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Ronscons
04-20-2018, 04:13 PM
Hi Guys

I am at the embryo stage of a fresh new start up venture. It primarily consists of a device that I have tweaked in order to perform a much needed function in the sporting arena. The global users of this particular sport/pastime, according to wiki, is at around 3 million users at present and counting.

I am still in the testing phase of the development of the product and so far the results have surpassed beyond expectations. I have done a small degree of market research in my area and 80% of the focus group has responded very positively and claimed that they will buy this device the moment it hits the shelves, so I am relatively confident that I do have a winner here.

The issue however is...in order to carpet bomb the entire global fraternity related to this pastime via every known media, must I be able to supply the device in the projected quantities....

My question regarding this is for obvious reasons...funding.

I am able to have some units manufactured out of my own pocket, enough to get the ball rolling, but will it not be more beneficial to present the invention to the big suppliers in field of this sport and get them to either fund manufacturing the device and have it roll out under their name as a subsidiary to their existing brand, or do i sell it in its entirety to them and walk away? (for that i will need to have it patented which in itself sounds like a massive headache)

Eagerly awaiting your thoughts....... ;)

Mike Thompson
10-13-2018, 07:17 PM
If the idea is solid, you better patent it if you can. Unless it is severely technically challenging, and you are uniquely gifted at solving that specific problem, any medium sized company will rip off the idea the minute they see it and out compete you in the market place with more funding, better marketing, and production capability.

Srijana Pandey
02-20-2020, 12:35 AM
The challenge will be during that phase. Having to start-up a business definitely presents a lot of challenges. - Marla Ahlgrimm (https://marlaahlgrimm.co)

Yes, You are right business is all about the patience game. Start-up business simply means the challenge takes in life and also makes us that much capable to know about the trends, strategy and all the rules of the business. In every step, you have to face the new problem either it is big or small.

bandbconsulting
06-18-2020, 02:24 AM
Awesome idea. Any medium-sized company will rip off the idea the minute they see it and outcompete you in the market place with more funding, better marketing, and production capability.

mariocimaro
07-02-2020, 12:34 PM
Good idea. If you present your idea to bigger company you have risk that they can copy your idea.

smallbusinessguru1208
07-08-2020, 11:06 AM
Hi everyone!

My full-time job is marketing for a business incubator in Muncie, Indiana, and I would love your input on my small business survey.
We are looking to expand our services and your input would be very helpful.

The survey is below.
Thank you so so much!

https://docs.google.com/forms/d/e/1FAIpQLSfVKw0gU9PgsuS03whoAwXkuGqYMMQolMQtluBrV0P2 GSrQfQ/viewform?usp=sf_link

SamillaR
09-01-2020, 03:08 PM
I agree with you that the bulk of the capital bizes be in circulation. In addition, the owner of this business certainly doesn't have all the income in his bank account. You need to find investors for your start-up. I think there are many informative articles on the internet about writing good startup presentation and there are many templates for writing detailed business plan. I have found many analytics and forecasting tools that can help you get rough estimate of the profitability of this idea. Also here https://fairfunded.com/ you can find the help of specialists in attracting investors and finding the right amount of money for starting capital.

Scott Smith34
01-03-2021, 07:33 AM
Hello,
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jumac
01-25-2021, 04:30 AM
You have to keep patience and never disclose or sale your product idea but have to wait and try maximum for funding start with the smallest one borrow funds from your friends, families etc.
Once a man said to me that, "If you want to do a business then you always have to be a beggar."
So, just keep patience and try harder to get fund from anywhere so that you can deliver your product on time one by one.

Doris1
01-26-2021, 10:35 AM
I think you need to find ways to be effective. You need to knock on many investors' doors and know how to pitch your idea.

I found this article (https://www.entrepreneur.com/article/347036) inspiring.

I suppose you need to do lots of reading, get to hear what other's who have done it have to say.

It's abstract things like the article stuggests but also practial stuff like how you make everyone involved feel they get their fair share for their day's work.
(I was reading about an approach as to how to do that but I cannot remember the name and I cannot spot it right now.)