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Question about business

Discussion in 'Electronic Basics' started by fred, Feb 12, 2004.

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  1. fred

    fred Guest

    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
  2. Willem

    Willem Guest

    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.

  3. Buy a few books about setting up a business. have
    loads. Alternatively find a company that can make the product for you and
    cheap enough (China).
  4. 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.

  5. John Larkin

    John Larkin Guest

    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.

  6. Jamie

    Jamie Guest

    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
    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..

    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!
  7. 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

    Kevin Aylward
    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"

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