- Joined
- Dec 14, 2014
- Messages
- 270
This is a great site that I learned about from "The Millionaire Fastlane" book which I'm reading now.
My current line of business is great but is coming to a close. Years ag I was an artisan making hand made knives. That lead into my step father and I entering into a partnership to market a patented knife locking mechanism. That has done spectacularly (Benchmade Axis Lock) but the term of the patent is drawing to a close. We never were able to come up with anything that could be said to 'replace' the Axis Lock, and the other mechanisms we have patented in the ensuing years have done OK, but only OK. Our partnership stopped working a long time ago, and has come to a close. I have some patents in the works, but I know that I can't expect any of them to pay like the Axis did. It is time for me to spread out into other business.
I have done some real estate investing which went pretty badly. A number of reasons that went the way it did, but that's getting beyond the scope of an introduction.
I have started writing and have one book under a pen name that is doing OK. I haven't done much to promote it, so the fact that it sells at all is promising. I'm currently building a blog to drive sales, and from that spin off into more books under the same pen name, and so on.
Also recently came up with a concept for a brand that I think I can make work. It's a little long on up front costs (I'd need to register some trademarks and create some sort of an entity before I can even start on graphic design and manufacturing and all that before a single sale) and I haven't yet got together with my lawyer to talk it through so there isn't much to tell about this yet. Having had this idea at the same time I am reading MFL is great timing. The book is helping me see what I have done wrong with past ventures (both successful and failures) and giving me some direction on setting this one up. Any way, Once I get a better idea of where I need to stack my legal chips I will be able to really assess what the startup costs will be and from there I will chart the next step. More on this as I take action.
Again, great place and I'm glad to be able to participate.
My current line of business is great but is coming to a close. Years ag I was an artisan making hand made knives. That lead into my step father and I entering into a partnership to market a patented knife locking mechanism. That has done spectacularly (Benchmade Axis Lock) but the term of the patent is drawing to a close. We never were able to come up with anything that could be said to 'replace' the Axis Lock, and the other mechanisms we have patented in the ensuing years have done OK, but only OK. Our partnership stopped working a long time ago, and has come to a close. I have some patents in the works, but I know that I can't expect any of them to pay like the Axis did. It is time for me to spread out into other business.
I have done some real estate investing which went pretty badly. A number of reasons that went the way it did, but that's getting beyond the scope of an introduction.
I have started writing and have one book under a pen name that is doing OK. I haven't done much to promote it, so the fact that it sells at all is promising. I'm currently building a blog to drive sales, and from that spin off into more books under the same pen name, and so on.
Also recently came up with a concept for a brand that I think I can make work. It's a little long on up front costs (I'd need to register some trademarks and create some sort of an entity before I can even start on graphic design and manufacturing and all that before a single sale) and I haven't yet got together with my lawyer to talk it through so there isn't much to tell about this yet. Having had this idea at the same time I am reading MFL is great timing. The book is helping me see what I have done wrong with past ventures (both successful and failures) and giving me some direction on setting this one up. Any way, Once I get a better idea of where I need to stack my legal chips I will be able to really assess what the startup costs will be and from there I will chart the next step. More on this as I take action.
Again, great place and I'm glad to be able to participate.
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