The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success
  • SPONSORED: GiganticWebsites.com: We Build Sites with THOUSANDS of Unique and Genuinely Useful Articles

    30% to 50% Fastlane-exclusive discounts on WordPress-powered websites with everything included: WordPress setup, design, keyword research, article creation and article publishing. Click HERE to claim.

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 90,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Good business idea with low control: how would I best use it to make profit if I „sell“ it only to my employer?

Idea threads

Filippos

Contributor
Read Unscripted!
User Power
Value/Post Ratio
135%
Oct 25, 2018
40
54
There is one business idea I can execute with the help of my knowledge on machine learning and coding.

I am working as a mechanical engineer and have noticed that many of our CAD designers are losing a lot of time with repetitive tasks that can be written down in an algorithm.
Hence, there is a high potential to automate repetitive, low-creativity tasks that just take too much time and keep motivation to minimum.

Unfortunately, this is a very bad idea with respect to control, because such an automation code is solely customized in the commercial CAD software a company uses and the specific tasks the company repeats often for their typical projects.

Developing and selling such a code can only have two alternatives:
1) specific code for each company using the SDK of the commercial CAD software (cannot be automated and replicated)
2) selling the machine learning code would mean that I compete against the commercial CAD software companies and their research (not realistic)

Hence, the next best thing would be to sell it to my employer, since I know the specifics we need to customize for our daily business.

Implementing it would mean ca 10 working days from me and 20 working days for a programmer from our department.
It would also mean that I would apply knowledge that is beyond my job description (mechanical engineers are not required to know how to develop and code machine learning).
The profit out of it would be freeing up 1 hour of work for every CAD designer for at least 50% of the work of a week in the department for the rest of our lives. Having 60 CAD designers, that can exponentially grow beyond the break even point within 8 weeks.

How could I best go about to make a profit if I sell it only to my employer?

Asking money for it could create a negative impression, if not presented in a smart manner.
I would do all of this for an extra 1,000 € per month, but not for less.
Now that I’m writing it down, it seems like it’s not worth the effort.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Jobless

Silver Contributor
FASTLANE INSIDER
Speedway Pass
User Power
Value/Post Ratio
141%
Jun 8, 2017
413
584
EU
What is this worth to your employer? How much of a competitive advantage?

I would do all of this for an extra 1,000 € per month, but not for less.
Now that I’m writing it down, it seems like it’s not worth the effort.
1,000 per month is not life-changing, no. Ask for a lot more or figure out a deal that would be mutually beneficial, like you gaining equity or forming a new company under the umbrella of your employer etc.
 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top