Business/product brainstorming

[KaiineTN]

I've been doing a lot of business reading, research, and experimenting lately, and I think it's about time I get off my ass, take a risk, and start something. I figured I'd have a bit of public brainstorming for ideas or directions to go in on NT, since we do have a fairly diverse crowd of people here. Have you ever thought that there has to be an easier, better, faster, cheaper way to do something? What about an existing product that could be modified or improved to better serve a more defined target market? You guys have experience in various fields and have been exposed to and understand things that I do not, and I want to make the best of that, if I can.

Here's a bit of an idea of what I'd like to end up with. Ideally, the retail price of the product will be over $20, and less than $200. It will either be an information product, or something relatively easily and quickly manufactured (no high tech gadgets). I'd rather have it targeted towards a small niche market while having a higher profit margin and selling less units, than produce a shitload of products that I'm trying to sell to everyone while facing heavy competition that drives my profit margins down. I want to keep it somewhat small scale since this is the first business I'll be starting and building on my own. Due to inexperience, I don't want to get overwhelmed with debt or demand.

I have no problems with paying royalties for a well developed idea, either, but if you want to go that route it's best to PM me. Otherwise, share some thoughts.

Some ideas I've looked into or experimented with on my own so far: biodiesel production, solar panel installation, how-to videos for those two things, web hosting, Flash based learning software, etc.

[10sun]

SD based HD movie rental/sales.

[Tikker]

so, you really have no idea what you'd like to do other than you'd like sell or produce something cheaply, and make a big profit on it?


grats on the original idea!

[KaiineTN]

Well, I know that entrepreneurship has been in my blood for two generations before me, and that the idea of building a business is just about the only thing that gets me excited career wise. A big profit isn't necessary, I just want the business to be able to survive. I'm not doing this because I want to be rich, I'm doing it because nothing else seems appealing to me.

While I have no idea what my product will be, I do know what it wont be. The business and its products would have to be ethical. I don't want to live in a house that I know was paid for by selling dildos made by Chinese child labor or something. And of course, whatever product I end up with has to be worth the price tag I stick on it in terms of usefulness and quality. Screw those people that make those one page websites with 20 pages worth of material and pictures trying to sell some borderline useless information product for hundreds of dollars. I do not want to rip people off.

But you're right, I do not know which direction I want to go in at this point. I just know that I want to start a business. I have the resources--monetary, time, and a couple of business-savvy mentors--all I need is a solid idea that gets the direction thing covered.

[Jay]

Going for the money or glory of being the first at something? Common misconception in business is that you need an original idea to make money.

[Gaazy]

Dont really know what to tell ya as far as products, ill let you figure that out, but I can give you some tips and whatnot on the actual running of the business. Mine and my dads company right now employs 30 men, from welders/fabricators to whatever. We started with me, him, and 2 shop guys, and this March will be 5 years.

One thing I can tell you right off, is one word. Papertrail. Always, always, always have a papertrail. From the first purchase requisition to the PO to the receiving of the item. always have a papertrail.

Any other questions, feel free to PM me. I may be in a whole different kind of business and industry (underground coal equipment), but the basic aspects of it are bound to be the same.