Manufacturing Profile complete

Both working in and out of class today I finished the manufacturing profile of my business plan. I have decided to split my positions into three main tiers. These mainly include the following below. However, if you are looking for the direct description for each position with in more detail you must refer to the safe sip business plan itself.

Tier One- Major company Positions

CEO- Chief Operating Officer or President of Safe Sip

Tier Two

CFO- Chief Financial Officer

COO- Chief Operating Officer

Product specialist- Combination of Engineer and Designer 

Head of Sales & Head of Marketing (at a beginning stage this is one position)

Tier Three 

Company Lawyer

Two Sales Teams- franchise & consumer based products (2 positions)

Product Specialist (1 personnel)

Manufacturing Workers

An Easy Way To Help Me Out

Perfect Product Test for Safe Sip

Name:

Date:

All you do is copy this post into a new post, highlight, or bold, underline, or change color to what you believe my safe sip offers and does not offer and then post it! Please only select one answer either No, Uncertain, or YES. Thank you in advance for your time and honesty. 

At a later post I will tell you why this is significant and what the point of this "TEST" is!! 

Please be honest with your answer

1.     Is your idea for a product a consumable product?

NO                   UNCERTAIN                           YES

2.     Can you manufacture the product for 20% of the Retail Price?

NO                   UNCERTAIN                           YES

3.     Is your idea so different that people will be convinced to change what they are currently using for your new product idea?

NO                   UNCERTAIN                           YES

4.     Does your idea have a mass-market appeal?

NO                   UNCERTAIN                           YES

5.     Can a customer instantly understand what your product does or is used for?

NO                   UNCERTAIN                           YES

6.     Does your idea fall into an established category?

NO                   UNCERTAIN                           YES

7.     Will your idea qualify for a utility patent?

NO                   UNCERTAIN                           YES

8.     Can your product idea be demonstrated on TV?

NO                   UNCERTAIN                           YES

9.     Is your product more remarkable or different than anything out there?

NO                   UNCERTAIN                           YES

10. Will your product deliver much more than the customer expected?

NO                   UNCERTAIN                           YES

Constructing Sales Team Six

Well maybe its not quite the operation of a Navy Seal Team but over the weekend I have decided on how the sales in my company are going to be run. I have decided to split the sales unit into two major sections. The first section is the Franchise Sales Team, which will be mainly focused on the selling of my idea to major franchise organizations and companies. The second major section is the Safe Sip Product Sales Team which is focused on selling our products to individuals through advertising such as informercials. Depending on what direction we want the company to go toward first will determine what sales team is hired first. The sales teams will not be be hired until the final prototype is manufactured and finalized. When presenting this idea toward the major franchises the Franchise Sales team will be present. Now some of the major criteria that will determine which personnel will be hired depends on past experience in sales and marketing as well as connections to important individuals, companies, etc.

Positions In Safe Sip

Are you looking for a future job? Looking to make millions? Well tonight out of classes  I worked on and accomplished the Personal Profile section of the business plan. This section mentions the major positions that are essential in starlings and running a company so that it will be successful. The major positions that I have included include; Engineer, Designer, CEO, CFO, COO, and a Lawyer for the more complicated paper work, NDA, contracts and future patenting. Each of these positions is extremely important and are essential  for success. As I mentioned in an earlier blog it is just as important to know your strengths as it is to know your hardships. Therefore, knowing that I need help in a particular area of my business is a very good thing. This is because I can hire people to do something that I am not good at so that the company does not struggle as a whole.

Mid Term Presentation

Today although we did not have class I have worked on my midterm presentation. Although I have given a presentation of my Safe Sip company what I am talking about tomorow is the more about my project and not the company. For example, I have included in my powerpoint the reason why I am doing this project and why I want to pursue this in the future. One of the main reason why I have done this project is because it is a real world project that is being done every day in the business world.

Customer’s Section accomplished

Today in class I finished the Customers section of the website. I targeted customers such as coffee drinker but I also targeted customers for all my future products. Some of the main types of customers include: franchise customers, new parent customers, soup drinkers, home coffee and hot beverage drinkers.

Out of class, I added to some of the other section I needed to do more research on. For example, I researched some of the main competitors for each future product. I still need to find more statistics for the Industry section. However, in the future I am planning to finish the Company section. I am then planning to go back and make sure that for each section that I have completed so far I have answered the probing questions that are located on the side of the website. These questions are used to help you spark details that I would need to include in that particular section. Overall, making progress and am roughly on schedule. Tomorrow I plan to finish the last section of the Overview of Businesses section and then work on my midterm presentation. 

Industry & Competitors

Both inside and outside of class this week I have started the Idea Start up website in writing a business. Now, I have nearly finished the Industry and competitors section however I need to do more research on the exact types of companies. I also need to find more statistics to back up my company. Since my product can fit into many types of industries my list of competitors is very large. Just a small example of this is how because my Safe Sip can go into a coffee cup, thermal mug, bottle, and microwavable soup cup now each of these companies has many competitors and therefore I will also have those competitors.  

Industry

Today both in class and out of class I have been working on my industry paper. Just so everyone can try and get an idea of what The Idea Start Up website looks like is that there are many section which are listed on a previous post. Each section I will write a small paper/large paragraph and their are approximately 12 or so section that I will be working on. So, the first section that I have been working on deals with the idea of an Industry. However, because this is my first section I am have have still not gotten the hand of it so I am hoping to finish the industry in class tomorrow. Also outside of class I have finished my final proposal and have written other others blogs.

Jumping into The Idea Start up

Today, I start working on 1^st part of website which is the industry section. Defined on The Idea Start Up website, an industry is comprised of customers, competitors, and companies that supply and purchase products and services for a closely related need. Overall am looking at the first section of the website which is called overview of the business.

Finishing book

Tuesday I finished my book, Invent Yourself Rich. In this last section of reading it gave a sample confidentiality and Non-Discloser Agreement. I am planning on retyping the sample NDA that is in my book onto a word document and editing to fit my product. Therefore, if I am talking to real investors or manufactures I can guarantee that my idea and product are safe from fraud/being stolen. One of the sources that he used and cited in his resources section is (UIA) or United Inventors Association which offers free articles, information, resources, referrals to local support groups for inventors, and online copies of its newsletter. Also, his website www.inventyourselfrich.com offers videos of some of his products and how he has made them into extreme moneymakers.

“Steering Clear of Invention Scams”

This last chapter talks about different ways that other businesses will try to steal your idea and business/service and leave you without a dime. Now, the most important is to learn how these other companies do that and then avoid them. Here are a few of the main ways that I have already learned to avoid these copycats. The main step to avoiding them is to stay actively involved throughout the entire process from, “designing, prototyping, branding, packaging, manufacturing, and marketing”. Now as soon as you may try to take short cuts for instance paying someone to manufacture your product and not having them sign either a NDA or have your idea patent is where these problems start arising from. Another major way to avoid these scandals is to prevent verbal deals and promises. Making sure to get each progress step and decision written down on paper with a signature can help prevent this. One of the most shocking ways that you personally can get trapped is if they have you sign a Non-Discloser which would make you (the inventor) not able to talk about/ patent your own idea.

Two more important things that I have learned start with the patent. Getting a patent to early can put you in a hole, money wise. Making sure to hold off on a patent until the product can be profitable is very important.  Now one really interesting thing that a few copies where put in the book are called perfect product test. It is a very general test that can tell how “good” your product is by answering 10 questions which each have three option No- 1pt, Uncertain- 2, and Yes- 3pt. Now if this is answered honestly and correctly then this can test will give you an idea on how your product should be pursued. I plan on having 5 people who know my idea answer the question to see what the different answers come out as.