Commercialization/new business

Discussion in 'Starting a Business' started by koken_7, Oct 14, 2013.

  1. koken_7

    koken_7
    uix_expand uix_collapse
    New Member

    Joined:
    Jun 18, 2013
    Messages:
    4
    Likes Received:
    0
    Hi, I might be one of those new start-up entrepreneurs who stuck on which ideas to proceed..

    In my mind, it is whether venture in new research product development or commercialization in;
    1) Green tech - such as solar, LED lighting system, smart home
    2) Safety - smart home, sensor
    3) Industrial equipment - meter,
    4) etc
    5) etc

    Can someone advise me on how to move forward. What should I do? (I'm from electronics engineering background)

    Anyone has a good guess on which area I should put my focus on?

    Anyone know a link/website that inventors share their invention and want someone to commercialize it?
     
  2. TimeRider

    TimeRider
    uix_expand uix_collapse
    Active Member

    Joined:
    Apr 6, 2008
    Messages:
    2,761
    Likes Received:
    416
    koken_7, I would suggest you to go the field you are really skilled at. Why not choose the field where you can much money with your best efforts. You can probably do maintenance of electronics as you are a electronic engineer and you know what to do.
     
    • Like Like x 2
  3. amwarner

    amwarner
    uix_expand uix_collapse
    Member

    Joined:
    Jan 19, 2013
    Messages:
    185
    Likes Received:
    67
    You know, it's always best to go into a business, create a blog/website about something that you're (1) passionate about and (2) have some type of knowledge in. However, the second point isn't all that important because you can still have a passion for it even if you're not knowledgeable.

    Now my best advice would be just to research each of the things you're interested in. Having taken Architecture in school, I know, first hand, how big "green" stuff are. It's huge for the last few years and looks like it'll be constantly growing especially since more and more people are becoming more "do my part to save the world" conscious.


    However, home safety and security is something that EVERYONE has to deal with.

    Like I said, all I could suggest is focus on what you're passionate about. You do have some pretty interesting options but thorough research and finding out how hungry of a market there is for that topic will lead you to your decision.
     
    • Like Like x 2
  4. koken_7

    koken_7
    uix_expand uix_collapse
    New Member

    Joined:
    Jun 18, 2013
    Messages:
    4
    Likes Received:
    0

    devilbatista, amwarner,
    thanks for your suggestion...even though I have experience and skills in electronics (specifically product development, semiconductor operation), and sometimes consultant company called me to answer their clients question (I'm paid USD150/call)..I don't really have very much interest in it..I actually don't know why I'm in electronics eng... and for me, whatever business that can create good income, I'm in (but only in technology base kind of business).

    Since I have interest in technology base (because of its potential income..not specifically my personal interest in certain things) and since there are so many technology base business, I'm stuck.

    I know many entrepreneurs advise to do what we are passionate about...but I'm kind of person who will get things done in whatever I do, perform my best and deliver even though I have no real passion in it. But through writing this, I think most probably develop something that not many people willing to do is what I like the most..

    Thanks guys for opening my eyes.

    1 more question,

    There are a lot opportunities I see in Malaysia (country where I live)..but not many has the same thinking and vision the way I do. So, being greedy (I hope the right word is opportunist) I'm thinking of grabbing as many as I can. Once the foundation of the start-up has been set up, work procedure and SOP has been developed, I just hire group of people to run it while I'm starting up new one. Is this model is going to success or a total failure for new entrepreneur like me? fyi, in my current job, I manage a lot of things with many groups of people (what I'm saying is, I have no problem to handle multitasking, and have management experience)..is my current experience is going to help in my multiple start-up?
     
  5. Changed Creation

    Changed Creation
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Sep 3, 2013
    Messages:
    153
    Likes Received:
    66
    Hi Koken_7
    Welcome to our Forum. I agree with AMWarner and Devilbatista, but hear your confusion with regards to your personal passion and interest. Looking at your current high performance with things you are not even passionate about, imagine what a great business you would be able to develop and love every minute of being involved with, if you could find something to get involved with that really interests you!

    You are in fact facing the dilemma all who have a lot of natural talent face when having to decide a direction. You actually wish someone will tell you what to do, because you know you can get it done, whatever it is. Your problem is loving what you do.

    Technology is found in every industry, every direction you go, so I think you should rather spend a bit of time discovering what your passion is, where your real interest lies. Remember the answer to this is only found in really getting to know yourself. So in a sense it is trial and error. I would therefore recommend that you start by making a good long list of what you don't want in a business. Often we find it easier to say what we don't want than what we do want. When that list is complete, you start a new one, writing the total opposite of what you have just written. You will find that doing this exercise will help you get a bit of clarity on what you really want. Also opportunistic thinking can actually stop you from achieving your goals, so you need a more strategic approach in determining your direction. Its the strategy that you follow that will create value and bring you money, not the opportunity itself.

    It is really difficult to set course if you don't have a target. Send me a PM if you would like more.
     
    • Like Like x 1
  6. koken_7

    koken_7
    uix_expand uix_collapse
    New Member

    Joined:
    Jun 18, 2013
    Messages:
    4
    Likes Received:
    0
    Hi Changed Creation,

    Your advise/description is superb! really describe my situation (which I don't realize it before)..."wish someone tell me what to do"

    I totally agree with you that my approach need to be strategic and your recommendation to make a list of what I don't want in Business sound like a very good approach.

    Now what should I do is, spend more time thinking of business strategy in big picture instead of spending most of the time thinking what product should I develop/jump in

    I'll definitely get back to you if I need more of your wise advise..thanks man!
     

Share This Page