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Proud Mary

Tue Jul 12 2011, 08:19AM

Registered Member #543 Joined: Tue Feb 20 2007, 04:26PM
Location: UK
Posts: 4992

An undergraduate degree is evidence that a person has proved themselves capable of sticking at a dull task for three or four years - a task directed by someone else - and seeing it through to a successful conclusion - in a word, the very qualities employers are looking for.

Bored Chemist

Tue Jul 12 2011, 07:03PM

Registered Member #193 Joined: Fri Feb 17 2006, 07:04AM
Location: sheffield
Posts: 1022

The bit that caught my attention was "I plan on making it as big as heathkit once was".
The trouble is that if Heathkit is no longer that big, why do you think you could be?

Adam Munich

Tue Jul 12 2011, 08:56PM

Registered Member #2893 Joined: Tue Jun 01 2010, 09:25PM
Location: Cali-forn. i. a.
Posts: 2242

I really don't expect it to be as big as heathkit. The thing is though, heatkit didn't adapt to changing markets.

My business will cover these areas:
Electronics Hobbyists (digital and analog),
RC hobbyists and laser freaks, and robot people
Education, kits, fun curriculums, demos and equipment,
Conumer market, have a power tool in mind as well as something else that could be big,
Prototyping services,
Kits,
Industry components,

I'll start with kits and use money made to move into other markets. I also plan on (once I have a good business going) fixing that piece of crap we call radioshack. With a decent business they might actually listen to me. Sparkfun is also not an enemy.

Thomas W

Tue Jul 12 2011, 09:06PM

Registered Member #3324 Joined: Sun Oct 17 2010, 06:57PM
Location:
Posts: 1276

the trick is is to get into a job that you enjoy, im on work exp atm at a machining company, my official times are 8am- 4pm
but i stay from 7am to 6pm cause i enjoy the work so much
everyone so nice :D

Bjørn

Tue Jul 12 2011, 10:09PM

Registered Member #27 Joined: Fri Feb 03 2006, 02:20AM
Location: Hyperborea
Posts: 2058

I remember Heathkit spending a lot of advertising money on a Â£2500 robotic arm that was impossible to sell except to a couple of universities. I hope that Grenadier is not going to copy that suicidal strategy.

I have two problems with that plan...
Firstly it is late. The boom has already started, there are already quite a few webshops that cover some of of it. You have to be cheaper, faster and better to gain any ground. You will need the best website in history, where is that going to come from?
Secondly you should concentrate on what you do well, trying to several different things usually ends up with them all being done badly.

Adam Munich

Wed Jul 13 2011, 11:09AM

Registered Member #2893 Joined: Tue Jun 01 2010, 09:25PM
Location: Cali-forn. i. a.
Posts: 2242

Heh, no. Heathkit pretty much destroyed itself. I know teachers and hobbyists don't have a lot of money to spend, so I'm going to make my products as cheap as possible, while still making a worthwile profit and a quality product. Quality is key to a repeat customer.

I know I missed the boom, but there are still a few voids people have left open. Lucrative voids...

As for concentrating on one thing yes I plan on doing that; but once I've got it working well I'm planning on diversifying.

Mattski

Sat Jul 16 2011, 04:15AM

Registered Member #1792 Joined: Fri Oct 31 2008, 08:12PM
Location: University of California
Posts: 527

Grenadier wrote ...

Heh, no. Heathkit pretty much destroyed itself. I know teachers and hobbyists don't have a lot of money to spend, so I'm going to make my products as cheap as possible, while still making a worthwile profit and a quality product. Quality is key to a repeat customer.

There is the old saying, "you can get something fast, good, or cheap: pick two". Your intentions sound a lot like Sparkfun, so the question is can you do it better, cheaper and faster (pick any) than they can? Though they have focused a lot on microcontrollers, maybe you have a different niche.

What I will say about the school topic is another saying (which I may be paraphrasing): "When you're in high school you think you know everything. When you get your bachelors degree you realize you know nothing. When you get your graduate degree you realize nobody else knows anything either." Just because stupid people go to college and get degrees doesn't mean you wouldn't learn anything. You are a smart guy so you would learn a lot, but with your career choice you might not need the knowledge that you would learn in school.

Tesladownunder

Sat Jul 16 2011, 11:49AM

Registered Member #10 Joined: Thu Feb 02 2006, 09:45AM
Location: Bunbury, Australia
Posts: 1424

My AU$.02 (which is worth more than the US$.02 recently).

I have spent 7 years at uni. 1 year of Physics, 6 years of Medicine. Plus another 6 years to get specialist qualifications while working as an intern/Resident/Registrar. It is hard for me to look past the value of a formal education. But here I am at 54yo with good earnings from working average 80h/wk, with 1-2 wks off per year usually for conferences or accumulated media stuff. I have very limited time for hobbies despite the website and am constantly trying to catch up sleep from late nights. I don't have a car, my house is modest and not paid off.

Could I have done better by focussing on choosing a vibrant growth industry, becoming an expert in it and starting a business in it? A business where a lot of money changes hands - not aimed at other poor people (like hobbyists.) Where you can build up a business and grow by adding employees, not just relying on your skill only.

Could I have been happier with a job with (heavens forbid) only 40h/wk with enormous hobby time?

If you want financial success then you really need to get a business plan and that won't include non-profit. Do the non-profit thing when you can afford it.
For a fast route to reasonable job then a trade apprentice is probably better eg electrician.

I personally would say keep your hobby as a hobby and focus on a job and the qualifications for it. Be it uni or trade or startup business.

I don't like your business plan. It doesn't have winner on it.
Try a SWOT analysis. strengths, weaknesses, opportunities and threats.

Overall, you are pretty smart. I would do the college thing. I am not sure that electronics engineering is teh way to go. Speak to half a dozen engineers first is mandatory before making a choice. You won't want to go back to get a degree later, that almost never works. Keep the $10k as a buffer for a rainy day through college.

quicksilver

Sat Jul 16 2011, 07:12PM

Registered Member #1408 Joined: Fri Mar 21 2008, 03:49PM
Location: Oracle, AZ
Posts: 679

deef wrote ...

Also, in my experience, being able to design a pedestrian SMPS won't make you shine amongst other job candidates who have a degree. Really, unless your SMPS design is something revolutionary, it really probably isn't worth mentioning. Your value, as an employee, is determined by what you (as an individual) can bring to the pack. And, if your skills are in-demand, and rarely found, you can essentially set your price.

While I agree with you on perhaps 90+ % of the points you had made I disagree with the above statement due to certain individual experience.
I had actually worked myself sick for a very large firm who claimed that I had "capped out" and my salary (being set by the corporate entity) could go no higher. I eventually did get ill and had to retire. My performance was exemplary as well as creativity and team involvement - yet my ability to earn went stagnant.
I had similar ideas as the OP when I was an undergrad. I had a powerful desire to create my own company. I remember being discouraged by family members (some very pessimistic ones at that). Of course I'll never know if things would have been different had I acted on my initial ideas; I've often wished I could turn back the clock.

Dr. Who

Sat Jul 16 2011, 10:37PM

Registered Member #326 Joined: Sat Mar 18 2006, 01:12PM
Location: Glasgow, Scotland
Posts: 66

Grenadier, it seems to me that you want to do your own thing rather than go down the usual corporate 9-to-5 route, which is understandable. However it is possible to take the "established" route and enjoy your job. I did a B Eng degree then a PhD in E & EE, and now do electronics research at a Scottish university, and get a lot of enjoyment and satisfaction from my work. I have a lot of freedom in the way I work, including a fair amount of flexibility over working hours.

I ran my own business for a couple of years. I didn't make a fortune, it was really a way to pay the bills when health problems precluded regular work. That said, it was a fantastic learning experience. It taught me a lot about dealing with people, talking and listening to customers, being organised, working on my own initiative and handling finances.

If you do decide to start your business I'd suggest you do it as a sideline, in addition to your day job or college/university course. That way you'll keep the risk low. Keep a really close eye on how much you're spending and how much turnover and profit you're generating. An accounts spreadsheet is essential. Also, take a lot of time to study your competitors such as Sparkfun, Adafruit and Seeed Studio. The latter has the advantage of the Shenzen Special Economic Zone's very low taxes and labour costs, which many companies manufacturing in the West really struggle to compete with. Bear in mind also that Adafruit founder Limor Fried has a masters degree in E & EE from MIT.

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