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How does one go about putting the ideas into material form with products?

Discussion in 'Product Creation, Inventing, Importing, Sourcing' started by ambrosinibello, Mar 7, 2019.

  1. ambrosinibello
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    ambrosinibello Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I am at a bit off loss.

    For context which will serve better understand my question I am currently going to school full time (Will graduate soon), but I have 0 income.

    I am working with a relative that has products already been produced. He's finishing up samples, but just needs the packaging and he's good to go. He wants me to help him quick the brand off in the US. But it's going very slow. Product is plant based, organic food. Different ingredients and flavors (Can't be too specific). This is in the backburner as it's taking too long, but all I need to put in here is sweat equity. No $ required.

    The main issue is I have an idea as well I want to implement ASAP on a supplement mixing an array of different ingredients for people to feel and look good. Haven't fully determined the market yet, but most likely women.

    Point in case, as every entrepreneur, I am flabbergasted on where to bite. Sometimes I worry I am being way to abstract and it doesnt work that way.

    Few things:
    - No income (Might get a simple 10-14hr week job to pay for shit) so I cant afford $50k investment for bulk quantities of a product there might truly be no demand for
    - I want to get samples. Even just 50-100, take it to do taste/effect tests, offer it to influencers, and do some tests on landing pages. Really want to expand online first, then branch out
    - For something like this, do I NEED to register the LLC and all that first?


    Just not sure what the "right" way is to get started when doing supplements/food products.
     
  2. jpanarra
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    jpanarra Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    KISS.. Keep it simple stupid , this is what i tell myself because i find myself in this position often. My 2 cents
    I understand when you're staring down this huge idea and it feels like its impossible to take the whole thing down and it becomes a flurry of confusion and ideas for problems that don't even exist yet.

    No Income- dont get a part time job.. learn how to hustle and flip things. Negotiation is a skill and it needs to be honed and will help you in the long run.

    Getting samples - do you even have a prototype yet? If you can make a prototype, then make a few like 10-20 in your kitchen and hit up your circle to BUY it from you. If they dont buy it then maybe you have to either revisit the product or move onto another idea.

    As for registering the LLC, dont worry about it too much until you're making over 1k a month, then you can consider to get a LLC to protect your assets outside of the business. (anybody else on this forum can correct me here, this is what I'm doing for myself)
     
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  3. ambrosinibello
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    ambrosinibello Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Preciate that. I have so many people telling me to be realistic and get a "job". I agree with them due to the fact I am lacking in the ability to produce my own income through freelance or flipping. I'd be ok with 1.5-2k month so I can eat while I grind it out.

    I do have the ability to do service work (PPC, FB ads, etc) but that's a fulltime gig in of itself.

    I Don't have a prototype. Not for the nutrition idea. Idk how to make them, it takes all this powder and stuff that I feel would be easier just ordering a very small order.
     
  4. jpanarra
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    jpanarra Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    You might get emotional and upset, I want you to think why does this make you so..

    My interpretation of what you just told me was that you don't believe in yourself and justifying that you are better off getting a job (just like everyone else tells you) and trying to squeeze some pennies out of your time as opposed to learning how to leverage and compound value.

    Quick Question, did you really read millionare fastlane?
     
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  5. MitchM
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    MitchM Act. Then Adapt. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    You need to start off on the right foot - which is identifying the market and then understanding that market's needs.

    Once you do this, you simply create a product specifically targeted towards solving that need.

    So, let's just say that women 50-60 wanted to look and feel 10 years younger. If there were ACTUALLY ingredients that existed right now that could do this (besides makeup) then you would make a killing off of putting them into pill form.

    Once the problem that you are solving is clear, you beat a path to the solution.. in the form of product creation, fulfillment, and marketing.
     
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  6. ambrosinibello
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    ambrosinibello Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I did, about 1 1/2 years ago but it seems to warrant another read.

    My self-belief is a little rocky. half a year ago I left school and threw myself at what seemed like an opportunity but ended up being a "guru" doing a churn and dump and I fell for it. I was sure this was it, and so coming back had a lot of "I told you so's. Still working on getting self-belief back.

    Could you expand on leveraging and compouding value bit?
     

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