25A
In terms of whats next the ideal situation would be creating a functional protoype. Once I have a prototype I could refine it until I have a product that I want to do some initial testing on. At the start I would give it to a couple local places for a super cheap price, maybe $100. I would then have them provide me feedback about what they liked and what they didn’t like. I would also be able to find out any weak points and see what broke during the year. I would then redesign my product and do more testing. After that I think I would be ready to bring it to the market and have it available for everyone to purchase.
An entirely new market that I could try and target would be the farming industry. At the moment the machines for harvesting are already huge. But I believe my technology would allow them to expand even further in their size and the speed at which they can plant and harvest crops. The season for harvest and planting are short, so a small efficiency gain would translate to a huge boost in profits. Speed is especially important in farming, so this would potentially be a huge boost for the industry.
It could also apply to the auto industry as a way of detaching accessories from the engine when they are not needed, such as the compressor. This would give the engines a small boost in efficiency resulting in higher MPG.
An entirely new market that I could try and target would be the farming industry. At the moment the machines for harvesting are already huge. But I believe my technology would allow them to expand even further in their size and the speed at which they can plant and harvest crops. The season for harvest and planting are short, so a small efficiency gain would translate to a huge boost in profits. Speed is especially important in farming, so this would potentially be a huge boost for the industry.
It could also apply to the auto industry as a way of detaching accessories from the engine when they are not needed, such as the compressor. This would give the engines a small boost in efficiency resulting in higher MPG.
You definitely have a few ideas of where to go next with your company that is great. I am just wondering how this would be different from a regular PTO? I may have missed some of your post since I was commenting on others as well. Would it be like an automatic type PTO that disconnected auxiliary parts in the car? That is a very interesting idea.
ReplyDeleteHi Brandon.
ReplyDeleteFor this assignment we were supposed to interview five people- three that represent the existing market for our concept, and two that represent the new market. Did you do this? I don’t see these interviews reflected in your post if you did.
I don’t think that other companies are going to pay you for your prototype. It would be a better idea to provide those companies with free machines to test. You could let the companies borrow your prototype, and get it back from them later. This is especially true if there is any possibility of the prototypes breaking during use- no one wants to pay for something that is likely to break!
Testing your prototypes and getting honest feedback is always a good idea. The feedback will help you improve your product. Testing is not a revenue source, however- it is a research and development requirement. You should put test materials into your budget and not try to make any money from them.