I intend to expand my E-Commerce business, The Hobbyist Machine Store . It has been in operation selling small machine tools since 2007 and I have enjoyed a small return in profits for the time spent. I decided it is time to take operation up a gear or two and become a more serious player with small CNC hobby type machines. I am not getting any younger and I need to stay with what I know.
I considered manufacturing my own products and accessories and I have built several prototypes. I then realized that the product liability, initial capital investment and cost of a product promotion effort to generate sales of an new unknown brand are far more difficult than I wish to endure at this point in my business career. It is not a fresh new market with no product brand name leaders. I don’t want to figuratively visit the Shark Tank begging for funding with a bad business plan. I have a few accessories that compliment rather than compete with the brand name players.
So if I can’t beat them, there may be an opportunity to join them and turn my experience into value and still work for myself… and swim with the little fishies. Is it safe to go into the water? 🙂