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Re: From The Inventor Blog
by Mark Reyland » Tue Feb 15, 2011 6:39 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
Arkansas Inventors - Doing Art!
We’ve all heard of the Mickey Mouse Club, Club Soda, and even Golf Clubs. But in the world of inventing there is a much more important use of the word “Club” - it’s the inventor club.
With over 150 inventor clubs across the country, this once a month gathering of intellect and creativity is not only a fellowship of like minded people, but an outlet for creativity and great source of knowledge.
The UIA has long supported the Inventor Clubs in every way we can, providing speakers, equipment, sponsors and advice – but we can’t do everything, and many of the clubs need help. That’s where you come in.
We were contacted by the Arkansas Inventor’s Network and asked to get the word out about a NON PROFIT FUNDRAISING PROGRAM they developed to help support the cost of renting meeting space and obtaining educational materials for their members.
It’s called Patents-As-Art, and it’s a really neat way to proudly display your patent or give the gift of a framed famous patent to that that inventor in your life. http://www.arkansasinvents.org/sponsors.php
Innovation and Inventing is a big part of what made America great, and it started in basements, garages, and barns all over the country. We should do whatever we can to help and support the individual inventor and the local inventor clubs, as they work hard to bring society the new technologies and products that will take us long into the future.
Support your local inventor club – Join or donate today!
We’ve all heard of the Mickey Mouse Club, Club Soda, and even Golf Clubs. But in the world of inventing there is a much more important use of the word “Club” - it’s the inventor club.
With over 150 inventor clubs across the country, this once a month gathering of intellect and creativity is not only a fellowship of like minded people, but an outlet for creativity and great source of knowledge.
The UIA has long supported the Inventor Clubs in every way we can, providing speakers, equipment, sponsors and advice – but we can’t do everything, and many of the clubs need help. That’s where you come in.
We were contacted by the Arkansas Inventor’s Network and asked to get the word out about a NON PROFIT FUNDRAISING PROGRAM they developed to help support the cost of renting meeting space and obtaining educational materials for their members.
It’s called Patents-As-Art, and it’s a really neat way to proudly display your patent or give the gift of a framed famous patent to that that inventor in your life. http://www.arkansasinvents.org/sponsors.php
Innovation and Inventing is a big part of what made America great, and it started in basements, garages, and barns all over the country. We should do whatever we can to help and support the individual inventor and the local inventor clubs, as they work hard to bring society the new technologies and products that will take us long into the future.
Support your local inventor club – Join or donate today!
Re: From The Inventor Blog
by Mark Reyland » Wed Feb 16, 2011 6:32 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
My kids need a Nanny!
I run into talented and dogged inventors all the time. Such was the case with Dave Hamann and Tom Nerswick who I met recently at the Cincinnati inventors club.
Because I find it fascinating, and because it’s so inspirational to other inventors, we often ask inventors to tell us their story…so, this is the inventing story of Snack Nanny.
Background
Tom Nerswick and I were friends at a local gym, when Tom learned that I was an inventor and designer. He approached me for my opinion of his new product idea – a spill proof snack bowl for children. He showed it to me as a “breadboard” model made from a potato salad bowl from the deli, with a hole cut in the lid and a flap screwed to the underside.
I loved the idea and helped Tom refine it, making it safe to use and easy to clean. I also conceived the name, “Snack Nanny”; helped Tom through the development and patenting process; and ultimately partnered with Tom to commercialize it. We formed Apex Product Development LLC, Trademarked the name “Snack Nanny”, and we are now selling the Snack Nanny® by Apex on our website snacknanny.com and on Amazon.com.
Why I invented the Snack Nanny® – Spill Proof Bowl by Tom Nerswick
I am a parent of six children under the age of 7. This is very challenging in many ways. One of my biggest challenges is to keep my home clean while allowing my children to snack. Another challenge is teaching my children to eat in moderation. One summer evening when only 3 of my 6 children had been born these two challenges came to a head. I saw my 3-year-old twin daughters eating as quickly as they could with both hands, while my 2-year-old daughter wore her snack bowl as a hat upside down on her head. It was such a shock, I first sat back and laughed. It was a true camera moment. But then, being the parent, I knew that I needed to step up and help them learn to eat in moderation and without spilling – for everybody’s benefit. These three young girls were trying their best to do the right things and were so proud of their accomplishments…
As I watched, I saw a solution to our problem. The girls needed a spill proof bowl. So I rushed to the kitchen and grabbed a plastic bowl with a snap-on lid and I cut a U-shaped slit in the top. This created a flap that could be pushed in and come back to its closed position. I gave my new invention to the girls and it worked great! They were no longer able to eat with two hands or wear their bowls on their heads. And of course, there were no more spills. This ended up saving us money, since before, we were always throwing out spilled snacks. Even more, it saved the time and energy we spent vacuuming after every snack.
Eventually, I had the bowl professionally designed and engineered by David Hamann Design. Together, we created a product with a Smart Door Design™ that prevents spills, controls portions and teaches independence. And now it is in full production and on the market, as the Snack Nanny®.
What a relief. I am now able to enjoy my evenings with the kids. I grab the bowl directly from the shelf, full of snacks, and simply put it back when the kids are done.
Those enjoyable times long ago with my three daughters are the main reason why we now have three more children. Thanks, girls, for learning to eat right. Now we have six beautiful children and you have three brothers, as a testament to the Snack Nanny and its results.
My hope is that all parents can have great snacking experiences with their children, as I have with mine – thanks to the Snack Nanny®. To learn more visit http://www.snacknanny.com
I run into talented and dogged inventors all the time. Such was the case with Dave Hamann and Tom Nerswick who I met recently at the Cincinnati inventors club.
Because I find it fascinating, and because it’s so inspirational to other inventors, we often ask inventors to tell us their story…so, this is the inventing story of Snack Nanny.
Background
Tom Nerswick and I were friends at a local gym, when Tom learned that I was an inventor and designer. He approached me for my opinion of his new product idea – a spill proof snack bowl for children. He showed it to me as a “breadboard” model made from a potato salad bowl from the deli, with a hole cut in the lid and a flap screwed to the underside.
I loved the idea and helped Tom refine it, making it safe to use and easy to clean. I also conceived the name, “Snack Nanny”; helped Tom through the development and patenting process; and ultimately partnered with Tom to commercialize it. We formed Apex Product Development LLC, Trademarked the name “Snack Nanny”, and we are now selling the Snack Nanny® by Apex on our website snacknanny.com and on Amazon.com.
Why I invented the Snack Nanny® – Spill Proof Bowl by Tom Nerswick
I am a parent of six children under the age of 7. This is very challenging in many ways. One of my biggest challenges is to keep my home clean while allowing my children to snack. Another challenge is teaching my children to eat in moderation. One summer evening when only 3 of my 6 children had been born these two challenges came to a head. I saw my 3-year-old twin daughters eating as quickly as they could with both hands, while my 2-year-old daughter wore her snack bowl as a hat upside down on her head. It was such a shock, I first sat back and laughed. It was a true camera moment. But then, being the parent, I knew that I needed to step up and help them learn to eat in moderation and without spilling – for everybody’s benefit. These three young girls were trying their best to do the right things and were so proud of their accomplishments…
As I watched, I saw a solution to our problem. The girls needed a spill proof bowl. So I rushed to the kitchen and grabbed a plastic bowl with a snap-on lid and I cut a U-shaped slit in the top. This created a flap that could be pushed in and come back to its closed position. I gave my new invention to the girls and it worked great! They were no longer able to eat with two hands or wear their bowls on their heads. And of course, there were no more spills. This ended up saving us money, since before, we were always throwing out spilled snacks. Even more, it saved the time and energy we spent vacuuming after every snack.
Eventually, I had the bowl professionally designed and engineered by David Hamann Design. Together, we created a product with a Smart Door Design™ that prevents spills, controls portions and teaches independence. And now it is in full production and on the market, as the Snack Nanny®.
What a relief. I am now able to enjoy my evenings with the kids. I grab the bowl directly from the shelf, full of snacks, and simply put it back when the kids are done.
Those enjoyable times long ago with my three daughters are the main reason why we now have three more children. Thanks, girls, for learning to eat right. Now we have six beautiful children and you have three brothers, as a testament to the Snack Nanny and its results.
My hope is that all parents can have great snacking experiences with their children, as I have with mine – thanks to the Snack Nanny®. To learn more visit http://www.snacknanny.com
Re: From The Inventor Blog
by Mark Reyland » Fri Feb 18, 2011 7:26 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
Let's just ask Karen...
UIA Medallion Member Karen Waksman is a professional sales rep, author, and product coach who takes the time to answer inventor questions about distribution and sales.
If you’re new to the game of selling to major retailers, then you’re probably wondering how their buying processes work. It’s a question that comes up all of the time in this business so I thought I’d take a minute to explain a few of the key parts.
Let’s start by answering some of the most common questions Inventors ask…
1) Are major retail buyers responsible for purchasing only one type of product or a variety of different types of products?
The way it works at Major Retailers is that each buyer is responsible for a particular product line - and in the retail world, a product line is called a ‘category.’ So if a Buyer is responsible for toy products, his/her category would likely be “Toys” Although it may also be Toys & Games.
So think of the major categories of retail products, and those are the most likely buyers a retailer will have. However, like most rules this one has it’s exceptions and the most noted exception to this rule is “Checkout” or “Front End” buyers. These buyers are responsible for buying the impulse and feature products you find in the checkout lanes and the front area just prior to the lanes.
2) Is a major retail buyer responsible for purchasing products for all of their stores or just a few stores?
Typically, each major retail buyer purchases products for all of their stores. This is great for you! One buyer, one point of contact!
However, there are exceptions to this rule. Nordstrom, for instance, has regional buyers. In other words, they have buyers that are responsible for purchasing products for a particular region ie Northwest, Southeast, etc. However, in each region, buyers still have their own categories.
3) Are buyers located at a corporate office or are they dispersed throughout the country?
Most major retailers have one main corporate buying office. Although in the example above, Nordstrom has regional buying offices.
Additionally, some Major Retailers have local buying programs. This basically means that they give Store Managers the ability to purchase products for their individual stores. Wal-mart for instance, has a local buying program for some of their really high-traffic retail stores or for products made in the local area.
Although this is rare for Major Retailers to offer this, some do have local buying programs! So how do you know if your local store offers this program? Just ask the Store Manager! They will tell you!
4) How do I know find the names and categories of major retail buyers that would be responsible for purchasing my product?
The easiest way to get access to a major retail buyer’s name and category information is to purchase a list from companies such as The Chain Store Guide and/or The Salesman's Guide. These company's sell buyer's contact information either in book form as well in a database form. They can be a little pricey, so one suggestion is to check out your local library to see if they have these books available for free!
____________________________________________
Karen Waksman is a seasoned product sales rep who teaches inventors how to approach retail buyers and position their products for the market. You can ask Karen questions about retail sales at Karen@productforprofit.com http://www.productforprofit.com/
UIA Medallion Member Karen Waksman is a professional sales rep, author, and product coach who takes the time to answer inventor questions about distribution and sales.
If you’re new to the game of selling to major retailers, then you’re probably wondering how their buying processes work. It’s a question that comes up all of the time in this business so I thought I’d take a minute to explain a few of the key parts.
Let’s start by answering some of the most common questions Inventors ask…
1) Are major retail buyers responsible for purchasing only one type of product or a variety of different types of products?
The way it works at Major Retailers is that each buyer is responsible for a particular product line - and in the retail world, a product line is called a ‘category.’ So if a Buyer is responsible for toy products, his/her category would likely be “Toys” Although it may also be Toys & Games.
So think of the major categories of retail products, and those are the most likely buyers a retailer will have. However, like most rules this one has it’s exceptions and the most noted exception to this rule is “Checkout” or “Front End” buyers. These buyers are responsible for buying the impulse and feature products you find in the checkout lanes and the front area just prior to the lanes.
2) Is a major retail buyer responsible for purchasing products for all of their stores or just a few stores?
Typically, each major retail buyer purchases products for all of their stores. This is great for you! One buyer, one point of contact!
However, there are exceptions to this rule. Nordstrom, for instance, has regional buyers. In other words, they have buyers that are responsible for purchasing products for a particular region ie Northwest, Southeast, etc. However, in each region, buyers still have their own categories.
3) Are buyers located at a corporate office or are they dispersed throughout the country?
Most major retailers have one main corporate buying office. Although in the example above, Nordstrom has regional buying offices.
Additionally, some Major Retailers have local buying programs. This basically means that they give Store Managers the ability to purchase products for their individual stores. Wal-mart for instance, has a local buying program for some of their really high-traffic retail stores or for products made in the local area.
Although this is rare for Major Retailers to offer this, some do have local buying programs! So how do you know if your local store offers this program? Just ask the Store Manager! They will tell you!
4) How do I know find the names and categories of major retail buyers that would be responsible for purchasing my product?
The easiest way to get access to a major retail buyer’s name and category information is to purchase a list from companies such as The Chain Store Guide and/or The Salesman's Guide. These company's sell buyer's contact information either in book form as well in a database form. They can be a little pricey, so one suggestion is to check out your local library to see if they have these books available for free!
____________________________________________
Karen Waksman is a seasoned product sales rep who teaches inventors how to approach retail buyers and position their products for the market. You can ask Karen questions about retail sales at Karen@productforprofit.com http://www.productforprofit.com/
Re: From The Inventor Blog
by Mark Reyland » Fri Feb 18, 2011 7:30 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
The place to be for Inventors!
Inventor 411 is an education and networking event for inventors and entrepreneurs. Featuring topics of special interest to those individuals trying to develop, manufacture, market or license their ideas. After the last class, you are invited to network with our guest speakers.
“What You Need to Know About Licensing Your Invention" 9:00-9:55am
Licensing is an effective and potentially profitable way of capitalizing on your invention. Today licensing is a well-recognized and fast growing business. Dr. Dariush Adli, Ph.D., Esq., is the founder and President of Adli Law Group P.C. He is an experienced attorney and expert on Intellectual Property Law. His class will provide the answers to the common legal questions asked by inventors regarding the licensing structure
“The Secrets to Creating Your Million Dollar Product on a Low Cost Budget” 10:00-10:55am
Learn insider secrets to creating million dollar products quickly and affordably from international product expert, Amy Wenslow. Big companies use these secrets everyday. You can too. Amy is Founder and CEO of Products to Profits. Amy has over 21 years experience in product development, sales and management for consumer goods.
“Prime Your Presentation Skills” 11:00-11:55 am
Being able to present yourself and your product is an essential skill for entrepreneurs at any level. Learn how to tailor your presentation to what corporate executives need to know and want to hear
This class is presented by Tom Otstot , Sr. Vice President and Director of U.S. Operations for Grand Bonanza Enterprises, Inc.; a global product design, development, and sourcing company serving the retail industry worldwide. Tom’s career in the Consumer Products Industry spans over 25 years in the areas of Executive Management, Branding, Licensing, Sales, Marketing and Product Development
Bringing People & Products Together 12:00-12:55pm
Developing products people will buy, and Retailers will carry! Presented by Kim Babjak: founder of KimCo LCC, a retail distribution company
Direct Response TV Marketing--An Overview 1:00-1:55pm
Presentation features DRTV professionals Scott Hynd of Proformance Marketing and Wendi Cooper of C Spot Run Productions discussing different aspects of the industry including home shopping, infomercials, and more.
More and more direct response marketing-- on television and on-line is a viable alternative for inventors looking to launch their new products and create name recognition. Is this industry the right choice for you? Is your product right for this industry? What do you need to know to safely navigate the waters in the world of DRTV?? This class will feature experts in the various forms of the industry sharing their wealth of knowledge and experience working with inventors like you!
Sponsored by
Lenfest Media - Invention Home - Inventors Digest - Products to Profits - Products to Profits - AllStar Marketing - Proformance Marketing & Response Magazine
For more information on Inventor 411 go to http://www.brainchildmarketing.biz/inventor_911_8.html
Inventor 411 is an education and networking event for inventors and entrepreneurs. Featuring topics of special interest to those individuals trying to develop, manufacture, market or license their ideas. After the last class, you are invited to network with our guest speakers.
“What You Need to Know About Licensing Your Invention" 9:00-9:55am
Licensing is an effective and potentially profitable way of capitalizing on your invention. Today licensing is a well-recognized and fast growing business. Dr. Dariush Adli, Ph.D., Esq., is the founder and President of Adli Law Group P.C. He is an experienced attorney and expert on Intellectual Property Law. His class will provide the answers to the common legal questions asked by inventors regarding the licensing structure
“The Secrets to Creating Your Million Dollar Product on a Low Cost Budget” 10:00-10:55am
Learn insider secrets to creating million dollar products quickly and affordably from international product expert, Amy Wenslow. Big companies use these secrets everyday. You can too. Amy is Founder and CEO of Products to Profits. Amy has over 21 years experience in product development, sales and management for consumer goods.
“Prime Your Presentation Skills” 11:00-11:55 am
Being able to present yourself and your product is an essential skill for entrepreneurs at any level. Learn how to tailor your presentation to what corporate executives need to know and want to hear
This class is presented by Tom Otstot , Sr. Vice President and Director of U.S. Operations for Grand Bonanza Enterprises, Inc.; a global product design, development, and sourcing company serving the retail industry worldwide. Tom’s career in the Consumer Products Industry spans over 25 years in the areas of Executive Management, Branding, Licensing, Sales, Marketing and Product Development
Bringing People & Products Together 12:00-12:55pm
Developing products people will buy, and Retailers will carry! Presented by Kim Babjak: founder of KimCo LCC, a retail distribution company
Direct Response TV Marketing--An Overview 1:00-1:55pm
Presentation features DRTV professionals Scott Hynd of Proformance Marketing and Wendi Cooper of C Spot Run Productions discussing different aspects of the industry including home shopping, infomercials, and more.
More and more direct response marketing-- on television and on-line is a viable alternative for inventors looking to launch their new products and create name recognition. Is this industry the right choice for you? Is your product right for this industry? What do you need to know to safely navigate the waters in the world of DRTV?? This class will feature experts in the various forms of the industry sharing their wealth of knowledge and experience working with inventors like you!
Sponsored by
Lenfest Media - Invention Home - Inventors Digest - Products to Profits - Products to Profits - AllStar Marketing - Proformance Marketing & Response Magazine
For more information on Inventor 411 go to http://www.brainchildmarketing.biz/inventor_911_8.html
Re: From The Inventor Blog
by Gizmo » Thu Feb 24, 2011 7:30 am
- Gizmo
- Blue Belt
- Posts: 430
- Joined: Mon Jan 26, 2009 6:40 am
- Location: Florida
Mark Reyland wrote:Hmmm….That’s a good question!
Early in my career I had a sales call with a potential licensee. The call was going great. The licensee recognized the value in my client’s intellectual property. He was talking to me about how he saw the patents developing into a full line of products. We spoke of how his current distribution was perfect for the yet to be developed product. I was encouraged about the opportunity and I was feeling pretty good about the hours and hours of work it took to get ready for this one call.
A 16 page product prospectus - dripping with great graphics, photos of the prototypes, graphs and charts, awesome financials, formal market research, competitive product analysis, and superbly written text. My ducks were in a row and quacking - I nailed it. I made a case for my client’s project that Perry Mason couldn’t poke a hole in.
Then the rubber met the road. The prospective licensee asked the Magic question, “What did I want for the patent?”
I went into my normal pitch about how my client understood that licensees typically take most of the risk and therefore they deserve to make the lion share of the profits. I pointed out how my client knew the rewards he would receive in the form of royalties would be based on how often the ultimate product judge and jury, consumers, felt inclined to purchase this soon to be product. I hate to brag but boy was I on a roll. I hit it all. I had convinced the licensee I had a great product. I made sure he knew my client would be easy to work with but that he was also aware of what standard industry financial terms should look like. Then I get the curveball question.
“But if I didn’t want to license the patent, how much would you sell the patents for outright?”
I wasn’t ready for that one. It hadn’t occurred to me that buying these unproven patents outright was even being considered. First of all I was so busy selling my plan I forgot to consider that someone else may take another path to commercialization. To me licensing almost always makes the most sense however what makes sense to me doesn’t always matter.
Unfortunately I didn’t have an answer. All I could come up with was that we hadn’t considered that option yet because we knew that typically the best way to maximize the value of a patent was through sharing in the long term success of it rather than just a onetime payment. Especially for a consumer product patent who hadn’t proven itself in any way.
The conversation did get interesting from there though. The licensee was probing trying to figure out about how much my client had invested in the product. Once the buyer felt like he had a good grasp of the number he then pitched out that he might be interested in buying the patent for roughly five times what my client had spent to date.
In most worlds this would be a slam dunk. If you bought a car two years ago and could turn it around for five times what you purchased it for you would do back flips. Take a house for example, or a dog, a skateboard, or a company, anything really.
But for some reason it doesn’t seem nearly as attractive when we are speaking about patents. Why is that? Why don’t we treat technology transfer like other industries? Why do we treat creations of the mind so differently? Everyone wants a million dollars for their IP. It makes me question what would happen if we all treated real estate the same way. “I know the market value of my house today is 100k however I want you to pay me 500k because it will surely increase in value over the next twenty years.” If you made five times your money by putting it in the bank you would jump for joy.
I guess what I’m saying is – First, treat your Intellectual property like a business. Don’t be so emotionally attached to it. There is a very good chance that you could miss out on a great business opportunity if you can’t figure out how to separate yourself. Second, listen to your potential licensee or buyer. Don’t get so caught up in being proud of your work that you overlook key points that will help you put a deal together.
The customer usually tells you how to sell to them, if you just take the time to listen.
In addition to being a huge supporter of the UIA and the inventor community – Kenny Durham is the CEO of Innovators Warehouse and one of the most successful product deal makers in the industry. http://www.innovatorswarehouse.com/
I
/n addition to being a huge supporter of the UIA and the inventor community – Kenny Durham is the CEO of Innovators Warehouse and one of the most successful product deal makers in the industry. http://www.innovators warehouse.com
Im confused...... What the hell does Kenny Durham with InnovatorsWarehouse have to do with this post. Looks to me like its advertisement for his company. Spam
Hmmmm......Thats even a better Question
I personally dont know Kenny personally or anything about his company and not about to judge him.My post has nothing to do with him. I do know there are some things being questioned on EN though.
http://tinyurl.com/4wevok7
Over on another forum Stephen Key is getting slammed by one of our well know members for pushing his new book on this site,and its not a problem this blog author gets to push his friend here.
Looks one sided to me.............
Michelle & Scrup,,,please dont remove this post