I feel it is getting more and more difficult to give trust to people. Let me explain.


My company is into product developement. Inventing and innovating (consumer) products is what we do. For this we need partners who can deal with design, production and marketing.


Now it looks like everybody want to have money up front before even consider building a trustworthy relation. The apparent lack of willingness to join hands and work together (and take some risk) on a potentially very rewarding project is something that bothers me. Is it just me, or is it a developing trend?


How can I convince people that it takes two to tango?

Replying to [Conceptual minds]:

This world is still beautiful but it is normal human's protective nature by building a defence wall. If you were to put yourself in their shoe, I am sure you will do the same.

In Malaysia, our government encourages innovative and creative individual by providing grant.

The interested individual came out with a proposal for the related authority to study. If they find it a good potential business, they will approve a grant (not loan) for you to kick start. Along the way, they will guide and see how you fair before they proceed with an increment amount until you are firmly standing on your feet. That probably takes about 1 year.

At times, they would propose to buy over your company, or joint venture, or even help you to expand your business by linking you with the big player available. Whatever it is, you still have the final say.

However, should a business fail despite your effort, you have no obligation to pay back a single dime as it is a Grant!

Prince Charles of England established such fund for British citizens many years back. I am sure Netherland also have such facility. Check with your Ministry of Trade or Finance.

Replying to [oldie]:

Hi Oldie,

Thank you for your kind words.
I'm sure the Dutch government has incentives for innovative companies such as Conceptual Minds. As a matter of fact, we walked this way before. Unfortunately it turned out to be a (red tape) disaster and we had to cancel.

You are stating that in Malaysia, your government encourages innovative and creative individuals by providing them a grant.
The way you describe this, makes me kind of jealous on how well they're dealing with innovative companies or individuals. Lets not forget that economic growth is for a large part the result of inventions and innovation!

If you ever know of a potential Malaysian partner who likes to setup a joint venture with my company, just let me know.

Thanks,

Alex

Replying to [Conceptual minds]. Please provide me with more information as I need that to do some 'homework' before linking your project with any Malaysia.

Thank you.

Replying to [Conceptual minds]:Yes, Its there. No matter, how far we go, how bad the situation become to handle, Always honesty, trust, belief will be there. Same is the case with the grief, disloyalty, etc.
The thing is as it is said that prevention is better then cure, everybody wants to be on a safer side.including me and you.

So.

All the Best.

You will get the right partner, just use your due diligence.

Replying to [Conceptual minds]:Don't worry,Although you can't make every one turst you.you can make most trust you. That's enough

Quoting from [Conceptual minds]:


I feel it is getting more and more difficult to give trust to people. Let me explain.



My company is into product developement. Inventing and innovating (consumer) products is what we do. For this we need partners who can deal with design, production and marketing.



Now it looks like everybody want to have money up front before even consider building a trustworthy relation. The apparent lack of willingness to join hands and work together (and take some risk) on a potentially very rewarding project is something that bothers me. Is it just me, or is it a developing trend?



How can I convince people that it takes two to tango?

  

 

I am quite agree with you.however,there is still have some people don't  have the belif that money makes.I think before you trust a people,you have to contact with him or her often and get acquaintanct to him,and then you can trust him.

wish you good luck.the world is not the dark only.i think we still can see sunshine .

Quoting from [oldie]:


Replying to [Conceptual minds]. Please provide me with more information as I need that to do some 'homework' before linking your project with any Malaysia.


Thank you.

Hi Oldie,

I will add you to my contact list in TradeManager, so we can provide you more details about this invention (actually it's an innovation on something everybody knows of).

I don't know if Alibaba allows me to explain it here, but what I can tell you right now, is that it is a consumer / fitness product that burns calories like crazy. Think of 125 Kcal (@75 kilo, during 10 minutes). It is a fairly simple device that can be used indoors and outdoors. We have a very basic prototype here and there is also a big "fun" part to it. People (children too!) love to use it.

As i wrote before, we did received some bids on this project, but we have to go full disclosure and sometimes pay up front before even considering to release functional details about their company. It still takes two to tango for a nice dance!

Thank you for time and perhaps we'll meet some day.

Best regards,

Alex

 

Quoting from [hotcy]:

I am quite agree with you.however,there is still have some people don't  have the belif that money makes.I think before you trust a people,you have to contact with him or her often and get acquaintanct to him,and then you can trust him.

wish you good luck.the world is not the dark only.i think we still can see sunshine .

Hi Hotcy and Anshu and Geffern,

 

Thank you for kind words too. Sometimes it is pretty hard to give trust to people, but it looks like you guys still see a bright spot amidst a relative dark business environment.

 

Actually, you answer my question: "is there still trust left?"  Sure there is. However, as Anshu states about disloyalty; it is there and we continuously need to be vigilant. Business would be so much more fun when we do not have to look over our shoulder all the time.

 

Thanks,

 

Alex

Most manufacturers have a different mind set to product developers/inventors so you need to speak their language. They are simply looking for cash payment for work specified. Especially in China they do not understand co-op deals. Some UK manufacturers look at co-op deals, joint venture partnerships and the like.

Look at the deal you are offering them or willing to accept and see if you would accept the risk if you were in their place.

It depends on what sort of funds/resources you require and whether you are the patent or trade mark holder. If you do not hold a patent or other intellectual property rights don't even start negotiating.

We do co-operative deals all the time the most difficult part is structuring the deal so all parties feel it is fair and do the appropriate amount of work required.
The next hardest is actually selling the product. Making it is actually fairly easy in most business plans.

So do you have a market for the product? Do you have forward contracts? Have you done the market research on the products ie focus groups consumer surveys, product testing etc.

Sorry to be so vague but it really depends on your circumstances and the type of product you are trying to market. A tube of toothpaste is a completely different approach to say consumer electronics or food products.

The real key is to sort out the distribution, marketing and sales before you get the product manufactured.

Hope this helps

Quoting from [Conceptual minds]:


I feel it is getting more and more difficult to give trust to people. Let me explain.



My company is into product developement. Inventing and innovating (consumer) products is what we do. For this we need partners who can deal with design, production and marketing.



Now it looks like everybody want to have money up front before even consider building a trustworthy relation. The apparent lack of willingness to join hands and work together (and take some risk) on a potentially very rewarding project is something that bothers me. Is it just me, or is it a developing trend?



How can I convince people that it takes two to tango?

Trust taking the time to establish, people do not know each other before business would consider about  the risk, and after one or two years when the trust is established between you and your partner, everything would be fine and easy for you to operate, do not jump to the end of the world.