Hey guys. I've done progress threads before, but this time I'm fully committed to executing this idea and see it become a reality. I took a seminar class over the summer that really opened my eyes about the reasons for why I my life wasn't where I wanted it to be. I've had tons of business ideas in the past, but I've never followed through with any of them for one reason or another. However, I learned that to be an entrepreneur, one must be UNREASONABLE:
Unreasonable: Being more committed to the results than the reasons for why they can't happen.
I'm going to be unreasonable with this idea and my goal is to have my company up and running by May 2012. I finally found an idea for an invention that solves a problem that millions of people have. I've set a goal for myself to accomplish something every week so that May 2012 becomes a reality rather than just "mental masturbation." (I forgot who, but someone here said that term and it's become one of my favorite phrases)
So far:
-I've asked a lot of members of the market segment that I'm after about whether they would use my invention of not and if it would solve their needs. I've talked about this idea to friends and people who I've just met and all have said YES. I took that as a very good sign that this idea is worth pursuing.
-I have a friend/artist who is willing to draw my invention for me (since I suck at drawing!).
-I've also made a list of several manufacturers who I will contact next week to negotiate prices on making a prototype.
-I have an NDA, courtesy of a friend in law school who is also an entrepreneur.
Next action items on the list :
-Get price quotes on prototypes from manufacturers. If the price is too high then my goal will be to save up the money to pay up.
-Come up with several marketing/distribution strategies. Just like it says on TMF , when it comes to innovation, the real war is won with distribution. Manufacturing is only half the battle.
On a side note, it's been really hard trying to do all of this on top of going to school full-time, working 20 hours a week, and having big projects due in all of my classes (trying to graduate by this December). But as a very good friend has told me, I need to be selfish with my time. I wake up 5am every morning so I can study and stay ahead of my classes and I'm asleep by 12am at the absolute latest. I have to say no to hangout with friends and other fun things. But that's what it means to be UNREASONABLE.
I'll keep you all posted on my progress and hopefully I can inspire others on this forum to be UNREASONABLE and to TAKE ACTION.
Unreasonable: Being more committed to the results than the reasons for why they can't happen.
I'm going to be unreasonable with this idea and my goal is to have my company up and running by May 2012. I finally found an idea for an invention that solves a problem that millions of people have. I've set a goal for myself to accomplish something every week so that May 2012 becomes a reality rather than just "mental masturbation." (I forgot who, but someone here said that term and it's become one of my favorite phrases)
So far:
-I've asked a lot of members of the market segment that I'm after about whether they would use my invention of not and if it would solve their needs. I've talked about this idea to friends and people who I've just met and all have said YES. I took that as a very good sign that this idea is worth pursuing.
-I have a friend/artist who is willing to draw my invention for me (since I suck at drawing!).
-I've also made a list of several manufacturers who I will contact next week to negotiate prices on making a prototype.
-I have an NDA, courtesy of a friend in law school who is also an entrepreneur.
Next action items on the list :
-Get price quotes on prototypes from manufacturers. If the price is too high then my goal will be to save up the money to pay up.
-Come up with several marketing/distribution strategies. Just like it says on TMF , when it comes to innovation, the real war is won with distribution. Manufacturing is only half the battle.
On a side note, it's been really hard trying to do all of this on top of going to school full-time, working 20 hours a week, and having big projects due in all of my classes (trying to graduate by this December). But as a very good friend has told me, I need to be selfish with my time. I wake up 5am every morning so I can study and stay ahead of my classes and I'm asleep by 12am at the absolute latest. I have to say no to hangout with friends and other fun things. But that's what it means to be UNREASONABLE.
I'll keep you all posted on my progress and hopefully I can inspire others on this forum to be UNREASONABLE and to TAKE ACTION.
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