Getting the demo video right is more important than ever.  Every inventor needs to be skilled at VIDEO EDITING and PROTOTYPE MAKING.

In “As Seen On TV” category of DRTV, we often use the inventors original video for the initial survey phase of testing.  With smartphone technology and video editing so accessible, learning to make a demo video is a basic skill every inventor needs to have.

“A Picture Is Worth A Thousand Words but a Demo Video Is Worth a Million Dollars.”

Carrie Jeske

I’ve included a script writing template at the end of this blog.

Making The Demo Video

1. Decide Audience based on Prototype Quality? Are you pitching to our team or our you pitching to potential customers?   If you prototype looks good, pitch as you would to real customers.  If not, you’ll need to pitch to our group and focus heavily on the problem you’re solving
2. Keep It Short. 60 seconds or less is idea for our survey test phase. Visual Demo works best. If you go to 2-min scripts are no more than 300 words with Product Problem/Solution repeating so use most compelling language
3. What’s Your Problem? ASOTV products have a clearly understood PROBLEM / SOLUTION pitch.   Often problems are shown in B/W for dramatic effect.   While that level of production is not necessary for the initial demo video, showing and telling the PROBLEM/SOLUTION is.
4. The Product is the Star – Show close ups of the product more than your own self so we can see what we’re buying. Show or explain examples of the Features of your product providing Benefits to the consumer.   Add a Wow Factor.
5. Editing & Voice Over. If you can shoot the visual then do a voice over of the whole video, that tends to get more responses from consumers. If not and you need to pitch in a one take smartphone format, then speak clearly and show close ups of the actual product more than your own self.
6. “WOW” Factor. Outrageous Demos & Amazing Visuals, Unique Materials.   Flashlights strong enough to be ran over by a Mac truck.   Tape that can reseal boat bottom cutouts.  Magic materials that have amazing & unique benefits.  These are the secrets of As Seen On TV.    Get creative with it, when appropriate.

Product Names. The product name will be tested at the end of the process but creativity up front is important.   Names that Explain Function are best.   Two Consonant names tend to roll better such a Magic Mesh, Windshield Wonder, Jupiter Jack.

Hosting or Posting the Demo Video

Do not send a large video file to licensee’s.  Companies don’t want their email systems bogged down by large files.   Instead, host the video on the cloud.  There are many options from Dropbox, Google Drive to YouTube Unlisted.  Learn to upload your demo video then COPY the link and PASTE it into your email.

Submitting Your Demo Video

1. Always put the PRODUCT NAME in the Subject line so feedback can be easily tracked or searched.
2. Include a simple link to the demo video or attach a pdf sell sheet along with a SHORT note.

EXAMPLE EMAIL:   Dear George, please take a quick look at this new “patented” product and let me know if you company is interested in discussing licensing or acquisition.

ADD LINK to “Unlisted” YouTube Video

Any feedback you have regarding your interest or experience with these kinds of products is appreciated.

I look forward to your response.

DO NOT SEND DUPLICATE EMAILS & WEBSITE SUBMISSIONS.

DO NOT SEND MANY EMAILS ABOUT THE SAME PRODUCT.

DO ALSO SUBMIT ONLINE IF THEY OFFER THE OPTION.

Waiting For A Response

See another blog about this topic.  It’s important!

Pitch Demo Video Script Template 

Production Notes:

Time Voice Over Audio Portion so the entire spot is no more than 2 minutes and preferably 1 minute with a 30 second action demo edit scene available for social networking interest.

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In the As Seen on TV category, an inventor can clear 2-4 million dollars in royalties.  In every other category, that number is significantly less. Don’t be caught in an unrealistic dream.

Let’s talk money outside of TV, if you license your product outside of TV.   That’s different then the “Make and Sell It” strategy for money making.

That’s a whole different game. If you “make” or manufacture the product then sell it and make profit on the manufacturing whole sale price less cost of goods and operational expenses.  If you license a product outside of TV you’re gonna get a higher royalty rate but may make less in the long run.

In ASOTV, royalty rates are 1% to 5% because volumes are huge.  Outside of TV you might be able to get 5% to 7%.

Maybe you get 10% if you’re lucky but that’s still gonna be a lot less cash since the sales volumes are lower. In the licensing agreements I do the things that are not TV average $20,000 to $40,000 per year in royalties.

A medium-sized deal might be $50,000. $90,000 is much better but $50,000 is more common.  For example, a 5% royalty would make about $50,000 a year at 1 million dollars in sales. That’s doable. That’s a good realistic goal.

$150,000 to $200,000 a year is more unusual. They absolutely happen, but they’re not the norm. That’s why it’s good to have a mix of singles doubles and triple successes.

Especially if you can get more of them.

Still, the As Seen On TV winners are where the big money is and the upside and the costs are lower for the inventor.

Whatever category you’re in, I think it’s best to keep costs low.  Inventing is a gamble of time and money.  Choose wisely.

Subscribe to my YouTube Channel for more educational videos about inventing.

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Inside the As Seen On TV category, patents are not required, but in slower moving. niche distribution channels, they are critical.

As with any service need, you can Do It Yourself (DIY) or hire a professional.    It’s all a choice between time, quality and money.   Below is the sequence I recommend.   The most common mis-step I see inventors make is moving to Step 5 before 1-4 are complete.  This is a mistake since filing a provisional starts a 12 month clock that runs fast.   Negotiating licensing agreements takes time. so completing steps 1-4 first, maximizes your investment of money and time.

Whether your product is selected by our licensing agents and you hire Inventive Ideas or you decide to Do It Yourself. here are the next steps I recommend.   Inventive Ideas does not file patents so you will need to DIY or hire an attorney you can understand for that step.   

Here’s what needs to be done.

1. Step Back and Research

   1. Consider “Why” ASOTV passed.   Is your product still viable in niche markets or simply not viable at all?
   2. Evaluate competition dominance.   Do you have a better chance in niche markets?  
   3. Identify the niche markets.  It’s easier to get to selected groups and target companies then ever before.

2. Collect Data

   1. Find similar products being sold and gather manufacture name.  You can find it right on the packaging, online or at the public library.
   2. Develop a spreadsheet contact list of Top 5-10 manufactures.  Not retailers.   Retailers don’t normally license product.  You need to drill down to the manufacture name.   Look on the store shelves at the product packaging.  The manufactures names/brands are listed.  That is your target prospect for licnesing.  Make a list.

3. Gather Information

   1. Call the phone numbers or post online and ask if the company accepts outside new patent product ideas.   If no, cross them off your list and move on.  If yes, get the correct spelling of the person’s name, their direct extension, and email.   This isn’t easy but it’s possible.  Ask them about the kind of products they are looking for and gather information about the evaluation process.  Build a relationship. (You haven’t shown them your idea yet.  You’re simply making an introduction.)    What you really want, is the contact information.  It doesn’t matter if you speak to them or not at this step.   Get complete contact info.

4. Produce Marketing Materials of Concept Prototype

   1. Single Sell Sheet in pdf or short demo video hosted on Youtube in “unlisted” setting works best.   I’m not a fan of animations, unless the product is too complex to prototype.  If you spoke with a live person and have an email, move fast.   Make your own Demo Video or hire Fiverr.com to make a marketing flyer.   
   2. The better you make your prototype look, the more interest you’ll get.   Balance time and money costs.   For more information, see 8 Kinds Of Prototypes and When To Use Them.

5. File Provisional Patent.

   1. DIY or hire a pro.  Use Legal Zoom for $250 or find an attorney for $1,200 – $5,000.   Remember, filing a provisional patent starts the clock so be ready to roll by making sure steps 1-4 are done BEFORE you file.   The moment you file, the clock is ticking so start hot and begin step 5 within the first hour of having a filing number.    You have 12 months to move forward with a utility patent (3 years and $10-$20,000).   Use your time wisely to evaluate licensing potential and viability.   Waiting to file till steps 1-4 are done allows you to start hot.

6. Prospect & Gain Feedback.  

   1.  Use Telephone, Email, Online.   Connect on LinkedIn or other social networks.   Be persistent.    Call, mail, call, write, submit, till you get some interest.   Give Permission for negative feedback. You need to hear what’s tested and failed on their side.   Companies have access to insider information not found on the public domain.   If they tested similar products that failed, no patent was filed so it won’t show up in USPTO records or on Amazon, since the product was not manufactured.   Knowing this can save you thousands of dollars and years of time.

7.  Secure Interest &

   1. If they’re interested, they have questions.   This is the step when Non Disclosure Agreements (NDA’) get signed, after the call.  They want to know more about your product & patent protection.  You want to know more about their company, distribution channel, existing product sales and reason for their interest in this item.    Getting an NDA protects you from them making modifications to your design and leaving you behind.    The time to ask for this is at the end of the call, not before.

8. Set Up An Conference Call. Carrie Jeske Optional.

   1. This is the time to get Carrie Jeske involved.   Depending on how much time and effort it takes, Carrie Jeske will lead the call and work to close a licnesing agreement for you.   Carrie Jeske will provide a Licensing Agent Agreement to you and agree to a fair royalty split.  She’ll fund her expenses, you fund yours.  At this point, there usually aren’t any.  She’s investing her experience, legal agreement templates, value added extras and win-win business model.
   2. Confirm with the Prospect a conference call for any Monday, Wednesday or Friday.   These are high value calls so Carrie Jeske will make them a priority.    Send an email to the Prospect and Carrie Jeske and Carrie Jeske will reply with a Conference Call Call In number that we can use, if you don’t have one yourself.    Carrie Jeske will contact you for a PRE-CALL planning conference call to insure the Goal, Scope and Information Given is understood.   She’ll run the call and you listen in.
   3. GOALS:  1) Identify their Licensing Process. 2) Confirm Nature of Initial Interest.  3) Build Rapport.   4) Confirm Next Steps – sign NDA, send sample, schedule follow up.

9.  Conference Call De-Brief.

   1. Carrie Jeske and you will discuss how the call went and work on next steps.   Normally, the NDA is completed, samples are sent and next steps confirmed.   Carrie Jeske will lead the remaining steps to signed licensing agreement, audits and royalty payments.

10.  Receive Mailbox Money.

    1. You’ll receive “mailbox money” every quarter, once your product hits retail sales.Whatever you decide, knowing when to press forward and when to cut bait is an important and intuitive choice.

When making calls, if all you hear is “No Thank You” or crickets, find a place of peace, consult with those closest to you. whom you trust, and make changes to press onward or drop it and move on to your next idea.

Inventing is a gamble for individuals and companies.  Never invest more then you can afford to lose and never make financial decisions out of desperation or fear.

Cautious Optimistic Hope is your friend.

See you on the shelves! 

Carrie Jeske

Contact Us

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How does the Intellectual Property remain mine from the time I submitted to the time that it is made public and needs IP protection?

Short Answer?

Use non-disclosure agreements (NDA’s), term sheets and modification/improvements clauses in contracts.   Pick your partners wisely.

On My Soapbox…

We count the product owner to be the inventor.  Since we don’t require patents, we just use the product name, which is generally descriptive.     Also, our company has a  good track record.   We work to be “inventor friendly”.    I’ve headed up inventor groups that grew to 1,500 and post videos and free educational material to put people at ease because we want good ideas.    Here’s a playlist of good I.P. insights.   

I’ve launched my own products successfully, but it’s hard work and not as profitable as people perceive because of the high cost of doing business.    When I joined forces with the people at WIL, it was because of their integrity and ability.   I knew we needed to be transparent to gain inventors trust and that’s my role.   

Our appetite for products is so great and the upside so high, that we need inventors thinking and creating product concepts.    Most products fail.  Consumers simply won’t buy them in large enough scale to be worth the effort.     When we develop out a winner, it’s actually more fun to share the wealth, as a team; enjoying the journey together. 

That said, I’m constantly educating inventors on royalty rate verses financial risk on the company side to develop an item out, and the importance of being nice and reasonable.  Inventors often over estimate the value of their  initial concept and some can be “difficult to work with” because of that over estimation, greed, pride or misguided skill arrogance.      We’ve realized our time is the most valuable resource we have since it’s cannot be recouped no matter how much money we make.    Time is a limited resource.   Being able to choose whom we work with is a pleasant benefit. 

The Truth Is!

I enjoy long term relationships of trust.    The hard truth…. If any company wants to design around a product, they can.    When inventors post products on crowd funding sites or DIY networks, they actually end up exposing market problems and solutions that companies take notice of, then invent better, totally unique, product solutions on their own.

Bottom line…. It comes down to contract clauses and language that protect you from invention modifications, but more then that, it comes down to people and trust.    Court battles rarely end in the inventors favor.   Choose your partners wisely and if a big bad company comes knocking…. Have someone like WIL on your side, take their deal and say “thank you”; or prepare to compete with them in the open market.

As for me, I give information for free and make money only when products sell.   In return, I hope for “First Look” and 120 days to develop out a product before pray & spraying it to every Tom, Dick and Harry.  

See you on the shelves,

Carrie Jeske

816-255-4600

carrie@willitlaunch.com

If you’re into social networking, please connect with me on:

FACEBOOK      LINKEDIN        YOUTUBE       TWITTER

For submission info, send your ideas to me directly and checkout these instruction links: 

http://www.willitlaunch.com/inventors-corner/

For Patent or patent pending, non ASOTV inventions see:

www.InventiveIdeas.com

To download this article:

How does the Intellectual Property remain mine from the time I submitted to the time that it is made public and needs IP protection

intellectual property

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This is a great time for innovation so capitalize on the trends and invent smart.

There is much opportunity for independent inventors from TV shows to invention contests and more.  The main concern for inventors, is in this public and social environment.  

There are a lot of resources available, but putting your inventions online can usher in unnecessary competition.  

If you go that route, be prepared to make decisions quickly and full court press your momentum.   Submitting products online telegraphs problems that consumers may be responsive to and gives “deeper pocketed” competitors an advantage in the speed to market game.

  Understanding the pros’ and cons can help inventors make wise decisions and capitalize on this excellent time for innovation.

In the inventor community, companies and experts often position themselves as one stop shops, when the core competency is actually far more finely tuned.  

Here’s my assessment of some of the current players and how they can help your quest to see your product on retail shelves.

United Inventor Association (UIA)

The United Inventors (UIA) is a non-profit inventor group aimed at helping independent inventors.   To me, the best part of the UIA is found in the inventor clubs located around the country.  

These groups are made up of a combination of service providers, entrepreneurs, inventors and positive people wanting to add value.   

The current president is John Calvert, formerly with the USPTO.   I interviewed John in 2013 and reconnected again just a few months ago.   He’s a sharp man with much value to add so I’m excited to see where he takes the organization. 

Edison Nation

Working with Edison Nation can be a good choice if you have a concept that does not meet the 7 criteria for successful ASOTV products. 

  They have a strong presence in many industries and would be a great partner, in you need help developing and licensing a non-ASOTV item at concept stage.

The first time I met the companies CEO, Louis Foreman, was in 2013 at the USPTO Independent Inventor Conference.    He advocates heavily for independent inventors legislatively.  I found him to be a compelling speaker and he seemed genuinely concerned about helping independent inventors.

Edison Nation charges submission fees and take approximately 50% percent of the inventor royalties.    I haven’t seen a win come from this group since the Gyro Bowl and I did hear through the grapevine their cash flow is tight.

So it will be interesting to see what changes emerge.

If your invention does meet the criteria for successful ASOTV products, why give up 1/2 the royalties?    There are many companies like Edison Nation that sub-license to my ASOTV back end partners.   After all, knowing who to turn to is worth something. 

Quirky

(update 1/1/16:  Quirky was found dead.  Excessive expenses with diminshed product revenues starved it to death.)

The folks at Quirky are strong product developers.  

Many of the inventors active in the Quirky community also serve on my product scout team so I review a lot of their items.

The company is unique in that it relies on a community of influencers to help select which submissions to move forward with.  You can learn a lot about the product development process simply by observing the submissions that succeed and fail.    

Since the core competency of Quirky is product development.

Many of the inventions are simply “better mousetraps” with trendy new designs. 

  Recently, the company has struggled to find functional value and to differentiate it’s products in a way that spark consumer spending interest.   

Where Quirky has been successful is in the electronics category.  

They have several winners in this market segment so my Q insiders say that business segment will remain in tact.

Even as change is in the wind for the other product categories.

Private equity partners have brought in GE and Mattel as partner companies.

  I’m told the company will return to it’s product development roots and be more willing to license it’s designs.

Rather than incur the cost and risks inherit in the operational challenges of taking a product onto the retail store shelves.

  I would surmise most of their new products will household and toy.

Quirky can be a great resource for non-ASOTV items that need development, but like Edison Nation, they take a percentage of royalties, so for ASOTV products.

It’s best to submit directly to WillitLaunch.com where the inventor receives full royalties with no split or submission fees.

Related: 

How the invention factory at Quirky almost imagined its way out of business

Shark Tank

Shark Tank is a popular reality show that is a buzzing machine of entrepreneurial and inventor education.   I just love free education!    There are many online radio shows and blogs dedicated to detailed analysis and play by play of the Shark Tank drama.    

Recently, I met Barbara Corcoran at the Park University’s Xerox Global Business Lecture series.  She said many of the deals that get made on the show, never materialize during the due diligence phase.    She elaborated on the behind the scenes saga that now is becoming the Beyond The Tank series.    

Most inventors will spend time and travel expense to audition and not be selected.

  For those that are, a few will (out of pride or promotion) walk away from the opportunity of a life time.  For others, their dreams will become reality and their products and services will sell millions.   

The popularity of Shark Tank has sparked an increase in innovation and the shows investors do have the ability to produce product and grow company revenue, in very short order.    

My Caution!

My caution is, don’t pin your dreams on Shark Tank as your only solution.  Contact retail buyers and work to license your intellectual property before going on the show.

  If you do get a deal, guard yourself against the sales spike by controlling your expenses during the feeding frenzy and save profits, to be re-invested in future inventory.    Don’t expect money in your own pocket for a while.

My insiders tell me the Sharks often encourage companies to bring on debt, since future funding is often needed and the equity pie is already nearly 1/2.

  This is a concern for me because it reduces the financial risk of the Shark, but puts the inventor at higher financial risk.

  Debt is a strategy I strongly advise against, in almost every instance.

Good Books

The Inventor’s Bible 

by Ronald Louis Docie Sr.

This book is an easy read and helps inventors with simple ideas.

Patent Pending in 24 Hours 

by Richard Stim and David Pressmen

David Pressman, a leader in intellectual property for independent inventors.  This book offers a comprehensive overview, along with detail in just the right places.

Simple Steps To Retail – See Your Idea “As Seen On TV” by Carrie Jeske

Forgive the shameless plug, but I’ve been gaining experience to write this book since 2013.

  For a sneak peak, read my blogs or check our social networks for the coming launch.

Inventive Ideas, Inc.

Inventive Ideas got it’s start by launching and licensing it’s own products in 2000 and expanding it’s reach through volunteer service in the inventor community. 

The company develops, trains and supports a team of product scouts and licensing agents, located around the globe.  Inventive Ideas set’s up Open Innovation platforms to manufacture/distributors looking for products and offers Licensing Agent services to inventors who have a patent filed.    

Pam Woods, VP of Licensing says, “We can’t guarantee we’ll get you a licensing agreement, but we’ll give your product it’s best shot at success.”

Inventive agents collaborates with product owners to build a top 25 hit list, then works that list over a 3 month term gathering feedback. Gaining interest and securing well written licensing agreements.    

Considering time, their most valuable resource, the team is highly selective about which products and inventors to work with.

  Working with only a few clients a year, licensing success rate is very high.

Crowdfunding

My team of product scouts, along with every other company, service provider and merry band of inventor and entrepreneurial resource are all on the Crowdfunding bandwagon. 

  I’m told the next big wave is called “Equity Crowdfunding”.

Where instead of product sales you offer a piece of the company pie.   

I have a friend who raised almost $60,000 on a kids toy and has built the business to almost 1 million dollars from his garage, with the kids doing order fulfillment.  

Now that’s a success story.    

Don’t forget.  

It’s a crowded platform now so you have to market your campaign well and if successful.

Quickly sort through service providers verses licensee partners.    If you’re item does well, you’ll need to move fast to net a profit.    Decided between “Make and Sell” and “Licensing” as quickly as possible and go for it.  Your on the public domain so competitors will emerge faster than you might think.

Fiverr & Elance

What a wonderful time to find service providers!   There are so many low cost resources available that the start-up costs of inventing can remain very low.  

Graphic design, sell sheets, demo videos, CAD drawings and freelancers are all willing to work on your project at a fraction of what it used to cost.     

Popular sites like Elance and Fiverr are hot beds of opportunity.  

  I have not used Elance but I use Fiverr all the time.    I find it’s best to go with the more highly rated service providers.  

Also, be careful not to stray outside the box of what they offer.   Many have services or “gigs” that are very specific for only $5. 

Anything outside that box costs more.    Start with simple requests within the $5 simple range till you get comfortable with the system and the people. 

  I have my own stable of go to experts now that provide great work, in a short time frame, without much expense.  

To me, that’s a match made in heaven.    

Make your designs look so real that companies can’t wait to buy and manufacture your ideas and inventions.

3-D printing

Making a prototype has never been easier.  There are many good product developers on Linkedin.  Join a group and start asking questions.  

If you’re looking for 3D printing services near you, here’s a webpage that might help.    Also, many public libraries are adding 3D printing to their list of services.    

These machines are becoming so prevalent and so cost effective that I anticipate a major surge in innovation in every category.  

However, 3D printers are especially helpful in the ASOTV distribution channel.

They allow us to to produce well made prototypes that make the market viability testing process more successful.

As Seen on TV

The fastest, least expensive way an inventor can make money on an idea.   It’a category, not a company.   The red and white logo is public domain but don’t use it because it makes insiders think your product was tested and failed.  

That is the kiss of death for a licensing agreement in this category.

There are no submission fees and we pay full inventor royalties!    We review hand made mock-up prototypes, finished goods and imports.  

Just send a link to a demo video or website with the Product Name listed in the Subject line.    Our email date and time stamps your submission.    

We’ll review the idea in a few days and reply with specific feedback.  

Term sheets to test market viability can be offered in under 30 days with tests completed in under 120 days or less.  

To find out more, watch my video, Sell Your Invention With No Patent and a Simple Prototype.

In closing, however you choose to move forward, I wish you all the best.

  This is a great time for innovation.  

Keep your costs low, choose the right partners and sprinkle a bit of pixy dust for luck along the way.

See you on the shelves,

Carrie Jeske

© 2015 Jeske.    Do not copy.   For reprint rights contact Carrie Jeske directly.

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DRTV Licensing Step One – Carrie Jeske

As Seen On TV (ASOTV) The fastest, least expensive way an inventor can make money on an idea.

The royalties paid are huge, the product development cycle fast and the life cycle short.

So inventions thrive before competitive products siphon away profits.

As Seen On TV (ASOTV) is a category, not a company.   

The red and white logo is public domain but don’t use it because it makes insiders think your product was tested and failed.  

That  is the kiss of death for a licensing agreement in this category.

There are no submission fees and inventors earn full inventor royalties when working with an industry insider.   

There are also partnership distribution agreements for business savvy inventor/entrepreneurs that want add skin to the game for a seat at the table.   

Every product ever done on TV, by anyone is a matter of public record.

 The proprietary algorithms and consumer interest metrics are astonishing.  

It’s wise for anyone moving forward with manufacturing to complete this testing prier to investing in the high and unchanging costs of molds and final goods.

We review hand made mock-up prototypes, finished goods and imports.  

Just send a link to a demo video or website with the Product Name listed in the Subject line. 

  Our email date and time stamps your submission.    

We’ll review the idea in a few days and reply with specific feedback.  

Term sheets to test market viability can be offered in under 30 days with tests completed in under 120 days or less.  

To find out more, watch my video, Sell Your Invention With No Patent and a Simple Prototype.

See you on the shelves and lets talk online.

Stay close,

Carrie Jeske

DRTV Licensing Step One

© 2015 Jeske.    Do not copy this content.   For reprint rights contact Carrie Jeske.

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