Forums: Discussions for entrepreneurs and small business.

Hi,

   I am a student who is in his first year at university. I have had an idea for this specific product that I would like to market. I tried to use the university resources, however they want me to be in a specific program in order to use those resources and services. However, I have no interest in that program.

Now I am stuck. I don't really want to give this idea away, and I have no idea where I can get this product made (maybe China?) or how to legally distribute it or sell it myself. I have no money to spend on it either, because everything is paying for school right now. 

I need help for every step how to actually get this product on the market. I would appreciate the help of anyone who can guide me through this. I will be generous and depending on if the product is successful, give a small token of appreciation once it has gone through! 

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I may be able to help. I would need to know a little about your product and go from there. Feel free to email me at TrimixAllen@gmail.com.

 

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You really have some time to do that, biyt it is really great to see that you have come out with some of the ideas. It is better if you get some knowledge about what you really want to do until you finish your education.

 

thank you

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I was taught that ideas are overrated. It's all about execution. Just go for it! Figure it out as you go.

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Hi HeavyT, 

 

A lot of entrepreneurs (solo founders especially) find themselves in the same boat - we all have these great ideas but then don't know what to do as a next step. I've started a couple of ventures and the first thing that I can suggest it that you study Lean Startup / Customer Development methodology (google it / Eric Ries, Steve Blank and you'll find a million resources). 

Whatever you do, don't spend money building the product before you've assessed customer demand - at the moment you have a product idea which is purely an assumption. You need to test this assumption by talking to real prospective customers alongside conducting your own research to assess whether there is an actual demand for your product. 

I'm actually really interested in this as I'm building a tool to help startups / entrepreneurs talk to real customers and assess their ideas quickly and cheaply. You can check it out here: http://www.feedbaq.net

Good luck! 

Jake

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Market Research

The most important thing at this point is for you to do market research.

1. Are there similar products already out there? If so, what methods and avenues have they used?
2. Would this product be in demand? Talk to family about your idea and see what they have to say.
3. Find out what manufactures are capable of doing and how much it would cost you to design a working model.
4. If you get to this point, patent your idea immediately!

Financing

The #1 way of getting financing is through close friends and family. There are other avenues though.

The federal government does offer grants, but only for certain sectors that help society and local economies.

The last way to do this is simply to save up and/or borrow money. I will soon be posting some resources for you to check out at my Internet Business and Marketing website.

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Internet Business and Marketing
A social network with Internet business resources to help entrepreneurs start, build, and grow their businesses online.