TheEngineer
New Contributor
- Joined
- Jan 25, 2020
- Messages
- 5
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$125
$125
User Power: 420%
Hi all! After following the forum for some time passively I decided to sign up and start contribute.
My name is Niels and living in Germany since 2 years, originally I'm from The Netherlands but I made the decision to move to Germany during my studies to pursuit my Automotive and engineering passion. The change has been of great value on both professional as well as personal level. Currently I've landed in a steady but slowlane job as a development engineer within the automotive field (Hybrid vehicle technology), the job is good and the payment ok.
My job is quite scientific and theoretical but in order to compensate for this I love to work at home on my own projects, from programming and developing electronics till making my own furniture (wood/metal) and my own Lotus 7 for which all "custom" components have been designed and made by myself, using my lathe and/or mill. I possess a lot of theoretical know how and practical skill but I somehow lack the skill to convert this to money as it seems I just don't see how I could serve the market, or add value to peoples lives with this.
However, together with my girlfriend we're currently performing a market research for a consumer product we have in mind. This product has nothing to do with my profession but is more related to furniture. At the moment the specific market already has some players competing with each other, but the niche/segment is over 40 years old in which the oldest player used to be the only player. They have created their product 40 years ago and have never improved upon the design apart from some small details. The reason for this from my point of view is that they didn't change their product because they have been the only player in the field, until 5 years ago. The new player on the market has brought a significantly improved product to the market, but my expectation is that there is still room for improvement and that the market is not saturated yet. Currently we're working on figuring out how big the cake actually is, and how the shares are divided over the different players in the market. This should answer the question if the cake is indeed, as expected, big enough for an extra player with some USPs over the competitors. Performing this quantitative market research is however harder than I expected at first, so if there are any tips on this, they would be very welcome
So what I hope to achieve on this forum is two fold. On the one hand I hope to gain information and inspiration from other fastlaners, but at a certain point in time I would love to be able to give that back to the community, because this would indicate that I have learned, as well as that I gained experiences along the road.
Best,
Niels
My name is Niels and living in Germany since 2 years, originally I'm from The Netherlands but I made the decision to move to Germany during my studies to pursuit my Automotive and engineering passion. The change has been of great value on both professional as well as personal level. Currently I've landed in a steady but slowlane job as a development engineer within the automotive field (Hybrid vehicle technology), the job is good and the payment ok.
My job is quite scientific and theoretical but in order to compensate for this I love to work at home on my own projects, from programming and developing electronics till making my own furniture (wood/metal) and my own Lotus 7 for which all "custom" components have been designed and made by myself, using my lathe and/or mill. I possess a lot of theoretical know how and practical skill but I somehow lack the skill to convert this to money as it seems I just don't see how I could serve the market, or add value to peoples lives with this.
However, together with my girlfriend we're currently performing a market research for a consumer product we have in mind. This product has nothing to do with my profession but is more related to furniture. At the moment the specific market already has some players competing with each other, but the niche/segment is over 40 years old in which the oldest player used to be the only player. They have created their product 40 years ago and have never improved upon the design apart from some small details. The reason for this from my point of view is that they didn't change their product because they have been the only player in the field, until 5 years ago. The new player on the market has brought a significantly improved product to the market, but my expectation is that there is still room for improvement and that the market is not saturated yet. Currently we're working on figuring out how big the cake actually is, and how the shares are divided over the different players in the market. This should answer the question if the cake is indeed, as expected, big enough for an extra player with some USPs over the competitors. Performing this quantitative market research is however harder than I expected at first, so if there are any tips on this, they would be very welcome
So what I hope to achieve on this forum is two fold. On the one hand I hope to gain information and inspiration from other fastlaners, but at a certain point in time I would love to be able to give that back to the community, because this would indicate that I have learned, as well as that I gained experiences along the road.
Best,
Niels
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