There was a recent topic about starting a company to make yoyos. It has since been deleted at the author’s request. However, there were a couple of excellent posts in that topic regarding the effort involved, the cost and the implications. I’ve reposted those comments here because I feel they are worth repeating and having available.
So you’re sayin there’s a chance
What does that mean?
It’s a line from dumb and dumber. Kids these days…
At first I was like, mhmmm, I see, aright, mhmmm… then I totally lost it when I read the replies.
Disclaimer: I’ll probably get some flack for this but it’s whatever. I see this too often not to address it. Don’t get too hung up on it, it’s just my opinion. I’m not calling people that disagree with me bad folks. This isn’t some sort of subliminal diss to anyone specific.
I wouldn’t go as far to say that starting a yo-yo company is easy, but I’m not going to act like it takes superhuman efforts either. You should be set in the right direction if you research, plan, and develop a brand story.
Why is it that when this topic comes up, people act like it takes a genius of some sort to develop a functioning company? I don’t find anything about what I do exhausting or draining. (Maybe I’m a weirdo) I simply try really hard to do my BEST. It is hard work for sure, I’m not trying to make light of that, but is it really necessary that we constantly discourage people by emphasizing obstacles? ART by some odd tragic occurrence could collapse tomorrow (Just a hypothetical, I’m doing fine) , but at least I gave it a try and followed one of my dreams. Some people will fail, that’s life. I’d rather guide people to act on their passions than act like what they want to do is simply out of reach. I’m glad I kept my ideas to myself for well over a year. Had I asked for advice here, I most likely would’ve been met with the same disparaging responses. Do you really believe that telling people their aspirations are borderline impossible is helpful?
I feel that if you really give something your all, you should be fine. Just be prepared to research whatever your about to delve into and plan accordingly. If you cut corners, you’re just cheating yourself. Don’t rob yourself of your own success.
I don’t think anyone said it took a super human effort or that it was an impossible dream. Dave Geigle and AaronW were just pointing out all the realities of it and things you need to consider before diving in. If a dose of reality discourages someone, then they probably are not cut out for it in the first place.
Have to count the cost with anything you do. So without knowing the realities of something you can not make an informed decision.
I do think LaMonte’s point stands well here, too, though. Whether intentional or not, it DOES come across sometimes that starting a small focused company is a herculean effort. I, for one, am glad to see a measured response from someone who has been there and done that and still says “It’s not THAT hard, guys…”.
"The above may not be true if:
- you are one well recognized Champion in the yo-yo community with a decent knowledge of business and the yo-yo industry
- you are a genius with social media/marketing/branding AND product design - preferably with knowledge of how to run a business.
- you know you can sell lots of your desired products in a local community/school tour/fan base.
- you have more money than you’ll ever need and are looking to spend it on something else than Louis Vuitton and Gucci." - Dave
Is that really the reality we live in? I’m not any of things listed in Dave’s list, but somehow I’m doing fine. Is my reality unrealistic? Is my outlook unrealistic?
I think it’s great that you enjoyed those responses, but those weren’t the only ones I’m addressing. My response to this thread was based on the tone that most “I want to start a company” threads have. 15 consecutive replies about how you will fail is more than a “dose” of reality. It’s unneeded piling on that ends up discouraging the OP…
There are ways to deliver reality based information while also encouraging people to follow their dreams. That’s the only point I was trying to get across. Even in my post I described the task as “hard work” but made sure to point out that it is definitely possible. You don’t have to be a champ, have a degree in marketing, or be filthy rich to be successful in this.
I also instructed people to do the proper research and planning…
You make a perfect point my friend. I think your thoughts and point of view should be added to what Dave Geigle, AaronW, jhb8426, had to offer and the whole thing should be stickied on the forum to help future endeavors.
I think the point people make when they tell you all the trouble you’ll face if you were to start a company, is simply a way of saying that you shouldn’t take it lightly, and that you need certain level of understanding before doing it. I mean your “simple” is not some kid’s “simple”, just because something is obvious for you, doesn’t mean it’s obvious for everyone.
I realized that from experience.
I don’t know exactly who you’re referring to rizki, but I never said anything was simple or obvious. This is going to be my last post in this discussion. (I’ve already made my points clear) I just wanted to set the bar straight on that one quick note.
I think the distinction is between making a large company which you would be running on more of a full-time schedule and a small company which you do more on the side and less as an actual job and main source of income. To start a big yo-yo company, you definitely do need to meet the qualifications stated in the first post. Look at Recess.
Tyler Severance and his dream team of players have popped out of no where. One year ago today, Recess was nothing at all. Today, Recess is the hottest thing next to CLYW. They have the story, the team, the art, everything. They are very successful and keep growing and surprising at every turn. Tyler is a “cool” player and has combined a group of other young and trendy yo-yoers into one big hodgepodge of alluring rebellion and attractive attitude. They know how to follow the trends and the market in and of the yo-yo community and do so in an exquisite fashion. Tyler knows the yo-yo community and it shows.
To make a small company, you need to meet LaMonte’s qualifications. Now, I’m not bashing smaller businesses in any way! I really like ART and have acted as a tester for the new ART yo-yo. You can make a yo-yo company and run it on the side as a fun and even profitable thing without it being the hottest thing since sliced bread. It can be a fun and healthy hobby as long as you know what you are getting yourself into.
It is undoubtedly not something to just jump into. It is a financial investment and whenever there is money involved you should really think through what you are about to do. I think that the original post is really just trying to show the stark facts to company start-up wannabes to try to make them think twice about their probably-spontaneous decision.
Nail on the head. ^
Anyone with money and determination can create a yoyo company, and there’s nothing wrong with that… I’d be lying if I said I haven’t considered it myself just for the bants.
That being said, if you genuinely want to make it big and become the next CLYW/Onedrop/Yoyofactory, then Daves solid advice stands. You need a brand, a vision, and you need to stand out.
As Owen pointed out, Recess is an amazing example of recent success. There are even a few big, well established companies that could learn a few things from Recess, especially in terms of stepping up their social media game (because we all know thats where the customers are, and thats where the money is) and engaging with their customers.
Axis and Luftverk are two other good examples of guys who know what they’re doing.
I couldn’t agree more. I’m glad you posted in here, because I’m most impressed with seeing your vision come to light. Your post is very encouraging to others. Also, I’ve seen the guys at Tropic Spins working hard, and other notable success stories. It was nice to see it all evolve right here on the forum. I’m happy to have my four Shouts in my collection, and my three Shipwrecks and Capricorn too. There are people on here watching young yo-yo entrepreneurs who are totally willing to support those of you who are doing the research, making the effort, and turning out some really good product. I have to admit that I have to be genuinely interested in the product to support it, but when something deserves my support, I’ll definitely support it. There are some people out there who don’t want to discourage others, but would rather help them, and see them succeed.
I don’t even care if people try and fail. You can learn a lot by failing at something, and have a better shot later with more success. If they want to help people avoid pitfalls, that’s okay too, as long as a few words of encouragement are tacked on.
Great post Lamonte!
Impossible, eh? And yet… and yet… look at the new Duncan Grasshopper GTX.
I’d be interested to hear @Dave_Geigle’s take on this today.
Dreaming is great.
Don’t quit your day job.
Well that is a 3 year old post, a lot has happened since then. Chinese manufacturing has gotten bi-metal production down pat. And they can make them really cheap, around $15 the last I knew, may be cheaper now.