* I don't know if I am in the correct thread, if I am I apologize
It's been a while since I have posted, but that is because I have been super busy. I am working with someone on a product. I have learned so many lessons and literally a different person since I started.
In january, my girlfriend and I began working on a project, a new product we created for the infant market. I called some of my contacts that I have built via my marketing firm and found some partners. These people were tasked to create the manufacturing process and to do so effectively and efficiently with a good price.
NOTHING was done. So I fired them. Please be able to do this task! If a person fails you, give them a second chance, if they continue to fail do not be the full.
Anyways, in may I finally finished university term. So I went out to find the right people to create this product. With time, I reduced my costs from ~$25 to todays cost of roughly ~$9. As you can imagine it has been quite a show.
We have developed two additional products, done a lot of market research, and even speaking with retailers for PO. We are beginning to hear back. I literally have done so much work to get to this point, but I keep running into one problem. STARTUP COSTS!!!
Up until this past tuesday, I had an investor interested and willing to give 50k for a 1.5% equity. This in theory is worth it, as our markets are huge and literally potential for growth is insane. However, he pulled out and began demanding sweat equity and other rants. I have been pondering what I should do. He may be a valuable asset and do not know. I want to remain connected on this forum again, as when I have in the past all of you were amazing help in my business growth.
So these are my questions;
I want to keep everything in the US, but this requires a lot of sunk cost (such as machinery, employee, labor, materials, benefits, factory, travel, etc...). I get the brand affiliation of being AMERICAN though. Plus I would be creating a lot of jobs. Literally at least 30. Which makes me feel amazing.
Plus if we are in the US, we create the product in house. With the waste, I would like to create a small product (our third product) which can be sold and profits given to charity. This means a lot to me, as I do passionately volunteer and give to various charities regularly. Plus everything would be more eco-friendly, less waste in land fills.
- So my problem is, what should I do in terms of manufacturing US or China?
- If I stay in the US, how should I get investments, personal finance, loans or line of credit?
- How can I get more Purchase Orders?
- Does anyone know how to get onto TV?
It's been a while since I have posted, but that is because I have been super busy. I am working with someone on a product. I have learned so many lessons and literally a different person since I started.
In january, my girlfriend and I began working on a project, a new product we created for the infant market. I called some of my contacts that I have built via my marketing firm and found some partners. These people were tasked to create the manufacturing process and to do so effectively and efficiently with a good price.
NOTHING was done. So I fired them. Please be able to do this task! If a person fails you, give them a second chance, if they continue to fail do not be the full.
Anyways, in may I finally finished university term. So I went out to find the right people to create this product. With time, I reduced my costs from ~$25 to todays cost of roughly ~$9. As you can imagine it has been quite a show.
We have developed two additional products, done a lot of market research, and even speaking with retailers for PO. We are beginning to hear back. I literally have done so much work to get to this point, but I keep running into one problem. STARTUP COSTS!!!
Up until this past tuesday, I had an investor interested and willing to give 50k for a 1.5% equity. This in theory is worth it, as our markets are huge and literally potential for growth is insane. However, he pulled out and began demanding sweat equity and other rants. I have been pondering what I should do. He may be a valuable asset and do not know. I want to remain connected on this forum again, as when I have in the past all of you were amazing help in my business growth.
So these are my questions;
I want to keep everything in the US, but this requires a lot of sunk cost (such as machinery, employee, labor, materials, benefits, factory, travel, etc...). I get the brand affiliation of being AMERICAN though. Plus I would be creating a lot of jobs. Literally at least 30. Which makes me feel amazing.
Plus if we are in the US, we create the product in house. With the waste, I would like to create a small product (our third product) which can be sold and profits given to charity. This means a lot to me, as I do passionately volunteer and give to various charities regularly. Plus everything would be more eco-friendly, less waste in land fills.
- So my problem is, what should I do in terms of manufacturing US or China?
- If I stay in the US, how should I get investments, personal finance, loans or line of credit?
- How can I get more Purchase Orders?
- Does anyone know how to get onto TV?
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
