Learn to invent products for Walmart.   Sell your ideas to As Seen On TV industry experts who pay royalties.

Carrie Jeske reviews products and explains how inventors can sell product ideas and concepts without a patent.

A well made prototype and smartphone demo video is all that’s needed. See your ideas on the As Seen On TV shelf space of Walmart.
www.WillItLaunch.com
www.InventiveIdeas.com

Watch Interview with Carrie Jeske

Part 1:  

Part 2: 

Carrie Jeske joins forces with Lee Langerock, EDFP
Executive Director, the Ennovation Center. The Independence Regional Ennovation Center is a mixed use business incubator which focuses on three core areas for the development of new businesses…..bio-tech, kitchen, and business & technology.

Located in Independence, Missouri, the Ennovation Center provides the necessary facilities and support services to launch successful start up businesses in a collaborative environment which fosters entrepreneurs.

Take your idea from concept to commercialization at the Ennovation Center http://www.ennovationcenter.com/

201 n. forest ave
independence, mo 64050
info@ennovationcenter.com
816-463-3532

The Ennovation Center is a 28,000 square foot business development incubator housing two distinct business specialties:  a shared commercial kitchen space and a business and tech area featuring coworking, dedicated desks, offices and tech suites.

The friendly staff offers on-site, business development start-up and scale-up services with focused expertise in marketing, sales, and business strategies.

Join Carrie Jeske Online

Every 1st Thursday from 7-9 pm

Inventing As A Team

The post Carrie Jeske Reviews Products For Walmart “As Seen On TV” appeared first on Inventive Ideas, LLC.

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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Carrie Jeske is a Direct Licensee, Licensing Agent & Product Scout Team Founder

We live in a fast moving, quick changing world.  The opportunity for independent inventors has never been greater. The risks never more crippling.   Be smart when launching new product ideas.  Beating knock-offs can be a dirty business or a magical mystery tour.  Here are my tips or the latter (while taking a dip in the former.)

1) Stay Pure

Use private submissions till you’re ready to go public.   The public domain can generate consumer interest, but it comes at the price of increased market competition.   Don’t take your product idea public too soon.

Many manufactures in every category and especially on As Seen on TV shelves need time to test the product before investing capital. In TV, it’s about survey’s, web tests and 2-minute TV commercials. Getting a positive result with a strong marketing message takes time.

Stay pure. Find a partner you trust and gather inside feedback to make your pitch and product the strongest it can be.   Leverage industry insiders by giving permission for candid feedback and considering negative feedback before dismissing important product and market competition information. If opportunity arises, sign a licensing agreement BEFORE going public. It’s likely the direct licensee can capitalize on the head start so everyone makes more money.

Improve the prototype, product pitch and demo video so when you do go public, you’re putting your best foot forward.  Stay pure, till you’re seriously ready for something more. When you’re in position, put your best effort into going viral. Try crowdfunding.

With 60 Second Salad, the inventors gave WIL the opportunity to complete the testing cycle before going public.  We had an early advantage over competitors. Even so, within weeks of the viral video, Asian knock-offs began flooding Amazon and my email.

2) Marry A King

Once you go public, you’ll get suitors or hear crickets. If a billion-dollar company comes calling, get hitched, if they are willing. Be charming, smart and marry for the money!   After all, this is business. You’re not having human babies together.  The King controls the distribution channel and has the power, time, money, connections and experience needed to make your product a financial success. Let them do it.

Don’t make the mistake of telling a King how to run a business or spend money. Just say “Thank you” and collect a royalty check in the mail then live a happy life, in community with friends and family.

The alternative; become a competitor and battle in the open consumer market. Call it a knock off, a follower or capitalism. Either way, it’s coming.

A Speedy Wedding  

Be fast and first. A big company with current products already on store shelves has a fine tuned operational infrastructure humming like a sailor on shore leave.  They want more products!  They move fast. Don’t over haggle or delay the prenuptial or they’ll tire with you and move on to another or leave you at the altar. A business marriage is not a lifelong commitment.  It’s a term agreement to make money together. Don’t confuse the two. Make money.

Bring Protection      

Patents

Having a fully granted utility patent is helpful, but only in the hands of a large experienced company. Most independent inventors cannot afford the legal fees to enforce their patent.

Fighting legal battles is what attorneys are trained for.  Don’t be naive.  Knowing how long to draw out a court case, when to settle, and how to leverage product sales to the last penny is a strategy.  An inventors best bet, is to have their patent protected by a direct licensee, large funding source or pro bono legal firm.

Funding

If you’re determined to do it yourself, make sure you have the funding in place to handle large purchase orders.  Start with equity partners, factoring or investor notes then move to credit lines with caution. I strongly discourage credit card debt or high interest business loans.

Partners

Connecting with the right partner is one of the single most important decisions an inventor can make. Working with someone you trust, who has your back can avoid many pitfalls.  There are no guarantees with product inventing, but feeling good about the people you work with… priceless.

With 60 Second Salad, WIL secured a billion-dollar partner to handle the operational rollout. They took our testing data and ramped up product development and lined up retail buyers in under three months. That’s the power of a King. 

3) Flirt with Social Networking, Online Selling, Crowdfunding

If there are no wedding plans, play your own game. But keep an eye out for suiters to avoid being knocked off.

Remarketing

Use Remarketing campaigns through Google AdWords and fall in love with social networking. Paying for clicks or sales isn’t easy or cheap but there are low cost strategies that gain market awareness. If you don’t have big bucks, it costs TIME and SKILL.   There are many free pre-view training programs that will share one to three good ideas for free, in hopes of selling the program.  Before you buy, trying DOING the three free steps.  Too often, inventor entrepreneurs focus on the “knowing” rather than the “doing”.  Both are important, but before I’d pay for a program, I’d see if I could implement a few suggestions for free.   Take the free classes, learn and do. See what works.  The secret is testing to determine your target market.

Affiliate Marketing

Affiliate marketers choose the products they want to sell. Sellers provide a unique affiliate code that is used to refer traffic to the target site. Most affiliate programs will offer ready-made text links, banners and other forms of creative copy. Affiliates simply copy the code and place it on their website to start referring traffic. When interested visitors click on these links from they get redirected to the product site and if a product purchase is made the referrer makes a commission.

This was a boom in the 1990’s and can still be a fantastic strategy.  Today, inventor entrepreneurs must wade through the mass of internet service providers, affiliate marketing programs.  I don’t have any answers, but if I were investing in a product with this as a strategy, I’d require an credible expert on the launch team.

Direct Sales

A no brainer. Your margins are better, but you still must market the site and fund inventory.

Crowdfunding

Get funded and go viral. Be noticed. Just remember; a marriage to the King is still the best end game.

4) Know Who You Are

If you’re on your own or seeking a partner, know who you are, but let the product lead. The jockey and the horse work together to win the race, but quality horses are harder to develop then good jockey’s.  Leverage what you’ve got.

• Friendly– great customer service. Excellent return policies.
• Giving– donations to causes. Affiliation with those causes.
• Caring– environmentally conscious materials?  Does this matter to your target market?

5) Do It Better

Ultimately, it’s the product that will stand on its own. Focus on:

• Uniqueness– product design and problem / solution consumers will pay for. Think soberly on the truth and integrity of this requirement. Is your product solid or are you making a mountain out of a mole hill?
• Marketing. Develop legendary branding. Put together a well thought out marketing pitch that is compelling to your target. Be the purple cow.
• Diversity. Create many product lines. Consider adding accessories and product extensions to broaden the value of your offer. Most knock-offs won’t go the extra mile. Always count the cost.
• Trademarks.Unlike patents, trademarks are harder to get around. If you have a clever name or brand that the direct licensee values or that the market knows, this could be important.  If not, it’s not. Spend wisely.
• Value. Price competitively. Is there a strong value proposition?  Today’s consumers have many options for spending money. Is your value clear?
• Quality. Make the best quality at the lowest possible price to consumers and highest profit margin for you.

With 60 Second Salad, the viral testing video and crowdfunding campaign used a white prototype.  The final rollout product is red, a part of an existing product line, and comes with a bonus knife for added value.

6) Two Is Better than One

Sometimes it’s best to knock yourself off.  There are a couple of good strategies here.

Different Distribution Channels

With some products, the best of both worlds is possible.  License one version of your product to one market, then make and sell to build a business in another market segment.   Two is better than one.  Get a big company working on a version of your product that works for them and keep on your own path to marketing.  Double dipping with a partner reduces risk for the inventor entrepreneur.

Do this yourself if you can fund the manufacturing and distribution. Working multiple channels where the market pulls product, rather than pushing it up the hill is the way to go.

Different Price Points and Feature/Benefits

Some experts claim covering three price points with a mix of feature/benefit works to keep the big companies at bay.  Try low, medium, high price prices, giving consumers a wide array of choices that all say “Buy Me”. The risk is too much inventory and higher operational costs.

7) Love the Masses or Know Your Place

Think soberly. Is the product a mass market consumer item or a niche?  There’s nothing wrong with niche products. In fact, it’s easier to sell niche products on your own sometimes because it takes less money to reach a select group of customers.  Is your product more geared to people who love biking? Is it sports related or fishing?

Finding the right customer is like having 12 ponds to fish in.  You must figure out what pond has fish and then understand what bait they bite on before you run out of time and money.  The faster you find your target, the more sales.

Mass market products are at greater threat because big companies have greater need for products and more resources to produce them.  They sell more and make more, which by default, means greater market competition for dollars.

Niche products can fly under the radar and become nice lifestyle businesses for inventor entrepreneurs.  The risk of knock offs is much lower with a niche product.

Conclusion

In my way of thinking, making money on a new product idea is the goal.   Avoiding knock offs is an important key toward that end.  I trust these steps will help inventor entrepreneurs make wise decisions, find high quality partners, service providers and direct licensees.   There are a lot of good people in the inventor community and a few scoundrels.

I hope we can work together on the next big retail rollout.  It is my singular business focus. Please:

1) Give me “First Look” on “As Seen On TV” product ideas. Submit to carrie@WillitLaunch.com

2) Join my Product Scout team.

3) Participate online in video Co-Inventing Workshops.

See you on the shelves!

Carrie Jeske

PS – Carrie Jeske has been happily married for 30 years to her Jr. High School sweetheart. They travel extensively but reside in Kansas City.

The post 7 Ways to Beat Product Knock Offs by Carrie Jeske appeared first on Inventive Ideas, LLC.

The post Inventing Home Run or Single Income Product? by Carrie Jeske appeared first on Inventive Ideas, LLC.

I’m amazed at how many people believe complaints, reviews or complements they read online. It’s marketing, you know?

Remember when people used to think what they read in newspapers and magazines and saw on TV shows was real? Then we discovered the whole industry of Public Relations (PR) and realized for $5,000 a month a good PR company can have anyone on Good Morning America, as an expert.  I won’t pay that kind of extortion just to look like everyone likes me.  The truth is, not everyone does…. but MOST PEOPLE DO.

Coaches promote signed licensing agreements for product that were simply tested but failed; never making the inventor a dime.   Inventors should not believe everything written online for the good or the bad.   Use your common sense and intuition about people and soberly discern the right next steps for your product.

Most people who write bad reviews are just mad their product failed our test.   Please call or write me yourself before you decide your opinion.

Here’s how REAL PEOPLE review Carrie Jeske.  click  Carrie Jeske Profile

Related:  Inventing Home Run or Single Income Product

It’s the same thing with online reviews now. I recently read a list of very positive reviews for a company every industry insider knows is a scammer. They sounded wonderful. Five Stars. People loved them! There were glowing reviews starting with the initial call by an inventor and what great phone service was provided. Then another reviewer discussed the contracts and how simple to understand they were. I read on to find what fantastic customer service and order fulfillment processes this company had. Then, more about how satisfied and happy with the specific services (written keyword friendly, how convenient.), even sighting employee names, as if they were long lost friends, who’d been reunited.

Seriously? Do people really believe this? It’s a Social Networking Expert, you know. For $5,000 a month (or $5 on Fiverr), you can hire a company to write positive reviews and post them all over the internet. It’s just business. Specifically… it’s todays marketing. Lets go negative.

The Wild Wild West of Online Complaints & Reviews

Anyone can say anything, anytime. Do you think some people might actually be crazy, unbalance, manic? As a semi public figure who’s just posted a few educational videos online for inventors, in a pretty small market segment; I get hassled online all the time. People make all kinds of comments, tweets, reviews based on whatever popped into their head at the moment. True, untrue, fact, fiction, opinion, emotional response, bad hair day…. who knows why? I’ve been threatened by people I’ve never met or worked with in any capacity.

The sad thing is it hurts people and it hurts business. Back in the day, the Better Business Bureau used to be the gold standard of who’s who in the scammer company zoo. Business didn’t like them much because no one wants negative information shared, but at least they required a specific injustice be sited. They required a confirmed real person making a real complaint of a legitimate contractual infraction. Also offer a real opportunity to rebut or make restitution. They provided a true chance for customer satisfaction where parties could agree on how to make a situation right. It was an uncomfortable pain in the butt (as fixing all true
mistakes is), but it worked. Now, they are a relic.

More comments from real people I’ve worked with and helped.   Facebook Album of Testimonials.

Be Careful!

We have every manner of Rip Off Report, Pissed Customer, Consumer Advocate, Watch Dog, Social Network where anyone can post anything at anytime. What a great platform for disreputable competitors and the temporarily insane.

These sites will post anything, any time, by anyone. Real, anonymous or made up people with real or made up facts. That seems disreputable to me.

They promote slander under the disguise of public helps. Under the banner of justice. Once names of the accused are locked in, “never to be removed from the public domain”, the real scam begins. Many start an email campaign warning the accused that their company name or personal name may on the verge of “irreparable damage if you don’t act now!” For a small fee, they guarantee to bury or remove all negative information for a price. Hmmm, how convenient for them. The ole’ scammers scam. I hope all the class action law suits against these sites sort out the honest truth.

Are Some Inventors Temporarily Insane?

Lets discuss the “temporarily insane”.  That’s something I and most inventors have fallen victim to at one time or another. We love, love, love our own ideas and when we put money into them, the emotional connection borders on worship. (You know it’s true.) When others don’t value it or recognize it’s splendor, that makes no logical sense. Snap. Temporary insanity begins. It happens all the time and now there’s an internet where people can post…. WHAT? Anything, anytime, as anyone. Bottom line…. my grandma used to tell me to have Horse Sense? I’m not sure really how much sense that actually is, but if a company wants money to provide a service for your great new product and has no current product success stories, you might want to reconsider. It may be as simple as that.

Whatever you do you can count on me to tell you the truth, as my experience sees it. I’ll be candid and direct. You won’t always like my advice.

The Truth Hurts!

When you spend money on an invention, it’s a high risk, high return play. Most inventions fail. Most patents don’t produce a financial gain. Never spend more then you can afford to lose and realize sometimes it does take money, to make money. Show some Horse Sense about it. Whether you’re an independent inventor or a big company, the game is the same. Find and/or develop a product mass market consumers buy and get a small piece of the upside.

If you’re a fair minded, reasonable inventor, call or write me anytime. I value long term, honest relationships with real people. I hope we get lucky on a product together. If not, I guess I’ll skim past your posts online (whoever you are) and not let the door hit me in the back.

Onward & Upward,

Carrie Jeske

Related:  A Tale of Three ASOTV Licensing Discussions

Related:  Licensing – The Other Side Of The Table

RipOff Report Sept 23, 2016 Update

What a racket RipOff Report has going.  They post anonymous slander, then sell services to remove it.   Seriously, can a RipOff Report be posted on them?

From: RipOff Report – IMPORORTANT ANNOUNCEMENT <ripoffreportremovalservice@hotmail.com>
Organization: Ripoff Report Removal
Reply-To: “ripoffreportremovalservice@hotmail.com” <ripoffreportremovalservice@hotmail.com>
Date: Thursday, September 22, 2016 at 10:39 PM
To: Carrie Jeske <Carrie@willitlaunch.com>
Subject: A NEW Effective Way to REMOVE Your Ripoff Report

IMPORTANT ANNOUNCEMENT ABOUT RIPOFF REPORT

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The post Complaints, Reviews, Common Sense with Carrie Jeske appeared first on Inventive Ideas, LLC.

Product Competition

In today’s world, there is so much competition for the consumer dollar.  People have many choices about where and how to spend their money.   Getting them to put it on an inventor product takes marketing skill and a fair bit of luck or Divine Providence.

Product licensing isn’t easy work.   It takes time and is filled with redundant tasks and rejection.  It’s not for everyone, but over the years, I’ve learned a lot from both sides of the table.    I experienced the wide eyed optimism of being and inventor, the sober minded hope of running a small business, the disappointment of failure and the surge of responsibility bought by success.

My goal is to make a difference and add value as inventors consider the pros and cons of each next step in the inventing sequence.   Here’s a page with helpful information.

Nowadays inventors have many options for whom to choose as a partner.   You can Do It Yourself (DIY) or hire a professional.   Either way, securing a licensing agreement is a combination of hard work and luck.

Product Licensing

Licensing is a fun business.  Over 20 years, I’ve had the unique perspective of watching licensing agreements from both sides of the table.    This last few years, more of my time has been spend on the phone with inventors.    There is so much room for growth and opportunity now for everyone.

I enjoy long term relationships built on trust and mutual profit.    Please give me first look at your product ideas and let me help if I can.   I enjoy making money in teams.   No one person can take a product from concept to market on their own.  We need one another.   I love being on this side of the table where I see so many products and have a much clearer understanding of just how hard it is to succeed at making money on a product idea.  The launch costs are excessive.  Far higher then most inventors realize.  Certainly more time consuming then I imaged, as an inventor.

I look forward to getting to know you on social networks.  It’s very helpful when you participate and ask questions on the public domain for the good of all.

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

FACEBOOK      LINKEDIN        YOUTUBE       TWITTER

Carrie Jeske

The post Product Licensing – From the other side of the table by Carrie Jeske appeared first on Inventive Ideas, LLC.

Today (about 3 years ago) was an interesting day in ASOTV licensing.    Those of you who know me realize my heart is the educate and inspire inventors to create great new products that can be licensed into the As Seen on TV distribution channel. that goes into mass market retail.

I’ve been at this for about 15 years total and three years ASOTV with serious focus growing this year because I believe it’s the fastest. least expensive way an inventor can make money on a product. even at concept stage.    I enjoy the freedom of not having to charge service fees. which gives me peace of mind since I don’t have to charge anyone any money.  Most products fail and about 90% of patents issues by the USPTO never see a store shelf so the invention business is not normally a quick or easy path to riches, but it is a path nonetheless.

I have quite a bit of experience in business, in general, and launching my inventor husband’s ideas but sitting on this side of the table is an eye opening and really fun experience.      I share the conversations below as a training tool for innovators.

A Tale of Three ASOTV Licensing Discussions

They start bad but end really well.

Let’s call the product, PickThick for training purposes….   This is a “Not So Great” Example for the MANUFACTURE and SELL invention strategy.

We had an initial conversation where a Term Sheet was sent to the Inventor of PickThick. A product already on the market selling in limited distribution.

This is an example of someone who wants to manufacture and sell their product and build a business around it.  They’ve experienced some sales success toward that goal.

I know this route well because it was my strategy for our SportsShade Canopy Awning product.     You can make more money in the long run, but the path is normally much more costly and difficult than you expect.   Having a strong background in business. strong capital reserves and a lot of persistence and tenacity.    Access to a pre-established distribution channel and sales teams is a must.  Funding product liability insurance, managing increasing manufacturing costs and expenses. protecting profit when faced with aggressive buyers who are trained to gain discount. managing massive vendor shipping requirements and navigating accounting issues are the norm.   Not to forget merchandising.  It’s one thing to get a product into the store and it’s quite another to merchandise it in a way that makes people buy it.     Single product vendors have a difficult time getting inside retail and doing well, once they do.

Pick Thick

Enter… a conversation with the inventor of PickThick. A product seeing some early sales success in limited distribution.    We like the item for TV and it makes it through three subjective committee reviews and a due diligence market analysis.  We’re ready to contact the inventor and offer a term sheet and licensing agreement with a guaranteed minimum first year royalty of $250,000.     If the product tests well, he makes millions in under a year.  If it fails, then released from the licensing agreement in under 3 months.

He was a very arrogant and rude man with a giant chip on his shoulder.  He said we’re all talking down to him because he’s this very accomplished businessman, which maybe he is????    But…. he’s spouting his relationship with Kevin Herrington from Shark Tank. (Which is the first clue he has no understanding of our industry because everyone inside knows Kevin is mostly selling services now.)

In any case, he seemed peeved that we are all trying so hard to get him on board and gave me a quick, “Don’t call me, I’ll call you.  I’m a very busy man.” brushoff… so…. he has our number and I’m not holding my breath.    As of July 17, 2016, I checked back with him.  He’s selling a whopping $30,000 in revenue a year and missed his window.  There are lots of similar products on the market now.  It hurts me more then it hurts him I think, because I know how much money we both lost, by the delay.

Furnace Friend

Started off rough but ended really well.    It began with him playing coy about his meetings with all the big name buyer (which is almost always a lot more hope, than actual sales opportunity.)   Then he went into the “if it makes sense, I’ll entertain it” mantra.    Even so, I pressed in and connected with him because I sensed he was a nice man who deep inside knows he needs an opportunity break.

Once the walls came down and I sensed we were having real conversation rather than guarded salesmanship, it really went well.   I called from the Will It Launch office and hunted Ed down, then had a three way call, where Ed was stellar and Paul was honest.     It ended with Ed agreeing to send the term sheet for Paul to review.    Seems like the product, inventor and investor may be a great match.    I liked the whole thing and believe the product has a real chance.

write to me at carrie@inventiveideas.com and let’s see if the next winner can come from you!

See you on the shelves!

Carrie Jeske

ASOTV Licensing

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So many inventors spend hours of time, money and energy worrying about the wrong things.     

I’m talking about Manufacturing, Warehousing and Order Fulfillment. 

 To launch a new product successfully these things are important.

However, they are not the most important considerations and often take care of themselves once you have a product consumers want to buy.

Winning As Seen On TV (ASOTV) products are not rocket science.  The materials and components tend to be simple.  This makes making molds and product design much faster.   In addition, the relationships between manufacture and marketer are long standing and maximize speed.

Materials management and economies of scale is easy.    Inventors need not worry about the production of the product, unless they want to.

Likewise, warehousing is not an issue.   Our partners, strategic allies and service providers have all the space needed and are well equipped to handle storage, as well as just in time inventory demands.     Order fulfillment is handled by professional and reputable partners who are fully equipped to take and manage millions of products a year, both direct to consumer and wholesale to mass market retailers such as Walmart, CVS, Walgreens, Bed, Bath & Beyond and more.

Dont Waste Time On Manufacturing!

Inventors often waste valuable time and energy pouring over the methods and cost of manufacturing, warehousing and order fulfillment.  

When done right, the costs of these important steps is a zero sum expenses since consumer purchases, along with shipping and handling costs are covered with each order taken. 

Plus, for products in the As Seen On TV category run in short form (120 second) tv commercials.

The retail price point is rarely over $39.95 so a quick look at materials from an experienced eye can usually ballpark costs quickly.

What inventors should spend the majority of their time, energy, talent and money on, is coming up with a solid marketing pitch. Really taking time to gain critical product feedback from non biased consumers and working to narrow exclusive benefits that spark a purchase is the second most important task of the inventor.  

Of course, the first is actually inventing the product, but that’s debatable since good marketing has skyrocketed.

Many products otherwise sitting with average sales on store shelves and in catalogs.    

Consider Magic Mesh, a product selling in Australian direct mail catalogs.

For two years prier to Will It Launch discovering the magic of the magnetic click, click, click to ignite consumer orders.  

Even today, with knock-offs everywhere, the product continues to break records. 

In the ASOTV category, the inventor goal is a successful market viability test.    Finding a product that solves a problem consumers are willing to pay to solve takes creativity.    Discovering a “Wow” factor or creating something visually appealing that inspires interest is the goal.  

 The more the inventor can do to learn these techniques and add sizzle to their pitch, the better.    Get that right, and everything else will take care of itself.

See you on the shelves,

Carrie Jeske

www.WillItLaunch.com

©2015 Jeske.   All rights reserved.  For reprint rights contact Carrie Jeske at carrie@inventiveideas.com

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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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By David Koehser, attorney with comments by Carrie Jeske of Inventive Ideas.

A licensor who does not want to spend time identifying and soliciting potential licensees and administering a licensing program may want to engage a licensing agent.

Functions of the Licensing Agent

An agent’s functions include identifying potential licensees for the licensor’s property, representing the property at appropriate trade shows.

Presenting the property and licensing proposals to potential licensees, and negotiating license agreements.

Some agents may also help the licensor develop and position its properties so that they will be suitable and attractive candidates for licensing.

In most cases, the agent will administer the license by receiving and reviewing licensed product samples and collecting and accounting for royalties and other payments.

In some situations, the licensor may prefer to receive samples directly.

and may want to receive all payments and remit the commission to the agent.

Scope of the Licnese Agency

The licensing agent agreement should list or define the properties that the agent will be authorized to represent. As well as the product lines and territories covered by the agreement.

Some properties may have potential for publishing, software, film or other uses beyond the typical merchandise categories. The licensor may want to exempt those uses from the agent relationship. Particularly if the agent does not have any experience or track record in securing licenses in those areas.

Inventive Ideas has exclusive agreements with the As Seen on TV distribution channel. As well as connections to licensors and product buyers in many industries.

Exclusivity

Most agent appointments will be exclusive. This means that the agent is the only agent that can represent the licensor. Under an exclusive agency.

The agent will be entitled to a commission from any license entered into during the term of the relationship.

Regardless of whether the license resulted from the efforts of the agent, the licensor or some third party.

Ownership and Control

The licensor should always retain ownership of the property and should have final approval over all license terms. The licensor should also sign all license agreements and retain final approval rights over all artwork and product prototypes and samples.

The agent should never acquire any interest in the property, and should not be a party to any license agreement.

And payments on behalf of the licensor.

Commissions and Expenses

Commissions for licensing agents generally average between 30% to 40% of gross licensing revenue. And may run as high as 50%. In addition, some agents require the licensor to pay part or all of certain expenses incurred by the agent in representing the licensor. These expenses may include trade show costs, costs of creating promotional packages and display and solicitation materials, travel costs and legal fees. In addition, the licensor may want the right to approve all expenses in advance. Also you may want to impose a cap on the total amount of expenses for which it will be responsible.

Inventive Ideas charges between 30% and 50%.

Depending upon the stage of the product and quality of the marketing materials, brand and message already established.    We won’t ask for expense reimbursement, unless pre-approved, in writing.   A licensing agreement can be achieved without exhibiting at trade shows since our network is pre-established. Once an agreement with a licensee be reached. 

Term

Most agents require a minimum initial term of two or three years, since it often takes that long to develop a property, find licensees and begin to receive royalties. The licensor will usually have to concede on this point, but may be able to get the right to terminate the agreement earlier if certain performance benchmarks.

Such as a minimum amount of royalty income or a minimum number of new licenses.

If they are not reached by a specified point in the term.

Inventive Ideas works in the fast paced medium of TV.

For traditional brick and mortar businesses, the product development cycles are 2-5 years before new concepts land on store shelves.

so the term of our agreement must accommodate that fact.  

Renewal

The agent will not want to invest a substantial amount of time and effort on the licensing program unless it will have the opportunity to stay around and reap the rewards from that investment. Accordingly, the agent will usually want an option to renew the relationship for one or more additional terms. Typical renewal options include: (i) automatic renewal, unless either party gives notice by a certain date before the end of a term; (ii) renewal solely at the option of the agent. Or (iii) automatic renewal or renewal solely at the agent’s option

Inventive Ideas agreements renew when email documentation proves that there is interest to move forward from a specific licensee.   If no progress is being made in the form of calls and active communication.

The agreement is canceled in 90 days.

Termination of Authority

Under the common law of agency, the licensor can terminate the licensing agent’s authority to act on behalf of the licensor at any time. However, the licensor cannot terminate the agent’s right to receive commissions from licensing deals entered into during the term of the agreement. A licensor who terminates an exclusive agent’s authority to act and retains another agent before the end of the term of the agreement.

With the first agent will be liable for the payment of commissions to both agents for deals entered into during the balance of the term of the original agent agreement. And may also be liable for double commissions after the end of that term. (See paragraph 10 below.)

Termination of Agreement

An licensing agent cannot guaranty the success of a property. However, the licensor should always have the right to terminate the agreement if the agent fails to pay net royalties to the licensor within the time required under the agreement or enters into any license agreement without the licensor’s approval. 10. Post Termination.

They can be the source of major disputes when that relationship ends.

In general, an agent will feel that the success of a licensor’s program is a direct result of the agent’s efforts. And the agent will want to continue to be compensated for those efforts even after the agency relationship has ended. A licensor, on the other hand, will likely be reluctant to continue paying commissions to an agent who is no longer providing services. Especially if the licensor has to retain and pay another agent to continue the program. Some alternatives for addressing these competing concerns are as follows:

Excellent issues that should be addressed in any licensing agreement.

• After termination, the agent will still be entitled to receive commissions from all licenses entered into during the term of the agreement.
• (including all renewals, extensions or modifications of those licenses) .
• All licenses that were under active negotiation at the end of the term are entered into within some specified period of time
• (usually six months) after termination.

• The licensor may want the agent to provide a list of all licenses under negotiation that will be subject to commissions if entered into within the six month post termination period. In addition, the licensor may want to specify that commissions on renewals.
• Or will apply only to the portions of the license originally negotiated by the agent. Not to any additional properties or product lines added after the termination of the agency relationship.
• The agent’s commissions continue after termination, as provided above, but at a declining rate. (e.g., 40% for the first year after termination, 30% for the second year, and 20% thereafter).

• This reflects the fact that the agent will no longer be searching for licensing opportunities. In most cases, will no longer be administering existing licenses or collecting royalties.
• The agent’s right to commissions ends on a final date (e.g. 3 – 4 years after termination), even if agreements originally negotiated by the agent are still in place at that time. In addition to questions regarding post termination commissions. The issue of who receives royalties after termination can be difficult to resolve. The licensor will usually want to have all royalties from existing licenses paid directly to the licensor, or to the licensor’s new agent. However, the previous agent may want to continue to receive those royalties. And thus insure that it will get its commission.

Assignment

In many cases, the licensor enters into an agent relationship as a result of the licensor’s confidence in the individual agent who will be handling the licensor’s account. Accordingly, the licensor will want the right to terminate the agreement if that agent ceases to handle the account for any reason. Licensors and their agents should resolve the above issues in a written agreement before beginning an agency relationship.

This is excellent information found at:     http://www.dklex.com/the-role-of-licensing-agents.html

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