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Home arrow News arrow Positioning and Planning arrow 6/17/2006, Day 2: Positioning and Planning
6/17/2006, Day 2: Positioning and Planning PDF Print E-mail
Written by Remi Frazier   
Thursday, 22 June 2006


Positioning reports are posted daily. As much information as possible will be digested into a general qualitative summary about the state of the Million Dollar Destiny project, both filmworks and business efforts. Be advised that some business aspects may be discussed only in general terms to provide safety for their intellectual property rights, to preserve the sanctity of ongoing business negotiations, or to allow individuals or organizations anonymity.



BUSINESS OVERVIEW
The business process is progressing very well at this point, despite having minimal computer/net access until late in the day. Having longer access to technology resources will make Day 3 very productive.

The very general version of the project's business plans is as follows:

In my brainstorming session at the beginning of Day 1, I determined that the most effective way to build a million-dollar business in one month with no capital will be through a new approach to creating, marketing and selling an existing type of product. This provides two routes to success: Currently existing markets provide an immediate consumer base to purchase the product, and currently operating competitors provide an immediate corporate base to purchase my business entirely. This concept in hand, I identified the following criteria for a new gadget:

- Must have the potential (no matter how difficult) to be set up for production in about 10 days
- Needs the capacity to sell enough units in 20 days to meet or exceed the one million dollar mark
- Will exist and excel in an already-existing market
- Competes against at least three flagship products manufactured by corporations with yearly sales in the $100M /- $20M range
- May be possible to design without patent infringement
- Carries an "Ah-hah!" or an "Ohhhh...duh!" factor.

I have since identified a product concept that meets all of these criteria. The most critical element to initially support this product will be its website; in order to seek an initial round of funding for the production line, I need to have a business plan and marketing approach put together, and for this particular product, the website will be as valuable as a prototype. I've contacted several graphic artists, web designers and developers in my network, and it looks like we will have a brand and logo by Day 4 and a final website by Day 6.

While that part of the team is working on the website, I'll be mostly free to start to network into investment groups and manufacturers on Days 4, 5 and 6. I'll also need to find patent lawyers, industrial designers, business advisors and manufacturing specialists, none of whom exist within my current network. Day 3 will be spent finishing and formalizing my business proposals and product overviews, as well as completing a general proposal for corporate sponsorship of the Million Dollar Destiny project.



FILMWORKS OVERVIEW
Some general and stock video footage was taken throughout the day, but no interviews were conducted or scheduled. Interviews will start on Day 3. Offline data and a conversion workstation or additional HD MiniDV tapes and minidiscs need to be acquired by Monday.



Last Updated ( Saturday, 24 June 2006 )
 
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