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SHOW me the MONEY!!
by froggy » Wed Apr 04, 2007 6:53 am
- froggy
- White Belt
- Posts: 33
- Joined: Wed Apr 04, 2007 6:30 am
What? YOU have got to be kidding- 25% of 5% (of profit??) ... what kind of bull%#@! is this! I was going to take my idea to the show- but I'm nobodys pony show for nothing- no wonder why real inventions are not on this show, even the $1 mill advance on royalties is bull!@#$ ---thanks but no thanks AI......with this kind of contract and $$ you are only getting garbage and drama queens for your show--- by the way I think my product will have sales in excess of $$200 million a year,, no problem..Lets see 10% profit per unit ($2000) =$200- of that abc gets 5%=$10 of that you get $2.50 of 100,000 units = $250,000 thanks but no thanks I'll go out on my own then I could see $20 million 
Frog
Frog
Let's be realistic
by Average Inventor » Wed Apr 04, 2007 10:03 am
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Average Inventor - Brown Belt
- Posts: 569
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- Location: Cleveland, OH
Frog,
Maybe American Inventor isn't for you. To say your gonna make 20 mil from your invention is kinda sad because it's the reality that many new "inventors" make for themselves and the only way from there is down. If you set more realistic sights then you might be happily surprised rather than blissfully unaware. I would like to see a section where people boast what they think they are gonna make and then every year update us on their status reaching that goal. I'd be willing to bet 95% or more who project over 1 million will be sadly mistaken but it will be a good eye opener for those just looking for a quick buck. Sorry to be the bringer of bad news but... Let's be realistic!
Maybe American Inventor isn't for you. To say your gonna make 20 mil from your invention is kinda sad because it's the reality that many new "inventors" make for themselves and the only way from there is down. If you set more realistic sights then you might be happily surprised rather than blissfully unaware. I would like to see a section where people boast what they think they are gonna make and then every year update us on their status reaching that goal. I'd be willing to bet 95% or more who project over 1 million will be sadly mistaken but it will be a good eye opener for those just looking for a quick buck. Sorry to be the bringer of bad news but... Let's be realistic!
by Heather615 » Wed Apr 04, 2007 11:07 am
- Heather615
- White Belt
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- Joined: Tue Dec 12, 2006 9:47 pm
- Location: Charleston, SC
I thought I would be a millionare when I received my first patent. Oh, the days of being so naive!! I have a very successful medical product that has been on the market for about 7 years now. I sell to hospitals, doctors and parents all over America as well as many other countries. One may assume that would mean millions of dollars, but my bank account says different. It is quite profitable and I am so thankful to be able to have that. It is a nice living and has greatly improved my way of life. However, I am by no means a millionare. (YET!!) It has been ALOT of hard work and I have had many hurdles to overcome. One of the best things I have received from this whole process is getting to really know myself. It has been a crash course in what my tolerances are and how I handle things. Through all of the trials and tribulations it has made me strong and determined. There were many, many times when I just wanted to walk away from it all. Sometimes a good cry would help get me back on path or realize I need to be taking a different path. (don't know if this works for guys, sorry) Manufacturing and marketing your own product does have its payoff, but it is extremely hard work. I have learned so many things I never thought I would need to know. This was a good product to take on by myself though. I don't beleive I would have profited nearly as well if I had licensed it to an outside company. I am working on 4 other products right now. 3 of them I will maufacture and market myself because they fit right in line with my first product and will be marketed to the same buyers. The 4th is so unrelated to my medical products that I just REALLY want to license it. Even if I did want to do it myself I would not be able to financially support this kind of a product through the manufacturing and developing stages. I need to let the professionals in that field handle that. If I was able to pay for it by quadrouple mortgaging my house the mistakes I would make with that kind of a product could ruin me financially.
Heather
Heather
by Road Show » Wed Apr 04, 2007 11:48 am
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Road Show - Brown Belt
- Posts: 962
- Joined: Mon Nov 20, 2006 5:39 pm
- Location: SoCal
Heather,
You should be held out as the best example of what inventing is all about. Be happy that you have a base to build on. One profitable product will then allow you to piggyback related products, and make the most out of your client contacts. As you grow, you can add lines manufactured by others to fill out your product offerings so that you walk away from every client with an order. You can then highlight YOUR products, or offer special discounts for the purchase of your "in-house" line. You are on the right track for sure. One avenue you may wish to investigate is the promotional products market. If you know of any indepentent medical supply distributors/reps, you may offer to custom imprint your product with the rep's client name or advertising message using an inexpensive pad printer. You are going to be big some day...I just know it.
RSG
You should be held out as the best example of what inventing is all about. Be happy that you have a base to build on. One profitable product will then allow you to piggyback related products, and make the most out of your client contacts. As you grow, you can add lines manufactured by others to fill out your product offerings so that you walk away from every client with an order. You can then highlight YOUR products, or offer special discounts for the purchase of your "in-house" line. You are on the right track for sure. One avenue you may wish to investigate is the promotional products market. If you know of any indepentent medical supply distributors/reps, you may offer to custom imprint your product with the rep's client name or advertising message using an inexpensive pad printer. You are going to be big some day...I just know it.
RSG
by Heather615 » Wed Apr 04, 2007 2:03 pm
- Heather615
- White Belt
- Posts: 22
- Joined: Tue Dec 12, 2006 9:47 pm
- Location: Charleston, SC
Road SHow,
Thanks so much for your kind words and encouragement! Also thanks for the suggestions! I will definately keep those on the surface of my mind to explore shortly. That brings up a good point. One thing I would like to add about having a successful product for others to know is... it is only successful and the best product of it's type on the market because I really value and listen to all of the modification suggestions I have received over the years from the parents, doctors and nurses. Sometimes it really hurts to hear and can be very upsetting emotionally and finacially. I actually have on my wall, in my office, 5 shadow boxes. The first shadow box has my very first prototype, the second box has a little better version, and the remaining get a little better each time until the 5th box which has the current verson. I love to look at those as a reminder of the problems I encountered with each one and the panic I felt at the time I realized (or were told) there was something that needed to be fixed. Then I look at the following one to remember the hard work it took to change it. When I compare my first prototype to the one I currently have manufactured I can't help but to laugh. It goes from looking like it was made in a kindegarten art class to a real manufactured medical device. I guess what I am trying to say in a really long way is that one of the best things an inventor can do is be open to suggestions, constantly evolve the product and don't ever assume you have the final version. Also, listen to all advice somebody gives you to market and operate your business. So Road Show I do really thank you with all I have for taking the time to write back to me and offer your suggestions. They are good!!! ADVICE IS PRICELESS!!!
Heather
Thanks so much for your kind words and encouragement! Also thanks for the suggestions! I will definately keep those on the surface of my mind to explore shortly. That brings up a good point. One thing I would like to add about having a successful product for others to know is... it is only successful and the best product of it's type on the market because I really value and listen to all of the modification suggestions I have received over the years from the parents, doctors and nurses. Sometimes it really hurts to hear and can be very upsetting emotionally and finacially. I actually have on my wall, in my office, 5 shadow boxes. The first shadow box has my very first prototype, the second box has a little better version, and the remaining get a little better each time until the 5th box which has the current verson. I love to look at those as a reminder of the problems I encountered with each one and the panic I felt at the time I realized (or were told) there was something that needed to be fixed. Then I look at the following one to remember the hard work it took to change it. When I compare my first prototype to the one I currently have manufactured I can't help but to laugh. It goes from looking like it was made in a kindegarten art class to a real manufactured medical device. I guess what I am trying to say in a really long way is that one of the best things an inventor can do is be open to suggestions, constantly evolve the product and don't ever assume you have the final version. Also, listen to all advice somebody gives you to market and operate your business. So Road Show I do really thank you with all I have for taking the time to write back to me and offer your suggestions. They are good!!! ADVICE IS PRICELESS!!!
Heather
$$$$$$$$$
by froggy » Wed Apr 04, 2007 5:46 pm
- froggy
- White Belt
- Posts: 33
- Joined: Wed Apr 04, 2007 6:30 am
Average, you are right most inventors do exactly as you say, I,m just using current sales #'s from wal-mart and sams only- so my figures are somewhat inline.... but I'm sure its not easy getting a better product in market... I just moved back from Indonesia, and have been to Hong Kong, China for business many times,,, but please change your avatar from being average! seems like you are destined for ho-hum products that have a so-so (yawn) appeal ....I am a direct importer to the U.S. and I do fine, thank you very much, but come on 25% of 5% of the profit-- get real!!!
by Average Inventor » Wed Apr 04, 2007 6:05 pm
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Average Inventor - Brown Belt
- Posts: 569
- Joined: Wed Apr 04, 2007 9:52 am
- Location: Cleveland, OH
Frog,
It sounds to me that you would be a perfect candidate for American Inventor Season 2. You fit the mold to a tee so please check out the Houston or Orlando stops
Good luck and I hope to see you one there!
Your Average Inventor
It sounds to me that you would be a perfect candidate for American Inventor Season 2. You fit the mold to a tee so please check out the Houston or Orlando stops
Good luck and I hope to see you one there!
Your Average Inventor
$$$$$$$$
by froggy » Wed Apr 04, 2007 6:10 pm
- froggy
- White Belt
- Posts: 33
- Joined: Wed Apr 04, 2007 6:30 am
I tell you what, I have 4 Products that I am woking on, 2 are ready for production and will be on ebay soon,,, 1 other is kinda difficult and would take more time to get everything together than I care to devote( I HAVE 6 KIDS), I will go to Houston and pitch the idea, Its a product that solves a current problem,currently has sales in excess of 1/2 billion a year, and it is a storefront item, shouldnt be a problem, will keep ya'll updated- Heck I just want to see the product on the market- the current ones suck!! And I'm tired of seeing people being ripped-off buying the current product, and it aggravates me 
Betcha a six-pack, I make the top 12- anyone? But still 25% of 5% 
Betcha a six-pack, I make the top 12- anyone? But still 25% of 5%
by Michelle » Wed Apr 04, 2007 6:13 pm
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Michelle - Black Belt
- Posts: 1529
- Joined: Wed Oct 11, 2006 7:27 am
I'll buy you a six pack if you make it to final 12....but can I get something I want like...ummm chocolate?
I really hope you do....but as far as I know, its one inventor per city and there are six cities.
The $50,000 can also only be used for development and nothing else so its a very limited $50,000 for the city winners.
I really hope you do....but as far as I know, its one inventor per city and there are six cities.
The $50,000 can also only be used for development and nothing else so its a very limited $50,000 for the city winners.
beer
by froggy » Wed Apr 04, 2007 9:30 pm
- froggy
- White Belt
- Posts: 33
- Joined: Wed Apr 04, 2007 6:30 am
Well Michelle, How about I whip up some chocolate flavored beer? And I have the ultimate for some gals-- Dr. pepper flavored cigaretts, perfect for that southern charming lady in her sweats and t-shirt!!
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