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.

Why are consumer electronics a bad idea?

Idea threads

Athena

Contributor
Read Fastlane!
Read Unscripted!
User Power
Value/Post Ratio
157%
Sep 22, 2019
42
66
I have an idea for an electric hair tool and receiving proposals for design.
I am going through the forum and it seems the general consensus is to stay away from consumer electronics .

Can someone in the industry explain some more?
Thanks
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

amp0193

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
443%
May 27, 2013
3,696
16,391
United States
The short answer for why you may have seen that here: Because it is difficult.

Failure rates, engineering, quality control, certifications.

Upside potential is certainly there for the right product.

Don't give up on you idea... just make sure you find someone to help you through the manufacturing step, if you aren't sure what you're doing.
 

Athena

Contributor
Read Fastlane!
Read Unscripted!
User Power
Value/Post Ratio
157%
Sep 22, 2019
42
66
The short answer for why you may have seen that here: Because it is difficult.

Failure rates, engineering, quality control, certifications.

Upside potential is certainly there for the right product.

Don't give up on you idea... just make sure you find someone to help you through the manufacturing step, if you aren't sure what you're doing.
Thank you for your reply
 

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
446%
Jul 23, 2007
38,155
170,195
Utah
@MJ DeMarco please move outside.

Done.

I am going through the forum and it seems the general consensus is to stay away from consumer electronics .

My opinion might be rudimentary, but it strikes me as very hard for someone not versed in electronics to invent something, yet very easy for China to knock it off and have your product undercut in a matter of months, if not years.
 

Kid

Gold Contributor
Speedway Pass
User Power
Value/Post Ratio
98%
Mar 1, 2016
1,736
1,707
1. Have a less risky fastlane.
2. Develop your idea when you have cash.

That's how i'd summarize it.
 

Athena

Contributor
Read Fastlane!
Read Unscripted!
User Power
Value/Post Ratio
157%
Sep 22, 2019
42
66
Thank you! Sometimes you need experienced eyes and ears . I will move onto my other more straightforward idea and will hopefully do this later on as I really would like to use this product myself.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Leo Hendrix

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
61%
Apr 15, 2014
497
304
WWW
Hey Athena any. updates...?
 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top