Longtime lurker, first time poster. 
For an existing outdoor/recreation product, I've hacked together a prototype that's basically an add-on feature to the main product. (My prototype is an electronics thing--I'm not really an electronics guy, but the prototype works & does what I want).
Some quick research revealed that one of the main manufacturers for the existing outdoor product created a similar add-on product a few years ago, but it's since been discontinued. Their execution of the add-on product didn't work well & got bad reviews--but buyers liked the concept.
Market size is kinda hard to gauge:
I'd prefer to just license it, since my hunch is that getting it retail-ready, manufacturing, marketing, distribution, etc. may be a lot of effort for relatively small return.
Any ideas & guidance are much appreciated. I need to get out of my own head.
For an existing outdoor/recreation product, I've hacked together a prototype that's basically an add-on feature to the main product. (My prototype is an electronics thing--I'm not really an electronics guy, but the prototype works & does what I want).
Some quick research revealed that one of the main manufacturers for the existing outdoor product created a similar add-on product a few years ago, but it's since been discontinued. Their execution of the add-on product didn't work well & got bad reviews--but buyers liked the concept.
Market size is kinda hard to gauge:
- the 2 main manufacturers of the main product have 100-300 employees each
- the leading manufacturer of the main product generates ~$150MM annual revenue
- monthly search volume for the main product is ~10,000
- contact the 2-3 leading manufacturers about licensing my idea
- refine the prototype & get feedback
- validate / gauge interest with a simple PPC campaign (using a simple demo video or photos), and send would-be buyers to an "out of stock" page
I'd prefer to just license it, since my hunch is that getting it retail-ready, manufacturing, marketing, distribution, etc. may be a lot of effort for relatively small return.
Any ideas & guidance are much appreciated. I need to get out of my own head.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
