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Old March 31, 2009, 02:32 AM
Phil Phil is offline
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Join Date: Sep 2006
Posts: 1,857
Default Re: How a startup idea failed... Failure? The idea just needs a Fresh New keyhole...

Ankesh,

Thanks for the story...

Bottom line... No matter what Specialty product one decides to get themselves into...

Always start off by practicing, testing and re-working things with a Prototype and/or a small Sampling of the particular product...

Never go Full hog right away... Smart Planning and Heading in the right direction is the key...

As with any Big'ish type investment in business... Do all your research and homework Extremely well before making that final decision and proceeding...

Trust me, without a full understanding on all business dealings you can lose Profits and Revenues very easily and throw Good money down the drain...

Quick example and a Great tip if you just happen to be buying Hard good specialty products from whoever in volume...

When importing/exporting goods in general... Be aware that shipping and duty costs can be Extremely costly when using standard companies like UPS and many others... Definitely shop your options around extensively...

Perfect example... A recent $15,000. USD shipment... US to Canada was quoted at $2,000. USD and Higher for shipping with a variety of companies like UPS etc. for about a dozen or so large boxes approx. 2,000 Lbs...

Cut your costs Big time by using Freight Forwarding services... It's a Much more efficient method of moving goods, no matter the world-wide destinations involved...

Shipping costs in this situation were reduced to less than $500. That's more than a $1,500. USD savings Simply by getting the supplier to do a 1 pallet shipment with shrink wrapping... Via the Freight Forwarding method...

Obviously the Condom Key Chain idea works... Misc. suppliers included if you go down the page and Google around...

I guess it all depends on what Failing really means?

Maybe the idea just needs a little more Brainstorming and Re-Creation to find the right keyhole... Controversial marketing too...
http://www.google.com/search?hl=en&c...Sear ch&meta=
http://www.google.com/search?hl=en&c...ains&spell =1

Phil

Last edited by Phil : March 31, 2009 at 02:49 AM. Reason: additional info
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