If you read my last (first) blog you would realize that my process……from idea to invention took over 23 years to manifest. I also mentioned that the “stars needed to be alligned “ in terms of devoting the necessary time, having the capital , and family support to actually pull the trigger and launch a brand new item. I knew going in, that this was a business for me not just an idea to have someone else license and bring to market.
Think about it, if you are starting any new business…….opening a restaurant or gas station for example would you just work it part time and keep your old job? Not me. I can’t tell you how often during the period of my research and development phase, people would constantly ask me ….so did you keep your FULL TIME JOB ? The conversation would get cut short when I would answer, THIS IS MY FULL TIME JOB.
The PANTREE cookware & lid organizer is an invention that required hundreds of hours of research and development just to support all of the “call outs” and warrenties necessary to substantiate it originality. I literally went to dozens of stores and measured hundreds of pieces of cookware to design the PANTREE to accommodate the sizes and shapes of most of the cookware that people own. That was just one relatively small project necesary to complete before bringing my drawings to my engineer.
When I say my engineer, I mean the engineer that I ended up actually designing the PANTREE. I hired a large engineering firm and spent months of time and money before I determined that this firm was not a good fit for me. I finally found a sole practitioning engineer that I felt totally understood what I wanted to accomplish. I hired him, and maybe a week or two later we had working engineering drawings.
Just like any start-up business, it all begins with a well conceived business plan with a reasonable timeline to achieve one’s goals. My business plan was/is divided into 3 phases, Research & Development (1-2yrs) , Launch ( 3-5 yrs ), Future (5-10yrs ), Exit Strategy (10yrs +) . I began my business in mid 2005 and it took one and a half years to begin marketing PANTREE to the public. AT that point I had inventory to sell here in the U.S. I am now a little over 3 years into my “launch phase” which is consumed with maximizing sales efforts in multiple channels of distribution while designing new product to be released once there is sustainable cash flow.
I am still a one man show, I am my only employee. Of course I hired independent sub contractors in the fields of Marketing, Public relations, Patent Attorneys, Manufacturing, Graphic Design, Web Design & Hosting, Internet Marketing, Engineering etc… but I gotta tell you, Inventing the PANTREE cookware & lid organizer , at least for me is NO PART TIME JOB.
I an Elliot Anker, the owner of Vertical Storage Solutions Inc., the organizer inventor. Please visit my website www.pantree.com