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Re: From The Inventor Blog
by jackbnimble56 » Tue Dec 28, 2010 8:00 am
-
jackbnimble56 - Brown Belt
- Posts: 860
- Joined: Thu Mar 26, 2009 11:28 am
- Location: Massachusetts
Mark
Thank you for your kind words but as I often tell people, I think you give me WAY too much credit! The Magic Toob product has been an adventure in more ways than one but I honestly couldn't see myself doing anything else at this point in my life.
I recently started posting on the Edison Nation site and those guys keep me VERY busy! Suddenly I find myself getting a tiny taste of what it must be like to be Roger Brown! LOL! But I feel a little guilty that I've been neglecting Inventor Spot. One of my New Years resolutions is to try and maintain a better level of posting here as well. Sooo... with that in mind, stay tuned!
Jack
Thank you for your kind words but as I often tell people, I think you give me WAY too much credit! The Magic Toob product has been an adventure in more ways than one but I honestly couldn't see myself doing anything else at this point in my life.
I recently started posting on the Edison Nation site and those guys keep me VERY busy! Suddenly I find myself getting a tiny taste of what it must be like to be Roger Brown! LOL! But I feel a little guilty that I've been neglecting Inventor Spot. One of my New Years resolutions is to try and maintain a better level of posting here as well. Sooo... with that in mind, stay tuned!
Jack
Nimble Jack Enterprises - Innovative Solutions to Everyday Problems
To purchase the Magic Toob product visit: http://www.magictoob.com/
To purchase the Magic Toob product visit: http://www.magictoob.com/
Re: From The Inventor Blog
by Mark Reyland » Wed Dec 29, 2010 6:40 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
I'm in Need....
I’m in Need…..or at least that’s what Maslow tells me.
Maslow's hierarchy of needs is a theory in psychology, proposed by Abraham Maslow in a 1943 paper he wrote called,”The Theory of Human Motivation”
Maslow studied what he termed “exemplary people” such as Albert Einstein, Jane Addams, Eleanor Roosevelt, and Frederick Douglass rather than mentally ill or neurotic people like most psychological studies. The resulting theory was simple and often expressed in the pyramid shape referred to as Maslow’s hierarchy of need.
But what does this all mean to an inventor?
At its core - the act of inventing (or innovating if you’re not good with your hands) is about filling need, much like Maslow we are guided by a set of consumer needs that fall into a hierarchy of what the consumer is likely to purchase. Those needs are translated into emotion and as we all know, emotion is almost always the catalyst for purchasing.
For many years now courses in marketing have taught Maslow's hierarchy as one of the first theories for understanding consumers' motives for action. Marketers have historically looked towards consumers' needs to define their purchasing motivations in both individual purchases and trend purchasing.
It’s a simple theory – if we as inventors design products meeting consumer needs, consumers will more often choose those products over those of competitors. Whichever product better fills the void created by the need will be chosen more frequently, thus increasing sales.
Next time you sit down to “invent” a product, think of Maslow, he may be gone now, but if you’re a smart inventor.... he’s anything but forgotten.
I’m in Need…..or at least that’s what Maslow tells me.
Maslow's hierarchy of needs is a theory in psychology, proposed by Abraham Maslow in a 1943 paper he wrote called,”The Theory of Human Motivation”
Maslow studied what he termed “exemplary people” such as Albert Einstein, Jane Addams, Eleanor Roosevelt, and Frederick Douglass rather than mentally ill or neurotic people like most psychological studies. The resulting theory was simple and often expressed in the pyramid shape referred to as Maslow’s hierarchy of need.
But what does this all mean to an inventor?
At its core - the act of inventing (or innovating if you’re not good with your hands) is about filling need, much like Maslow we are guided by a set of consumer needs that fall into a hierarchy of what the consumer is likely to purchase. Those needs are translated into emotion and as we all know, emotion is almost always the catalyst for purchasing.
For many years now courses in marketing have taught Maslow's hierarchy as one of the first theories for understanding consumers' motives for action. Marketers have historically looked towards consumers' needs to define their purchasing motivations in both individual purchases and trend purchasing.
It’s a simple theory – if we as inventors design products meeting consumer needs, consumers will more often choose those products over those of competitors. Whichever product better fills the void created by the need will be chosen more frequently, thus increasing sales.
Next time you sit down to “invent” a product, think of Maslow, he may be gone now, but if you’re a smart inventor.... he’s anything but forgotten.
Re: From The Inventor Blog
by Mark Reyland » Mon Jan 03, 2011 9:23 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
Hard work pays off for inventors
She’s not very tall, and has a very youthful look, but don’t let those things fool you. Lori Barzvi is an inventor, and a dogged on at that.
I first met Lori on Face book when she tracked me down to ask questions about what to do in a deal she was negotiating on her invention “Solemate”. We talked a few times and with very little guidance from me, Lori was quickly mastering the art of negotiating a major license deal.
As an inventor (and avid supporter of the UIA) Lori has worked very hard educating herself on the processes of product development, manufacturing, and now distribution. It’ obviously paying off, in addition to having a very well designed product, she has just launched Solemate in an ASOTV spot with Time Life products.
Here is an email Lori sent me last week about an interesting request she received from her original web site
Hi Mark,
So the other day I received a random email from a woman requesting to order my solemate for Christmas. Since it is not currently on the market and won't be relaunching until January 3rd I had to most regrettably tell her that it wouldn't be possible for Christmas. That was when she mentioned that she was Bo Derek's sister and that she wanted to give one to Bo for Christmas and to her mother as well. Of course that changed things just a little bit. I did my due diligence to make sure I was in fact dealing with Bo's sister and when she offered to send me samples of dog shampoo from Bo's dog shampoo line I knew for sure that I was dealing with the real Bo Derek's sister! Well that and her name in her email and my research on the Internet. At any rate we had the product sent overnight to Bo's sister to ensure it would be there by Christmas.
Kerry (Bo's sister) emailed me the next day when she received the product and this is what she had to say about My Solemate...
“I used mine last night. BRILLIANT! LOVE IT!”
Well, I just can't wait to hear what BO has to say!! I will certainly keep you posted!
It shows that hard work pays off, and that you never know who’s watching. Take a page from Lori’s play book. Educate yourself on what makes a great product, design it well, and develop a strong distribution channel. The invention to commercialization process works, just ask Lori.
Oh – and go buy some Solemates. My wife and Daughter never like anything I invent, but they sure loved Lori’s Solemates - Must be a girl thing. https://www.getmysolemate.com/flare/next
She’s not very tall, and has a very youthful look, but don’t let those things fool you. Lori Barzvi is an inventor, and a dogged on at that.
I first met Lori on Face book when she tracked me down to ask questions about what to do in a deal she was negotiating on her invention “Solemate”. We talked a few times and with very little guidance from me, Lori was quickly mastering the art of negotiating a major license deal.
As an inventor (and avid supporter of the UIA) Lori has worked very hard educating herself on the processes of product development, manufacturing, and now distribution. It’ obviously paying off, in addition to having a very well designed product, she has just launched Solemate in an ASOTV spot with Time Life products.
Here is an email Lori sent me last week about an interesting request she received from her original web site
Hi Mark,
So the other day I received a random email from a woman requesting to order my solemate for Christmas. Since it is not currently on the market and won't be relaunching until January 3rd I had to most regrettably tell her that it wouldn't be possible for Christmas. That was when she mentioned that she was Bo Derek's sister and that she wanted to give one to Bo for Christmas and to her mother as well. Of course that changed things just a little bit. I did my due diligence to make sure I was in fact dealing with Bo's sister and when she offered to send me samples of dog shampoo from Bo's dog shampoo line I knew for sure that I was dealing with the real Bo Derek's sister! Well that and her name in her email and my research on the Internet. At any rate we had the product sent overnight to Bo's sister to ensure it would be there by Christmas.
Kerry (Bo's sister) emailed me the next day when she received the product and this is what she had to say about My Solemate...
“I used mine last night. BRILLIANT! LOVE IT!”
Well, I just can't wait to hear what BO has to say!! I will certainly keep you posted!
It shows that hard work pays off, and that you never know who’s watching. Take a page from Lori’s play book. Educate yourself on what makes a great product, design it well, and develop a strong distribution channel. The invention to commercialization process works, just ask Lori.
Oh – and go buy some Solemates. My wife and Daughter never like anything I invent, but they sure loved Lori’s Solemates - Must be a girl thing. https://www.getmysolemate.com/flare/next
Re: From The Inventor Blog
by Mark Reyland » Tue Jan 04, 2011 7:11 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
You only get TWO!
It’s finished…you have taken your idea and proven your theory, designed the parts, and made a really great prototype. It’s time to manufacture your new product and the rubber is about to hit the road.
You may not realize it, but when manufacturing your product you will be given 3 choices. Fast, Good or Cheap and you can only pick two.
Let’s look at what these choices look like for the manufactured product. In manufacturing Fast refers to the time required to deliver the product, Good is the quality of the final product, and Cheap refers to the total cost of tooling and construction of the product. Now, assemble those into a triangle. This triangle reflects the fact that the three properties of manufacturing your product are interrelated, and it is simply not possible to optimize all three – one of the three will always suffer.
Design something quickly and to a high standard, but then it will not be cheap.
Design something quickly and cheaply, but it will not be of high quality.
Design something with high quality and cheaply, but it will take a long time.
This illustration does not infer that you can never manufacture a quality product, or achieve an aggressive manufacturing schedule, or even produce a low cost part. It simply points out the fact that you can never do all three at the same time.
So what is an inventor to do? The answer is simple – Plan. As you develop your manufacturing strategy you are simultaneously working on several different factors that affect this triangular dynamic. You may be working on an order with a major retailer. This applies pressure to the Fast and Cheap points of the triangle that in turn can force the Good to collapse under the retailer’s pressure. You may also be working on re-design issues (a very common problem) that keep Good in place but force Fast and Cheap to suffer.
No matter the problems or pressures you experience when manufacturing your product, the solution is to always plan properly. That planning process always starts with the variable you yourself can control – Time. By giving yourself enough time you will always be in a position to accommodate Quality and Cost. It’s when you let yourself or others compress Time that you start selling out Quality and Cost.
It’s finished…you have taken your idea and proven your theory, designed the parts, and made a really great prototype. It’s time to manufacture your new product and the rubber is about to hit the road.
You may not realize it, but when manufacturing your product you will be given 3 choices. Fast, Good or Cheap and you can only pick two.
Let’s look at what these choices look like for the manufactured product. In manufacturing Fast refers to the time required to deliver the product, Good is the quality of the final product, and Cheap refers to the total cost of tooling and construction of the product. Now, assemble those into a triangle. This triangle reflects the fact that the three properties of manufacturing your product are interrelated, and it is simply not possible to optimize all three – one of the three will always suffer.
Design something quickly and to a high standard, but then it will not be cheap.
Design something quickly and cheaply, but it will not be of high quality.
Design something with high quality and cheaply, but it will take a long time.
This illustration does not infer that you can never manufacture a quality product, or achieve an aggressive manufacturing schedule, or even produce a low cost part. It simply points out the fact that you can never do all three at the same time.
So what is an inventor to do? The answer is simple – Plan. As you develop your manufacturing strategy you are simultaneously working on several different factors that affect this triangular dynamic. You may be working on an order with a major retailer. This applies pressure to the Fast and Cheap points of the triangle that in turn can force the Good to collapse under the retailer’s pressure. You may also be working on re-design issues (a very common problem) that keep Good in place but force Fast and Cheap to suffer.
No matter the problems or pressures you experience when manufacturing your product, the solution is to always plan properly. That planning process always starts with the variable you yourself can control – Time. By giving yourself enough time you will always be in a position to accommodate Quality and Cost. It’s when you let yourself or others compress Time that you start selling out Quality and Cost.
Re: From The Inventor Blog
by Mark Reyland » Wed Jan 05, 2011 6:49 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
Now On Sale....100% Off
I was having a conversation with a good friend of mine who specializes in selling retail products into the “Secondary” market. It dawned on me that many inventors don’t realize the market is actually divided into 3 main segments – The Primary Market, The Secondary Market, and the Salvage Market. Well it is, so I asked Don Lewis of Lewis Associates of Ohio, Ltd. to explain a little bit about the retailer’s motivations in dealing with the secondary, or closeout, sector of the consumer products market.
Having Sold Closeouts, Excess Merchandise, Overstocks, Buybacks and Package changes for the past 20 + years, I am often asked the question - “ Who buys this kind of merchandise” and “Why”? The answer is simple – Wholesalers, Retailers & ultimately the Consumer; and they buy it for one simple reason – PROFITS.
Of course there are secondary market retailers like Gabriel Bothers, and Big Lots. These retailers work only in the secondary market selling direct import goods and those goods that are excess from the primary market. We don’t often think about it - but normal “big name” retailers often work in the secondary market too.
In fact, buying closeout goods in the secondary market often allows big name retailers to increase their margin of profit between 30 & 60%. This can make up for the many products they carry where they have to “work close” or “give away” in order to drive retail sales. Wal-Mart, K-Mart, Target, Kroger, Dollar General, Family Dollar – they all look to the secondary market to find odd lots, or small runs, of items they can use to offset discounts on regular product sales.
There are however, times when no matter how well an item is priced it just doesn’t sell. This could be due to Marketing, Packaging or Pricing or many other reasons.
When this does happen, typically the products become salvage goods in which case the manufacturer can sell the goods directly to salvage dealers (many of whom have their own retail stores) or they destroy the products and take a tax write off. Some manufacturers choose to just hang on to the good’s for an extended period and hopefully they sell a little at a time – although this option normally doesn’t work very well.
Over the years I have been fortunate to sell closeouts ranging from Foam Footballs, Used Tuxedos, Garden Hoses, Blankets, Food, and many other items. Ultimately the people who benefit most from the secondary market are the consumers, not the retailers, because they end up with a nice product often at a great price.
So keep your eyes peeled for products advertised at your local retailer or on line, as you never know what kind of “Hidden Gem” is floating around in the secondary market for you.
If you have questions about the closeout business or how retailers work, just email Don and ask – He’s a great guy and he loves this business.
Don Lewis, President
Lewis Associates of Ohio, Ltd.
[url]lewisassociates@gmail.com[/url]
I was having a conversation with a good friend of mine who specializes in selling retail products into the “Secondary” market. It dawned on me that many inventors don’t realize the market is actually divided into 3 main segments – The Primary Market, The Secondary Market, and the Salvage Market. Well it is, so I asked Don Lewis of Lewis Associates of Ohio, Ltd. to explain a little bit about the retailer’s motivations in dealing with the secondary, or closeout, sector of the consumer products market.
Having Sold Closeouts, Excess Merchandise, Overstocks, Buybacks and Package changes for the past 20 + years, I am often asked the question - “ Who buys this kind of merchandise” and “Why”? The answer is simple – Wholesalers, Retailers & ultimately the Consumer; and they buy it for one simple reason – PROFITS.
Of course there are secondary market retailers like Gabriel Bothers, and Big Lots. These retailers work only in the secondary market selling direct import goods and those goods that are excess from the primary market. We don’t often think about it - but normal “big name” retailers often work in the secondary market too.
In fact, buying closeout goods in the secondary market often allows big name retailers to increase their margin of profit between 30 & 60%. This can make up for the many products they carry where they have to “work close” or “give away” in order to drive retail sales. Wal-Mart, K-Mart, Target, Kroger, Dollar General, Family Dollar – they all look to the secondary market to find odd lots, or small runs, of items they can use to offset discounts on regular product sales.
There are however, times when no matter how well an item is priced it just doesn’t sell. This could be due to Marketing, Packaging or Pricing or many other reasons.
When this does happen, typically the products become salvage goods in which case the manufacturer can sell the goods directly to salvage dealers (many of whom have their own retail stores) or they destroy the products and take a tax write off. Some manufacturers choose to just hang on to the good’s for an extended period and hopefully they sell a little at a time – although this option normally doesn’t work very well.
Over the years I have been fortunate to sell closeouts ranging from Foam Footballs, Used Tuxedos, Garden Hoses, Blankets, Food, and many other items. Ultimately the people who benefit most from the secondary market are the consumers, not the retailers, because they end up with a nice product often at a great price.
So keep your eyes peeled for products advertised at your local retailer or on line, as you never know what kind of “Hidden Gem” is floating around in the secondary market for you.
If you have questions about the closeout business or how retailers work, just email Don and ask – He’s a great guy and he loves this business.
Don Lewis, President
Lewis Associates of Ohio, Ltd.
[url]lewisassociates@gmail.com[/url]
Re: From The Inventor Blog
by Mark Reyland » Thu Jan 06, 2011 8:07 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
4…
It’s almost here. No, not Christmas or New years, I’m talking about something far more exciting to an inventor. I’m talking about the Professional Golfers Association Merchandise show in sunny Orlando Florida January 27-29th 2011.
The PGA show is a huge show where anyone who’s anyone in the sports industry shows up to see the latest in new merchandise and new innovation for both the Golf and Golf Support categories. From Clubs, Bags, and Ball, to Clothing, Games, Cleaning Supplies, and even Beverage products. This show has it all.
For the inventor community there’s even more to offer. The UIA is proud to announce the Inventor Spotlight section of the PGA show and the 3 great values participating inventors receive.
EXPOSURE! That’s right, exposure to buyers from major retailers like The Sports Authority, Dick’s Sporting Goods, Golf Galaxy, Golfsmith, and even Target. This is your chance to come face to face with the people who can catapult your product to huge orders. It happens at almost every show, an inventor shows his/her product to a buyer walking past the booth and the next thing you know it’s on a store shelf. Sometimes the buyer writes the purchase order on the spot.
EDUCATION! As we always do, The UIA offers an inventor education seminar the day before the show starts. The PGA inventor seminar is a chance to have professionals in the industry teach you about the processes involved with commercialization of a product idea. From developing an idea, to prototypes, sales and distribution, this is a FREE seminar packed with great information and you don't have to be an exhibitor to attend!
FORBES RILEY – Pitching your product on TV
MARK REYLAND – The UIA and changes in the inventing industry
JIM DEBETTA – How to prepare and sell products to major retailers
CHRIS HAWKER – When I first started inventing and what I learned
KENNY DURHAM – The many ways to sell your innovation
HASSAN ZARRABI – 3D Printing and other ways to prototype your product
ASHLEIGH SOTTIE – The process behind the scenes with your product on TV
AWARDS! You work hard to invent and develop those inventions into something that in one way or another benefits society - The UIA wants to recognize that hard. Our panel of industry professional judges will evaluate your efforts and award PGA Inventor spotlight awards to participating exhibitors in the following categories.
Best new overall product
Best Market Research
Best Product concept
That’s right, at PGA you don’t have to have a fully developed product to gain the attention of a major retailer, or to be recognized for your ingenuity and hard work. Many inventors use the spotlight area to show working prototypes and get feedback from the buyers, the consumers, and the UIA judges.
So don’t miss the opportunity to strut your stuff. Contact John Lederer at (203) 840-5381 for more information about how you can get involved in the 2011 Pro Golfers Show!
http://www.pgashow.com/en/Special-Events/Inventors-Spotlight/
It’s almost here. No, not Christmas or New years, I’m talking about something far more exciting to an inventor. I’m talking about the Professional Golfers Association Merchandise show in sunny Orlando Florida January 27-29th 2011.
The PGA show is a huge show where anyone who’s anyone in the sports industry shows up to see the latest in new merchandise and new innovation for both the Golf and Golf Support categories. From Clubs, Bags, and Ball, to Clothing, Games, Cleaning Supplies, and even Beverage products. This show has it all.
For the inventor community there’s even more to offer. The UIA is proud to announce the Inventor Spotlight section of the PGA show and the 3 great values participating inventors receive.
EXPOSURE! That’s right, exposure to buyers from major retailers like The Sports Authority, Dick’s Sporting Goods, Golf Galaxy, Golfsmith, and even Target. This is your chance to come face to face with the people who can catapult your product to huge orders. It happens at almost every show, an inventor shows his/her product to a buyer walking past the booth and the next thing you know it’s on a store shelf. Sometimes the buyer writes the purchase order on the spot.
EDUCATION! As we always do, The UIA offers an inventor education seminar the day before the show starts. The PGA inventor seminar is a chance to have professionals in the industry teach you about the processes involved with commercialization of a product idea. From developing an idea, to prototypes, sales and distribution, this is a FREE seminar packed with great information and you don't have to be an exhibitor to attend!
FORBES RILEY – Pitching your product on TV
MARK REYLAND – The UIA and changes in the inventing industry
JIM DEBETTA – How to prepare and sell products to major retailers
CHRIS HAWKER – When I first started inventing and what I learned
KENNY DURHAM – The many ways to sell your innovation
HASSAN ZARRABI – 3D Printing and other ways to prototype your product
ASHLEIGH SOTTIE – The process behind the scenes with your product on TV
AWARDS! You work hard to invent and develop those inventions into something that in one way or another benefits society - The UIA wants to recognize that hard. Our panel of industry professional judges will evaluate your efforts and award PGA Inventor spotlight awards to participating exhibitors in the following categories.
Best new overall product
Best Market Research
Best Product concept
That’s right, at PGA you don’t have to have a fully developed product to gain the attention of a major retailer, or to be recognized for your ingenuity and hard work. Many inventors use the spotlight area to show working prototypes and get feedback from the buyers, the consumers, and the UIA judges.
So don’t miss the opportunity to strut your stuff. Contact John Lederer at (203) 840-5381 for more information about how you can get involved in the 2011 Pro Golfers Show!
http://www.pgashow.com/en/Special-Events/Inventors-Spotlight/
Re: From The Inventor Blog
by Mark Reyland » Fri Jan 07, 2011 6:43 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
Well...Roger says
I recently read some great advice my friend Roger Brown (http://www.rogerbrown.net/) gave and inventor when asked by a new inventor that age old question "How do I get my product idea to market". I thought it was well worth repeating.
To start, let me address a common misconception with many first-time inventors who start with an idea but are unsure of how to actually make money from their invention (i.e., they don't understand the options for taking their idea to market). Many inventors believe that they need to personally spend tens of thousands of dollars developing and manufacturing their ideas in order to succeed, which is why you read so many stories about inventors who spend their life savings chasing an invention. While manufacturing is one option for certain inventors, it is not the only option, and certainly not the least risky.
When deciding how to proceed, you should first evaluate your ultimate goal. Consider the following two options for developing your invention
Option 1 - Manufacturing and marketing your invention on your own
Do you want to build a business around your idea and become an entrepreneur? If so, then you might choose the manufacturing option. Make sure that you consider all that’s involved with this option, such as: design, prototyping, finding a manufacturer/factory, building inventory, warehousing, shipping, marketing, etc.
Over the years, I have worked with thousands of inventors, and a common misunderstanding that I see is the belief that one must develop, manufacture and market the invention on one’s own in order to succeed. As a result, these inventors spend a small fortune developing prototypes and setting up manufacturing capabilities before they ever receive a single “interest” or purchase order from a company.
Note: If you elect to develop and manufacture your idea on your own, I would recommend that you try and secure interest and/or purchase commitments before you pull the trigger on manufacturing. There is a big difference between developing a prototype and setting up the manufacturing infrastructure for your invention.
Option 2 - Licensing for royalties
Are you looking for a way to minimize your costs and time commitment by finding a company to pay you for your idea? If the answer is yes, then consider licensing your invention for royalties. In my experience, most inventors end up going this route, which means that rather than manufacturing and marketing the invention on their own, they try to find a company to license or purchase the invention’s patent rights in exchange for a royalty or cash payment. The idea is to have an established company develop, manufacture, and market the invention alongside their existing product line. The key to licensing success (aside from having a great invention) is to adequately and professionally prepare and protect your idea for presentation to relevant companies. This can range from simple designs all the way through fully developing your invention.
I recently read some great advice my friend Roger Brown (http://www.rogerbrown.net/) gave and inventor when asked by a new inventor that age old question "How do I get my product idea to market". I thought it was well worth repeating.
To start, let me address a common misconception with many first-time inventors who start with an idea but are unsure of how to actually make money from their invention (i.e., they don't understand the options for taking their idea to market). Many inventors believe that they need to personally spend tens of thousands of dollars developing and manufacturing their ideas in order to succeed, which is why you read so many stories about inventors who spend their life savings chasing an invention. While manufacturing is one option for certain inventors, it is not the only option, and certainly not the least risky.
When deciding how to proceed, you should first evaluate your ultimate goal. Consider the following two options for developing your invention
Option 1 - Manufacturing and marketing your invention on your own
Do you want to build a business around your idea and become an entrepreneur? If so, then you might choose the manufacturing option. Make sure that you consider all that’s involved with this option, such as: design, prototyping, finding a manufacturer/factory, building inventory, warehousing, shipping, marketing, etc.
Over the years, I have worked with thousands of inventors, and a common misunderstanding that I see is the belief that one must develop, manufacture and market the invention on one’s own in order to succeed. As a result, these inventors spend a small fortune developing prototypes and setting up manufacturing capabilities before they ever receive a single “interest” or purchase order from a company.
Note: If you elect to develop and manufacture your idea on your own, I would recommend that you try and secure interest and/or purchase commitments before you pull the trigger on manufacturing. There is a big difference between developing a prototype and setting up the manufacturing infrastructure for your invention.
Option 2 - Licensing for royalties
Are you looking for a way to minimize your costs and time commitment by finding a company to pay you for your idea? If the answer is yes, then consider licensing your invention for royalties. In my experience, most inventors end up going this route, which means that rather than manufacturing and marketing the invention on their own, they try to find a company to license or purchase the invention’s patent rights in exchange for a royalty or cash payment. The idea is to have an established company develop, manufacture, and market the invention alongside their existing product line. The key to licensing success (aside from having a great invention) is to adequately and professionally prepare and protect your idea for presentation to relevant companies. This can range from simple designs all the way through fully developing your invention.
Re: From The Inventor Blog
by jackbnimble56 » Fri Jan 07, 2011 11:06 am
-
jackbnimble56 - Brown Belt
- Posts: 860
- Joined: Thu Mar 26, 2009 11:28 am
- Location: Massachusetts
Hi Mark
As you no doubt know, Roger and I are old friends this forum and the question of whether to manufacture yourself vs. licensing to someone else has come up many times. I suspect that for most, licensing will always be the primary option because of the perils and costs associated with plunging head long into the entrepreneurship required to become a manufacturer. However, as you also know, my product is so incredibly simple that I was able to manufacture several pilot lots halfway around the world and get them into shelf-ready commercial packing within nine months of first conceiving the idea. This would seem to auger strongly for pursuing the entrepreneur route were it not for the fact that I didn't get into inventing to do that much work!
Hence the licensing route still holds great appeal for me which is why I straddle the fence between the two options.
Currently, I'm pursuing a sort of reverse marketing strategy by targeting hundreds of small mom & pop operations that seem like logical retailers for my product. The idea is to get enough of those guys on board to where they're comfortable sharing with me the names of some of THEIR suppliers higher up the supply chain and hopefully one of THEM will interesting in licensing the product.
But it recently occurred to me that I have nothing to lose and everything to gain by at least trying to target some of the big guys. This would be not in the hope that they would take on a puny little one-man operation such as myself as a new supplier, but just to see if I could get some sort of letter of commitment some of them to take X number of units provided I can find them a manufacturer who can meet their price requirements, etc. The thinking there is that if could get a few letters of commitment I'd have a much stronger hand in trying to get a potential licensee on board.
For example, IKEA has now officially stopped selling incandescent bulbs leaving CFLs as the next most affordable alternative with the spiral CFLs being the most economical alternative. What better time to try and pitch my product to these guys? So my big question is this: How in blazes to I get in touch with someone in New Product Development at IKEA (or any other big box retailer) just to try and ask them if they MIGHT be willing to provide that letter of commitment once they've seen the product? I was all over the IKEA website but couldn't find anything in the way of a contact link except for Customer Services which is clearly not the way to go. Any suggestions?
Jack
As you no doubt know, Roger and I are old friends this forum and the question of whether to manufacture yourself vs. licensing to someone else has come up many times. I suspect that for most, licensing will always be the primary option because of the perils and costs associated with plunging head long into the entrepreneurship required to become a manufacturer. However, as you also know, my product is so incredibly simple that I was able to manufacture several pilot lots halfway around the world and get them into shelf-ready commercial packing within nine months of first conceiving the idea. This would seem to auger strongly for pursuing the entrepreneur route were it not for the fact that I didn't get into inventing to do that much work!
Hence the licensing route still holds great appeal for me which is why I straddle the fence between the two options.Currently, I'm pursuing a sort of reverse marketing strategy by targeting hundreds of small mom & pop operations that seem like logical retailers for my product. The idea is to get enough of those guys on board to where they're comfortable sharing with me the names of some of THEIR suppliers higher up the supply chain and hopefully one of THEM will interesting in licensing the product.
But it recently occurred to me that I have nothing to lose and everything to gain by at least trying to target some of the big guys. This would be not in the hope that they would take on a puny little one-man operation such as myself as a new supplier, but just to see if I could get some sort of letter of commitment some of them to take X number of units provided I can find them a manufacturer who can meet their price requirements, etc. The thinking there is that if could get a few letters of commitment I'd have a much stronger hand in trying to get a potential licensee on board.
For example, IKEA has now officially stopped selling incandescent bulbs leaving CFLs as the next most affordable alternative with the spiral CFLs being the most economical alternative. What better time to try and pitch my product to these guys? So my big question is this: How in blazes to I get in touch with someone in New Product Development at IKEA (or any other big box retailer) just to try and ask them if they MIGHT be willing to provide that letter of commitment once they've seen the product? I was all over the IKEA website but couldn't find anything in the way of a contact link except for Customer Services which is clearly not the way to go. Any suggestions?
Jack
Nimble Jack Enterprises - Innovative Solutions to Everyday Problems
To purchase the Magic Toob product visit: http://www.magictoob.com/
To purchase the Magic Toob product visit: http://www.magictoob.com/
Re: From The Inventor Blog
by Mark Reyland » Tue Jan 11, 2011 6:41 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
Lady Gaga an inventor ....Who knew?
LADY Gaga continues to push the boundaries of fashion, music and out-there sunnies, "inventing" the first sunglasses with an inbuilt camera. The prototype of the retro glasses with inbuilt LCD screens were launched today at the international Consumer Electronics Show in Las Vegas, with the plug for Polaroid's new label streamed live on the web.
Gaga, wearing a sleek black dress and matching veil, demonstrated the glasses ability to display its recordings to other fashion geeks.“These are something I envisioned many years ago, during the Fame Ball tour when I made glasses out of iPod screens.“I thought wouldn’t it be wonderful if these could be functional?” She said the sunnies could also shoot video, with the data stored on a USB data stick that doubles as an earpiece.
Gaga’s first foray into electronics comes as creative director and “inventor of specialty projects” with iconic brand Polaroid .
"I am so proud to announce my new partnership with Polaroid as the creative director and inventor of specialty projects", said Lady Gaga. “I am so excited to extend myself behind the scenes as a designer, and to, as my father puts it finally have a real job."
The glasses are expected to be on sale from late in the year in the US.
LADY Gaga continues to push the boundaries of fashion, music and out-there sunnies, "inventing" the first sunglasses with an inbuilt camera. The prototype of the retro glasses with inbuilt LCD screens were launched today at the international Consumer Electronics Show in Las Vegas, with the plug for Polaroid's new label streamed live on the web.
Gaga, wearing a sleek black dress and matching veil, demonstrated the glasses ability to display its recordings to other fashion geeks.“These are something I envisioned many years ago, during the Fame Ball tour when I made glasses out of iPod screens.“I thought wouldn’t it be wonderful if these could be functional?” She said the sunnies could also shoot video, with the data stored on a USB data stick that doubles as an earpiece.
Gaga’s first foray into electronics comes as creative director and “inventor of specialty projects” with iconic brand Polaroid .
"I am so proud to announce my new partnership with Polaroid as the creative director and inventor of specialty projects", said Lady Gaga. “I am so excited to extend myself behind the scenes as a designer, and to, as my father puts it finally have a real job."
The glasses are expected to be on sale from late in the year in the US.
Re: From The Inventor Blog
by Mark Reyland » Wed Jan 12, 2011 6:52 am
- Mark Reyland
- Green Belt
- Posts: 150
- Joined: Sun Mar 29, 2009 6:31 am
The US Patent Office helping Inventors
John Calvert from the USPTO graciously took the time to contact us yesterday and talk about some of the changes the Patent Office is making to help inventors.
One such change is what people mistakenly referred to as an "extension" to the Provisional Patent Application (PPA). It's not actually an extension at all. However the net result is more time to file - and decide if you should invest in - a fully developed patent application.
Here are the FACTS about how it works directly from John and his staff.
Providing Inventors More Time through the USPTO’s Extended Missing Parts Pilot Program
On December 8, 2010, the United States Patent and Trademark Office published a Federal Register Notice announcing the launch of the “Extended Missing Parts Pilot Program.” This program permits an applicant request of an additional twelve-month period to pay certain fees when an applicant files a nonprovisional application and directly claims the benefit of the provisional application.
This pilot program was created from the feedback that the USPTO received from independent inventors and universities who indicated that the provisional application period should be longer than 12 months to provide them with adequate time to make decisions regarding moving forward with a non-provisional application. The 12 month provisional period is provided specifically in the patent statute, so the USPTO is not able to change the period without Congressional action. However, the USPTO found that the essence of these requests could be achieved by a change to the non-provisional application missing parts practice. Under this new pilot program, a change to missing parts practice would effectively give applicants up to 24 months to make decisions regarding the significant investment of time and money required taking a regular (non-provisional) patent application forward.
Under the pilot program, an applicant must file a non-provisional application no later than 12 months after the filing date of the provisional application, and request a delay in payment of the search and examination fees at the time the non-provisional application is filed. These steps will ensure they can take advantage of the additional 12 months to pay the search and examination fees in a non-provisional application. The USPTO is providing applicants with a form for the certification required, and to request a delay in payment of the search and examination fees (PTO/SB/421). Only newly filed, non-provisional applications directly claiming benefit of an earlier filed provisional application within the previous 12 months will be eligible for this pilot program
CAUTION!
Filing for patent protection outside of the US requires an application being filed in a particular country or through the Patent Cooperation Treaty (PCT) within 12 months of the earliest US filing date.
A non-provisional application with at least one claim must be filed within 12 months of the provisional application date to claim benefit of the provisional date.
The non-provisional application specification cannot have content added after filing and any new claims added must be fully supported by the specification.
The non-provisional application disclosure requirements will have to be met in order to receive a filing date and be entitled to the 12-month extension period. Non-provisional applications for which a 12-month extension is requested must have a written description clearly describing the invention so that someone with ordinary skill in the same technology can make and use it. The non-provisional application must directly claim benefit of a provisional application filed within the previous 12 months in the first sentence of the specification or in an application data sheet. The non-provisional application must have at least one claim, and drawings when necessary, to understand the invention. The applicant pays the basic filing fee at the time of filing, but not the search and examination fees. A “Notice to File Missing Parts” allows the applicant/inventor 12 months to pay the search and examination fees.
Both utility and plant patent applications are eligible to participate in this pilot. Utility applications can be filed either electronically, using EFS-Web, or in paper. Plant patent applications can only be filed in paper. Applications filed in paper may be mailed (USPS Express Mail is suggested) or may be hand-delivered to the USPTO. A non-publication request cannot be filed with the non-provisional application because the application will be published at the 18-month date from the earliest filing date claimed. Finally, filing date and publication requirements must be met in order to participate in the pilot program.
There are certain instances when a request may be denied. An application that is not a non-provisional utility or plant application claiming benefit of a provisional application filed as prescribed will not be eligible for this pilot program. Other instances for denial include: an application not entitled to a filing date, a certification and request submitted after the filing date of the non-provisional application, a non-provisional application not directly claiming benefit of a provisional application filed within the previous 12 months, and a nonpublication request filed with the non-provisional application.
It is critical to remember that the pilot program will NOT change the requirement that an applicant must file a non-provisional application, foreign, or PCT application within 12 months of the filing date of a provisional application. If a non-provisional application, foreign, or PCT application is filed later than 12 months from the filing date of a provisional application, it may not be entitled to the benefit of right of priority to the provisional application and it may negate the ability to obtain foreign patent rights. However, as described above, the new pilot will enable participating applicants to delay other application-related expenses for 12 more months.
In order to participate in the Extended Missing Parts Pilot Program you will need to follow these steps:
• File a non-provisional application (including a specification);
• referencing a provisional application filed within the previous 12 months in the first sentence of the specification or in an Application Data Sheet (ADS);
• include at least one claim;
• include drawings if necessary; and
• request a delay in payment of the search and examination fees at the time of the non-provisional application filing using form PTO/SB/421.
To better understand all that you need to know to effectively and knowledgably use the new practice, the USPTO will be conducting at least one webinar and will have training packages available on the USPTO website (http://www.uspto.gov). As always independent inventors can also contact the Inventors Assistance Center (1-800-786-9199) with questions.
John Calvert from the USPTO graciously took the time to contact us yesterday and talk about some of the changes the Patent Office is making to help inventors.
One such change is what people mistakenly referred to as an "extension" to the Provisional Patent Application (PPA). It's not actually an extension at all. However the net result is more time to file - and decide if you should invest in - a fully developed patent application.
Here are the FACTS about how it works directly from John and his staff.
Providing Inventors More Time through the USPTO’s Extended Missing Parts Pilot Program
On December 8, 2010, the United States Patent and Trademark Office published a Federal Register Notice announcing the launch of the “Extended Missing Parts Pilot Program.” This program permits an applicant request of an additional twelve-month period to pay certain fees when an applicant files a nonprovisional application and directly claims the benefit of the provisional application.
This pilot program was created from the feedback that the USPTO received from independent inventors and universities who indicated that the provisional application period should be longer than 12 months to provide them with adequate time to make decisions regarding moving forward with a non-provisional application. The 12 month provisional period is provided specifically in the patent statute, so the USPTO is not able to change the period without Congressional action. However, the USPTO found that the essence of these requests could be achieved by a change to the non-provisional application missing parts practice. Under this new pilot program, a change to missing parts practice would effectively give applicants up to 24 months to make decisions regarding the significant investment of time and money required taking a regular (non-provisional) patent application forward.
Under the pilot program, an applicant must file a non-provisional application no later than 12 months after the filing date of the provisional application, and request a delay in payment of the search and examination fees at the time the non-provisional application is filed. These steps will ensure they can take advantage of the additional 12 months to pay the search and examination fees in a non-provisional application. The USPTO is providing applicants with a form for the certification required, and to request a delay in payment of the search and examination fees (PTO/SB/421). Only newly filed, non-provisional applications directly claiming benefit of an earlier filed provisional application within the previous 12 months will be eligible for this pilot program
CAUTION!
Filing for patent protection outside of the US requires an application being filed in a particular country or through the Patent Cooperation Treaty (PCT) within 12 months of the earliest US filing date.
A non-provisional application with at least one claim must be filed within 12 months of the provisional application date to claim benefit of the provisional date.
The non-provisional application specification cannot have content added after filing and any new claims added must be fully supported by the specification.
The non-provisional application disclosure requirements will have to be met in order to receive a filing date and be entitled to the 12-month extension period. Non-provisional applications for which a 12-month extension is requested must have a written description clearly describing the invention so that someone with ordinary skill in the same technology can make and use it. The non-provisional application must directly claim benefit of a provisional application filed within the previous 12 months in the first sentence of the specification or in an application data sheet. The non-provisional application must have at least one claim, and drawings when necessary, to understand the invention. The applicant pays the basic filing fee at the time of filing, but not the search and examination fees. A “Notice to File Missing Parts” allows the applicant/inventor 12 months to pay the search and examination fees.
Both utility and plant patent applications are eligible to participate in this pilot. Utility applications can be filed either electronically, using EFS-Web, or in paper. Plant patent applications can only be filed in paper. Applications filed in paper may be mailed (USPS Express Mail is suggested) or may be hand-delivered to the USPTO. A non-publication request cannot be filed with the non-provisional application because the application will be published at the 18-month date from the earliest filing date claimed. Finally, filing date and publication requirements must be met in order to participate in the pilot program.
There are certain instances when a request may be denied. An application that is not a non-provisional utility or plant application claiming benefit of a provisional application filed as prescribed will not be eligible for this pilot program. Other instances for denial include: an application not entitled to a filing date, a certification and request submitted after the filing date of the non-provisional application, a non-provisional application not directly claiming benefit of a provisional application filed within the previous 12 months, and a nonpublication request filed with the non-provisional application.
It is critical to remember that the pilot program will NOT change the requirement that an applicant must file a non-provisional application, foreign, or PCT application within 12 months of the filing date of a provisional application. If a non-provisional application, foreign, or PCT application is filed later than 12 months from the filing date of a provisional application, it may not be entitled to the benefit of right of priority to the provisional application and it may negate the ability to obtain foreign patent rights. However, as described above, the new pilot will enable participating applicants to delay other application-related expenses for 12 more months.
In order to participate in the Extended Missing Parts Pilot Program you will need to follow these steps:
• File a non-provisional application (including a specification);
• referencing a provisional application filed within the previous 12 months in the first sentence of the specification or in an Application Data Sheet (ADS);
• include at least one claim;
• include drawings if necessary; and
• request a delay in payment of the search and examination fees at the time of the non-provisional application filing using form PTO/SB/421.
To better understand all that you need to know to effectively and knowledgably use the new practice, the USPTO will be conducting at least one webinar and will have training packages available on the USPTO website (http://www.uspto.gov). As always independent inventors can also contact the Inventors Assistance Center (1-800-786-9199) with questions.