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So many ideas, how to choose?
ZeekOSU
subscriber Posts: 2
Hey there! I first wanted to send out a huge thanks to the developers of this website, because it is such an awesome tool to have available. It`s nice to see other entrepreneurs sharing ideas, working through problems, and ultimately achieving their goals. I`ve been reading articles on this site for a while and it helps motivate me to work on some of my own ideas.
However, I`m posting here because I`m just starting out in the world of entrepreneurs and am looking for advice on how to choose a direction. I`m 27 years old, an aerospace engineer, and have a problem because my mind is constantly going 24/7 and I`m always trying to think of ways to improve products and processes (that`s pretty much what my job is). This has flowed over into my personal life and I constantly see business ideas that I`d like to work on and I have a list of at least 40. I`m hoping I can learn from someone else out there that might have had the same problem in the past. I have so many ideas I`m passionate about, but I become stuck when trying to make a decision on what direction to take. Does anyone have any advice or words of wisdom on how to properly evaluate your options?
One of the ideas I`m pretty passionate about is a process for treating metallic objects and extending their wear resistance and longevity. The process has been around for a little while, originally starting in the 60`s/70`s but developed a bad reputation because a lot of mom and pop shops started to open up offering this process and ended up ruining a lot of parts. Since then, the technology has become very reliable and there are some manufacturers out there that are starting to see the benefits, but 90% of companies that would benefit from this process are still skeptical. Most small mom/pop shops that offer this service as a business don`t have much data to back up the proposed benefits and most of the employees do not have a metallurgical background. Most of these companies will advertise with local machine shops and other industrial businesses claiming that their process will extend the life of their tools, which it does. However, I see a lot more potential for this technology in the way of medical products. Quite a bit of money is spent on resharpening medical instruments and replacing them. Health care costs are going up, local hospitals are trying to save money and stay afloat. Offering products that have at least a 200-300% increase in life would hopefully be of some help to reduce costs for them. The best part about this process is that it is extremely cheap and environmentally friendly. I have friends and family involved in the medical industry and medical instrument companies charge quite a bit for seemingly simple instruments. Offering metallic medical instruments at the same or even lower cost than current suppliers would not be difficult due to the process. The process would only add pennies to the final cost. The manufacturing of the instruments would be the difficult part.
I have no experience in the medical instrument mfg industry, but I do have knowledge and experience regarding metallurgy and this process. How does one take on an industry that they have no prior experience in?
ThanksZeekOSU8/3/2009 11:43 PM
However, I`m posting here because I`m just starting out in the world of entrepreneurs and am looking for advice on how to choose a direction. I`m 27 years old, an aerospace engineer, and have a problem because my mind is constantly going 24/7 and I`m always trying to think of ways to improve products and processes (that`s pretty much what my job is). This has flowed over into my personal life and I constantly see business ideas that I`d like to work on and I have a list of at least 40. I`m hoping I can learn from someone else out there that might have had the same problem in the past. I have so many ideas I`m passionate about, but I become stuck when trying to make a decision on what direction to take. Does anyone have any advice or words of wisdom on how to properly evaluate your options?
One of the ideas I`m pretty passionate about is a process for treating metallic objects and extending their wear resistance and longevity. The process has been around for a little while, originally starting in the 60`s/70`s but developed a bad reputation because a lot of mom and pop shops started to open up offering this process and ended up ruining a lot of parts. Since then, the technology has become very reliable and there are some manufacturers out there that are starting to see the benefits, but 90% of companies that would benefit from this process are still skeptical. Most small mom/pop shops that offer this service as a business don`t have much data to back up the proposed benefits and most of the employees do not have a metallurgical background. Most of these companies will advertise with local machine shops and other industrial businesses claiming that their process will extend the life of their tools, which it does. However, I see a lot more potential for this technology in the way of medical products. Quite a bit of money is spent on resharpening medical instruments and replacing them. Health care costs are going up, local hospitals are trying to save money and stay afloat. Offering products that have at least a 200-300% increase in life would hopefully be of some help to reduce costs for them. The best part about this process is that it is extremely cheap and environmentally friendly. I have friends and family involved in the medical industry and medical instrument companies charge quite a bit for seemingly simple instruments. Offering metallic medical instruments at the same or even lower cost than current suppliers would not be difficult due to the process. The process would only add pennies to the final cost. The manufacturing of the instruments would be the difficult part.
I have no experience in the medical instrument mfg industry, but I do have knowledge and experience regarding metallurgy and this process. How does one take on an industry that they have no prior experience in?
ThanksZeekOSU8/3/2009 11:43 PM
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Comments
Thanks again for the advice... I`ll be speaking to my doctor about that.
Adam