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Hi from Montreal. Please help me by rating my invention

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Hi from Montreal. Please help me by rating my invention

Postby zblip2 » Tue Jun 04, 2019 6:25 pm

Hi everyone, I invented a gizmo for recording drums for which I have a patent.

I am about to invest my savings to produce it. Before taking the plunge, I need to know if you think my product is relevant and if there is a possibility that someone will want to buy it for 99$ US

Thanks for your help and wisdom.

Check out the little video:

https://youtu.be/Q9TSFiBZ7Wg
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Re: Hi from Montreal. Please help me by rating my invention

Postby The Red Bladder » Tue Jun 04, 2019 9:04 pm

1. The retail price of $99 is possibly too high for the long term. If it is a success, Chinese copies will be everywhere, patent or no patent. A patent is only of use if you are prepared to defend it in court. Is it protected in the EU?

2. I assume that $99 inc. retail and wholesale mark-up, both at about 40% net-to-net. That means you are selling at $36 US and manufacturing at $10-$15.

3. In that $99 RRP, is there a marketing budget? Tip - it ain't gonna sell itself!

4. I have never had a problem with snare/HH bleed. i.e. there is a real danger that this may turn out to be a solution looking for a problem to solve!

5. If you are getting these made in China (or indeed anywhere come to that) it is important that the constituent parts are made by different manufacturers who have no idea what the final product is supposed to be. If plastic extrusion parts, metal hardware and packaging all come from one source, you may soon find identical items appearing on eBay at knock-down prices!

Finally, have you looked at licensing your patent and idea to one of the Big Boys? That would be my first inclination before risking the family pension pot on a product that needs another $X00,000 investing for things like magazine advertising, fair stands and sponsorship deals.

On the one hand, it's a neat idea - but on the other, it seems to have a high number of negatives in its wake.

Good luck!
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Re: Hi from Montreal. Please help me by rating my invention

Postby zblip2 » Tue Jun 04, 2019 9:22 pm

Ouch.. Thanks for your answer. I think that what you are saying may be true. Still, I personally have had problems with bleed in a sense that I often had to compromise in the way that I compress and eq the snare in the mix. Throughout the testing phase, engineers and drummers involved all loved it because it opened up possibilities. I view it somewhat as a pop filter for vocals, an insurance policy against bleed.. Yes, i could get ripped off by the chinese and yes it could be a solution looking for a problem... Thank you for your opinion, it balances the other comments I received which were for the most part very positive
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Re: Hi from Montreal. Please help me by rating my invention

Postby The Elf » Tue Jun 04, 2019 10:23 pm

Got to say that this is not a 'problem' I've ever felt the need to 'fix'. Sorry! :beamup:
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Re: Hi from Montreal. Please help me by rating my invention

Postby The Red Bladder » Tue Jun 04, 2019 11:22 pm

zblip2 wrote:Thank you for your opinion, it balances the other comments I received which were for the most part very positive
When I am not running a recording studio and two other businesses, I 'moonlight' as a business consultant and it is my job to 'Speak Truth unto Hope!'

Sorry that I'm being negative, but you need to approach those five points, especially re. costing and price and think about licensing. Someone like Yamaha, Perl or Roland would be able to produce at completely different price-points and have World distribution fixed in place.

It is common for people to be positive and say 'Go for it Dude! It's a great idea!' and the idea is indeed good, but it can only be a good idea at the right price and with distribution and marketing in place.

It might be worth a punt to put up a small stand at NAMM and see if any of the Big Boys bite!
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Re: Hi from Montreal. Please help me by rating my invention

Postby zblip2 » Wed Jun 05, 2019 1:36 am

Thanks for your advice. I will certainly take it in consideration. I decided to delete my video and will close this post. I understand that ultimately it is an act of faith I have to do alone, without encouragement from others. Comments (and lack of) on this forum certainely showed me that it will be a risky and dangerous venture.

Thank you for your honest input
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Re: Hi from Montreal. Please help me by rating my invention

Postby zblip2 » Wed Jun 05, 2019 1:38 am

Sorry everybody, I deleted the video. I decided to think about everything...
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Re: Hi from Montreal. Please help me by rating my invention

Postby Sam Spoons » Wed Jun 05, 2019 10:11 am

Makes sense, I missed seeing the vid but RB's advice, while not always what you want to hear, is usually on the money where business is concerned.
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