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Owned by Mathew

Teaching Superhero

603 members • Free

Experiential learning, games, and simulations. Exclusively for educators and trainers to level up student engagement and personal career success.

businessXP

356 members • Free

Quickly gain the skills of an entrepreneur and confidence of a business leader — by playing realistic simulations and games (or design your own).

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94 contributions to businessXP
What It Really Cost Me to Invent a $30 Toy
A few years ago I invented a plastic toy that makes building Hot Wheels tracks more fun. Occasionally, I get feedback that my TrackJack is too expensive. In fact, the first ever Amazon review I got said it was a clever, useful, and well-made product ... but too expensive — so they gave it 2 stars. The price was $24.99 (currently it's $29.99 and 4.4 ⭐s) Now, you may know that there's not a lot of room between $0 and $25 ... because ... math 😊 Of course I realize that most people are not aware of the costs of bringing a product to market. Some think the inventor pockets the entire selling price. The reality is that we might profit a few dollars per sale if everything goes perfectly well. Here's a list of all the costs to bring my TrackJack from idea to customer. 🟢 PREPARING INVENTORY - Manufacturing (sample, make, assemble) - Packaging (make, ship, assemble) - Barcode Fees - Shipping to Warehouse in USA - Shipping to Warehouse in Canada - Customs Brokerage Fees and Tariffs - Inventory Receiving Fee - Storage Fees (recurring) 🟢 SELLING - Reseller Listing Fee (Amazon, Walmart, Etsy) - Reseller Sales Fee (per order) - Shipping Materials - Order Fulfillment Fee - Shipping to Customer 🟢 BUSINESS OPERATIONS - Refund Risk and Costs - Marketing Costs and Risk - Business Operation Costs - Foreign Exchange Fees - Insurance Costs - Accounting Costs 🟢 INVENTING - Idea & Market Research - 3D Modeling - Prototyping - Testing - Find Manufacturer - Manufacturing Mold (limited lifespan) - Safety Testing - Product Naming - Product Photography - Brand Design (fonts, logos, messaging) - Legal & Trademark - Patent Application - Packaging Sourcing - Packaging Design - Packaging Die 🟢 FOUNDER / INVENTOR - Personal time to manage all of the above - High probability of failure 🟢 PROFIT - If everything goes perfectly well with a product that sells for less than $30, you might make a few dollars per sale. - Then you lose some of that to income taxes.
What It Really Cost Me to Invent a $30 Toy
1 like • 7d
@Shelia Clark Thanks. Thinking about it.
1 like • 6d
@Mikolaj Walczak Here are some suggestions on easier ways to test your idea. Create a PDF Workbook that offers print, build, and play where customers assemble their own components. No physical product for you to worry about. Or create a PDF Workbook on how people can use Legos and then provide an affiliate link where they can buy your recommended Lego sets (and you make money on the sale with a simple link). Perhaps 3D print the components so you can make them at home in low volume. — or sell the 3D models. Spending time with your kids is more important than anything else (my son inspired TrackJack), but having your kids see you pursue your ideas (and maybe help you out too) is a unique role-model opportunity.
Our businessXP community w̶i̶l̶l̶ s̶o̶o̶n̶ b̶e̶ [is now] open to the public
UPDATED: Made public December 8, 2025 3:30PM ET. You’re a member of our community and this is how this change will affect you: - If you have ever posted or commented on something you do not want visible publicly, you may want to delete it now. Act quickly as this is the only notice before the change happens in a few days. - All posts and comments will be visible by anyone who visits the community, even if they are not a member. This includes content under the COMMUNITY, LEADERBOARD, and MEMBERS tabs. Currently, only members can view this content — but that will change when public.  - Content that is visible to non-members may be indexed by search engines, making our community easier to find. That’s all there is to it in terms of your content. Three more notes: - Visitors will have to become members before they can post, comment, or send chat messages (and chat is restricted to members at Level 2). These requirements keep spam to a minimum. - Some of the resources and training under the CLASSROOM tab will be visible to non-members, but most will only be available to members.  - Membership remains free. We are testing the public option to see if our community can help more people. If it works — great. If not, we may go back to being private. BTW, this is a good business lesson — no one knows what really works, experimentation is necessary to optimize. Thanks for going along for the ride. PS: This does not affect our TeachingSuperhero community — that will remain private.
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Our businessXP community w̶i̶l̶l̶ s̶o̶o̶n̶ b̶e̶ [is now] open to the public
Comments | 1-Hour Entrepreneur Video Training
Add your comments to this post if you tried this classroom resource.
0 likes • 17d
@James Raineree Pino Hey, thanks for sharing this amazing summary of your experience 😊
GoVenture World is going offline after November 30, 2025
We are in the process of creating a new version that reimagines the gameplay. As a small team, it’s better that we focus our energy on the new build rather than maintaining the current version. We’ve learned a lot from our player experience with GoVenture World and our other business simulations. And gaming has also changed a lot since we originally imagined the gameplay. It’s time for a refresh. We hope to have a basic version available mid to late 2026. Thanks for playing. When we have an update to share, we will email our past players and post in our community here. If you are an instructor looking to adopt a business simulation in your school or company, check out our experiential learning programs used by thousands of instructors and millions of students at GoVenture.net
GoVenture World is going offline after November 30, 2025
1 like • 19d
@James Raineree Pino We expect to have a free to play version and a paid version.
One of my mistakes was not scaling my marketing
One of the mistakes I made as a young entrepreneur (a looonnng time ago) was not realizing how scalable marketing needs to be. As an engineer, my operations were designed to be efficient and scalable. I would exhibit at various tradeshows and efficiently gather a few hundred leads and follow-up with them. Some would convert to customers, but most would not. Eventually, I realized that the tradeshow route was not adding enough leads to the "top of the funnel" as it's called. And you need a lot of leads in that funnel since only a small percentage will ever convert to customers — this is typical for most businesses. So I switched it up and started doing direct mail and email marketing, where we could reach thousands of people in a short period of time. Think about this for your own business because sales is a volume game for most businesses. Here is how to do the math: (1) How many of your leads convert to customers? For most businesses, it is well under 10%. Example of a 5% conversion: 100 leads convert to 5 customers. (2) How much money does the average customer pay you? Let's say it's $500. (3) Using the above numbers, to generate $50,000 in revenue requires 100 customers which requires 2,000 leads. Giddy up!
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One of my mistakes was not scaling my marketing
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Mathew Georghiou
5
285points to level up
@mathewgeorghiou
I create games & simulations that help you gain business skills & confidence super fast. Bio— entrepreneur, engineer, inventor, writer— Georghiou.com

Active 8h ago
Joined Jan 26, 2024
INTJ
Canada
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