Well, it’s been awhile since I’ve updated here, and frankly, it’s because not much has been happening worth writing about. However, I felt bad for just up and leaving, so I thought I’d jot down a few thoughts.
We’re still in the “where can we get this thing prototyped” phase. I’ve got a couple vendors that are very promising, especially with regards to price, and they are both based here in the US. I’ve also put an RFQ (request for quote) out on mfg.com (great site that hooks buyers up with suppliers) and I’m waiting on bids there.
I don’t know how long the mfg.com process takes, but I think I should know something within the week. I’d love to hook up with some Chinese suppliers, because I think the prices will be much better…quality should be on par with someone here as well – at least, that’s going to be a requirement.
Meanwhile, we’ve gone back and forth through the “cold feet” process, where I start doubting that anyone would buy this and Mollie talks me back down out of the tree. I’ve been doing informal surveys in a couple spots, and the interest is mixed.
What does that tell me? Well, I think it tells me that much of the success of this product is going to lie in very careful positioning and marketing. The audience who would buy this thing is increasingly becoming smaller and more focused. That’s a good thing as it gives me a much more targeted marketing approach. That said, it also reduces the overall size of the potential market, resulting in a smaller overall revenue expectation, etc… Right now, I just want a prototype so I can actually put together some materials and do some test marketing.
That’s all for now. We’ve also been batting around other ideas that are unrelated to this one. Ideally, I’d love to have the cash flow and capital to build out idea after idea, put it on someone else to run it and more onto the next. I’m….innovation man!
