By Carrie Jeske

Good inventors wanted.   Everyone has an idea, but few people have the skill and drive to actually make it happen.   Those who do, often get discouraged or disillusioned by how many products fail before the golden eye of the consumer twinkles and sparkles with positive results, that actually make money for those on the team with even a tiny percentage.     It truly does take a village and launching a product single handily is  impossible.  In today’s fast paced market, even with the benefit of the internet and direct sales channels.

I love the line in the movie when Jerry Maguire pleads, “HELP ME, HELP YOU”.

Sometimes, people just don’t realize the value of team work until they’ve tried to succeed alone.   They can’t see the chip on their own shoulder until someone brave points it out.  During a time they are actually willing to listen.

Are You A Battle Tested Inventor Entrepreneur?

Battle tested inventors know the disappointment of wasting money on travel expenses to the endless supply of cattle call retail events.  They promise success to inventors, but, more often, deliver free publicity to retailers and service providers.

Battle tested inventor entrepreneurs paid monthly retainers and fees to consultants, coaches and invention submission companies who rarely deliver on expectations. Instead, they’re long on spoon feeding hope of future royalties, in return for the purchase of another service or resource.

Battle tested inventor entrepreneurs know the pain of product returns, disappointing consumer feedback and market test failure, yet they find strength somewhere deep inside to soldier on.  Knowing the valuable lessons they’ve learn and investment in a Master’s Degree from the School of Hard Knocks is destined to pay off big.    These inventors, entrepreneurs, licensing agents and product scouts are willing to put in the time because they know with persistence, patience and time Lady Luck or Divine Providence will smile upon their efforts.   These are the relentless optimists that I’m calling to the team.

Help me, Help you!

Some inventors have even tasted the sweetness of early stage success by selling their product online.  Likewise, they have sells from trade shows and maybe even been awarded retail test rollouts and won awards.

Sadly, Only to find out the operational costs, vender shipping requirements, product liability expense and end result profits were not nearly as lucrative as they imagined.  They experienced firsthand, that with sales success comes an increased need for cash to buy inventory and less money to pocket as compensation.   Debt or Fund Raising become the only option and time becomes the enemy since public domain products face inevitable market competition when big money is a real potential.

The need for capital to sustain growth increases exponentially.  Few good sources are available to obtain the cash needed to thrive.

Inventors Wanted

Like Jerry, I pled with you, dear product inventor.  “Help me, Help You”.   Let me show you a better way of inventing.    Tuck away your fear of loss and surrender your individualism to the strength of great teamwork.   Connect with the best potential to develop, fund, and distribute your great inventions with the speed and excellence of an army of experts.

We’re waiting to review your invention and will provide you fast and specific feedback on the viability of your product for mass market distribution.   If my team agree’s to test your product for market viability, you receive a term sheet for a licensing agreement in 30-60 days with testing complete in under 120 days.    No one can promise consumers will buy your product, but we can promise that trustworthy and skilled experts will review your idea and make the most of it, with your involvement or your blessing, whichever makes the most dollars and cents.

Let’s get started.  Submit Your Product Here   or  learn from my blogs and videos.

Carrie Jeske

How Can I help?

www.InventiveIdeas.com    –   Free education and fee based licensing agent services.  Product Criteria:  Patent filed.  Products in any catagory or price point.    Must submit hand-made prototype and smartphone demo video at minimum.

www.WillitLaunch.com  –  Direct licensee for “As Seen On TV” catagory.  Product Criteria: No patent needed.  Physically small products that solve a mass market problem in a visually appealing way.   “As Seen On TV” catagory only.  Must submit hand-made prototype and smartphone demo video at minimum.  Higher the quality prototype and video, the easier and faster to test consumer responsiveness.

www.InventingWorkshop.com –  Non-profit 501c3.  Product Criteria:  IDEAS WELCOME.    Let’s talk every month here. We take word only submissions and anything from concept to market ready product submissions.  Teams of positive and creative people join forces to make money.   This is a fun and collaborative workshop, founded by a nonprofit company, for the public good of innovation.    Join a monthly workshop or start one of our local groups in your town.

(c) 2013 Jeske.   Request reprint rights in writing at Info [@] InventiveIdeas.com

(c) 2016 Updated September.

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Congratulations.  Your crowd funding campaign succeeded.   Take a few minutes to enjoy your success, then WATCH OUT and BE SMART.    You’re on the public domain with a product people seem to like so remember competitors, as well as consumers have taken notice.

Take a few minutes to enjoy this step toward financial success.  High five with your family and team, but remember, this is just one step toward your goal of earning cash, it’s not the end of the game.   You’re just ahead at half time.

Here are the most common challenges of crowd funding success that I’ve noticed.

The Big Head

Successful crowd funding campaigns have a tendency to increase the circumference of the cranium for some inventors.   Often the value of campaign success is delusion-ally inflated, forgetting there is a long road ahead with many additional “small wins” required for serious financial gain.   Bottom line is; you’re going to need a lot more help to leverage the win from this one successful endeavor.  Choose your next step and your partners wisely.

Confusion

Inventors get bombarded with offers from service providers, serious licensees, strategic alliances and potential partners.  Sorting out who’s who is a chore.  Everyone seems to have the answer so deciding the best, least expensive / highest potential, next step can be a daunting task.   In truth, none of us has a working crystal or Magic 8 Ball.   Write out your options and consider risk vs reward soberly.  Go with your gut, but don’t let emotions mistake dreams for best practice product launch sequences.   There are no pie in the sky, get rich quick schemes in inventing.  Whatever you do next takes time and money.  It’s just a matter of who’s going to spend it.

Manufacturing

Inventors often think it’s smart to say they found overseas manufacturing and have traveled internationally to visit.  It sounds cool over drinks and makes you feel like a good business person.   The reality is that manufactures need volume so when you are a small, short run client your not really going to get the quality and time you think you are, in the early stage, no matter how much salesmanship makes you believe you will.   Even so, starting with a small run will fulfill your obligations and give you some market test data.  Don’t make too many units, even if the unit price is higher per piece.  I promise you, you’ll want to make design changes once your customers start giving real feedback.   Guard your cash like a junk yard dog.  You’re going to need it.

Before you take this step, be sure to count the cost, then double it.  There’s a training video on these challenges available on my YouTube channel in the Manufacturing playlist.

Capital Needs

The crowd funding money was a great start.  You’ve got a few seeds, but you’re going to need more cash to end well.  The more you sell, the more cash for operations & inventory you’ll need.   Be sure to save profits now and consider ways to maximize your finances.   You won’t get to pocket any money for a while.   It’s time to press in and lay a good foundation.

Competition & Knock-Offs

Since you did well, you can bet your competitors are alerted. I have 62 product scouts scanning the public domain looking for products that meet a narrow criteria of As Seen On TV. You can bet your competitor pays attention too.   They may contact you and want to license your product. If so, my advise if they are a large, dominate company, is to take the deal and say “Thank you”.

They are far better positioned to move your product quickly to market. If you decline or give them the impression you’re “difficult”, you should expect competition. Large companies can and will employ aggressive techniques when they find winning products in their sector. Everyone wants a piece of the pie. A tiny sliver is often better then missing out completely. Like in poker, the one with the most chips is at an advantage so don’t be foolish by finding yourself in legal battles you really can’t win.

As Seen On TV Products

If your product is a physically small product that solves and everyday problem in a visually demonstrable way, I hope you’ll give me “First Look” BEFORE your crowd funding campaign begins or as soon as possible whether funded or not.   We license products with no patent, on a simple mock-up prototype and home made demo video, in under 30 days.  Checkout Will It Launch?

My suggestion is enjoy your crowdfunding success and leverage it for a licensing agreement.    If you need help and want to hire a licensing agent, checkout Inventive Ideas.

Simultaneously, start building your business by fulfilling your crowd funding obligations with good communication and excellence.   It’s time to prove there is market demand, leveraging your crowd funders networks, and generate more cash.  Don’t believe you have to go big.  Sometimes it’s better to start small and build a profitable business organically, then take on a bunch of debt or investors and risk the family farm.

Whatever you decide, send me a link to your campaign with the product name in the subject line and I’ll do my best to chime in with some free advice and promote it if you’re active on my social networks.

Congratulations on your crowd funding success.  See you on the shelves!

crowd funding success!

Carrie Jeske

Contact Inventive Ideas

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