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Physical product or IM

by Ryan Johnson
9 replies
Let's just say that you have the same startup capital for each-

Would you rather be involved in a brick and mortar physical product startup or in a large IM project?

Similar physical product exists, but their mousetrap is not advertised and would be referred to as a rodentsnare. Market is nearly 100% of the earth's population.

IM project would involve half the amount of people and stress, and the chance of success would probably be 25%
#physical #product
  • Profile picture of the author Mike Hlatky
    25% of success for the IM project.

    95% of small businesses fail within 5 years.

    34.24% of all statistics are made up on the spot.

    I'm keeping my money in my pocket.
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    • Profile picture of the author Giftys
      Originally Posted by Mike Hlatky View Post

      25% of success for the IM project.

      95% of small businesses fail within 5 years.
      And 50% of all statistics are wrong.
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    • Profile picture of the author Robert Colle
      Originally Posted by Mike Hlatky View Post

      25% of success for the IM project.

      95% of small businesses fail within 5 years.

      34.24% of all statistics are made up on the spot.

      I'm keeping my money in my pocket.

      Completely agree with this statement.

      But if I must invest or buy something I will definitely go for a physical product. And don't ask me why.
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  • Profile picture of the author Doug Slaton
    Typically when I look at opportunities I try to find ways they can be quickly and cheaply tested.

    For a physical product more times than not taking a product to a fair, festival or trade show of some sort is a great way to check out demand.

    Similarly for an Internet product, put up a basic webpage with an order button and drive some traffic to the page and see how you do.

    It's usually not to hard to test ideas, it just becomes more challenging when it's time for the full rollout.
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  • Profile picture of the author Hogan Chua
    IM, lower capital and more freedom
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    • Profile picture of the author inlecture
      My vote goes to IM for the simple reason that if done right things can run on auto pilot and you can than turn yor attention towards yor next project while with physical product yo need to be in charge of EVRYTHING. Shipping, receiving, cancellations, returns, angry/grumpy customers far more often than with IM
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  • Profile picture of the author ShawnPeter
    Physical Product: Manufacturing Cost, Distribution Cost, Warehousing Cost & Retailing Cost & sometimes Delivery cost. (basically you need to pay for moving your product from 1 shelf to another)

    IM products: Guru cost. (And you really need to find a TRUE mentor.

    Cheers!
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  • Profile picture of the author paulie888
    If I had to choose between the two (given your parameters), I think I'd go with the physical product, as it'd be pretty much a sure thing with the target market being nearly 100% of the world's population, and the fact that competition would be non-existent!
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  • Profile picture of the author ConnorMcCreesh
    Personally (and i may be a little biased) but i think online products are a great way to go. As more and more people start to integrate the Internet into their lives they start to realise that if they just Google something they want information on, they can generally download it.

    Online products remove the limitations of stock and delivery which is a massive cost cutter. Also there is the automated aspect of online products so you can set it up and let it bring cash in.

    Now some people are not comfortable with the whole online product idea, but that can be your opportunity to branch out offline. Markets like Amazon (not including kindle) and eBay are offline products.
    So what should you do?
    Find a company that will transfer your online product to a physical one, there are many out there just Google them.

    There are companies that will allow you to automatically burn your product onto a CD and send it out, so there you have broken on to eBay.
    Also companies that will print out your product as a paper back, and bang you are into Amazon.



    So sorry to anyone if i seem like i am over biased with my argument haha, but i just feel that online products open up much more prospects to people. You do not need any skills or know how to make and sell one successfully, just a little grit and determination.

    Kind Regards People,
    Hope this has helped!
    Connor
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