Question about business

Hello all,

Take for example an electronic alarm clock.
What do I need to do to set up a company
that will make such clocks, where do I start
on this ? What will the "action plan" look
like?

 

Design one, find out it's to expensive to make, go to China and with a
little bit of redesign they will make it for you.

Willem

 

Buy a few books about setting up a business. www.amazon.com have
loads. Alternatively find a company that can make the product for you and
cheap enough (China).

 

I suspect the question is a home work one. There's hardly any reason
to set upa business to make yet another clock. Why go into construction
when you can import an existing product, or at the very most simply
give the end design to a foreign company who will not only design it,
but build it too.

So realistically, it isn't an electronic question, but one of business.
And if one has no handle on even where to start, they either won't
succeed in business or they are merely doing homework.

Michael

 

Before you consider designing or making anything, be absolutely sure
you know how to sell it. I've seen dozens of companies shipwreck
because all they cared about was the technology, and hadn't a clue as
to how they could market their stuff.

The only thing that matters in the end is selling.

John

 

get liability insurance( more for each employee)
then notify your local and
state government for the business in question and
location of operation if this is to be a business
employing people requiring parking space, shipping
lanes etc..
many towns etc. have to ordain the area in which you
want to operate.
if you work for your self or with your other half with
in your own home and not have employee's on a payroll nor do you
use the land skate ping for your business, have signs, or have a public
office that allows walk in's then most of the time all you need is a
Tax number.
the mail system/UPS/FEDx etc will do your delivery's etc..
you will need to create a name for your self etc..
if you go anywhere to set up for displays make sure you have your
tax number doc with you, if you go out of state to set up most of the
time you must get a tax permit and pay taxes based on what the rate is
there.
some states have a USE tax, that is tax charged to you on items you
collected money for from people out of state or items you purchased for
your business from out of state..

P.S.
you will get quarterly coupon's to use make out estimated tax
payments to uncle sam and your state and possibly local government.

Have fun!
))

 

Absolutely true. This goes for any product. e.g. the most important
member of a band is not the singer, drummer, guitarist or keyboardist.
Its the man that gets the gigs. if you have gigs, you can *always* find
players.

Kevin Aylward

http://www.anasoft.co.uk
SuperSpice, a very affordable Mixed-Mode
Windows Simulator with Schematic Capture,
Waveform Display, FFT's and Filter Design.

"That which is mostly observed, is that which replicates the most"
http://www.anasoft.co.uk/replicators/index.html

"quotes with no meaning, are meaningless" - Kevin Aylward.