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41 comments
Plastic and metal😂
I think he gave the best advice, he doesn’t know. She doesn’t have an actual product. What wants has been discontinued and it’s probably because the company ran out business, had some kind of defects or there wasn’t enough of a market for it. There’s probably a legit reason why they don’t sell it anymore.
Wow…find someone to help you…what a great idea…. You do realize the people that make 30000 a year. Don't know people they can help them. All they know is other people who were in the same position as they are, They don't know where to find these people how to find these people how to talk to them, And even if they did, most of those people would dismiss them immediately. She's coming to for help. Man Have some empathy to her situation.
BS no-one will help you but only you
Im also trying to start a business but Im wondering if you can get a patent for a product that already exists but with the changes I'd like to make? Also, should you have a patent before going to a manufacture to get your prototype started? If anyone can give their feedback, that would be great! Thanks all!
It’s MAAAAM!!
One of my biggest questions here was why did the company discontinue it?? Were THEY profiting off it? Also because it was already sold she can't get a patent.
I'll do it for half…
So Yael hasረሰኣአችሀድ 0% as to how to turn her idea into a business. Yael take a business course.
The comments section gave more suggestions than Dave! Thank you 🙏🏾
Soon as she said her baby products are mostly to be made of plastic or metal…that’s where I was not interested. Try glass and maybe recycled paper you’ll have many buyers
I really wonder what product this is
Dave, you are not only an expert in finance, but also in questions, suggestions, and working through problems on the fly. I learn as much from you about asking and listening as I do about money. Thank you, and God bless you with continued success in helping others succeed!
This is a great illustration of the wide open opportunity to formulate baby step 1 for starting your own business.
Business Baby Step 1
Take Inventory
(My take away summary note from Dave's and other's talks on the real baby step 1 of creating your own business.)
Lutherangrants ,org helped me with a grant of $30,000 .They are really awesome.
Draft a purchase contract and drum up enough sales to get the product off the ground. My$0.02. Godspeed.
Regardless of what the item is, and who still owns it, it's legal to make changes of the item and make it your own. What you cannot do, is keep the item the exact same way from the original design and sell it. That's where they get you. Example: Cartoon mouse character you create that has NO relation to Mickey Mouse, or Disney. Make the character for books to toys, and sell it.
Now, making Mickey Mouse itself and trying to sell it and make money, definitely NOT legal by any means.
Nobody cares
Expeditetools com helped me financially for my business .I got $40,000 from em.
That didn't help at all.
i work in a manufacturing runing CNC , punch press , metal polishing ,buffing, grinding painting , all what she have to do is draw on a paper the parts plastic and metal and the dimensions , so when she have all that start searching for a manufacturing company
How do you swim with no arms?
Isn't baby manufacturing in the bedroom 😉
Shark tank
Need to do a patent search first.
No, this isn't good advice. First thing you do is see if there is any demand and competition. Just because the product you like isn't made anymore doesn't mean someone else somewhere in the world isn't making it already. Also, "your community" likes it is doesn't mean they actually are wanting to buy it. Do research on all of this first. If there is a lot of demand and the previous, or other companies don't already have patents on it then maybe look into actually making it.
so I just saw this 4 minutes video just that didn't lead to anything?
She is not a business person, no drive or motivation whatsoever. But to become a successful person we must do it even if it fails.
ROLL TIDE!
This is why so many businesses fail. She needs to focus on the product first. Business is later. Make a prototype, give some away, collect feedback from people. Oh yeah, and don't give it away to family/friends and expect honest feedback from them. Some will support you even if your product is stupid. They just don't have the guts to say it.
Just because a product has been discontinued doesn't mean that you can all of a sudden start selling it. The company that was selling it probably still has the patent, or their license with someone who sold it ran out which is why it is discontinued. Dave is right, this is a very easy way for people with no knowledge of law to get sued into bankruptcy. Before she even called Dave, she should have researched if she is even legally allowed to sell the product she wants to or is there a patent she will be violating, or maybe a product safety issue (since it is a baby item).
cmon dave.. Kickstarter, gofundme!
There's a Business startup plan class in New York Public library and Queens Public Library every year. $10,000 plan competition!
I wouldn't bother unless with a patent unless its worth at least 3,000,000$
listen to Eric Thomas videos, he yells you what he did to be successful when he didn't have something
get on shark tank
She is crazy:(
go for a patent then lease it?????
why doesnt she start a gofundme or kickstarter account ?
Taking out 100,000 to invest when you don't know about anything business let alone if you'll make profit is a pretty stupid idea.
Alibaba- it'll probably cost you $10-20k to fully manufacture. A few hundred for a mold.