Friday, March 22, 2019

19A - Idea Napkin No. 2

I'm a person who is very exploratory. I feel as though I've been good at a lot of things, but never amazing at many things. However, the few things I am very good at, I dedicate my time and effort to perfect it. One of these things is creativity and innovation. For years I've thought and dreamed up ideas, just trying to perfect my thought process. Because of this, I've become a significantly better thinker when it comes to anything I design, build, or even sell. For instance, I've designed and build computers and robots throughout my high school time both for clubs and for my own use. My aspirations for my concept, is to begin in Gainesville, get a steady, secure market. Then market to furniture stores and rental stores for universities around the United States. I feel as though mine is a good idea that can take off. However, before any of this can take off, I must get into the more legal side of things. I must learn about patent laws and infringements before I even propose my idea to anyone. I hadn't considered this until it was brought to my attention thanks to the feedback of my last post.
I am offering both an affordable option for furniture to my customers, as well as an easy, steady supply of rental furniture to rental companies. I am to be the supplier of these companies, working directly with the raw materials up to the retailers. Retailers of furniture would care about my product because of how cheap, yet efficient my furniture line would be. It would be a hit with their customers and thus it would provide a steady supply of cheap furniture they can source for their stores. Even if they don't end up selling every single unit, with how affordable it will be to buy from us, their profits will still be high. What sets my idea apart is that no one has created a full line of foldable, compact furniture, meaning that I'd be unique in that aspect. Furthermore, with how I want to design it, it would be cheap to produce and to sell both to consumers and retailers, meaning that consumers get a good price and retailers make stead profits.

Personally, I believe that with my background in designing and building complex pieces of machinery, I believe that I would have no issue with the tools involved in this trade. However, when it comes to putting pen to paper, I understand that it will be rather difficult and the learning curve will be steep. While I have the knowledge to build machinery, I've never designed furniture, and while I don't think it would be that different, I cannot be certain. Despite this, I'm determined to have this idea come to fruition in one way or another.

From the last post, one thing I hadn't considered is the possibility of my concept being taken. As the feedback had pointed out, I must learn about patent law before I start proposing any concepts to backers, let alone the retailer companies I want to sell to. Apart from this, it seems as though I have a lot of support among my peers, which is well appreciated.

3 comments:

  1. Lucas,

    From the start I have loved your opportunity idea of affordable furniture that is also easily movable. I agree that your background in designing and building complex machinery is going to be a very valuable asset during your journey. In addition, I also support your statement that no one has yet to create a full line of compact foldable furniture and think that it is a great market to go after.

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  2. Hey Lucas,

    I still think your idea of affordable furniture that is easy to move is one that can take off. Your background skills in designing and building machinery will no doubt come in handy for this project. I think it would be important to get a patent for this idea if one is not already out there. Overall great post!

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  3. Lucas,

    The feedback you received from your last post in regards to patent laws, is definitely worth researching. In addition, based off of your description, I feel you have envisioned a successful business model. By being able to maintain a low cost of production, you will be able to offer your service/product at a discounted price when compared to your competitors. This will likely give you a competitive advantage once your business takes off. Great Post!

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