21 year old pleb here, want to become an entrepreneur. I was

>>1399517

So you're idea is that you're going to study the way medical devices are made and then improve on that by creating your own manufacturing plant where you make slightly better versions of other products? And you just have a hunch that your going to see some inefficiency in the manufacturing process that nobody else is trying to fix and make profit off of it? You have enough money to do this?

Dude, if your market niche is medical devices, then take your money, use it to buy medical devices from manufacturers and then sell them at a profit. Do this first and see if you can even sell any. See if it even works before you go through the trouble of designing and manufacturing your own and sinking hundreds of thousands of dollars on it.

You might think, "well selling is the easy part, designing is the hard part, people who just sell must not make very much money" and you would be wrong. Selling is a fucking hard business to run on it's own.

My point is that there is other ways to make money than by coming up with the latest sexy innovative high-concept facebook.

>>1399580
why would anyone buy the same product from me for more money when i'm just buying it from the manufacturer and not adding any value?

>>1399580
specifically my idea is taking existing products and making them cheap so they can be sold in developing countries. for example, an EEG can cost in the tens of thousands of dollars, but really all it is is an amplifier hooked up to a bunch of electrodes, so theres no real reason it should cost that much. What i want to do is look at every stage of the manufacturing process and see where i can get away with cutting corners.

>>1399586
because without you the customer would not know what/how/why/ect they are buying the product
and without demand the supplier goes broke, and stops supplying that product in the first place

>>1399593
ok so where do i get this sales expertise? "just do it"?

>>1399586
You are adding value. This is exactly how virtually every store you have ever went to makes their money.

Sure you get them for $5 a piece, but you have to buy in orders of 5,000. Most people do not want to buy 5,000 of something just to save a few dollars each. The reason 5,000 items cost less per piece than 1 item is due to the laws of supply and demand.

>>1399592
And if you don't see any way to bring down the cost?

>>1399600
doing the research won't cost me anything
what i'm asking is, where do i go to find this stuff out?

>>1399604
No, I'm saying if you do the research, study the manufacturing process, and then if you can't find a way to make it cheaper, then what are you going to do?

What happens if you find a way to make it cheaper, but the starting costs are millions and millions of dollars?

>>1399608
repeat with other medical device until i find one that works or come up with a better idea i guess, whats your point?

>>1399611
My point is that you are trying to do predatory pricing against guys that have a lot deeper pockets than you. They have bigger R&D departments than you and millions to spend and if anyone found a way to cut costs that would be the holy grail for their company.

The larger companies benefit from an economy of scale, giving them even more of an edge on anyone smaller than them. When Walmart started out their main selling point wasn't cheap prices, but it is now that they are a 300 billion dollar company they can actually afford it. There are more ways to make money than just making something cheaper. Making something cheaper is the most obvious business idea ever so these big companies have already thought of it.

>>1399611

I'm not trying to say your idea is stupid or anything.

If you think there is a better way to make EEGs I say definitely look into it. Get in contact with someone that can get you in contact with someone who can help you. I say sell your discovery to an already established company and use the money to fund your next project.