The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  • Sell-Me Saturday is Now Live!

    Have something to sell? Like to post a video from your YouTube channel? Want to promote your design service? Recommend a company? SELL-ME SATURDAY is your opportunity to self-promote whatever you'd like within the realm of entrepreneurship on one central thread... and at no cost. Go There
    Note: Indiscriminate SEO backlinking to questionable material is not allowed.
  • Join 50,000+ entrepreneurs who are earning their freedom and living their dream.

    "Fastlane" is an entrepreneur discussion forum based on The C.E.N.T.S Framework outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED®). From multimillionaires to digital nomads to side hustlers who are grinding a job, the Fastlane Forum features real entrepreneurs creating real businesses with one goal in mind: Freedom— both financial and temporal.

    Download (Unscripted) Download (Millionaire Fastlane) Register
    Registering for the forum removes this block.

EXECUTION The journey of bringing our first (innovative) product to market

UrbanLegend

Contributor
I've Read UNSCRIPTED
Speedway Pass
Jan 22, 2017
61
80
128
27
Munich, Germany
Hi everyone,

it's been a while since I've been active on this forum. As many before me, I tried the whole "selling on Amazon" thing.
Well it didn't quite work out and I didn't want to invest more time and money into it. As we all know it violates many of the CENTS.
If anyone is interested in what I did in that business you can read that here.

After my first failure the everyday life got the best of me. I was still reading books and learning new things but I wasn't actively pursuing anything. I should tell you that when I first started this journey and started reading books like "The millionaire fastlane", I introduced my dad to all of this.
It also changed his whole mindest and outlook on life. My dad had always had many business or product ideas. But he never really acted on any of them. It wasn't until a couple of months ago that he came up with a new idea. He talked to several family members about it including me. And everyone was very excited about it from the get go (my grandfather even built the very first prototype :D). At that point I already told him that this could be a big thing and that he should pursue this. Some more time passed and my dad refined the idea of his product more and more. At some point my dad asked me if we should do pursue this together. I immediately agreed. I should add that the relationship I have with my parents is very good. I know a lot of people will say you shouldn't do buisness with family. But we complement each other with our different skill sets. He is responsible for the product development itself and I will be the one in charge of selling it.

As of now I don't want to get into specifics as to what the product actually is. It potentially solves a big problem of our current society. My dad was able to build first prototypes on his own with materials from the hardware store. But now we need a prototype made of the actual material. We have a manufacturer not far from where we live. And a couple of weeks ago we had an appointment with them to talk through the process of creating the first prototype to mass production. As I am wiriting this we already ordered the first prototype to do more testing. The plan is to bootstrap the whole business and not use any outside capital.

Right now I am working on how we can eventually sell the product. My plan was to create a small online shop (maybe shopify). I thought of creating a landing page with a video that explains the problem and how our product can solve it. The landing page will link to the shop. To drive traffic to our landing page I thought of using facebook ads. This is still very rudimental and maybe anyone has some suggestions as to how you would go about it. Keep in mind the product doesn't exist in this form yet and is something completely new.

The plan is to keep this thread up to date with any future progress that we make. I hope I can get some feedback along the way and maybe this thread might be valuble to someone someday.

Hope to be posting an update soon!

Marco
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Monkeycom

Bronze Contributor
Speedway Pass
Aug 20, 2019
183
152
80
UK
Facebook ads isn't a marketing plan.
You first need to sort:

- Who are my customers ?
- How can I reach them ?
- How can I enter them in a direct contact database ?

Then, come up with the solutions, and keep market to your database.
 
OP
OP
UrbanLegend

UrbanLegend

Contributor
I've Read UNSCRIPTED
Speedway Pass
Jan 22, 2017
61
80
128
27
Munich, Germany
Facebook ads isn't a marketing plan.
You first need to sort:

- Who are my customers ?
- How can I reach them ?
- How can I enter them in a direct contact database ?

Then, come up with the solutions, and keep market to your database.
Thanks for your input! Really appreciate it. Especially coming from someone who has walked the walk.
 
OP
OP
UrbanLegend

UrbanLegend

Contributor
I've Read UNSCRIPTED
Speedway Pass
Jan 22, 2017
61
80
128
27
Munich, Germany
So this weekend we received our prototype and we are very happy. The major question right now is how can we validate our product idea before investing in the mold to produce it?

Our product is comparable to a foam roller. It is made of the same EPP material. The biggest brand here in europe is Blackroll. I am not sure how big they are in the US.
The shape is different from a roll, and so is the use. While a foam roller is for dynamic use. Our product would be for a static use. We already have numerous strechtes that can be performed with our product as a tool. You can also stretch the muscle chains which are very often causing back pain. This actually treats the root cause of the pain and doesn't just ease the pain for the moment.

We want to make sure there is an actual demand for this before proceeding with the production. Any advice is much appreciated. :)
 

SeanLewis

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 7, 2019
21
22
17
Sweden
Just a quick look at the keyword "back pain" in google trends show a pretty drastic curve upwards.
 
OP
OP
UrbanLegend

UrbanLegend

Contributor
I've Read UNSCRIPTED
Speedway Pass
Jan 22, 2017
61
80
128
27
Munich, Germany
Just a quick look at the keyword "back pain" in google trends show a pretty drastic curve upwards.
Yeah when my dad came to me with the idea I looked at the same keyword on google trends. Back pain is a huge issue. Mostly because we mainly sit all day.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.




Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom