Message Board Archives

Black said:

It came over like flatulence. everyone read it, no one commented. Shame.

Anyhow: Black, congrats on this direction - I just spent some time catching up (vacation start) on the GREAT threads on cc.com and came across this above post by you.

we got some real talented peps on this board. So don't underestimate the value of "testing" your concept here. It is no small matter to take ideas from "thought to fruition" - so big respect to you, and a sincere best of success on the venture. For all the shite talk dat does fling down.... substance is between the lines. even if you don't get your "invention" realized, I strongly advise you attempt to patent: just for the experience. I used a lawyer, but you can self-file.

It is hard fcaking work bro, Over to you..

In reply to pelon

I am working on an exercise equipment, it will be the only one of its kind on the market. I cannot discuss for obvious reasons.

This is my third invention, I got an offer from a major home improvement company on the second one but didn't have the funds to produce it, didn't want to take a chance on Internet funding. Anyway, I'm hoping that the "third time is a charm". I have a potential investor on this one.


Thank you very much for the nice words!!!

In reply to black

Are you fing kidding me? That makes no sense as a statement.

If this is REAL "offer from a major home improvement" then "didn't have the funds to produce it" is utter bullshit.

INVENTORS create concepts/ideas
MANUFACTURES create products
ENTREPRENEURS bring it to market.

you have to figure out quickly that a one-dimensional path wont get you any success. Plot out each.

In reply to black

Chinese...

In reply to pelon

I have the vendor application right here. A company in Ft, Worth was going to produce the stuff for me, they met all criteria required of vendors but again, funds was the problem.

In reply to pelon

If you want to PM me your email, I will send it to you this evening.

In reply to black

See, that's the facking problem.

YOU could not leverage an offer against a manufacturer. Do you think you are the first man with limited funds to bring an idea to market?

Details (you should know I would go there)

1. DID you have a real commitment from a vendor to purchase your invention/product?
2. DID you shop production? I know you live in Texas bro, but local Ft, Worth manufacturing is myopic.
3. DID you present a business plan to investors (outside of family/friends)?

PS: Bro. why the fack would I want you to email me a vendor application? Focus on big picture, not minutia

In reply to pelon

In this case, I am consider the vendor. The company (home Depot) agreed to market the product but would not assist in funding of it.



I looked into several companies but the one in Ft. Worth had everything needed to make the product.



I had one person that wanted me to submit a business plan but the patent was provisional at the time, so I was a little hesitant. He was going to present it to investors.

In reply to black

Black ah tell yuh yuh shoulda gee me it!! We woulda be making real money dis xmas at Walmart!

In reply to pelon

how u big up and then cut down the man so fast

In reply to cricketmygame

Not at all. Never was the type to see landmines and let a brother repeat. This is all about BIG UP and forward.

In reply to cricketmygame

No, I don't mind the questions being asked

In reply to bravos

Do you remember me talking to you about this a long time ago? I was trying to get funding back then.

1. Failure is a good lesson. Repeating failures not so good.
2. Long before you go to home depot, figure out production.
3. Leveraging commitment to buy against production is the where a buisness plan and investors come in. You must compromise until you have a base of your own. By compromise, I mean instead of letting an opportunity go by, cut your share, take in investment (share the risk too) - so that when you invent Product #3 --- IT'S ALL YOURS.

Get ballsy: ask for a 10% advancement for your order (slim to no chance, but not impossible). Ask manufacture for terms - even if you end up with 30 days post production - then you have leverage. Take risk, but also let investors SHARE that risk.

Question: how much money did you need (rounded in thousands) for the initial production batch?

In reply to pelon

I talked to the guy at the manufacturing facility, (Mr. Anderson) it was his idea to approach home depot with an offer to pay for the initial cost but they said no. I imagine if I had someone who is a good negotiator, I might have been able to pull it off. His assessment was that most of the cost would be in the production of the mold, that would have be contingent on funding, we never talked about exact numbers but I think the initial cost would have been under $200,000.

In reply to black

YOU too must learn the art of the sale if you want success.

So a 150-200K initial production cost.
What was your Home Depot commitment worth?
When Home Depot committed, did they ask for exclusivity? If yes, learn to leverage that. If no, did you aggressively look for other buyers?

In reply to pelon

That would have be contingent on other steps in the process. These guys are not going to spend a lot of time talking to me, if I didn't complete the first steps.

This company in Ft. Worth would have taken care of the production, shipping and tracking, home depot's only Borden would have been marketing.

In reply to pelon

Home Depot have certain requirements of vendors, which the production company met, that would have allowed me to go to the next step.

In reply to pelon

They didn't ask for exclusivity, I did looked for other buyers but HD was the only ones to agree to put it in their stores upon completion. Again, it's a step by step process.

make the prototype and then get on "Shark Tank" for investment. MAybe mark cuban will jump een or even lori from QVC.

In reply to black

Really? Stupsse, you don't thinking I am well aware???.

You missed a key question: What was your Home Depot commitment worth, and what was their commitment? You answered the "production side" now if answer to the "I got an offer from a major home improvement company"

What I am trying to reconcile is how you had a hard offer to purchase and could not leverage that. I need a summary detail of what HD offered.

Was it in writtng? Was it verbal? And what was it.

In reply to pelon

Both, verbal commitment and vendor application.

The vendor application was going to be taken care of by the company producing the product.

I also have written email agreement.

In reply to black

So you had a commitment from HD - conditional of course - but HOW MANY UNITS did they commit to buying on first order?

A verbal commitment is NO commitment. So we cross that off.
A vendor application is procdural and NOT a commitment. So we cross that off
An email agreement from Home Depot, though strange, I can accept.

How many units did HD commit to and what was the value of that commitment?

Anyhow.... I have to run to Home Depot to buy an aluminum pole for Festivus tomorrow. Airing of Grievances star at 6.

In reply to pelon

Believe me, it was not a lack of diligence, they will not negotiate unless you meet the steps by step process. In other words, you have to complete step A to get to step B.

Talk to you later.

In reply to pelon

I have not given up on that project but I am going to put it on the back burner for now, in pursuit of my latest project.

By the way, I have several ideas, just waiting for a break on one of them.