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EXECUTION First attempts at clawing my way out of the slow lane

Discussion in 'Progress/Execution Threads' started by Kirill Langer, Apr 12, 2018.

  1. Kirill Langer
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    Kirill Langer New Contributor

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    I decided to start my own execution thread. I have been working on making a new product to assist with accessibility to training in a sport that I am heavily involved with (I have been consistently doing this sport for 12 years). I don’t think that this product would violate the “don’t do what you love” outlook. The reason for that is because what I love is doing the sport, not selling this kind of product. Although I have really been psyched to contribute to the community around my sport. My idea basically takes a current already existing device and adds new ideas to it, ultimately making a more accessible, portable version. In addition, you could train for a completely different part of the sport that was is currently difficult to train for. I have made a complete 3d version of my design in Rhinoceros, the 3d modeling software.

    There is a company already out there doing something similar, but their version has terrible reviews on amazon. People seem to hate it; they sacrificed a lot in their design and it came out to be meh. And I don’t think they are marketing it well either, their website is sub-par.

    I have been asking around for advice about the product, thanks @amp0193 and @Walter Hay . I am deciding between which materials to use. Perhaps, I can give the customer the choice of materials, wood, high density foam, or maybe plastic if it takes off. Although, this might end up being too complicated. I am going to begin shaping the prototype myself next week. I became a member at a local makerspace. I took a CNC class and now have full access to their machine!

    I am going to receive a high density foam sample shipment from Rigid Polyurethane Foam Sheets - High Density Hard Foam Blocks | General Plastics by next week hopefully, as well as test out some wood versions. I’ll be able to begin testing foam and wood to see if the surfaces on my invention have the tensile strength to support the kind of activity I have envisioned for the product.

    In addition, I have a few people who have signed on to be a part of the beta testing crew. I wanted to integrate all of their ideas before I got my product up for sale. I am not sure if this is the right way to go about this, or if I should just put it up for sale as soon as possible and let customers tell me what to change about it. Giving a group of people the beta version seems better to me. Ideally, the public version will be better because of the additional opinions I will receive. However, this will take longer. This process is exciting so far.
     
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  2. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    How big the market size for your sport?
     
  3. Kirill Langer
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    Kirill Langer New Contributor

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    25 million people do this sport regularly around the globe, and it is growing rapidly.
     
  4. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I have seen the drawings for this product and although I have never participated in that sport I can see a huge benefit for those wanting easy access to training equipment.

    Testing is important before marketing because some of the materials being tried are not previously used for this kind of application.

    Kirill has obviously thought the design through very carefully and I think he is on a winner provided the materials hold up.

    Congratulations on the progress you have made so far @Kirill Langer

    Walter
     
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  5. rpeck90
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    rpeck90 Bronze Contributor Speedway Pass

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    I met the guy who made Swellaway which was meant to be a really good way to help athletes recover from swelling. HUGE market but obviously since it's a medical thing, it took a lot of time to get the right approval etc...


    View: https://www.youtube.com/watch?v=G2kPUEIwe5k

    I don't think they made much progress with it (literally took like 2 years to gain approval) but I think he sold the business. Might be something to investigate a little more.

    --

    Update, I tried to find some videos of the inventor (Richard Mills) but it looks like they've been taken down. You can see an interview with him (with images) here: Richard pitches for cash after City Region Award
     
  6. Kirill Langer
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    Kirill Langer New Contributor

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    Hi all,

    I have been busy working and thinking on a path out of the financial instability that people normally endure graciously. I have made a good deal of progress creating a prototype of my idea that I discussed before, and I am gaining mastery of 3D modeling and working with CNC machines. I will continue finishing up the prototype. In addition, I have already had some insights about the future of my new product idea.

    For example, it will likely not be possible for me (at least not me alone) to make these on a mass scale with a CNC machine. It would probably take about 5 hours per unit to make this out of CNC alone. I will have to make a mold in the future, and get some company to mass produce them out of plastic. This will be something to face once the initial model is completed. I think this violates the control commandment but I don't have a way around this without building a factory or something.

    I have been feeling the forewarned pull toward other ideas. I know that it is not recommended to pursue more than one idea at once. But I still have been, since I can only work on the first idea during the time when the makerspace I go to is open on M-F. The other one involves Amazon FBA. I have been spending a lot of time learning about how to use Jungle Scout and how to get manufacturers to ship to Amazon for you. I have a product idea in mind already that I am interested in trying to dropship. I am rationalizing this to myself as something that would be beneficial to pursue because it would significantly assist my first idea anyway. If I get an Amazon seller account and have experience, then it will be that much easier for the first idea to be sellable on a mass scale. Amazon would be a good start for the first product as well as the new idea, but I will also probably end up diversifying to other platforms to retain a margin of safety from unforseen bans etc.

    I have heard that it is easier to get started with Shopify if you don't have as much capital, and it would be fine to only manufacture based on demand there. Does anyone have experience with starting selling a new product on Shopify and selling on demand? If so, it could be better for me to begin with the first product on Shopify since it will be a bitch to start making it without real, invested demand.

    Dropshipping just seems a lot easier as well, and so I feel that it might be worth my time to seriously jump in and learn about the ins and outs of what it takes to sell on Amazon. FBA people on this forum generally recommend that new sellers just do it and try to make something happen if they are curious about it. I am still debating about whether or not to commit to my second idea.

    In addition, the time I have before the start of the coding bootcamp I am attending in late May to early Aug is running out. I am still planning on going through with it. I like coding and think it could be extremely useful for my future with entrepreneurship. I am rationalizing doing that as a way to fund my entrepreneurial endeavors and pay off my student loan debt once I get a job. The program I am entering is extremely good at getting people jobs (job placement rates of 90 percentish), and the starting salaries are generally high. I should easily be able to afford to make more investments in my business ideas in the future after I am in a financial position like that. I will lose a lot of time, but I will continue grinding away at escaping corporate slavery during my time away from work.
     
  7. Kirill Langer
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    Kirill Langer New Contributor

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    I pretty much completed the main part of my device out of CNC milling a couple of pieces of MDF. Now I am trying to find out how to connect another part that is the other important feature of my idea, which would make it easier to set up and more portable than my competition. It is an engineering problem that I am not sure how to figure out so I have been reaching out to some people for assistance with it.

    One of my friends from a few years ago said her brother has a shop where he contracts for NASA and Ocean exploration teams or something. She said he could probably figure out the engineering problem for me. In addition he might produce the initial round of these products for me at a fair price. I think we are going to get a quote from him to see what it would cost to produce 10 of my items in his shop. I am psyched about this because it could potentially be hugely discounted from what it would cost to make it in China. However, I am hesitant to involve her in this because I would be giving up some control and future profit. The thing is that she is a production manager, so I think it may be a good move. It's hard to pass up a shortcut like this one. A production manager and her intelligent contracting brother just joined my team after a short conversation? It seems too good to be true. He also has a patent for a new way to remove screws from furniture, and I have been really wanting to make my product in a way that did not involve screwing. So it is exciting stuff.
     
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