The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

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

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

Join over 80,000 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.

Product design

Felixm

New Contributor
Read Fastlane!
User Power
Value/Post Ratio
33%
Dec 1, 2020
9
3
Hello guyz, i just identified a need, and it involves designing a programmable gadget that would serve the market needs, my question is how did you guyz come up with the products, did you license your ideas to a manufacturing company after which they manufactured and designed for you or you chose to make it for yourselves given that you don',t have the expertise in that fie
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Lyinx

Silver Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
128%
Oct 28, 2019
581
742
Lancaster County, PA
Hello guyz, i just identified a need, and it involves designing a programmable gadget that would serve the market needs, my question is how did you guyz come up with the products, did you license your ideas to a manufacturing company after which they manufactured and designed for you or you chose to make it for yourselves given that you don',t have the expertise in that fie
find a local mfg facility and meet the owners (in person, not over emails) ask to see their mfging facility, describe (in general) how your product works.
ask if they would be interested in working together to make it, or if they would suggest someone else.
if they are interested, then show them your sample/idea and ask for improvements and/or suggestions.
if they are still interested, discuss prices/volume/batches/ whatever works best for their work flow - don't forget to discuss leadtimes

NDA : not needed in most cases, but your lawyer would probably tell you do it
Patents: ditto, and often cost a lot of money, and you can't change the idea (you'd have to get a new patent to over the new idea, because it changed slightly, so you rather make the old model with the old patent, and then in 5 years you get surprised when someone makes a new pattern that invalidates your outdated patent)

I HATE patent, sorry/not sorry for the rant...
 

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