constructive criticism my business idea

ryduknrvryduknrv Posts: 3subscriber Member

Hello,my name is Ruslan, can I receive constructive criticism from entrepreneurs about my potential business? The business is not IT or high technology, it is related to the production of protein from insects for pet food.  

I live in a village in Ukraine, there are no businessmen or people I can consult with this idea, the Internet gives such an opportunity. Especially in the USA, where the business is especially active, but I am not cool oriented in the groups and communities of US, therefore I asked for help, what disadvantages do you see in this business, do you have a “fresh look” from the side?

p.s I have average English, sorry if there are errors in the text

Comments

  • Greg PeatfieldGreg Peatfield Posts: 2subscriber Member

    Hi Ruslan,

    I would look at the relative cost. Seems like you have a good idea, but for pet food, what is the current cost of the protein content. How will your product compare in price and availability?

  • ryduknrvryduknrv Posts: 3subscriber Member
    edited December 2019

    Hi Greg, thanks for question, I will try to give a brief answer, at the first stage my target audience is fish farms that use fishmeal and which are constantly growing (I'll give you a link below). Depending on the type of insects (i can use several of them in production) and the source of feeding, the price with the same indicators of protein will be at least 30% cheaper per tonne,but since on average there are 10-11 cycles of growing insects per year, the figure is not bad.

     I have noticed several problems with existing companies in the world why, despite good financing, they are not very successful yet, one of the reasons is that they are looking for food for people, but it seems to me that people are mentally not ready to mass eat protein from insects, it’s better to feed them fish and other farms, on an industrial scale.

    p.s the site does not allow to me a link to fish feed prices, you can google



      

  • JohnnyCowboyJohnnyCowboy TexasPosts: 2subscriber Member

    Hello @ryduknrv,

    Thanks for sharing.

    I'm glad to see that you're looking for constructive feedback from the audience...well done.

    I remember when I started my very first business 7 years ago while living out of my car.

    I was creating a mobile apps business and had no clue about business, software, raising capital and a whole host of things.

    Over the last 7 years I've started over 25-30 businesses and most of them have failed.

    Through those failures I've learned some very valuable principles and tactics that can be implemented in any business, because at the end of the day all businesses are more similar than you think.

    And that was the aha moment for me.

    So, with that, I've created a free PDF for any aspiring entrepreneur to have access to.

    It goes over How to Start a Business With Limited Funding, Connections and Resources.

    You can access this free PDF at www dot brokestrapped.com/fo

    I hope it adds value to you and your business.


    Cheers,

    Johnny Cowboy

  • RichardParkerRichardParker Posts: 51subscriber Bronze Level Member

    @ryduknrv

    If there is a decrease in supply of goods and services while demand remains the same, prices tend to rise to a higher equilibrium price and a lower quantity of goods and services. ... However, when demand increases and supply remains the same, the higher demand leads to a higher equilibrium price and vice versa.

  • HeavenGHeavenG Posts: 12subscriber Bronze Level Member

    I like your idea! If everything goes good in the future, then you can create your own ecommerce online store

  • ryduknrvryduknrv Posts: 3subscriber Member

    @HeavenG hi, thanks, I’m at the stage of calculations, but I’m planning to have a global network of organic waste processing plants

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