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what's going on guys back for an update on last week's video when I met with the
first manufacturer and was scheduled to meet with the second one so we will
start with the first manufacturer we had our follow-up call talked on the phone
for maybe about 10 or 15 minutes they gave me a brief overview of what the process
would entail from here talked about the time that would be necessary as well as
the cost structure mentioned that I would be basically driving the ship
giving them some direction on which way I wanted to go as we went through the
process it was a very easy conversation very straightforward to the point
guy was very personable I did explain to him that I had one more meeting with a
second manufacturer that was going to be occurring excuse me
that would be occurring the day after we actually spoke and that I would be
taking them through the same process that I took his company through so to
give you guys some particulars on what the first manufacturer told me they
mentioned that the timeframe that would be involved would be somewhere between
47 and 62 hours and obviously that couldn't be dictated as far as months or
weeks or whatever the case is because since I was be driving the ship I'm sure
there would be some flexibility with when we were meeting when I would come
to the facility conversations email phone things of that nature and then the
cost structure that was applied to that I do want to share that with you guys
because of course you want to kind of get an idea if you are in this process
how much this stuff is gonna cost you going through the patent process going
through the manufacturer and for this particular company that 47 to 62 hours
worth of time that would be involved was given me an estimate of between like
eighty two hundred dollars and I think it was a just under eleven thousand
dollars so that is what that first manufacturer gave me as far as an estimate
for the proposal to take my prototype of my proof proof of concept POC to a MVP
or Minimum Viable Product so going to the next manufacturer like I said I met
with them the day after I actually talked to the manufacturer number one on
the phone and because we had already signed an NDA we had met generally
prior to our meeting this time they had a good indication of what I was looking
to do at least from a process standpoint where I was in the process we hadn't
spoke specifically because the NDA hadn't been signed at that time but
since that very first meeting with them generally until our official meeting we
had an NDA signed so now I could go in and give them some specifics so I went
down sat with manufacturer number two did the same thing I did with
manufacture number one we explained to them where I was in the process as far
as the patent had been pending at this point which it wasn't the first time we
met and letting them know that I had already proved the concept in the
marketplace and now it was time to get some information on making it an MVP
they looked at the product gave me some very good information very similar to
the first manufacturer and because we had already had a relationship and it
was actually a referral from somebody I already knew they went ahead and gave me
some information right there on the spot now I will say that their estimate came
in a lot lower than the first manufacturer and that could be due to
the fact that it was a referral that I know some of the same people they know
but either way I decided to go ahead and make a decision and proceed with
manufacturer number two went ahead and gave them all the specs that they needed
gave them photos videos of the product in action
the individual that I was speaking with had a mechanical engineer on a team that he
already had in mind to start working on the project so I went ahead and began my
interaction with manufacturer number two so I want to give you guys an update on
that let you know kind of how we are as far as not pitting the two
manufacturers against each other but really just doing my due diligence and
making sure that I was getting something to compare one against the other of
course this was not a realm that I had been in previously so wouldn't make much
sense for me or anybody else to just take the first quote then estimate
that you get without bouncing it off another one so that's the latest update
love to hear what you guys have been up to if you need any resources have any
questions for me regarding any specific manufacturers or maybe where you are in
the process and how you get to your next step just leave those in the comments
below I'll be more than happy to leave you some information give you some
resources and share with you as much as I can congratulations on taking the
first step if you have already and if you have not go ahead and take that
first step just start putting your process together start putting your idea
on paper and getting things together so that other people can benefit from the
great ideas that you have look forward to talking to you and sharing with you
on the next time and in the meantime let's continue to talk black business
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