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Going for it! Had my FTE

Discussion in 'Product Creation, Inventing, Importing, Sourcing' started by Mike154, Aug 14, 2018.

  1. Mike154
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    Mike154 New Contributor

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    Good morning everyone! I figured this could be a way for me to help anyone or for anyone to learn from the path I'm going on now. I won't go into details what I invented because I don't want to get free advertising but I've finally taken my winemaking invention to another level, pursuing a patent, and now getting ready to manufacture it. I started this back in 2016 and worked my a$$ off with it and it's completely evolved throughout the years. From what I have now to the very first prototype has been a crazy journey and I just love the fact that I took an idea in my head, drew it on paper, and then actually manifested it so I can hold it. Also can't forget that this makes some awesome wine too! For anyone that thinks "how can I get my idea off of the ground," let me tell you that you can and will find a way! I've spent hours reading previous patents, reading articles on what should be listed in patents, gone to patent attorney's and picked their brains, and drafted and revised and revised and revised again.

    Right now I'm at the provisional patent phase and got the "patent pending" status. Sourced the material I need and linked up with an old friend that is motivated like me to help me manufacture it. (If you go to anyone make sure to cover your a$$ and your idea/invention) My goal is to test it out in the market and if it takes off let the tool pay for the utility patent. The great thing about that approach I feel is I've already networked throughout my winemaking career and have a way into the market and can sell the first batches that I manufacture. The plan is to start small and let it grow from there. I do have a business plan and have an end goal in mind of where I'd like to take this but life happens and I'm going to leave room for changes and unexpected things that may come up.

    If anyone has any advice or tips that would be greatly appreciated! Or if you have any questions on how I got to where I am and if I can help you just let me know! I'm more than happy to encourage others in their pursuit for an unscripted life!

    I've never posted on here before but this is my journey and I'm willing to share it to either inspire someone to stick with their goal or learn from my successes/failures along the way.

    Have a great day!
     
    MB2, Michael1359, Ranman and 4 others like this.
  2. HabilKan
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    HabilKan New Contributor

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    You can license your patent to producers of wine if it solves a problem for them or makes the production cheaper. That way you dont actually have to produce anything yourself and just cash in on license fees. Or you can create subsidiaries in other countries and produce for the near markets.
     
    GoGetter24 likes this.
  3. Mike154
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    Mike154 New Contributor

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    I like where your mind is at and that's the end goal. Before I even think about licensing to the bigger guys (and gals) I'd like to make a presence in the market that actually proves the value I'm adding. The more the market shows off the wines made from my invention the more valuable it is to me as far as licensing and gives me more leverage when negotiating a price.
     
    HabilKan likes this.
  4. Pedro Henrique
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    Pedro Henrique Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Hello, does your invention make wine better ? Or is it to add some different taste to wine ?

    Enviado de meu Moto G (5) usando Tapatalk
     
  5. ChrisV
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    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Read '1 Simple Idea' by Steven Keys

    Patents are overrated, IMO. Just get the provisional patent, it protects you for 1 year (i believe) and work on your project in the meantime. Patents are expensiveeeeeeeeeeeee. Like 10-13K.
     
  6. 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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    Admin Post
    Thanks for sharing your first swing at creating value. Welcome aboard.
     
    Arun Siva likes this.
  7. Michael1359
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    Michael1359 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Welcome, it sounds like you’re well on your way.

    What was your FTE?


    Sent from my iPad using Tapatalk
     

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