question; Why are you not buying from a supplier that already has a better blade?

I think you missed what he was trying to say a bit here. Sometimes you can order a product from a supplier, when it arrives make some changes to improve it and then sell it, but that is not the only way. In the example you used above with the knife you could pick a supplier that you like and then request that instead of 1084 steel they use a stainless steel or even Damascus blend. This may increase the cost slightly per blade, but it will increase the quality and allow you to sell it higher. Then you aren't physically improving the item yourself but you have made improvements that your supplier can make.
 

amp0193

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I also wish to question the logic behind it. In the knife example given above, why buy a knife from a supplier and then improve the blade yourself? Does this not just pose the question; Why are you not buying from a supplier that already has a better blade?

Generally, a good supplier can do whatever you want them to do.

When improving a product, is it viable for new entrepreneurs to do?

Yes, but depending on the significance of the changes, and the type of product, it may require a larger minimum order with a larger upfront investment.

If it is, does this consist of ordering the parts to your door and doing assembly and packaging yourself?

Depends on the product. In the majority of cases, I would think that you would just want the factory to ship you the assembled goods.

Or is it wise to save and invest it a warehouse and employees?
Only when the volume of product you're moving justifies it.
 

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