As Seen on TV Product Agent Carrie Jeske is Looking for the Next Big Thing

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Carrie Jeske has taken products through the stages of patent to market ready; appearing on QVC and securing sales in catalogs such as Solutions and AutoSport, in big box stores including Sam’s Club and Costco, and licensing agreements with Budweiser, Coca-Cola and Coors Lite. Her talks are candid, funny and filled with practical, action oriented instruction and inspiration. Carrie will speak on: • How To Earn $330,000 Inventing Products for TV or $27,500 in Finder’s Fees • Licensing Gotchas – The Art, Science and Terms of Agreements. Carries experience spans 30 years in sales and executive management with a history of growing individuals and organizations to higher levels of productivity and purpose. She is a direct licensee for the “As Seen on TV” category with Will It Launch, LLC and has a team of licensing agents who work on non-TV category products with granted patents, through Inventive Ideas, Inc, a company she co-founded with her husband of 28 years in 2000.

Podcast Notes

1You Tube Transcription
0:04hard-won and welcome to inventors 0:07launchpad roadmap to success I am call 0:10my Dennis Co your host and today on a 0:12launch pad we have a licensing expert 0:15she's an entrepreneur she's a business 0:18owner she's also an inventor 0:20she had products on QVC and retail 0:23before she got into the licensing 0:24business she has probably personally put 0:27on hundreds of products on the ad seen 0:30on TV space we're going to get into how 0:33that relates to sales and what it means 0:35by the As Seen on TV 0:36her name is Kerry jetski and I believe 0:39she's on the line right now 0:41hey Kerry over there hi carmine great to 0:43talk with you 0:44hi Kerry thanks for being on the show 0:46today and I did a quick little intro I'm 0:50sure and I just from reading your bio 0:52you've done so much more I just wanted 0:55to give the listeners a little bit of 0:57what you've been going on in the recent 0:59years I also know that you're part of 1:01some invention clubs out in Kansas City 1:04is that correct well I am I was part of 1:07the founding group of the inventor 1:09satura KC back between maybe 2006 2012 1:12that timeframe and we grew the group and 1:15now I'm doing an online CO inventing 1:17group so it's kind of nice festival 1:19holes that's great you know because a 1:21lot of people sometimes can't go to 1:22those meetings but being online it makes 1:24it a lot easier to do probably yeah I 1:27think it's a great way to connect people 1:29all around the country all around the 1:30world you know it's a small world 1:33nowadays with online and people having 1:36access so what I really want to do is 1:38bring together groups of people online 1:40but then I also encourage face-to-face 1:43meeting because they're still really is 1:44no substitute for the good old 1:46face-to-face yeah I agree I agree 1:48email packs all it stuff it just doesn't 1:50show any emotion and being able to talk 1:52face-to-face and do that certainly helps 1:54it's good for the intros and good for 1:56getting things done but it's always like 1:58you said nice to be face-to-face and 2:00talk and be able to see the people 2:01you're dealing with yeah I think so I 2:03think that's really great you know 2:05working with as seen on tv products you 2:08said I hundreds of products I wish 2:11hundreds of products 2:13but really you know in the SEM TV 2:15segment it's like a home run kind of a 2:17play so we get one to four products a 2:19year we're good man vendors you're happy 2:21to you know that's probably still a lot 2:24I mean when I said that I probably meant 2:26that you have seen a lot of products and 2:28I probably didn't say that correctly but 2:30you're right you probably see so many 2:32products and and let's back up a little 2:34bit I know we just jumped right into 2:35this and I get kind of excited when I'm 2:37dealing with somebody who really knows 2:38the industry and you've been doing this 2:41for many years maybe give us a little 2:43background on how you got into the 2:44industry and and where you're leading up 2:47to yeah great thanks um my husband and 2:50that's actually the inventor I'm an 2:52inventor too but he really kind of 2:53started the ball he's in structural 2:55engineer and fifteen years ago I was 2:58president of a technology company and he 3:00was a structural engineer and we 3:01invented a little product out of playing 3:03softball with lifelong softball players 3:05and we thought well you know let's let's 3:07make this product a success let's go 3:09into business together so we kind of 3:11quit our jobs we pretty much went in 3:14full board we had a little friends and 3:16family investor meeting one Saturday 3:18afternoon and you know we invited maybe 3:21150 people 40 people said they'd come 3:24twenty-five actually showed up and of 3:26the 25 we raised about 250,000 and that 3:29one afternoon so that was pretty good we 3:32had a lot of credibility with our 3:33friends and family and so we started our 3:36company and that product did pretty well 3:38we got it on QVC we got it NHS or not 3:41HSN but we got it on QVC we got it in 3:43Sports Authority Cabela's Sam's Club 3:46Costco and it had a nice ride it's still 3:49on the market today but it's bell curve 3:51of all products kind of dipped around 3:532012 2013 but during that time I really 3:58learned so much and I think I probably 4:00made every mistake you could make with 4:02that product to me I'm a school of hard 4:05knocks learner so you know we did it all 4:07wrong but we were able to pick ourselves 4:09up and you know dust ourselves off and 4:11keep going again and in that process the 4:14inventors group came about I started 4:17hearing what other kind of options there 4:18were with licensing realized wow they 4:21can sell is not the only you know way to 4:24go to market and actually it could be 4:26more soup 4:27to license I'm going to miss the guys 4:28that will at launch and we establish 4:31that trust and a relationship over many 4:33years where they were funding some 4:35contests I was running and I got to you 4:38know just develop a comfort level with 4:39them and then I came on board about 4:41three and a half years ago and and I 4:43loved helping people ever since wow what 4:46a story I mean we're talking about your 4:48first product that you invented I mean 4:50you actually got funding through friends 4:52and family which is everyone talks about 4:54and that was a lot of money that you 4:55raised and then you got the product into 4:57retail and as you know being industry 4:59now I mean certainly you made some 5:01mistakes but that's amazing with the 5:03first product right well everybody told 5:05me you can't get into retail with a 5:06single SKU product but fails was my 5:09background so I had that going for me 5:11I'd kind of come up through the ranks of 5:12corporate America and the sales and 5:14management side so wasn't afraid to call 5:16companies it was easy to get to the 5:18buyers it usually could you know pester 5:20somebody enough to get a conversation 5:22and a lot of Prayer a lot of you know 5:25marketing materials that were sent trade 5:27shows we did the whole gamut but getting 5:31in the stores is not nearly as hard as 5:33getting the product to sell once it is 5:36in the store so that was another lesson 5:38learned because I got it in a lot of 5:41stores and they buy a first-run order 5:43but then my merchandising positioning 5:46was so poor we had a real long narrow 5:49box like an 80-inch box because it was a 5:51big awning and it was maybe a four inch 5:53by four inch it was a long narrow box 5:55and you know they would shove me down at 5:57the bottom of the shelf on the lowest 5:59possible point and then my price point 6:01was higher than the competitors they'd 6:03have my price point they're like 169 and 6:06then they'd have my competitor on sales 6:08$4.99 you know right above me and a 6:10giant display because there were a 6:12bigger company they had logistics so 6:14then I found myself on the phone to the 6:16store manager level you know please what 6:19can we do to move my product and you 6:21know just Quan and scrapin and begin and 6:23whatever I could do but you know through 6:25it all I started to realize who bought 6:28my product and this is another really 6:30important point when we invented the 6:32product we invented it out of a baseball 6:34softball because that was our need our 6:37problem solution but I realized that 6:39ladies that showed 6:40we're actually the primary buyer and I 6:44realize that more through direct sales 6:45than retail and I was actually making 6:47more on the direct sales these ladies 6:49would call you know on Friday or 6:51Thursday and they've got to have it 6:53overnight and I'll pay extra for the 6:54shipping overnight and I'd be like what 6:57are you doing Oh dog show going to dog 6:59show weather all weekend and then Monday 7:00or Tuesday of that week I would get all 7:02these orders because these ladies had 7:05bought it they'd be out showing their 7:06dog and they they're more of an affluent 7:08group it's women who buy things and and 7:10they started just sharing it and I get 7:13all these orders and I start thinking 7:14why need to be targeting the dog shows 7:16instead of going to these big you know 7:18$5,000 wholesale trade shows for buyers 7:22where I'm actually not making that much 7:24on the margin I can go direct and pay 50 7:28bucks and go to a dog show have waste 7:30fewer people that I'm targeting but I'm 7:32selling you know three times the amount 7:34and making more on everyone wow that's 7:38amazing so I mean being able to watch 7:40that know know who your target market is 7:43and then have it transition to someone 7:45else that learning process is great that 7:49you notice that a lot of people would 7:50maybe wouldn't have noticed that and 7:52been still targeting you know basically 7:53the wrong not the wrong demographic but 7:55the smaller demographic yeah I think the 7:58advantage that that is one of the 8:00advantages of being a you know when you 8:02I left the presidency of a tech company 8:04and I thought you know it's big stuff 8:05and knew everything there was to know 8:07and I found out quickly I really didn't 8:09and then you know I found out suddenly 8:10I'm the janitor and the shipping clerk 8:12on the flyer girl on customer service 8:14agent you know I'm everything and with 8:17no title it doesn't matter anymore okay 8:20so you have to listen you have to listen 8:23to it happening and so I thought that 8:25was some that was good that was good 8:27advice and now that ability to listen to 8:31customers is what makes me so excited 8:34about asking on TV because there's a 8:36market liability testing that people can 8:38really benefit from that's earlier than 8:41than all the manufacturing and all of 8:43the order fulfillment and the 8:44warehousing so I think inventors can 8:46save a lot of money and find out way 8:48more information upfront yeah you know 8:51that's like that you bring up a great 8:53point and it's funny 8:54I always have this question I'm going to 8:55ask and then as you're mentioning things 8:57like oh that's a better question there's 9:01so much in this industry there really is 9:03and and there's so much not so much 9:05education and everything everybody's 9:06learning things I learned something 9:07about the industry every day that I 9:09think I know a lot of the inventors that 9:13come to myself and probably that you 9:14come they they have this notion in their 9:17head they're who they're perfect you 9:19know customer is and is it a good thing 9:22or a bad thing or they should allow 9:24somebody like yourself to be able to 9:25really figure that market out and 9:26there's there ways to do that yeah I 9:29think it's a good thing to begin with 9:31because you invented the product out of 9:33a problem that you had and there's a 9:35solution for that so I think it's good 9:37to have some idea I actually call that 9:40fishing for fishing in the dark you've 9:43got all these ponds I think of it as 9:45like all these ponds out there and they 9:47have fish in them but you don't know 9:48which has the most fish and you don't 9:50know if they're biting on your bait 9:52so you sorta have to fish somewhere for 9:54a little while and see if it's working 9:55and then if it is then you want to stay 9:57but if it's not working maybe you gotta 9:59you know pick up and move to a different 10:01pond and check it out so I do think it's 10:03important to know that but you've got to 10:05be open to change with as seen on TV 10:07there is a market viability testing 10:10process that is proprietary to our 10:13category so it's not that it would be so 10:16relevant in any other distribution 10:18channel but it's time tested for as seen 10:21on TV and when I say asking it to be I'm 10:22talking about a section of shelves at 10:24the store so this process is where we 10:27basically do surveys we do web tests and 10:31we do two-minute commercials testing 10:34targeted as-seen-on-tv 10:35existing buyers which is pretty much the 10:3840 to 75 year old woman by sub majority 10:41product also it's a homerun play it's 10:44not a niche kind of a traditional play 10:48it's more about if this thing's going to 10:50take off it's going to take up a big so 10:51when you did the mass market which is 10:53pretty much women buy most of things but 10:56these surveys tell us are people 10:59resonating with the problem that it 11:01solves the web tests tell us are they 11:04willing to spend money on the product 11:06and then the two minute tests 11:08tell us any number of things that's 11:10really the grandpaw about the test and 11:12it tells us everything from buyer intent 11:14- what it features benefits people are 11:16biting on - are the profits there before 11:20we roll out because it's pretty 11:22expensive endeavor so you want to get 11:23that math right early on and I think the 11:27the information that I learned about 11:29target marketing through my sports 11:31Schade experience and through what I've 11:33seen has made me just fall in love with 11:36the su-9 TV market viability testing 11:38process because I think it's so valuable 11:41for people to understand who their 11:42market is and not just who their market 11:44is but why why are people buying your 11:47product what is the hot button you know 11:49solution or feature that they're 11:52resonating with yeah and it seems like 11:55you can get down to that or drill down 11:57to that feature fairly quickly I mean 11:59with this process that you just 12:00explained is it is it a long drawn-out 12:03process or is it something you do before 12:04you even you know put inventory into it 12:08yeah it can be done both ways but I 12:11think for the average independent 12:13inventor it's better to do with a 12:15well-made prototype as they have a 12:17well-made prototype that we can shoot a 12:19two-minute commercial on and make it 12:21look market ready in our category we're 12:24talking about physically small products 12:26that solve everyday problems so it's 12:28easy to manufacture each product that's 12:30not hard they're not a lot of materials 12:32they're not you know solving world 12:35hunger they're little gadgets it's all 12:36over any problems so we can get away 12:38with testing prior to manufacturing and 12:41then when we get orders to fill we can 12:43fill those fairly quickly you know with 12:46a small production run and that's 12:48already set up but the whole process can 12:50actually take under 120 days point out a 12:53lot of information and then our launch 12:55sequence the fastest I've seen is about 12:58six months that we can be literally on 13:00the store shelves I'm talking all 13:01Walmart CVS Walgreens which is very very 13:04fast under the longest is about eighteen 13:07months and that's because you know maybe 13:09the testing data came back where we 13:11needed to look at this or that we needed 13:13to tweak it a little bit and and 13:15position it better I do it one another 13:18story I want to talk too long they have 13:19another quick 13:20right damn right so on the windshield 13:23wonder a lot of people know not product 13:25I don't have behind me of it is it's 13:27basically a chamois on a stick it's a 13:29brilliant product but we tested that 13:31product a lot of different ways it's a 13:33product that cleans windows and so we 13:35tested it on the sliding glass door on 13:37the windows on the mirrors you know all 13:39around the house but consumers just 13:41didn't resonate with it with those 13:43features and benefits being tested it 13:45wasn't until we we got to the automobile 13:48the inside of your - under your 13:51automobile where it's kind of difficult 13:52to get your hand back there you know 13:54that was the hot button and when we 13:57tested that all of a sudden the sales 13:59went through the roof because that was a 14:01problem that people were willing to 14:03spend money to solve and that may be 14:05different so we've changed the whole 14:072-minute spot to focus predominantly on 14:10that one feature you know that much time 14:12in attendance but and then we mentioned 14:14the other things really but we don't 14:15really have to mention them because 14:17consumers are smart they're going to buy 14:18it because that's a problem that they 14:20want to pay to solve but then of course 14:22they're going to use it for their 14:23sliding glass door and their mirror and 14:24all the other things that's you know are 14:26kind of obvious so finding the dominant 14:29purchase pain point is such a critical 14:32thing for inventors and that's why if 14:34you are an inventor a new party made 14:36product or you're actually are you 14:38selling products for tradeshows 14:39that's good experience you're building 14:41because you're listening to people when 14:43they come up and when you're actually 14:44selling product ask them what is it 14:47about this that make you want to buy it 14:49you know you can ask people information 14:51and they're very willing to share with 14:53you why they're doing what they're going 14:54to do and that's that's really important 14:57to do I also recommend getting video 14:59testimonials while you're out there too 15:00because that will help yeah well you you 15:03have hit several points in that story 15:05one is you have to be open to change I 15:08mean you can't think of everything your 15:09product is going to be it could be a 15:11great product but if you're going after 15:12the wrong market or if you're explaining 15:13it the wrong way 15:14no one's going to get it so you have to 15:17be able to change the way you're doing 15:18things or the way people are looking at 15:19it that's awesome and then the product 15:21itself I mean you don't think and don't 15:23be so stringent about what your products 15:25for because it's a living thing you know 15:27just like the iPhone when they first 15:28came out the iPhone they could never 15:29have imagined how many uses it's for now 15:32and so it's it's 15:34Gouri that's a great story a great way 15:36to tell people you could have a great 15:38idea but don't be don't be closed to 15:41change absolutely absolutely 15:44now that's that's that's awesome then 15:45the as seen on TV space first of all I 15:48mean from anywhere from 6 to 18 months 15:50that's that's a great way to hear at the 15:53launch pad we get a lot of people that 15:54come in and say well I need to get a 15:55purchase order and you know they think 15:58that when they get a purchase order 15:59they're they're getting product you know 16:00into a store in two or three months and 16:03you know just getting appointment with a 16:04buyer right well I mean what kind of 16:06time is that just to get an appointment 16:08with a buyer it must be a lot a while 16:10well that's traditionally on the making 16:13sales strategy when inventors are trying 16:16to do that yeah that can take a while 16:17and that's a really good point you make 16:19because if I could just contrast the 16:21difference between the make and sell 16:22strategy traffic my first product versus 16:25licensing so what I experienced was uh I 16:29raised money I had funding and then I 16:31had some debt and I could access to 16:33capital which I was in pretty good 16:34position and then but you make the 16:37product you're manufacturer wants to be 16:39paid and so you're paying him right 16:41after you get the product but then it's 16:43on the slow boat from China at 30 days 16:45and then by the time you ship it out to 16:47the retailer this is best case scenario 16:49when you've got orders you fulfill the 16:51orders and then so that takes another 30 16:53days and then they agree to pay you and 16:56so that's you know they say they'll pay 16:59in 30 or 60 they really pay you in 90 or 17:02120 and then what happens when you get 17:04paid is so you floated the money 17:06best-case scenario no problems you 17:08floated the money you know probably six 17:10months from you know the days that you 17:12made it to the date that you're getting 17:14paid that's a long time to run with no 17:16cash and then what happens is a lot of 17:18retailers they'll give you charge backs 17:20and so you know with Cabela's for 17:22example allows Cabela's but all of these 17:24retailers do this they send me a 17:26three-inch book full of you know all the 17:28ways that the bar graph has to be put on 17:30the Box you know within certain 17:32parameters can say they're an 17:33operational you know machine they've got 17:36to have it come a certain way because 17:38they're turning through products so I've 17:40got a you know from me and my friends in 17:42the warehouse taking the bar graph you 17:45know on to the right spot and if you 17:47don't do it just 17:47they charge you back on your invoice you 17:49paid them for your mistake and so all of 17:53a sudden my manufacturer wants more 17:55money and my retailer buyer is saying 17:57you've got to sell it for less everybody 17:59squeeze in and all of a sudden I'm the 18:01one doing all this work for you know for 18:05not as much money whereas when you 18:07license I can take that IP right from 18:10the beginning and then give it to a 18:13company like ours you don't have to do 18:15the manufacturing you don't have to talk 18:16to the retail buyers you don't have to 18:18do any of the order fulfillment all you 18:20do is sit back and give us your two 18:22cents on why your products are great and 18:24we're going to take the ball and run 18:25with it do the testing will fund the 18:28manufacturing we're going to fund the 18:30operational rollout we're going to bring 18:31in the right partners the right 18:33strategic allies the right people needed 18:35and we're just going to send you a check 18:36in the mail so you know you sit back and 18:39enjoy your life now because we're 18:42dealing in homeruns that check can be 18:44significant and then asking on TV 18:46royalties and inventor could end up 18:48making you know two to four million over 18:51a three to five year period which is 18:54pretty nice when you'll have any risk 18:55and any skin in the game now that's 18:57different than other types of Licensing 19:00I do other licensing and other 19:02categories and I think a lot of times 19:05inventors have a misunderstanding about 19:06how much they're really going to make if 19:08you're talking you know a smaller 19:09rollout like I'm sorry let me just 19:11contrast for asking MTV we're going to 19:14sell five to eight million units per 19:16year for a short life cycle of one to 19:18five years so that's a lot that's a home 19:20run that's a ton of product we're moving 19:22every other place in the store they're 19:25not going to sell that many units there 19:26if they sell a couple hundred thousand 19:28units that's pretty good if this I mean 19:33the init's or main units that's not them 19:36to be ashamed for the inventors royalty 19:38on that it's going to be significantly 19:39less average numbers that I see our 19:42inventors making twenty thousand a year 19:44on licensing and non-traditional 19:45products if you make fifty thousand a 19:47year that's great that's a million about 19:50a million units a million dollars in 19:51revenue that accompanies make in and 19:53inventor might get a 5% royalty then 19:55maybe makes a two thousand year not that 19:57that's a pretty good part-time job to 19:59make you know and then every now and 20:00then to get 20:01you get the 150 to 200 and then you get 20:03up into the million so that's how non as 20:05seen on TV licensing goes in asking on 20:08TV though you know you're talking a 20:10significant amount of money in a very 20:12short period of time so and the cost to 20:15get in are so much less because you 20:17don't need a patent if you have one 20:19that's great there is a time for 20:21patenting but you don't need it all we 20:23need is a well-made prototype and a 20:25smartphone demo video and you can easily 20:27show me your idea and I can say yes no 20:29or maybe and then at least you have some 20:31quick advice well that's why the as seen 20:35on TV space is is so great for inventors 20:38and I agree with you because you can 20:40move quickly there there isn't as much 20:42risk for the inventor there you don't 20:44have to have as much you know funds 20:46layouts and much funds is to have a good 20:48prototype you can get them going so 20:49quickly and you know the proof of 20:51concept is much faster than we generate 20:53the general licensing route because just 20:56like seen your product out of the 20:58as-seen-on-tv space could take months 20:59alone whereas you know a product pretty 21:02quickly right I mean what type of 21:04products are you looking for you know 21:06pretty quickly if that products going to 21:07fly yeah I do I I can't say that I know 21:11what will be the next video got I wish 21:15where's our good we don't know the 21:17consumer markets tickle we don't know 21:18what they're going to buy all we really 21:20know is what they have not bought in the 21:22past and what they have bottoms have a 21:25lot of data and so everything going on 21:27in the industry no matter who who's 21:29doing it you know it's a small industry 21:31and there's some big players that we 21:34partner with that are predominant and 21:36operational rollout but we're all 21:38looking at what everybody is doing 21:40sometimes companies to your competitors 21:42sometimes they're your strategic Ally so 21:44it's a small kind of fairly closed 21:45community really but I look at probably 21:4830 to 50 products definitely a week and 21:51sometimes a day so it's amazing to me 21:53how many similar ideas I'll get from 21:55people at different parts of the world 21:57that I know don't know each other yet 21:59their concepts are amazingly similar to 22:02one another and then also I've got 22:03product scout team and they're looking 22:05at products on the public domain I'm 22:07crowdfunding at trade shows and 22:09everywhere else and they're sending me 22:10products so I'm looking at a lot of 22:12products and if I if you tell me and I 22:15vo or you tell me a problem that you're 22:17trying to solve usually if you just tell 22:19me that problem you're trying to solve I 22:21can guess what the solution is really 22:23seen several other attempts to solve 22:25that problem 22:26and I have information about whether 22:28consumers are going to pay to solve that 22:31problem because that's a whole separate 22:33issue you know we can all agree that 22:34coming out of the grocery store with 22:38plastic bags hurting my hands is a 22:40problem especially for women it's kind 22:43of a pain yet I've seen every type of 22:46plastic grocery bag holder that you 22:49could possibly imagine 22:50lots have been tested and they haven't 22:52made it so you know you're an inventor 22:54that's information that's really really 22:57valuable and that's something I share 22:58every month in my inventing workshop I 23:00told you that nonprofit that I host a 23:03meeting where we co invent things and 23:05that's information I share because I'm 23:08talking to us not just the as-seen-on-tv 23:10community I'm talking to outside the as 23:12seen on TV community and I'm hearing 23:14what comes what products traditional 23:17companies are testing that don't go 23:19anywhere that fail and this is 23:21information so valuable to an inventor 23:23to have early on because if you're a 23:25medium to large-sized company and you 23:28test a product and it fails you probably 23:31didn't get a patent on it because you 23:32did this early stage testing to see if 23:34it's worth investing time and money if 23:36it fails you're not going to get a 23:37patent so it's not going to come up on 23:38your patent search and it's also not 23:41going to come up on your google amazon 23:42search because they never launched it it 23:45didn't it didn't fly in the early stage 23:48testing so they've been putting more 23:49money to it so that's information it's 23:51sort of I call it the dark hole out 23:53there where you just don't know as an 23:55inventor what you don't know this is 23:57where I love to offer value to inventors 23:59and I will tell inventors if I've seen 24:02things it doesn't mean I'm the no I'll 24:04be all of inventing and I certainly do 24:06not have all the information about 24:08inventing but if I can give them 24:10additional insight and let them know at 24:12least what did not work for someone else 24:13now you're making an educated risk if 24:16you're an inventor part of being an 24:18inventor is you see things other people 24:20don't see 24:20you know things other people don't know 24:22so just because somebody gives you some 24:23negative advice doesn't mean that 24:26they're right and that doesn't mean that 24:27you 24:28have a way that will make it work but I 24:30want to at least give people the 24:32information to know go or no-go 24:36decisions because I do talk to a lot of 24:38people and often you know people are 24:40cached in their 401ks they've taken 24:42their kids college education you know 24:44they've spent a lot of money 50 to 80 to 24:47150 thousand is common and and their 24:50ideas that maybe somebody should have 24:51given them some hard truth about early 24:54on that's what I want to do for people I 24:56don't want to see people waste their 24:57money I want to see people place good 24:59bets and make sound risk and reward 25:04you know conscious decisions and then if 25:06it takes off yay it takes off if it 25:09doesn't at least you try you know 25:11there's no shame in try and try again 25:13no no and I agree with you hundred 25:17percent and that's kind of why I wanted 25:18to have you on the show because you know 25:20your vast experience and a lot of the 25:23people we have on the show they have 25:24great experience in their space and and 25:26one of the biggest basis is licensing 25:29products but then the as seen on TV 25:32space is big too and you kind of combine 25:33both of those which is so important and 25:35I agree with you a lot of times people 25:38should look into licensing there's 25:39there's no doubt about it but they have 25:40to have to be open again we talked about 25:42again to change and getting information 25:44talking to somebody that really knows 25:46the space and if you've seen the 25:48products before so you know again you 25:50can't do it on your own until I talk 25:52about this every on every show you 25:53cannot do it on your own you can invent 25:55things you can have ideas but you need 25:57to talk to people that know that have 25:58been in the space for a while and they 26:00could not only save your time but a 26:01whole lot of money I mean that's the 26:03best the most important thing is to have 26:05those funds yeah exactly 26:08you know I think too about licensing is 26:11even if you go into it thinking you're 26:13going to go to make and sell route if 26:15you're if you're going to build you know 26:18a 20 million dollar or less business you 26:21might not get you know any competition 26:24from a major player but if you really do 26:25have the next big product no matter what 26:27your category is you're going to get 26:29market competition there are going to be 26:31companies that come and either it's a 26:33direct replica of your product or it's a 26:36close enough you know non-infringing 26:38patents replica or problem-solving 26:40products 26:41that competes with you and when with big 26:43companies they're going to compete hard 26:45so I I do encourage that you think about 26:49licensing no matter what your intention 26:50is when we get into it if a big 26:53billion-dollar company comes calling and 26:55they want to license your product I say 26:56get married marry simple money take it 26:59and they'll live your happy life and let 27:01them run with it because if you don't 27:03partner with them you are in effect 27:06choosing to compete with them and most 27:08inventors are just not equipped to 27:10compete with a big company so I love 27:13licensing in that way I think it's a 27:15better way i love it because i think 27:17inventors that do it well can make a lot 27:19more money for a lot less risk they 27:21don't think that upfront they still 27:23think make himself sometimes is a better 27:25way to go but if it's really a big big 27:28revenue selling item you're doing 27:31yourself a service to get it in the 27:32hands of a well-established company that 27:34already has all the processes in place 27:36and they're faster and can compete with 27:38those competitors you know with them 27:41being your bouncer now instead of being 27:43your competitor they're going to 27:45actually sort of be a forerunner for you 27:46and and take that thing by storm and 27:49you're on the team so that's a better 27:51way to go definitely 100% it's great 27:54advice because there's no reason to do 27:56that I mean and get to check go get on a 27:59beach lay on don't worry about it 28:01because you can't do it as those big 28:02companies you can either like you said 28:04you can compete with them or you can go 28:06with them and it's one of those things 28:07where you can't beat them join them and 28:09they got billions of dollars to spend so 28:11you're exactly right you know and I tell 28:14I talked to our inventors and they're so 28:16worried about someone copying their idea 28:19or someone doing it they're you if 28:20you're a said if you have a successful 28:22product they are going to copy you and I 28:25mean it's it's a form of flattery but 28:27it's going to want to do those things 28:28you can't stop it you can't stop it you 28:30need to hit the market as hard as you 28:31can or license and and try to get rid of 28:34the competition that way so I agree with 28:36you hey I'm glad you mentioned that 28:38because that fear of somebody stealing 28:39their idea sometimes also prevents 28:41people from getting the right partner at 28:43the right time so in my experience the 28:46big companies are not going to copy your 28:47idea if you have an idea or you have a 28:49little prototype that's not what they're 28:51copying they're they're copying products 28:54that are doing 28:54so if you've got a viral video you fund 28:56a crowdfunding campaign you're on the 28:58public domain you're at some risk in 29:01that regard but they mostly want to work 29:03with the inventor so he'll be friendly 29:05and likeable and sign a deal they will 29:07pay you your royalty and it won't be a 29:09problem you know you can get on the 29:11bandwagon the other side of the coin is 29:13when you do have your initial idea don't 29:15be so paranoid that the people in the 29:17inventor community are going to steal 29:18that because I my experiences are not 29:20I've been in the inventing community for 29:2215 years at travel around the country go 29:24to inventor clubs crowdfunding groups 29:26and I talked to most of people most the 29:29service providers and inventors around 29:30you'll find they're well-meaning good 29:32intentioned people there they don't want 29:34to steal your idea they want to work 29:36with you they want a help with you they 29:38will sign non-disclosure so if you're 29:40very concerned about it go ahead and get 29:42somebody to sign a nondisclosure and 29:44then tell them your idea and at least 29:46listen to their feedback you don't have 29:48to buy a service for them I think you 29:50know I guard my cash like a junkyard 29:51duck so I'm not one to just spend money 29:54willy-nilly 29:55you know I'm much much more fiscally 29:57conservative but I want to listen to 29:59people I want to hear what they've got 30:00to say and get that good advice you do 30:03not have to run to a patent attorney 30:05right away most people patent at step 30:09one because they're so afraid somebody's 30:10going to steal her idea really patent 30:12Venus step four I don't know you're 30:15aware that and there you are I know but 30:18most inventors 90% of patents issued 30:20never make the inventor a dime that's a 30:23big step of stat and it's because 30:25inventors patented it step one and they 30:27really should have waited till step four 30:29so don't be afraid to share your idea 30:31with people in the inventor community 30:33that are going to help you get NDA is if 30:35you feel more comfortable but get the 30:37wisdom that you need before you spend 30:40money you've got to look at the cash 30:41that you got to invest you guys think 30:43this is this is gold this is fuel it's 30:46gas and you only have a limited amount 30:49so you don't want to just throw it you 30:51know office the wrong thing you know 30:53actually what I say it's you're buying 30:55the right thing at the wrong time that's 30:58what inventors are doing they're buying 30:59the right thing at the wrong time 31:01yeah and again don't let fear stop you 31:04from moving a product forward I don't 31:06know about you Kerry but 31:09I've been doing this a long time and I 31:10don't recall ever somebody telling me 31:12that a company has stolen their idea I 31:14know people have been fearful of it but 31:16I can't recall a company stealing an 31:18idea you know I see a couple of things 31:23now more than ever with the crowdfunding 31:25where I do see that the there's a lot of 31:28Asian competition I'm crowdfunding sites 31:30and I have sometimes people tell me that 31:33people are but usually they're wrong I 31:35mean usually what they're telling me is 31:37they had an idea that they never did 31:39anything with and then a big company 31:42came out with that similar idea so it's 31:44not like a company really stole their 31:46idea you know it's somebody got to 31:48market and actually did something with 31:49it before they did anything with it is 31:52the more common thing yeah 31:54and occasionally in a licensing 31:56agreement the other thing I'll see that 31:57say that's legitimate is in a licensing 31:59agreement that is done a lot of 32:01inventors they don't really get help for 32:03how to write their licensing agreement 32:05and or sometimes attorneys are you know 32:08worried too much about the tiddle and 32:10the TAT and sometimes if you don't get 32:12audit right syn there I have seen 32:14situations like the guy that did the big 32:18giant squirt gun what was that guy's 32:19name he was like a NASA and Venter a 32:22real smart guy and they took his 32:26technology and used it on another 32:27product line and that was he should have 32:30been paid for those royalties and I 32:32think he got like a hundred and eighty 32:33five million so you know you see 32:35something like that but I agree with you 32:37a hundred percent but in the beginning I 32:40have never had anybody tell me that 32:42somebody took their idea you know and 32:45ran with it it just doesn't happen so 32:47don't be afraid of that get the help you 32:48need yeah fear fear will definitely slow 32:51your process down there's no doubt about 32:53it 32:53and of course as as you said spending 32:57your funds are spending your resources 32:58in the wrong time or in the wrong place 33:00will slow you down also so down yeah I 33:05want to change gears we're kind of 33:07getting low on time here and this is 33:09such an important session or episode 33:12because licensing again is is a big is a 33:15big way for inventors to move their 33:16product forward very quickly and 33:18especially at the add scene on TV which 33:21I see popping up more and more 33:23stores it's something I didn't notice 33:25that trend is it popping away 33:26rowing yeah there was just an article 33:28written it used to be that we were three 33:30hundred and fifty billion dollar 33:31industry and I can't remember what the 33:33growth percent is but it's pretty 33:35significant and that's the thing how do 33:37you know with it a category is doing 33:39well is where it's positioned in the 33:40stores our section of shelves is always 33:43way at the front it's because more 33:44products flying off that section of 33:46shelves more than any other section of 33:49shelves in the store and it is in part 33:51because of the massive media campaigns 33:54that are done so it's a good it's a good 33:56space to be in I really think it's 33:58important for inventors to you know get 34:01in getting quick let me look at their 34:02idea I like first look when I trust on 34:06my inventors were building a team of 34:07collaborative inventors and products 34:10galitsin and I'm willing to share inside 34:12information I'm as transparent as I can 34:14be I'll tell you the truth and what I 34:16want in return is I want first look 34:19because it's highly competitive and you 34:21know you don't want two products from 34:23two different competitors it's all the 34:24same problem going out at the same time 34:26because then everybody makes less 34:27everybody of the same operational costs 34:29so first look and the ability of my team 34:32to be able to test the products early on 34:34and if we can get traction you know we 34:37will take it by storm and if we can't 34:39then you know it was a good learning 34:42experience you can still go on and sell 34:44your product in any number of other 34:46categories and now you have a lot more 34:48information so there's really no risks 34:50in the inventor to do it it's just my 34:53criteria is narrow physically small 34:55products the shelf space is very narrow 34:57so I can't have physically big item it's 35:00got to be minimal packaging it's going 35:02to be about under $50 retail that's what 35:04I look for and then it has to solve a 35:06mass market problem it can't be 35:08something from biking or for grilling 35:10out it's really got to be a mass-market 35:12kind of a product okay yeah that was 35:15going to be one of my questions is you 35:16know the type of types of products that 35:18you're looking for and you kind of 35:20explain that in a sense the mass 35:22marketing and everyone thinks that you 35:24probably hear this I say well who's your 35:26product target market and they say 35:27everyone in the world I say don'ts don't 35:31tell anybody else that 35:34what you are looking for products that 35:37are large-scale you know usable products 35:41now they said they solve like is our 35:43home products better outdoor products I 35:46mean is it does it doesn't matter in 35:47that sense know people always ask about 35:51the categories and when I talk you know 35:53I'll give a list of categories but 35:54that's less important than the unique 35:57factor something that's unique is really 35:59important and this is a distinct 36:01difference because in most traditional 36:03shelves in the store they don't they 36:05want they want a lot of SKUs they want 36:08to take up space with a variety of items 36:11in our category we don't want 36:13competitors and we don't want a lot of 36:15SKUs because we're going to we're going 36:17to drive consumer traffic through the 36:19media so we need a product that's unique 36:22it's got to be something that you can't 36:24buy somewhere else the worst thing for 36:26us would be to spend you know three 36:27million dollars on a media campaign and 36:29then have you go buy a backpack at the 36:31backpacks place you know our product has 36:34got to be so unique that it stands out 36:36in your mind we call it the wow factor 36:38what's the wow factor that stands out in 36:40your mind that makes you think oh I've 36:41got to buy it from the as seen on tv 36:43section of shelves because that's the 36:45only places available so that's really 36:47important that wow factor and sometimes 36:49it's a matter of marketing I mean we 36:51have launched products that have 36:53actually been on the store shelves in 36:55other areas not selling that great for a 36:58long time and it's just a clever 37:00marketing angle that comes up and all of 37:02a sudden something blows up so it 37:04doesn't actually have to be a new item 37:07it just has to be a unique selling 37:09proposition that creates value that is 37:12solving a pop problem people are willing 37:14to solved great one of the things that 37:17when I'm shopping who's ever shopping 37:19with me I Drive them crazy because I'm 37:21always circling the as seen on tv 37:22shelves look to see what's new out there 37:25help me to and I love it when people on 37:28my social networks if you take pictures 37:30and post them on my social networks or 37:32send them to me I love that I love to 37:35make my facebook inventors corner with 37:37Carrie Jesse I love to make that where 37:40you know you can post pictures from the 37:42Walmart and tampo or you know it's just 37:45fun it is fun they're the real 37:48really is so we wind down a little bit 37:50here one question I do want to ask and 37:52you know some of the listeners may have 37:54to work with you to get started with you 37:56is there any cost good question and 38:00we've got three different kinds of 38:02agreements so for most independent 38:05inventors that have a lot of ideas don't 38:07want to put a lot of money into their 38:08product you would want an option one the 38:12fully funded licensing agreement for 38:14that there is no cost 38:16there's no submission fees there's not 38:17no charge to you it of any kind what I 38:20need from you is a well-made prototype 38:23the best quality prototype that you can 38:26possibly make I need it to look market 38:28ready and then I need you to shoot a a 38:30two minute or less a demo video with 38:33your smartphone it doesn't have to be 38:34professional with your smartphone posted 38:37on YouTube and an unlisted setting and 38:39then just email me a link and when you 38:41email me a link don't send me the big 38:43file I need you to post on YouTube and 38:45an unlisted setting to me the links for 38:47the name of the product in the subject 38:49line that will allow me to track 38:51conversations about that product 38:53I'll give you feedback I'll try to 38:54respond pretty quickly and let you know 38:56what I think and then if it's a win will 38:59fund it all and pay your royalty and 39:01we're off to the races second type of 39:04agreement would be more for somebody 39:06that's already put some money in their 39:08product if you already spent money on 39:09patents you've worked some money maybe 39:11on manufacturing or a big crowdfunding 39:13campaign or you don't really want the 39:15full licensing but you know you don't 39:17necessarily want to take it all yourself 39:20kinda want a partner we will let those 39:22types of inventors buy in for a seat at 39:25the table so to speak and they can help 39:27us offset the cost of some of the 39:29testing camp campaigns and for that 39:32money that they're investing in that 39:35they would own the asset so they would 39:37get to see some of the data and they 39:39would have access to it they're kind of 39:41up on the team on the creative team 39:43that's uniquely different because when 39:45you're fully licensed and this is true 39:47of any category fully licensed generally 39:49the inventor is not involved the big 39:51company knows what they need to know 39:52they don't really need the inventor felt 39:53and the inventor is not paying any money 39:55so then the company will take the ball 39:57and run with it with a partnership 39:59you're kind of fine in receipt of table 40:01so you want to be 40:02adult and you want to learn and so we 40:03have that option for those people and 40:05that's on a case-by-case basis because 40:08there is a risk to it and you know in 40:10any any way that you spend money and 40:13inventing there's always a the option 40:15that you could lose that money so I 40:16think that you need to be aware of that 40:18because it's up to consumers and that's 40:20same as anybody but you want to place 40:22your bets wisely and if you've got a 40:24mass-market product and you want to be 40:26involved and you want to make a little 40:27more see the part of the table that's 40:29money well spent 40:30the third type of agreement would be 40:31more of a consulting agreement and this 40:33is what traditional manufacturers are 40:36coming to us now small and mid-sized 40:38traditional manufacturers that want to 40:41just pay for us to do the 2-minute TV 40:43test about a $50,000 investment but the 40:46alternative for them is that if their 40:49product does not succeed what they're 40:52doing now is they're spending two years 40:54and a half million dollars to find that 40:55out to put the store all the way on the 40:57shelf people walk by nobody buys it they 41:00eat it back now they're kind of wise 41:02enough on some of these products that we 41:04can help with that meet our criteria and 41:05they're saying hey let me just pay you 41:07we already have distribution we have 41:09fire relationships with manufacturers we 41:11don't really they don't need us for that 41:12but they do need us to run the test and 41:14so we'll run the test and then we won't 41:16take any royalty they get all the 41:18profits from their product we take I 41:20think I think it's some kind of a small 41:22media buy fee that we would get going 41:25forward so that's an opportunity for 41:27small and mid-sized manufacturers or 41:29companies that already have distribution 41:31to find out in under 120 days if they've 41:35got something that's fantastic and 41:37you're exactly right here they are like 41:39you said they're going to spend millions 41:40of dollars several years now they can do 41:43this within a few months even fifty 41:45thousand dollars for one of these big 41:46companies is is nothing compared to what 41:48they would have spent and then they have 41:50all that inventory they can't get rid of 41:51anyway 41:51exactly right oh it's amazing how much 41:54money that they'll spend on on a product 41:56and that's what I tell inventors to is 41:58if you can if you can test early on if 42:00you test with me with TD products that's 42:02great but if it's a different category 42:04product test before manufacturing 42:06because what happens so often is 42:08inventors will buy I call it a garage 42:10full of them they'll go to China they'll 42:11buy a garage full of them and then they 42:13get it and then they run out 42:14Kalen it and the market says we love 42:16your product but it's green and I really 42:18love it that we're in blue but you got a 42:20garage full of green and you can't you 42:22don't have any money left so you can't 42:24make your product a different color so 42:26now you don't like your product anymore 42:27today everybody wanted a different color 42:29than you've got yet you've got to sort 42:31of shove this other color down their 42:32throats because you need to recap that 42:34cash to buy your next one if you could 42:37just find out more information prior to 42:40making the manufacturing choice you know 42:43everybody would be much better off no 42:47doubt about it and you know you don't 42:48want people stuck with a garage full of 42:50products and there's no doubt about it 42:52that's why testing in numbers 42:53it just doesn't lie so I agree 1 percent 42:57any inventors are out there that are 42:58going to place an order for product you 43:01know get some feedback get some 43:02information before you do that there's 43:04no doubt about it so ok we're pretty 43:07much out of time I want to just ask you 43:09to let the listeners know how they can 43:13get in touch with you all the 43:15information that you're giving is going 43:16to be available on inventors launchpad 43:18show notes so if you're driving and 43:21Kerry's giving some URLs or website 43:24stuff you'd have to stop and write it 43:25down because we'll have all that 43:26information but just in case Kerry once 43:28you go ahead and give way for people to 43:29get in touch with you thanks three 43:31websites will it launch calm is the 43:35first one as seen on tv products first 43:37attentive ideas is non as seen on tv 43:40products and inventing workshop comm is 43:44at the co inventing every month jump 43:46online with me and will invest and stuff 43:48together and see if we can license it 43:50Kerry at will at launch calm as my email 43:54at CA RR ie at will it launch calm best 43:59emails get me up my phone numbers 44:01everywhere online you I'm not hard to 44:02find I've lived in the same town for 30 44:05years and for 30 years you know look me 44:07up I'm out there and that connect with 44:09me online I'd love to talk with you and 44:11answer your questions and most 44:13importantly I love to see your product 44:14ideas and find the next winner with you 44:16and have you be it that's great as you 44:19guys can see Kerry's not fooling around 44:21she's got a website for anything you 44:22need again they're sending your Center 44:25your information and she is very very 44:27active on 44:27to me which i think is great she's very 44:29reachable very approachable give you 44:31feedback without a problem I've seniors 44:33work with several inventors online like 44:37it was nuts and so I have no problem 44:38with that you know reach out to her 44:39definitely 44:40Carrie thank you so much for being on 44:42the show today we hope to invite you 44:45back let us know if anything big comes 44:46up I know you're always working on some 44:48great products and we'd always like to 44:49hear about them yeah 44:51thanks keep in mind the 60 second salad 44:53next one up in Bed Bath & Beyond look 44:56for that 60 second salad it went viral I 44:58wish she would have mentioned more about 44:59it but you'll see it'll be out in a big 45:01way wow that's great okay okay and we'll 45:03mention on our show notes thank you so 45:04much for that heads-up thanks all right 45:07guy you take care have a great day