Patent research

I spent most of the day researching both Australian and international patents for anything close to my products. It’s exhausting especially since I’m not an expert in “legal-ese” or product design. There doesn’t appear to be any active ones in Australia which is good. It’s hard to know for sure for the other countries though. As much as I want to consider everything while finalising these designs, I can only spend so much time and money on this now. I’ll have to revisit once the products are proven here, and I’m more serious about exporting.

Today, I also had a good chat with Manufacturer #3 which took forever to organise with them. I have a phone call with Manufacturer #4 (referral from a friend) tomorrow. I want to have a competitive process for selecting my manufacturer to ensure I get the best price and engineering team on board. This is especially important since I’m looking for a long term relationship with them, and the cost of stuffing up a design could cost me 5-figures for a new mould.

Pitch to business accelerator

Gave a business pitch to a bunch of mentors and investors at a local business accelerator. It was a really good experience, and it validated my business concept. The question now – what support do I need from them? Honestly, I’m not sure yet, though I know that I will eventually need some investor support.

1 minute pitch

Attended a product development workshop all day. At the end, I had to do a 1 minute pitch for my business with no slides. One minute isn’t a lot of time! Good practice though, and people are still positively validating my product idea.

It’s a go!

Received back 43 market surveys within 3 hours of it being posted on that Facebook group’s page – almost all very positively in favour of my product idea (#1), and just as many were willing to test my prototype. They also brought up a need for a Product #3 in the survey results. How can I not do this if so many people are looking (and in some cases begging) for these types of solutions?

Bought the business and product domains that I think I’ll need. I’m into this business with both feet now. I feel certain that I can help both people and the environment now.