Duncan Jumps In Again

On Aug 21, 2010, at 11:03 AM, Duncan wrote:

John,

Read your recent blog post regarding the fact that a product that people want is more important than money. I'm coming to the firm opinion that it's not just about a product that could make people's lives better, but also one that is within your capability, and can be profitable. Capability is determined by your capitalization, level of authority in the industry and so on.

***You have to pay your dues, so yes, but see below, we've got an error based on a typo...***

Sure.. anyone will build up capital, experience and authority by being in business and bringing products to market. Question is, whether it is possible to come into an industry that you just have an interest but no employment or business experience in, decide on a product and get it developed. Seeing my and others difficulties in getting suppliers to play ball without paying money for r&d, I'm starting to think that the product has to be quite a modest change from an existing product... Something that doesn't require too much time and money to change, and certainly no in depth prototyping, reprototyping and testing. My super expanding case just asks too much of the supplier from a rookie importer who's asking them to front all the development. I'm not disappointed, just wish I'd focused on products that are easier to develop.

^^^ Exactly...  we learn, and it becomes cultural capital, that you will pass on.  You win!^^^

However... if you're making a small change you have to have your ear closer to the ground in whatever market you're entering. It's easy to see from outside the luggage industry that expanding bags are useful. But to see the small things that could be improved or developed you might have to already be working in luggage. Example, a company recently introduced suitcases with no piping structure around the edges... they knew a material that could keep the shape well enough not to need it. In my opinion, the value of this 'benefit' is highly marginal. Could a small company have been started with this innovation? A problem I have is understanding how big the change or innovation must be to support a new company.

^^^ Long ago I used to stress this, in the book I refer to the perturbability rate, meaning new design should be quite marginal... "it does not take much to achieve the necessary "new" in new design...  I need to emphasize this more... again....^^^

The reason for my questioning is because I'm trying to decide between two strategies, one where I take an easy part time job that pays the bills to concentrate on my own projects, and another where I fully invest in the job, gain experience as an importer/buyer for someone else in a particular industry, and gain reputation, capital and industry experience. Don't get me wrong.. i can muster $20k or even $100k to develop a product with a factory, but if I have to do that I'd rather go for a long term strategy of working for someone else and building my capital and experience more slowly.

***You are talking yourself out of starting a biz...***

Well, my situation is I work 20 hours a week, and work on my own stuff the rest of the time. I don't learn anything during those 20 hours, and I've been in the situation for some time so I'm thinking if I work as a buyer I will develop myself during those 20 hours. Of course, I will have less time to pursue my own stuff, but on the plus side I'll have more money to spend on

the business as well.

^^^Wishful thinking , I think...^^^

***Now, deep experience is mere talent, you can hire that on royalty...  your job is to listen and respond to customers... but yes, work within your capabilities to start...

Perhaps I've underestimated how much I should rely on and exploit the talents of the designer. Maybe it is only really a case of convincing a good designer, whose products will usually sell, to work with me. All I provide is the spark of inspiration for something a little bit different. Could that be as simple as a theme or a feel for a collection of bags, I'm not sure.

^^^Man o man, you are getting there....^^^

John

Duncan

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