New business, new product

[LimaDelta]

Does anyone have any recommended reading for someone completely clueless about starting a business, developing and bringng a new product to market (i.e. prototyping, patenting, marketing etc.). I know any Google/Amazon search will produce plenty of results but personal recommendations, particularly from anyone who has done similar would be much appreciated.

[LimaDelta]

DSLiverpool said:

I’ve done all of that, happy to have a chat if you wish.

Thanks for the offer. I'll PM you later today if that's ok?

[LimaDelta]

Tuna said:

LimaDelta said:

Does anyone have any recommended reading for someone completely clueless about starting a business, developing and bringng a new product to market (i.e. prototyping, patenting, marketing etc.). I know any Google/Amazon search will produce plenty of results but personal recommendations, particularly from anyone who has done similar would be much appreciated.

Do you want to share a rough idea of what sort of product this is? B2C? B2B? Target industry?

Fitness equipment. Mid to high end. A very strong USP with nothing comparable on the market (at least nothing using the core tech), and will be sold to gyms and direct to end users.

[LimaDelta]

Tuna said:

Go and talk to your nearest independent gym (under NDA) and find out if they'd be willing to put in an order for what you're proposing - pitch to them and see if they see what you see. Equally, ask them if they'd let you put out a questionnaire or talk to their clients.

A solid order or a robust promise would really help your business case.

Edited by Tuna on Tuesday 21st July 21:00

Thanks Tuna. At the moment my timeline looks like this:

Develop prototype - prove concept - patent - raise funding - manufacture/product launch.

Am I thinking about this the wrong way? The way I see it is that the business does not really exist until we are at least at step 2, maybe 3? I have access to a few personal trainers and there are a few academic papers which demonstrate the benefits of this type of training, though there is no product which actively uses this method.

I have another product I'd also like to bring to market. It is much simpler and cheaper, but relatively niche (and completely unrelated to the other product) and will be marketed directly to my current industy. I'm thinking that it might be a good idea to run with this idea first, and use it as a learning exercise before going for the big one. Any reasons not to do that?

[LimaDelta]

LooneyTunes said:

On the IP topic: people often overlook the fact that solid execution of processes can trump the codified IP itself, to the extent that knowing the how can be more important than the what. I’d argue that few companies are going to win over the next 10 years by focusing on the traditional views around IP and traditional delivery models...

So are you saying that if you do it right the first time, you don't need to worry about people (inevitably) copying? First to market and all that?