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Idea threads

Zooman009

Contributor
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Jul 29, 2020
43
29
Utah, USA
So…. About time for that weekly update. Cause I kinda committed to it.

Honestly, not much has happened once again. But I did talk to my college professor who is an entrepreneur himself and discussed the idea, and he actually pointed out a niche that I could target and advertise to. That was pretty neat.

I also read through the entirety of shoe dog which is a fantastic book.

And I bought a domain name which might be part of the circle jerk that MJ talks about, but I was able to get it for $15 for a year and I figured I should hop on it since it was a short and pretty recognizable name that I want to hang on to.

I haven’t built a website nor do I have a logo or any marketing out, but I’m still optimistic.

Next I think I’ll reach out to those Facebook groups to see what I can do.
 
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Zooman009

Contributor
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Jul 29, 2020
43
29
Utah, USA
Weekly Update

Alrighty. A couple relatively big things happened this last week.

First off, I ended up completely reformulating the balm to be all-natural and all organic. It smells great too. So far it's been working really well and I'm not complaining.

I managed to pack it and make a label mockup that I put on the tubes and I've gotten a few samples out to people.

I'm optimistic. This will get me closer to testimonials that I've been wanting to help with marketing.
 

FauxPas

Bronze Contributor
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Aug 12, 2020
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20
Virginia, United States
We’ve had many conversations about how we want more people to have this but that would be very hard to share, and most of the time it would stop there. Until recently when we were talking, she mentioned that 90% of makeup in the USA comes from just a few labs. I had the thought that perhaps there would be something similar in the this product category, so I went looking.

Just the other day I found out that these do in fact exist and that I could have them make the product and bottle it and label it, then just send it to me.

Though I haven’t gotten super far, I found a few companies that specialize in organic products and other things like that, that will help me make the products. So I have been sending emails over there last few days to them to get quotes.
See that kind of highlights one of the biggest misconceptions budding entrepreneurs have about entrepreneurship, is that they think that they have to do absolutely EVERYTHING in house. Which is, quite far from the truth. There are very few companies in the world that can be anywhere close to remotely being able to actually do such a thing, not even some of the biggest companies like Apple (Where its Founder was known for having a big EGO with wanting to do as much in house as possible), does everything in house. Why? well because it's often way more efficient and cost effective for a company to outsource a particular business function to another business that is a specialist in that said business function. The degree to which things are done in house versus what's outsourced varies from company to company, but no company in the world has the ability do it all in house (Even if it looks like they do most of everything in house, they still have some minor things outsourced.) Even stuff as insignificant as office supplies are a clear good example of a necessary business function being outsourced (B/c it would just make no sense for a company to spend all of the time, resources, and money to manufacture them themselves when they can just pay a manufacture to do it for them).
 

Zooman009

Contributor
Read Fastlane!
Read Unscripted!
Jul 29, 2020
43
29
Utah, USA
See that kind of highlights one of the biggest misconceptions budding entrepreneurs have about entrepreneurship, is that they think that they have to do absolutely EVERYTHING in house. Which is, quite far from the truth. There are very few companies in the world that can be anywhere close to remotely being able to actually do such a thing, not even some of the biggest companies like Apple (Where its Founder was known for having a big EGO with wanting to do as much in house as possible), does everything in house. Why? well because it's often way more efficient and cost effective for a company to outsource a particular business function to another business that is a specialist in that said business function. The degree to which things are done in house versus what's outsourced varies from company to company, but no company in the world has the ability do it all in house (Even if it looks like they do most of everything in house, they still have some minor things outsourced.) Even stuff as insignificant as office supplies are a clear good example of a necessary business function being outsourced (B/c it would just make no sense for a company to spend all of the time, resources, and money to manufacture them themselves when they can just pay a manufacture to do it for them).
Yeah! It's definitely been interesting as I realized I could avoid a lot of expenses up front because I don't need to build out my our facilities in order to get a good product out.
 
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