- Joined
- Oct 11, 2014
- Messages
- 75
Rep Bank
$305
$305
User Power: 53%
Hi guys, relatively new to the forum, just read the book which I think was amazing, thanks MJ!
I have a list of ideas but my main project that will solve some problems in a medium popular recreational market.
There are existing products out there that I think are heavily flawed. I want to perfect it and i think if I can turn my idea into reality, it would sell like hot cakes and potentially change the way the game is played in that recreational environment.
This product i pretty small and quite expensive. So really keen to beat people to it because I’m sure other people might be thinking of the same idea.
I have never thought about inventing a new product before and god knows where to start?
common sense would be that step 1 is to find an engineer/inventor, he/she would have to make a prototype, play and cut around with metal work and merge it with some electronics, this is the most important step. Perhaps do some 3D printing to cut costs and then make the metal version after things are finalised. I think I could sell these at £200 per unit and the cost maybe up to £50.
I understand, that pitching the idea to a potential idea investor would not be a good idea. Like MJ says, investors want prototype proactive executioners so I need a prototype, I need the thing in my hands.
I am guessing it would be quite expensive and my life savings could be at risk if the engineer does not succeed at making my product with my unique selling points.
I am soaking up the forum like a sponge and getting all the info as much as i can, but figured i would make a thread and gather a discussion of what to do, perhaps get linked to the best content...
This project is quite scalable and distribution shouldn’t be a problem.
Please feel free to give me any constructive criticism as possible. I need to do this. i will regret not trying. I am currently in the slow lane and this could be my big ticket to freedom!
Thanks in advance.
Phil from Manchester- UK
I have a list of ideas but my main project that will solve some problems in a medium popular recreational market.
There are existing products out there that I think are heavily flawed. I want to perfect it and i think if I can turn my idea into reality, it would sell like hot cakes and potentially change the way the game is played in that recreational environment.
This product i pretty small and quite expensive. So really keen to beat people to it because I’m sure other people might be thinking of the same idea.
I have never thought about inventing a new product before and god knows where to start?
common sense would be that step 1 is to find an engineer/inventor, he/she would have to make a prototype, play and cut around with metal work and merge it with some electronics, this is the most important step. Perhaps do some 3D printing to cut costs and then make the metal version after things are finalised. I think I could sell these at £200 per unit and the cost maybe up to £50.
I understand, that pitching the idea to a potential idea investor would not be a good idea. Like MJ says, investors want prototype proactive executioners so I need a prototype, I need the thing in my hands.
I am guessing it would be quite expensive and my life savings could be at risk if the engineer does not succeed at making my product with my unique selling points.
I am soaking up the forum like a sponge and getting all the info as much as i can, but figured i would make a thread and gather a discussion of what to do, perhaps get linked to the best content...
This project is quite scalable and distribution shouldn’t be a problem.
Please feel free to give me any constructive criticism as possible. I need to do this. i will regret not trying. I am currently in the slow lane and this could be my big ticket to freedom!
Thanks in advance.
Phil from Manchester- UK
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
