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Inventors, Have You Heard About INPEX Americas Largest Invention Trade Show
May 10, 2017
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May 19, 2017

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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.
www.willitlaunch.com

Podcast Notes

1You Tube generated podcast notes, please excuse any typos.
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