PROGRESS THREAD: Lamboman350K (New Product to Market)

[PaulRobert]

Finally got around with my friend to create a new video! This is the first of either 2 or 3!

The new video shows the Dollar Iron in action!

Enjoy and all feedback is welcome!

[video=youtube;tnFbxssfY3A]http://www.youtube.com/watch?v=tnFbxssfY3A[/video]

 

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[PaulRobert]

Finally launched the online store! Yesterday, I received an random comment on Youtube asking when my product will be available. Things are beginning to look very bright!

Purchase!

 

[Z5 FILMS]

Just FYI, your website is charging sales tax from out of state customers. I also noticed that you're charging more for shipping than you are for the actual product. This would be discouraging. Charging $2.50 to ship an item that barely weighs much more than a business card is pretty stiff in my opinion. If you want you want to charge that much for shipping I would at least "hide" that fact. Charge a bit more for the product then have "FREE SHIPPING". Make them think they are at least getting something for free. I would experiment with different costs and see what people will pay.

I would also redo your website totally. It looks like it was thrown up in an hour by a 7th grader. The animated gif on the front pages screams amateur. Just my opinion. I would hesitate to buy anything off it. It creates no senses of urgency and does not stimulate my senses.

I'm not trying to bash, I'm just trying to give my personal opinion. I like your little product and would like to see it make some sales.

 

[PaulRobert]

Thank you very much Z5 Films! And no worries, it's called constructive criticism. The idea of free shipping actually to mind the same day I received the email notification for this thread. I already made some changes and now offer free shipping.

I do agree, the website needs some update to look a little better. I am getting mixed reactions about the site but mostly are positive.

In other news, the Dollar Iron was published in the October issue of Inventors Digest, so if anyone is a subscriber, check it out!!

A little difficult to read but it says--

"Money Laundering"

With the popularity of self check-out lanes and vending machines comes a modern quandary- what to do with wrinkled cash?

Paul Prusinowski's Dollar Iron straightens out U.S. paper currency with a simple swipe. When you're done, slip the card-size device back in your wallet.

The 18 year-old inventor and entrepreneur is selling the Dollar Iron online.

Visit www.thedollariron.com

 

[PaulRobert]

Want to give a quick update. I've been still pursuing the Dollar Iron but as always, things never go according to plan. You are veered off the road and have to work your back through trial and error. Now that I am on summer break, I am putting my main focus on the promotional market such as banks and other businesses. People (B2C) love the product but not everyone is willing to spend money on the product. The greater value that the Dollar Iron creates is for businesses. For the promotional sales, each promotional Dollar Iron now comes with a keyring so the company's logo has the most exposure. I am already beginning my cold calling and am sending out a sample to large company in the arcade/gaming industry. The market has driven me to this direction. I am not as active on the forum as I used to but now I hope it will change.

Hope everyone is progressing greatly with their ventures!

 

[bernieshawn]

Want to give a quick update. I've been still pursuing the Dollar Iron but as always, things never go according to plan. You are veered off the road and have to work your back through trial and error. Now that I am on summer break, I am putting my main focus on the promotional market such as banks and other businesses. People (B2C) love the product but not everyone is willing to spend money on the product. The greater value that the Dollar Iron creates is for businesses. For the promotional sales, each promotional Dollar Iron now comes with a keyring so the company's logo has the most exposure. I am already beginning my cold calling and am sending out a sample to large company in the arcade/gaming industry. The market has driven me to this direction. I am not as active on the forum as I used to but now I hope it will change.

Hope everyone is progressing greatly with their ventures!

Crazy idea (you might have already thought of this or heard it from someone else), but what if you made it more robust and sold it to companies that make vending machines or cash to be a part of their machines?

 

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[Pete799p]

Want to give a quick update. I've been still pursuing the Dollar Iron but as always, things never go according to plan. You are veered off the road and have to work your back through trial and error. Now that I am on summer break, I am putting my main focus on the promotional market such as banks and other businesses. People (B2C) love the product but not everyone is willing to spend money on the product. The greater value that the Dollar Iron creates is for businesses. For the promotional sales, each promotional Dollar Iron now comes with a keyring so the company's logo has the most exposure. I am already beginning my cold calling and am sending out a sample to large company in the arcade/gaming industry. The market has driven me to this direction. I am not as active on the forum as I used to but now I hope it will change.

I would say start with strip clubs, restaurants, and bars. I would also talk to vending machine companies about attaching them too their machines as everybody hates when there wrinkly dollar is denied. Look into offering a customizable logo for businesses that want to give them out as gifts or advertising etc.

Happy hunting I think this idea is great.

 

[Yussef]

I started this thread on November 9, 2009. Today is July 9, 2011. Almost 2 years later I am pleased to announce the product that I have invented.




I am the inventor of the world's one and only dollar straightener.

Remember the last time you had your dollar rejected at vending or check out machine? It happened to me countless times and one day it finally clicked and I spotted the opportunity. This is a great milestone in the process but I know I still have a lot to do in front of me. This forum and MJ's book has impacted my life greatly and I have not been able to spend as much time on here as I would like.
I am open to any comments, questions, and suggestions. I want to thank everyone who supported me and has followed me on this journey.

Ladies and Gentlemen... I present to you The Dollar Iron.

www.thedollariron.com

I swear to God I guessed this one before you announced it. It was the part about approaching the stranger. I figured if it was a problem most people have and you spotted someone having a problem that easy in a public place and assisted him that quickly it had to be a simple problem with a quick and simple solution. And I hit it on the head.

 

[Yussef]

Want to give a quick update. I've been still pursuing the Dollar Iron but as always, things never go according to plan. You are veered off the road and have to work your back through trial and error. Now that I am on summer break, I am putting my main focus on the promotional market such as banks and other businesses. People (B2C) love the product but not everyone is willing to spend money on the product. The greater value that the Dollar Iron creates is for businesses. For the promotional sales, each promotional Dollar Iron now comes with a keyring so the company's logo has the most exposure. I am already beginning my cold calling and am sending out a sample to large company in the arcade/gaming industry. The market has driven me to this direction. I am not as active on the forum as I used to but now I hope it will change.

Hope everyone is progressing greatly with their ventures!

Figure out a way to make your iron an actual attachment for the very machines that have the problems accepting the dollars and you have a huge market selling directly to the change machine makers and vending machine producers. One slot to accept the money and another one to straighten rejected bills ...Sell them on the idea of how much money they lose when people walk away from their machines frustrated.

Darn it Bernie i just saw your comment. I promise I had posted this before I saw it.

 

[CTamme]

Figure out a way to make your iron an actual attachment for the very machines that have the problems accepting the dollars and you have a huge market selling directly to the change machine makers and vending machine producers. One slot to accept the money and another one to straighten rejected bills ...Sell them on the idea of how much money they lose when people walk away from their machines frustrated.

Darn it Bernie i just saw your comment. I promise I had posted this before I saw it.

One step further sell it to vending machine manufacturers. Make it a flip out device next to the dollar bill slot with a label that say dollar iron and a small picture instruction sign or put it directly on the piece when it flips out. License it to vending machine manufacturers since it is patented.

Then get on the government lobby to block coins of greater value then the quarter.

 

[Deanna]

What a cool idea

 

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[PaulRobert]

Wow. I can't believe it's been so long since my last reply. Over the past year I have grown as a person, entrepreneur and inventor. The Dollar Iron was a fun a venture to create but I realized last summer that the market was slowly dying due to vending machines beginning to accept credit cards and eventually becoming cashless. I discovered a different business opportunity in school last year and started working on this new startup instead. I will create a separate thread about the new product. I do not consider the Dollar Iron a failure but probably one of the best learning experiences. I made many mistakes and had many failures but through all those ups and downs, I learned priceless lessons that had made my new venture a tad bit easier.

 

[MJ DeMarco]

I do not consider the Dollar Iron a failure but probably one of the best learning experiences.

Therefore the venture was not a failure. It also is a great example about how needs get solved... your need existed, but technology was a better solution versus something mechanical.

welcome back.

 

[Eskil]

I just discovered this thread. Wow what a fascinating journey with so much great info.. Looking forward to see what you will be doing next.