|
04-01-2016, 10:02 PM | #1 |
Major
1635
Rep 1,422
Posts |
New Invention How To's - Need Advice
I was wondering if any of you guys are entrepreneurs whom have invented your own products and:
1. Have applied or received patents 2. Had the product prototyped or manufactured in small batches 3. Have received seed capital as a result 4. Successfully marketed and or sold your product commercially Thanks Y'all. I appreciate your input. |
04-01-2016, 10:25 PM | #2 |
Lieutenant Colonel
919
Rep 1,848
Posts |
What's your question? I've got a lot of experience with everything except #3--I'm not personally the inventor but I've spent god knows how much time at the patent attorney's office and quite a bit of time in China.
|
Appreciate
1
|
04-02-2016, 09:50 AM | #5 | |
Major
1635
Rep 1,422
Posts |
Quote:
As far as your time in China, was that for manufacturing/production? |
|
Appreciate
0
|
04-02-2016, 10:12 AM | #6 |
Major
1635
Rep 1,422
Posts |
What type of manufacturing?
|
Appreciate
0
|
04-02-2016, 10:41 AM | #7 | |
@ste4lthedF82
884
Rep 1,491
Posts Drives: 2016 M4 SSII Join Date: Sep 2015
Location: Los Angeles
|
Quote:
I own a design agency and have developed products for large known companies... Recently decided to launch my own stuff. So Yes, to all of the above.... but there is no real road map.... Every product will have its own unique challenge so there is no blanket answer for success. 1. Make sure to use the best patent attorney you can find and afford. This is crucial if you dont want to get knocked off. Start with Provisional Patent... Then apply for the Utility patent when you have a better idea of where u want to go... But just keep in mind, its just a deterent... And can be very expensive. Just know that even Apple gets knocked off. IMO, The real defense is a strong offense... Meaning saturate the market and leave no room for knock offs.. even if you receive your patent like I did. 2. You will always need prototypes!!! I would recommend testing the market first... Kickstarter is a good platform. It will offer a good indication whether your product is viable. 3. IMO self fund as much as you can if dont want to give up equity. Having partners can be very challenging if you dont have enough control. But sometimes you have to do what you must. Just make sure you are strategic in this matter and your seed partners have more to offer than just $$$. Crowd funding sources like Kickstarter is a good starting point for seed money without giving up equity. 4. This is a tough one! Its a never ending battle but if you make the right moves, you will open the right doors... My product is now in 19countries. Over 1900 stores nationally including Sam's Club, Target, Walmart to name a few. I've just partnered with Disney as part of my offensive strategy to saturate the market even more. Here's me on SharkTank (im the asian dude). Good luck!
__________________
2016 Satin SSII M4 (Instagram: @Ste4lthedF82)
see my featured mods below... http://f80.bimmerpost.com/forums/sho....php?t=1197842 |
|
Appreciate
3
|
04-02-2016, 10:49 AM | #8 |
Lieutenant
91
Rep 455
Posts |
I make carbon fiber car/crazy parts as well as injection mold plastics for household items and cnc metal parts
I want to launch a new motorcycle/car exhaust line but we all know that companies success it purely based on its marketing prowess.... Dispite what people call a "black art" or exhaust tuning and sound, it's easy to make something perform and sound great, manufacturing even for the crazy $$$ akra ti systems is cheap to make |
Appreciate
0
|
04-02-2016, 11:18 AM | #9 | |
Major
1635
Rep 1,422
Posts |
Quote:
How did you find a prototype manufacturer? How long/much did you test the product before Shark Tank? |
|
Appreciate
0
|
04-02-2016, 11:21 AM | #10 | |
Major General
3637
Rep 9,783
Posts |
Quote:
|
|
Appreciate
0
|
04-02-2016, 11:25 AM | #11 | |
YouTube.com/TvTara
6435
Rep 4,714
Posts |
Quote:
__________________
|
|
Appreciate
0
|
04-02-2016, 11:34 AM | #12 |
Major General
3637
Rep 9,783
Posts |
Between me with rubber manufacturing, Theyounconneoisseur with cf, and Alvin with designing, we could come up with a kick-ass product and go back to Shark Tank!!
|
Appreciate
1
|
04-02-2016, 11:39 AM | #13 | |
@ste4lthedF82
884
Rep 1,491
Posts Drives: 2016 M4 SSII Join Date: Sep 2015
Location: Los Angeles
|
Quote:
We were almost a year into the business before we got on Shark Tank. A sourcing agent will be a good start to find manufacturers... Found ours at a tradeshow. Yes, we were already in Nordstrom and Amazon so we had proof of sales before entering the tank. Tested it on Kickstarter before we launched.
__________________
2016 Satin SSII M4 (Instagram: @Ste4lthedF82)
see my featured mods below... http://f80.bimmerpost.com/forums/sho....php?t=1197842 |
|
Appreciate
1
|
04-02-2016, 11:41 AM | #14 | |
Major
1635
Rep 1,422
Posts |
Quote:
|
|
Appreciate
0
|
04-02-2016, 11:42 AM | #15 | |
Major
1635
Rep 1,422
Posts |
Quote:
|
|
Appreciate
0
|
04-02-2016, 11:46 AM | #16 |
@ste4lthedF82
884
Rep 1,491
Posts Drives: 2016 M4 SSII Join Date: Sep 2015
Location: Los Angeles
|
Thanks. But success is sometimes a myth and a matter of perspective
Being an entreprenuer is not for the faint of heart... Its a constant challenge every day.
__________________
2016 Satin SSII M4 (Instagram: @Ste4lthedF82)
see my featured mods below... http://f80.bimmerpost.com/forums/sho....php?t=1197842 |
Appreciate
0
|
04-02-2016, 11:56 AM | #17 |
@ste4lthedF82
884
Rep 1,491
Posts Drives: 2016 M4 SSII Join Date: Sep 2015
Location: Los Angeles
|
Yes... From scratch. If you really want to know the full back story you can check out our Kickstarter campaign.
https://www.kickstarter.com/projects...?ref=discovery
__________________
2016 Satin SSII M4 (Instagram: @Ste4lthedF82)
see my featured mods below... http://f80.bimmerpost.com/forums/sho....php?t=1197842 |
Appreciate
0
|
04-02-2016, 11:59 AM | #18 | |
Major
1635
Rep 1,422
Posts |
Quote:
Now I'm working in corporate. The pay is like my 2004-2005. Was a business owner at one point but was too immature at the time. Congratulations though. Your success is inspiring. |
|
Appreciate
0
|
04-02-2016, 12:00 PM | #19 | |
Major
1635
Rep 1,422
Posts |
Quote:
|
|
Appreciate
0
|
04-02-2016, 12:12 PM | #20 | |
@ste4lthedF82
884
Rep 1,491
Posts Drives: 2016 M4 SSII Join Date: Sep 2015
Location: Los Angeles
|
Quote:
I completely agree that marketing and sales is key component. Ideas are a dime a dozen. Its all about execution from concept to finish.... And lets not forget $$$ the money to make it all happen.
__________________
2016 Satin SSII M4 (Instagram: @Ste4lthedF82)
see my featured mods below... http://f80.bimmerpost.com/forums/sho....php?t=1197842 |
|
Appreciate
0
|
Post Reply |
Bookmarks |
|
|