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How Do You Build A Company As The Originator of A Business Idea

by jideofor
4 replies
I have come to terms that one can't do it alone if he hopes to make it big as an entrepreneur in any venture... There has to be others to go with him/her.

But all along, I have done things solo and now I have a idea for a product in the laundry niche. Of course we all wash clothes and we do iron right? That's where my idea comes in.

The idea is to serve a niche in Nigeria where I reside. There is an already dry powder for my idea in the market which is doing excellently well, but I want mine to be liquid such that it comes with fragrance of 5 varieties so that when sprayed, it makes you smell good. For the powder form, one will need to soak into cold water, stir, immerse the clothe into it and then allowed to dry.

While I will like mine to be spray as you press your clothes with awesome smell to go with it.

Another hurdle is that I don't know how to get the recipe for this product.I have no idea. I have searched the web but nothing concrete yet.

So basically, I have an idea but I do not know the recipe to make mine and I would like to build a company out of this but have no idea how a company is created.

Can someone help me here?

Thanks
#build #business #company #idea #originator
  • Profile picture of the author gjabiz
    For very little money,

    How To Make Your Own Spray Starch - One Good Thing by Jillee

    Note the link to essential oils.

    All you need is a little cornstarch, a spray bottle, purified water, and a scent.

    You can play with this formula and create your own scent and a little less cornstarch or more, maybe a couple of different products.

    You start by making a few samples and testing it on your own clothes.

    Then create a few samples of a popular fragrance, like roses for examples.

    Spend TIME and do a cost analysis, for example, what would 10 gallons of purified water cost? How much cornstarch would you need? What would the fragrance cost?

    Maybe start with 5 fragrances to test. Maybe 8 oz in small spray bottles, so you would get 8 bottles per gallon X 10 would give you 80 bottles and with 5 fragrances, 16 bottles of each.

    What would your cost be? Now the cost of a label. And any permits or vendor's license?

    Once you have your costs figured in small test samples, then you estimate in quantities. 55 gallon drum of water?

    Then distribution...how? You say there is a market, how is it being serviced now? Can you get shelf space?

    Your best friend right now is going to be a spreadsheet so you can see what is involved, the costs, the profit potential, market analysis, etc.

    So, today, you have a lot of work to do to determine if you have a good idea or not.

    Then consider IMPORTING an existing product, cause there are lots of these on the market already.

    gjabiz



    Originally Posted by jideofor View Post

    I have come to terms that one can't do it alone if he hopes to make it big as an entrepreneur in any venture... There has to be others to go with him/her.

    But all along, I have done things solo and now I have a idea for a product in the laundry niche. Of course we all wash clothes and we do iron right? That's where my idea comes in.

    The idea is to serve a niche in Nigeria where I reside. There is an already dry powder for my idea in the market which is doing excellently well, but I want mine to be liquid such that it comes with fragrance of 5 varieties so that when sprayed, it makes you smell good. For the powder form, one will need to soak into cold water, stir, immerse the clothe into it and then allowed to dry.

    While I will like mine to be spray as you press your clothes with awesome smell to go with it.

    Another hurdle is that I don't know how to get the recipe for this product.I have no idea. I have searched the web but nothing concrete yet.

    So basically, I have an idea but I do not know the recipe to make mine and I would like to build a company out of this but have no idea how a company is created.

    Can someone help me here?

    Thanks
    {{ DiscussionBoard.errors[10070675].message }}
    • Profile picture of the author jideofor
      Thanks for the link. What we have over here is starch from Cassava. I believe that should serve same purpose as it's generally used.

      Originally Posted by gjabiz View Post

      For very little money,

      How To Make Your Own Spray Starch - One Good Thing by Jillee

      Note the link to essential oils.

      All you need is a little cornstarch, a spray bottle, purified water, and a scent.

      You can play with this formula and create your own scent and a little less cornstarch or more, maybe a couple of different products.

      You start by making a few samples and testing it on your own clothes.

      Then create a few samples of a popular fragrance, like roses for examples.

      Spend TIME and do a cost analysis, for example, what would 10 gallons of purified water cost? How much cornstarch would you need? What would the fragrance cost?

      Maybe start with 5 fragrances to test. Maybe 8 oz in small spray bottles, so you would get 8 bottles per gallon X 10 would give you 80 bottles and with 5 fragrances, 16 bottles of each.

      What would your cost be? Now the cost of a label. And any permits or vendor's license?

      Once you have your costs figured in small test samples, then you estimate in quantities. 55 gallon drum of water?

      Then distribution...how? You say there is a market, how is it being serviced now? Can you get shelf space?

      Your best friend right now is going to be a spreadsheet so you can see what is involved, the costs, the profit potential, market analysis, etc.

      So, today, you have a lot of work to do to determine if you have a good idea or not.

      Then consider IMPORTING an existing product, cause there are lots of these on the market already.

      gjabiz
      {{ DiscussionBoard.errors[10071151].message }}
  • Profile picture of the author bertranddo
    Hey man i dont have an answer as such to your question, but I would just say that you should definitely push it. Africa is a big market, I am myself engaged in creating mobile apps in central africa (gabon).

    To find out the recipe you are looking for, you will need to contact a private lab who can try to reverse engineer the formula you are looking for and come up with a recipe for you. It can be costly but if you want to start a consumer product which is safe for everyone it's probably a must.

    Regarding creating your company, first you need to get incorporated. It's a bit of paperwork and all but I guess as an entrepreneur you should have the mindset that you can do everything life throws at you. All I can say is go full steam ahead, the journey will be incredibly rewarding.

    Best of luck,
    b
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  • Profile picture of the author laurencewins
    I would also suggest NOT divulging all your secrets here. You just never know when somebody may try top steal your idea. Not saying the members are untrustworthy BUT you only need one. Good luck.
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    Cheers, Laurence.
    Writer/Editor/Proofreader.

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