My Binary watch project is nothing new I wanted a watch and as usual my taste thickness of my wallet does not match. At the time of creation there is a big hype of smart watches costing thousands of dollars. I wanted to simplify and reduce the distractions we subject our self to. Therefore I created a non invasive, single purpose device that hopefully creates some curiosity and inspiration to look at ordinary things in different ways.
To start with the code will be shared on Github and the design files are available on the Fab academy file server.
I really like the Fab Lab license. It is short, simple and written so everyone can under stand. How ever for this project I choose the MIT license. They are quiet similar but If I where to create some form of business from this project the MIT license have a bit more weight to it. The two main parts of the license is:
As for patents and trademarks I conciser it a waist of time and money. I feel quite strongly that knowledge should be free.
To start my own business from my Fab academy project would definitely be a cultural choice for me. The possibility to choose what you work with and how to structure your time sounds like music to my ears after 12 years of employment. Working is such a big part of our life that it should be enjoyed, at least for the most parts.
OK this is where I go crazy and dream big.
I think it is important to create a brand that people want to be part off. Feel that they are contributing and also benefit from it in some way. To empower the individual by co-creation and knowledge sharing... So, to put some practical applications behind theses fancy words.
Coming back to earth and taking the first step towards funding this mad-venture I would...
I would start out with Crowd sourcing on Kickstarter. Mainly as a market research From there I would start looking for an incubator or investors.
Profit vs. non profit: Now when I have learned that non profit does not mean you work for free, I would definitely choose that. Having the money coming back in to the company makes much more sense to me... although not sure how investors looks at non profit!?
For starting a company I would look for partners Not to keen on the idea working alone in a basement. A note on expansion though, is that I would keep the size of the company to around 10 persons. Something happens to the structure and company culture when a company grows over 10 persons.
As with spiral development it is important to be flexible with your business plan, face the facts of that is working and what is not, and do a pivot from there... this is obviously easier said then done.
Reality check: Is this a sustainable business? No not really.