Inventing Home Run or Single Income Product?
As Seen On TV Invention Process
1) Make a working prototype.
2) Make a short demo video and post “unlisted” on YouTube.
3) Submit the link to me, as a “First Look” sneak peak. I’ll give you feedback.
4) We’ll do a proprietary market test with real consumers the final judge.
5) We’ll produce a 2 minute TV commercial test. Then do nationwide full media campaign.
6) We’ll manufacture and roll it into Walmart, CVS, Walgreens and ASOTV shelf space everywhere.
7) You’ll be paid royalties or finders fees. Mailbox money!
Mass Market or Niche Product?
ASOTV is a home run play. The fastest, least expensive way to hit it big in products. It’s the best, first choice. A small royalty can equal millions paid to the inventor.
If at any stage, your product fails, you’ll have options. As Seen On TV is simply the first and best distribution channel for physically small, low cost items that solve an everyday problem.
If mass market consumers don’t resonate with the product or the problem/solution, it’s time to move to niche markets. Niche markets generally won’t sell as many units per year or make as much in royalties as a mass market item; but sometimes they do. Plus, $20,000 to $150,000 a year in royalties is still a pretty good part time inventing job to have. For more help, see Inventive Ideas.
The goal of every product idea, is to find where products are purchased, in the highest volumes, and by whom? Then, license the concept to a manufacture/distributor in that area. Simple, right?
Marketing has the same challenges for companies and inventors. Find your niche before running out of cash! That’s why it’s so nice when the ball goes out of the park with the first ASOTV shot. If it doesn’t, you’re not done batting and the game isn’t over. Keep inventing.
You Bet Your Instincts
It’s my belief that the inventors instincts are critical. Find a place of peace, once you have all the data, then reflect on it soberly. You’re hearing the good and bad responses to your product and seeing the sales, which are the ultimate guide. Everyone likes a product till you ask them to buy it. Sales are the true reflection of interest. Keep in mind, you’re looking for the target market of people who “buy” it, not who just “like” it.
The next consideration is cash. Every bet you place depletes capital and everything costs either money, time or both. You have to hear the feedback you’re getting from consumers and make go/no go decisions along the way. Not every product idea will make it. In fact, most fail to produce a financial return. Knowing when to push forward and when to let go is a tough decision.
That’s one reason I like the ASOTV testing process. It’s void of emotion and measures consumer responsiveness to a specific product pitch at a specific time in history. Results may vary with product variations and timing, but at lease we learn fast what will and will not fly today.
There’s no way of knowing if product redesigns, features pitched or creative will change the outcome. No way to predict which path is lucrative and which are not. I’ve seen every manner of success and failure with seemingly right and wrong choices. No one can predict what consumers will buy or not buy. Product success is a perfect storm of the 7 P’s: Product, Price, Promotion, Placement, Packaging, Position, People.
You can work with WIL in several ways: Full Licensing Agreement, Partnership.
Distribution Plans, or Consulting. To find out which is best for you, just contact ask. Let’s swing for the fences together!
Hope this helps. I’m a long term relationship person who values loyalty, trust and hard work. If that’s you, let’s connect.
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