06-18-2008, 11:45 AM
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BARCLONE Rocketry
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Join Date: Mar 2005
Location: Mobile, Alabama
Posts: 5,357
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Quote:
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Originally Posted by Rocket Doctor
I am curious, if you were to start your own model rocket company, what would you do? Who would be on your board of directors ? Who would be your department heads?
In today marketplace, in what direction would you take your new company.
Keeping in mind, this has nothing to do with any past or present companies, this is a totally new company, of your own, in the 21st century.
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None of the above, actually. The first course of action is to seek out a niche within a given market, where there is a measure of demand but no one filling that demand. Figure out what is required to fill that need. Determine what portion(s) you can easily handle, as well as what you still need to "farm out". Seek out suppliers and pricing schedules for a "ballpark figure" on regular per-unit costs. Also seek out whatever capital equipment you will need to produce any special parts to get your "one-time" investments. Add into this mix the costs for legal work, accounting, shipping, advertising, and "contengency funds" (having enough money in reserve to cover the first months of operation, before you start to see real sales). Now you can start working out your "business plan" to take to the bank (or other SBA lender). There may be additional things that are needed before you can get funding.
Listen to the lender for any suggestions to smooth out the process, and to avoid the pitfalls that other would-be SBOs have fallen into...
The first big mistake is in trying to fill too many niches at one time. The second big mistake is trying to become a big business before you become a small business. |