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Product, Price, Presentation, and a ton of Patience

Postby cre8ive » Tue Jan 11, 2011 12:12 pm

cre8ive
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Hello all,

Seven years ago, I embarked on a journey that I felt without a shadow of a doubt would result in more than just personal accomplishment and gratification.

Out of love for the cartoons I watched on TV growing up as a kid and my fascination with how children reacted to them -- I set out to create my own unique characters. With collaboration from professional graphic illustrators and many tweakings later, I finally had a finished product...four adorable product characters.

Throughout the tweaking years, and after many sleepless nights of brainstorming one thing seemed to lead to another. Before I knew it I had envisioned and developed a children's product line. My characters had potential beyond what I had originally dreamt. With a children's board game, a drawing tablet, educational material, several book concepts, and ways of licensing on hand I set out to expose the ideas.

Then, the economy tanked. Foreclosures, unemployment, golden parachutes, and Bankers acting like Scrooge were the headline news. Doors were slamming on my face quicker than I could say "Hello, my name is...".

But, I haven't been deterred or discouraged. And in a way, the economy tanking has actually helped with my marketing strategy. Going the cautious, methodical, and least expensive route to test the market makes the most sense.

I've learned some valuable lessons along the way meanwhile. I've learned that regardless of how good an idea you have; regardless of how hard you've worked; regardless of how well written your business plan is; or regardless of how many friends you have (or think you have)...without impeccable credit you're pretty much on your own! I've also learned that there is a common theme among investors (If it's not tech related or will generate quick profits..we want no part of it). What few people I've approached are simply not eager to gamble their money on an idea without really quick high yield profits. Where are the medium to long term investment investors?

I remain optimistic and sense that "Patience" will prevail. Yes, it's still a bit unsettling to know I've devoted all these years to develop what I have and still have no means of bringing them to market. But I'm confident that'll change.

To be continued...

Orlando

Re: Product, Price, Presentation, and a ton of Patience

Postby cre8ive » Thu Apr 21, 2011 12:15 pm

cre8ive
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Was kind of hoping someone would have had an opinion or thought by now, but no matter. Since my first and only post I am happy to be able to share that all my hard work may have possibly paid off. I had the pleasure of meeting with a Marketing Director/Professor who was quite impressed with my product line and is willing to help me take it to the next level, with possible partnership. Somebody keep their fingers crossed for me.

Wishing everyone else great luck and success!

To be continued...

Orlando

Re: Product, Price, Presentation, and a ton of Patience

Postby jackbnimble56 » Thu Apr 21, 2011 2:31 pm

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"I've also learned that there is a common theme among investors (If it's not tech related or will generate quick profits..we want no part of it). What few people I've approached are simply not eager to gamble their money on an idea without really quick high yield profits. Where are the medium to long term investment investors?"

You pretty much hit the nail on the head. All anyone seems interested in is cheap crap that can be pitched by the DRTV route. That model is famous for the "buy one, get one free" scam in which they gouge you on the "separate shipping and handling". Just check out the dismal reviews for the Emery Cat:

http://www.amazon.com/Emery-Cat-EC01110 ... ewpoints=1

It gets 2 stars out of 5 with 103 reviews and yet Edison nation loves to tout it as one of their "Successes". Mister Steamy, which they also count as a success topped Yahoo's list of Ten Products to Avoid for 2011:

http://shine.yahoo.com/channel/life/10- ... toViewer=1

And right behind it on that same list is the Jupiter Jack which was a bit hit on the show Pitchmen.

In this economy investors are loathe to pony up money for anything that isn't a sure thing. lately I've come to conclude that if you want to make money with your inventions you're better off doing the whole thing yourself. You need a boatload of capital to get it done. Alternatively, you could become an expert on filing your own patents and simple play the role of "Patent Troll". That way you'd be spending little money while securing the intellectual property rights for all the good ideas you have. If they really are good someone will stumble upon them eventually and if they want to produce them they'll either have to pay you a royalty or buy the rights. Either way your costs are reasonable and you can keep doing what you like, which for me at least is the inventing process itself. Let someone else worry about how to turn your ideas into products.

Jack
Nimble Jack Enterprises - Innovative Solutions to Everyday Problems
To purchase the Magic Toob product visit: http://www.magictoob.com/

Re: Product, Price, Presentation, and a ton of Patience

Postby Gizmo » Fri Apr 22, 2011 2:06 am

Gizmo
 
jackbnimble56 wrote:[i]"i]

You pretty much hit the nail on the head. All anyone seems interested in is cheap crap that can be pitched by the DRTV route. That model is famous for the "buy one, get one free" scam in which they gouge you on the "separate shipping and handling". Just check out the dismal reviews for the Emery Cat:

http://www.amazon.com/Emery-Cat-EC01110 ... ewpoints=1

Jack


Emery Cat must be doing good,,,I see it all over the place. Matt Spangard & Team from Edison Nation worked hard on the product.

Good for them !!!!!

http://markreylandemail.blogspot.com/

Re: Product, Price, Presentation, and a ton of Patience

Postby jackbnimble56 » Fri Apr 22, 2011 4:42 am

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Giz

Your observations regarding the Emery Cat simply help prove the point I was making in the thread about light bulbs. American consumers simply aren't that smart. That's what the DRTV business is built on. People REPEATEDLY keep falling for that smoke and mirrors sales pitch that accompanies every new product that's rolled out. It just goes to show that you can sell virtually ANY piece of crap if you pitch it effectively. P. T. Barnum had it right, there's one born evey minute.

Jack
Nimble Jack Enterprises - Innovative Solutions to Everyday Problems
To purchase the Magic Toob product visit: http://www.magictoob.com/

Re: Product, Price, Presentation, and a ton of Patience

Postby cre8ive » Tue May 31, 2011 8:24 am

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Couldn't agree more Jack -- it boggles the mind what people spend their money on these days. It's all in the advertising for sure. Just an outright shame.

With any luck consumers will one day get to appreciate what I'm offering.

Thanks for the reply!

Re: Product, Price, Presentation, and a ton of Patience

Postby Roger Brown » Tue May 31, 2011 9:28 am

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If you package it right you can sell anything. Look at bottled water. I am sure the first person to bring that to a meeting was thought to be nuts. It is now a billion dollar industry.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.

Re: Product, Price, Presentation, and a ton of Patience

Postby cre8ive » Sat Aug 13, 2011 6:32 am

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Oh yea... bottled water...wish I had thought of that one.

Just a quick update on what's happened since my last post...

The Marketing Director bailed out. I rememebr my initial reaction being that of feeling stunned and bewildered, with a few other colorful metaphors attached, but it really was no big surprise. All the years of experience trying to recruit financial help sort of prepared me for his decision to bow out.

It's that nagging question that keeps haunting the heck out of me..."What is it that I have to prove about my products to make a believer out of whomever?".

I mean, it's a novel idea, with educational value and recreational fun for children. It has a very low start-up cost tag. And while it's in it's infancy...it has more potential to grow than say -- chia pets!

I swear I just don't get it. Sound business plan, colorful and large presentation, good intentions, and seriously novel products.

Another question I ask myself is whether the state of our economy is a factor or not, and I would have to agree that it could be...if I was looking for a 30k investment, which I'm not.

I remain focused and optimistic...

Re: Product, Price, Presentation, and a ton of Patience

Postby Roger Brown » Sat Aug 13, 2011 6:43 am

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Where you paying the Marketing Director for his services or was he doing it on spec? Did he give you a reason why he pulled out?
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.

Re: Product, Price, Presentation, and a ton of Patience

Postby cre8ive » Sat Aug 13, 2011 6:54 am

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I left the meeting with the understanding that he would help bring this to the next level, with my open invitation to be involved at any capacity that he felt comfortable being in. We did not get into specifics due to time constraints.
Which, by the way, was the only questionable thing about the meeting -- he never asked 'costs'.
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