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Podcast Notes

1YouTube generated podcast notes, please excuse any typos.
hi one and welcome to the inventors
0:03
Launchpad Network
0:05
I am calmer danesco your host for
0:07
today's show of the inventors Launchpad
0:10
with me I have a gentleman who's been on
0:13
the show before very exciting guest he
0:15
knows what he's doing in the on air TV
0:21
shopping type products not TV shopping I
0:24
would have to say as seen on TV market
0:27
his name is Bob greenstone and I have
0:29
him on the line hey Bob you over there I
0:31
am I'm doing good man I almost mix you
0:35
up with TV shopping and and as seen on
0:38
TV stuff you know a lot of people a lot
0:41
of people do yeah yeah I did you know
0:52
once you get into this business you know
0:53
it kind of all melds together
1:02
interesting you know people though let's
1:05
see are you ki BC or you HSN or are you
1:08
this for that you know it takes things a
1:10
bit of explaining so they until they get
1:12
to understand where everything yeah no
1:16
no I hear you meant so how's it going
1:17
out there I haven't talked to him in a
1:18
while I mean I know you're out in
1:20
California man how's the weather what's
1:21
going on the middle of January now we're
1:34
doing this and it's like a fox today in
1:37
LA it was 85 yesterday and you know was
1:41
your attempt back east in the Midwest a
1:44
couple of weeks ago we were still 60 70
1:47
so not too bad
1:48
oh not bad at all man it's awesome you
1:53
know again I mentioned Donny little
1:54
intro we did and we were talking before
1:56
the show started I haven't talked to you
1:59
in a while we haven't had you on the
2:00
show what's been going on I know you had
2:02
some really good products happening and
2:03
I mean I see I actually see a couple
2:05
your products on TV on the commercials
2:07
all the time and are they they how they
2:09
doing out there
2:10
you know I think I think I paint on TV
2:13
is doing pretty well right now I think
2:16
there's been our kind of resurgence like
2:19
every market it has its cycles but the
2:21
asking on TV market I think is is doing
2:24
pretty well I think the you know one of
2:27
the one of the negative things in the
2:28
marketplace is that the the amount of
2:31
advertising time which is kind of the
2:33
part of the raw material of the industry
2:36
how much advertising you can do fewer
2:38
people are watching TV fewer spots
2:41
available so the availability of
2:44
inventory to advertise it's been has
2:47
been a challenge I think for the
2:49
industry the on the plus side the the
2:54
retailers are still really supporting
2:57
the industry particularly companies like
2:58
Walmart and Bed Bath and Beyond we go
3:00
into Bed Bath & Beyond as I can ask you
3:02
know TV store much yeah and the big
3:06
retailers are doing well with it they
3:08
really they really like the business
3:10
because the billions of dollars being
3:13
spent on advertising drives a lot of
3:15
traffic into their stores and that's
3:17
what they want they want that traffic so
3:19
they usually give it very prominent
3:20
prominent locations so another really
3:25
positive aspect for the industry is that
3:29
and we're not for exactly why we have
3:31
some theories but in general we think
3:34
people are getting more comfortable
3:35
actually buying on TV and buying higher
3:38
price points so you're seeing a lot more
3:40
a lot more TV products that are you
3:43
don't see too many 10 dollar items
3:45
anymore every once in a while $14.99
3:48
product but it's really 20 dollars
3:50
enough with some products 40 50 60
3:53
dollars or more in the short form arena
3:55
and and I think part of that is because
3:58
people are feeling more confident we're
4:00
going more to less shipping and handling
4:04
driven environment I think people are
4:06
used to almost everybody is buying
4:08
remotely now whether it's mostly Amazon
4:11
I think you look at out they've been
4:13
doing it's amazing people are becoming
4:15
more and more accustomed to buying from
4:19
from that venue and we've been cutting
4:21
our
4:22
shipping and handling aspects of the
4:24
business and the higher price points are
4:27
doing well for the retailers because if
4:29
they can you know if they have a 5 or 6
4:31
inch facing shelf I need to put our feet
4:35
all perfect on there better than that
4:39
standpoint it seems to be going well I
4:42
never really kind of thought about that
4:46
as as commercial space as inventory but
4:49
you're right I mean with the advent of
4:51
the different types of channels and the
4:54
way that people are consuming television
4:56
I can see that lowering the availability
4:59
to reach them in in a commercial style
5:01
right it's competition you know how do
5:06
you reach a mass audience you know
5:08
Superbowl US this year right here we're
5:10
going for five five million dollars of
5:12
commercial and a couple years ago was 2
5:15
million and that was like gigantic 5
5:18
million you know it's really out there
5:20
so it's very it's hard for just the
5:22
general advertisers the insurance guys
5:24
and the car guys that you see out there
5:26
all the time
5:26
it's they have to reach a mass audience
5:29
too and they have they have deeper
5:31
pockets from an advertising standpoint
5:33
where the ask you know TV industry is
5:35
constrained you know if we spend the
5:37
dollar we gotta make back to in order to
5:39
to have it work the other guys aren't
5:41
constrained that way so they can buy buy
5:43
buy and it just leaves
5:45
like I said fewer eyeballs so even the
5:47
same stations with fewer eyeballs it's
5:50
makes it more challenging but we've been
5:53
we continue to work on finding things
5:55
that are more appealing to consumers
5:57
like we're using our web testing process
6:00
to test products before we actually
6:03
bring them into the asking on TV process
6:05
and it gives us a better chance to
6:08
having success on TV so more people are
6:10
using more people in our industry using
6:13
more technology to improve their chances
6:15
of success at Emmet higher price points
6:18
- which is that's kind of fun because
06:20
for years you know trying to find a
6:22
product that we could run on TV if
6:25
you're gonna sell a $10 ride and you
6:26
can't really pay more than a couple of
6:28
dollars for it out of China the package
6:30
could cost that much or you know a
6:32
quarter of it so it doesn't leave you a
6:34
lot of a lot of leeway now
6:36
you can sell things for $40 it opens up
6:38
a gigantic new world of opportunity to
6:42
find products to to look at and test and
6:45
that's definitely best suddenly maybe
6:47
huge difference fact our number one
6:49
product for our company right now with
6:52
our with our distributor all-star
6:55
marketing is as product called a Wonder
6:58
Bible it's a $40 product and we wouldn't
7:01
have thought a $40 product would would
7:03
have sold a couple of years ago probably
7:05
wouldn't but in in today's environment
7:08
you know people are embracing that and
7:10
many other products we see out there as
7:12
you know as much as $60 like that on
7:15
tell has a product that's the overall
7:17
wrap will the heating what kind of a
7:18
heating element through it that did very
7:21
well over the winter probably still
7:23
doing well $60 so we're seeing more and
7:27
more of that type of thing that years
7:29
ago wouldn't even wouldn't even have had
7:31
a shot yeah you know it's that's amazing
7:35
that you say that cuz it I didn't really
7:37
notice that but now that you're talking
7:39
about it I do remember that that 995 or
7:42
999 mark what you were didn't really
7:45
cross it that off and on on a product
7:47
but now I don't even see lower-cost
7:50
items on some of the infomercial style
7:52
products yeah I wouldn't say it's dead I
7:56
mean if you go into if you go into a
7:58
Walmart they have about 3540 feet of
8:00
space there and you'll see you'll still
8:03
see the ten dollar items some of them
8:04
are grandfathered in from the past and
8:06
that are still great products I've
8:08
low-cost good but it's very difficult to
8:10
to have the economics work on TV to get
8:15
an acceptable range feel though of cost
8:17
to to to revenue to make it work and
8:21
something on some things were bundling
8:24
products like we have one of our best
8:26
products ever was a wonder wallet it's a
8:29
great leather wallet with an interior
8:31
that opens up in the opposite direction
8:33
with the cards lined up horizontally
8:35
instead of vertically allowed twice as
8:37
much credit card space in there at half
8:40
half the thickness and we came out with
8:44
one made out of tied at the department
8:46
irreal that they used to make envelopes
8:48
does ever look you can't really tear
8:49
but super-strong and instead of putting
8:54
one in a pack for $10 we put two in a
8:57
back of brown and a black for $20 and
9:00
that seemed to that seemed to be good
9:03
acceptability but it put us at the $20
9:05
price point instead of the $10 price
9:07
point same item different packaging so
9:09
we're seeing others others doing that as
9:11
well so you don't keep changing your
9:13
strategy to keep it working for for for
9:17
TV even Amazon you know some of their
9:19
items the lower priced items they may be
9:21
on Amazon Prime but you have to make a
9:23
minimum purchase in order to be able to
9:25
get them on Prime I can't they can't
9:27
send you you know a washer that you
9:29
might need for for building something
9:31
that costs a quarter they can't do it
9:33
free shipping so you know has to work
9:37
together yeah I mean I love the I love
9:39
the strategic and the strategy part of
9:42
it you know thinking what you're gonna
9:44
do how you gonna get it out there
9:45
obviously so many things come at the
9:48
factor on the costs that are involved
9:49
and the other part I like is that you're
9:51
using the internet and platforms to do
9:54
some testing to see if the products
9:56
gonna be a big hit and it makes it not
9:59
only where it's less stressful for you
10:02
guys where you're not spending as much
10:03
doing testing say on TV but also you
10:06
could probably get products out to the
10:08
market somewhat faster that way you know
10:12
it's it's a there's only so many hours
10:14
in the day and tonight commercial for
10:16
something in to get or not to be pretty
10:19
expensive undertaking on the other hand
10:22
testing you know the the kind of the
10:25
metrics on testing we might have to test
10:27
as many as 30 to 50 items with our web
10:30
best final hit on TV will may make two
10:33
three four commercials from that but we
10:36
have to test a lot of a lot of products
10:38
to find out where the where the demand
10:42
is you know it could be a great product
10:44
and we never know which one every
10:45
everything that we tasks were excited
10:46
about you know it's kind of like you
10:48
ever see family feud and they give you
10:50
know the answer in the whole family's
10:51
going yeah yeah things we test we're
10:59
like yeah yeah this is going to be the
11:01
world this is a great one I love
11:03
you know and it's like we send it out
11:05
like goose eggs and necks so we we
11:09
learned not to get too attached to to
11:12
anyone perfect even when we have a
11:14
commercial board it's it's you pray a
11:16
little bit sometimes does wow that's
11:20
amazing
11:20
you know it's so true you just don't you
11:22
just don't know and being able to you
11:26
have to test multiple you have to just
11:27
keep going until like you said you hit
11:29
on something what is something that
11:32
because I know our listeners right now
11:34
they're gonna be listening they're gonna
11:36
say well I have a perfect product for
11:38
the a seen on TV market what are some of
11:40
the aspects or you know features or
11:43
benefits however you explain it that
11:45
they should really put together before
11:47
they send you something you know we get
11:50
lots and lots of submissions from people
11:52
and the the many of them have have the
11:56
fundamentals and there's definitely some
11:58
fundamentals it's not an absolute like
12:01
for the example on this Bible item that
12:03
we have it didn't really help the bowl
12:10
somehow it resonated with with consumers
12:14
but the product should be kind of an
12:18
impulse item number one it has to
12:20
absolute number one it has a song from
12:22
that thousand in the unique way or
12:31
solves a problem that no one really saw
12:33
before so for example the Bible the
12:36
Bible solves a problem for a lot of
12:39
people just don't want to read any more
12:41
people are getting less and less
12:42
inclined to read and particularly the
12:45
aging population like myself you know
12:48
eyesight is starting to go downhill and
12:51
and so it's harder to read less patience
12:54
to read less ability to concentrate and
12:56
also we're all multitasking you know
12:59
being a grandfather a bunch of great
13:03
little kids I see myself going out I
13:05
think my kid grandkids to karate and I
13:07
take him to this one and this thing and
13:09
it's all grandparents there now you know
13:11
it's like or at least half the people
13:12
are grandparents through these sweet
13:14
parents so people
13:16
I was getting squeezed even grandparents
13:18
time and and they're trying to get more
13:21
more out of their time so they're the
13:24
this audio Bible solves a problem for
13:26
one problem for visually impaired solves
13:30
a time problem also a lot of people have
13:36
made a commitment to their lives when I
13:38
get older I'm gonna study you know the
13:40
scriptures or I'm going to study the
13:42
Bible and they don't and all of a sudden
13:43
that comes along where they want to get
13:45
their grandkids with other kids involved
13:47
so it sounds a problem in that way you
13:50
know the swallow thing that we have it's
13:52
it's a thinner thinner wallet that holds
13:55
just as many cards so did it it didn't
13:59
in a unique way the inventor had brought
14:00
it to us fella named Ellen Beckley great
14:03
guy he got the idea for this thing and
14:06
and sold and sold a lot of these things
14:09
the another product we have is the
14:12
baseboard buddy that it's it's like a
14:14
little mop it's kind of a Swiffer type
14:17
of device for cleaning baseboards
14:18
everybody has different baseboards in
14:19
their house the molding by it between
14:21
the floor and on the wall so it forms to
14:25
those different types of molding is the
14:29
inventor on that Michelle Michelle
14:30
Goodman in in Phoenix she just saw a
14:33
problem in a way nobody saw it before
14:34
and people resonated it resonated with
14:38
people so it's solving a problem there's
14:41
a lot of problems that a lot of people
14:43
there's a couple of problems that that
14:45
so many people try to solve you know the
14:48
doggie pooper-scooper the doggie pooper
14:52
scoopers week and a lot of people left
14:55
their dogs and they come up with unique
14:56
way for doing it a lot of them are cool
14:58
but that area is kind of covered already
15:00
and it's it's got a little bit of a yuck
15:02
factor to it so if you're an inventor
15:04
and you have a doggie poop your scooper
15:06
you know set aside your your you know
15:09
thing maybe look in a different area we
15:11
always see lots of ones people come with
15:13
trash bag somebody that holds the trash
15:15
bag open again a lot of people have
15:18
already found that in fact if you're an
15:20
inventor one of the first things you
15:22
should do if you if you see a problem
15:24
that hasn't been hasn't been solved yeah
15:29
or in your life you haven't seen it
15:31
go naps on go to Amazon it start
15:33
researching your you're researching it
15:38
there now you may find something you
15:40
know yeah I've know I remember that
15:42
products way out there or you may see
15:44
that there's a few new products out
15:45
there that no one has no one it has
15:48
really exploited yet and something like
15:51
that you can you can take one of those
15:54
and maybe build on it read be take a
15:56
look take a hard look at the the rating
15:59
zone and the comments and start looking
16:02
I always read the bad comments I don't
16:04
care about the good comments frankly
16:06
it's the bad comments that get me
16:08
interested in a lot of bad comments are
16:10
well it broke the first day I used it
16:13
you know but I'm looking for the ones
16:15
like I was looking for a solution to
16:17
this problem of mine and I bought this
16:20
product but it didn't meet my
16:21
expectation because of blah you know I
16:25
there's so many examples of it so if you
16:28
can find something and if your product
16:30
solves those things it really can make
16:32
it happen
16:33
and there already is because almost in
16:36
it's been extremely rare that we think
16:39
of something we've invented many
16:40
products ourselves that we think of
16:42
something that doesn't exist out there
16:43
in some shape or form like we we
16:46
recently I say we I take credit I
16:49
invented something called the wonder
16:51
clipper wonder by the wonder clipper
16:53
wonder wallet maybe you see a pattern
16:54
there the so wonder clipper so you know
16:59
as I mentioned I'm getting a little bit
17:01
older also maybe you can't see you know
17:03
ice cream but I'm also giving a little
17:04
bit chubbier and less less flexible so
17:07
going down to cut my toenails it was
17:09
like getting to be more and more
17:10
restrained and when I actually was able
17:12
to get down there with a nail clipper
17:13
plenty and enough the perceptor for the
17:15
great person I get my toes and my abou
17:19
body would be blocking the light from
17:21
above so then I couldn't really see so
17:23
that I find myself holding a flashlight
17:25
in one am the nail clipper in the other
17:26
and it's it's the opening scene from the
17:28
commercial we have four wonderful but we
17:32
we actually and the end the front end if
17:34
it rotate so you can get a better angle
17:36
and we put a little LED headlight on it
17:39
at a particular angle and a rotates
17:41
along with the with the
17:44
with the rotating blade and it at the
17:48
perfect angle so now I can bend over and
17:51
get the perfect angle get the light on
17:53
it and it's great for clipping nails for
17:56
Tony almost coming up with also though a
17:58
finger nail version of it but little
18:00
em'ly ghana we made 15 claims on it got
18:02
a pact so the the so seeing it from a
18:07
little different angle then somebody
18:09
else saw you know me and this very
18:11
different angle because there i was
18:12
bending over my feet but seeing the
18:15
problem that exists in the everyday and
18:17
then coming up with a solution that do
18:20
you think researching it going to amazon
18:22
and again if you're in a vendor don't
18:24
get discouraged if it's on amazon you
18:26
you want to use that is okay that's
18:28
proof that hey there's some kind of
18:30
demand for this this thing especially if
18:32
you see something as a hundred two
18:33
hundred reviews on it and it's got a
18:35
three or a two point five or even even a
18:38
four you know you're gonna find some
18:39
openings and again if they haven't been
18:42
on TV they haven't exploited it so you
18:44
can use the house on it's kind of a
18:46
jumping off point for stuff because as i
18:51
mentioned before there's nothing that i
18:53
thought of that i would want to have
18:54
that already doesn't exist somewhere in
18:56
Amazon or on Alibaba is another great
18:59
resource would see a sourcing site for
19:02
stuff from China and around the world
19:04
and sometimes you find even more ideas
19:06
of things that haven't reached to us
19:07
market yet sometimes you can you can
19:10
make deals with those guys and get their
19:12
products as well so first thing is the
19:15
question was you know what do you do on
19:17
a truck first thing is you have to find
19:19
a problem to solve that it's not already
19:22
been popularized in some way and it
19:24
really will save a lot of people oh if
19:27
you can save 10 million people five
19:30
minutes a week in time you've got a
19:31
product you know you have to solve you
19:33
cure cancer thank god they're doing that
19:36
many people are out there we're working
19:38
on that no but the cure cancer you just
19:41
got to save somebody I hate doing that
19:43
thing I hate the most is thick I hate
19:45
that I got the same problem clipping my
19:47
toenails my baseboard so you just got a
19:51
little bit better a little bit different
19:53
solve a small problem for a lot of
19:56
people
19:57
in a unique way so that's number one
19:59
number two is to be able if the product
20:02
is demonstrable so if you can really do
20:05
a good demonstration of that product to
20:08
so that people can see it easily you're
20:11
putting it on TV so a typical commercial
20:14
opens up oh no is this human it's in
20:16
black and white you know in our in our
20:19
Wonder Clipper commercial the the we got
20:22
the old guy like me trying to trying to
20:25
lift up his foot one thing and a
20:26
flashlight in the other hand you know oh
20:28
no is this you well not anymore now
20:29
there's you know the and so you can
20:33
demonstrate the concept of it works so
20:35
people can get it relatively quickly
20:38
those are the first probably the most
20:41
important aspects of it and a lot of the
20:45
rest of it is tactical from there you
20:47
know how you present the advertising
20:49
manufacturing capabilities and nothing I
20:53
like to share with inventors is and I've
20:55
seen a lot of inventors go down the road
20:57
and spend life savings mortgage their
21:00
house cashing their kids college funds
21:02
apply for patents and all kinds of stuff
21:05
and parents are great but in the Esk you
21:07
know TV market a lot of a lot of success
21:10
is first to market a lot of success is
21:12
first to market and the really rather
21:16
see and I and I follow the own my own
21:19
advice on this if you've got a problem
21:22
that if you've got something that solves
21:25
a problem like these things we can go
21:27
through testing little surveys and stuff
21:29
like that to test and see if there's
21:31
demand for that before much it may
21:34
because if the idea itself is DOA and
21:37
then you spend a year there by four more
21:39
and ten twenty fifty thousand dollars
21:41
trying to develop it and tool it and
21:43
everything else it's it's it's it's a
21:47
lot it's tragic in many cases now some
21:50
of those people actually turn their
21:52
product into a business and and it works
21:54
so there's no absolute rule on it if
21:56
you're if you're hell-bent on being an
21:58
entrepreneur and these you think this
22:00
you can take this product all the way
22:02
you know maybe do it but if your idea is
22:05
to take it and then license it better
22:07
off bringing it to someone like myself
22:09
or there's other other
22:10
people in our industry that are
22:12
analyzing inventions all day long and
22:15
and just bring it to us and kind of see
22:17
are you on the right track
22:18
yeah if there's sometimes well people
22:21
bring us stuff that's just an idea and
22:23
we'll go yeah we love that we love the
22:25
problem with it sighs I have to love the
22:27
problem it solves number one so Wow I
22:30
love the problem it's all because once
22:32
you know the problem you can come up
22:34
with solutions so just like for me I
22:37
knew I had this problem clipping the
22:39
toenails and bending over and the whole
22:40
thing I just try solving the problem was
22:43
relatively easy because it's just like
22:45
making it's live or putting a lie doing
22:47
this doing that the rest is just
22:49
mechanics and those are the kinds of
22:52
things where we can we can work with
22:53
inventors to take them from problem
22:57
solution stage through a completed
23:00
product we don't charge anything we're
23:01
strictly into licensing one thing you
23:05
know I'm always cautious and cautioning
23:06
inventors honest is that the of course a
23:10
product is worth more to me in terms of
23:12
percentage of royalty if it's already
23:15
finished tooled ready to go manufactured
23:18
you sold 10,000 of them on Amazon you
23:21
know that's worth more to me than the
23:23
idea but you might have you might save
23:26
yourself 50 grand a year or two years of
23:29
your life between that and if you're a
23:31
person who wants to be an inventor and
23:34
I'm hoping a lot of people watching
23:35
watching your podcast are people that
23:38
are really saying hey I want to be an
23:39
inventor you're better off just getting
23:41
a lot of these into the pipeline cuz
23:43
it's a year or two years from start to
23:45
turning them into money get lots of
23:48
these ideas in to work with people like
23:50
myself or others in the business lots of
23:53
great guys in our industry and take
23:55
those problem solutions and see them
23:57
through and then in terms of a lot of
24:00:00
people say oh I don't want to get ripped
24:01:00
off you just got to check out who you
24:03:00
work with see if they're involved in
24:05:00
litigation see if they're you know if
24:07:00
people are saying bad things about them
24:09:00
social media there's no place to hide
24:11:00
today you know even if I wanted to be a
24:13:00
bad guy or somebody else it was no place
24:15:00
to hide you'll find it in a second well
24:19:00
you answered well you're exactly right I
24:22:00
mean I'll go back like your answer but
24:24:00
there is any place high and and and
24:26:00
again just for our listeners I don't get
24:28:00
along with every one of our clients Bob
24:30:00
probably doesn't get along there and
24:31:00
that's okay because there's a lot of
24:33:00
people in this industry that other
24:35:00
people can work with but there is no
24:37:00
place to hide so if you're doing if
24:38:00
you're not doing the right thing you
24:40:00
know people will find out very quickly
24:42:00
but but going back to where you were
24:45:00
talking about the problems to solve AAB
24:47:00
which is such an important piece and
24:49:00
also you got to make sure you're not
24:51:00
creating the problem right and then you
24:55:00
want to solve it but yeah that's the
24:57:00
first thing that that you would want to
24:59:00
ask is you know I keep running into this
25:02:00
problem how many other people are
25:03:00
running into it and I guess how would
25:05:00
they you know go about checking do they
25:06:00
just ask their friends hey do you have
25:08:00
this problem or is it just something
25:09:00
when once they had that idea said they
25:11:00
just send it over to you I told my wife
25:23:00
about it she said yeah that sounds like
25:24:00
a pretty good idea I said it's somebody
25:26:00
else friend that has diabetes
25:27:00
unfortunately they said you know my feet
25:29:00
are having a lot of problems now that
25:31:00
had diabetes and I've had a lot of foot
25:33:00
problems and so you kind of you kind of
25:36:00
get the you know the feel for it or you
25:39:00
start maybe see articles maybe there's
25:40:00
been an article in a magazine about
25:42:00
talking about that general problem and
25:45:00
again if you see that other people are
25:46:00
selling it on Amazon if you come to
25:49:00
something and you you know there's four
25:50:00
other items up there and they all have
25:52:00
one rating on them it might not be such
25:54:00
a demand but if you come up with
25:56:00
something in there's you know a few
25:57:00
ratings 10 20 30 50 100 ratings on it
26:00:00
you know once you've got something with
26:01:00
thousands of ratings maybe they've kind
26:04:00
of locked the market to a certain extent
26:06:00
be hard to work around them the the but
26:09:00
you never know you got again you got to
26:10:00
look at the you got to look at the bad
26:13:00
you got to look at the one-star reviews
26:15:00
because the one-star reviews are people
26:17:00
unless it just didn't get delivered
26:19:00
right or it broke the first day they had
26:20:00
it not to say there are some times you
26:23:00
can come up in the opportunity where
26:24:00
it's just quality problems people doing
26:26:00
it just did a bad job but if it's not
26:28:00
solving the person's problem I bought
26:30:00
this to solve problem X but it didn't
26:33:00
really solve it for me I bought this -
26:34:00
Sarang makes for my husband and it
26:36:00
didn't really sound a problem the
26:39:00
but I would say bring it to me or again
26:43:00
there's lots of other guys I want to say
26:44:00
them in out there that's that's honest
26:46:00
and reliable but i-i'll tend to spend if
26:49:00
I'd like a problem I might spend an hour
26:51:00
or two on the phone with an inventor
26:53:00
just like you know you hear me give it
26:55:00
away Nana you know I'll start thinking
26:57:00
it through with them and sometimes you
26:59:00
know even may apply for a patent
27:01:00
together or encourage them to apply for
27:03:00
a patent on it if it's if it's
27:05:00
worthwhile your pants are not cheap you
27:07:00
know even even a provisional patent is
27:09:00
pending for five grand Melissa you know
27:10:00
how to do it yourself
27:11:00
some guys don't have to do it which is
27:13:00
great I encourage them but the if define
27:16:00
if a person brings me a problem like X Y
27:18:00
Z is wrong and I go yeah yeah you're
27:20:00
right you know I have a problem right
27:22:00
now so my mother has a family kids have
27:24:00
that problem wife has a problem the
27:27:00
start going through how do you solve it
27:30:00
well this and this what do you have in
27:31:00
your mind what do you think well yeah
27:33:00
maybe that'll work maybe it won't
27:34:00
engineering might be too expensive how
27:36:00
about this time at that and sometimes we
27:38:00
come up with we actually design the
27:41:00
product literally on the phone sometimes
27:43:00
I'll be I'll be if they're good at
27:45:00
sketching I'm a pretty bad sketch guy
27:48:00
but I have one guy we're unfortunately
27:50:00
we tested the product what testing
27:52:00
didn't work but it was a product for
27:56:00
having food cooked more evenly in
27:58:00
microwave and the the because a lot of
28:01:00
times is cold spots and you gotta stir
28:03:00
it you got to stop it so we came up with
28:05:00
a great solution for it I thought you
28:07:00
know he and I noodled it through and had
28:09:00
it worked it would have been a great
28:11:00
product and something probably could
28:12:00
have been passable and the but literally
28:16:00
within an hour or two on the phone
28:17:00
and I love that 10 20 30 40 guys we're
28:23:00
hooked over 5000 inventors on LinkedIn
28:25:00
and it's amazing to me how few ideas
28:28:00
they come up it's like come on guys you
28:30:00
know I have to whip them
28:32:00
you know it's like come on it's a good
28:34:00
idea I'm writing articles please send me
28:36:00
it's tough but you know let's talk about
28:38:00
these ideas most of them we blow up you
28:42:00
know right out of the water because I've
28:43:00
seen 20 other like it or I tested
28:45:00
something like it but the one unique one
28:47:00
can can be everything and we can work
28:49:00
together so I encourage people you know
28:52:00
myself or someone else that they trust
28:54:00
in the industry get on the phone with
28:56:00
them
28:56:00
don't let the don't let the idea die
28:58:00
don't let the idea die because it may
29:01:00
stick with you in your mind for a while
29:02:00
or may die but the the if you got
29:05:00
something in your heart on it give me a
29:06:00
call or send me an email and I'll ask
29:09:00
you a few questions I won't jump right
29:10:00
on the phone because time is precious
29:12:00
but the the if I like the idea I'll get
29:15:00
on the phone and see if we can come up
29:17:00
with something and just the idea alone
29:20:00
could be worth one or two points in
29:22:00
royalties which on a million units if it
29:24:00
sells could be a couple hundred thousand
29:26:00
bucks for not a whole heck of a lot and
29:29:00
no investment I really you know I
29:32:00
discourage people from making a lot of
29:34:00
investment in these things unless
29:35:00
they're just so professional don't hock
29:38:00
the house don't pour out your your
29:41:00
retirement from your kids funds you know
29:44:00
and it's not even professional advice it
29:46:00
either some of the some of the inventor
29:49:00
companies and there's a lot of good
29:50:00
companies out there but some of those
29:52:00
companies their bases their job is to
29:54:00
earn fees to help you develop product
29:57:00
and you know they have their place the
30:01:00
but their objective is a lot different
30:04:00
than mine mine is to find a product that
30:06:00
we can both cash in on I don't charge
30:08:00
anything I cover everything every
30:10:00
expense every penny top to bottom and
30:14:00
those companies they're in the business
30:15:00
of getting fee they're kind of like the
30:16:00
lawyers they all have to fry their place
30:22:00
but if you have an idea you want to see
30:26:00
is there is there really some potential
30:28:00
market so that's really the main thing
30:30:00
before you start throwing yourself your
30:32:00
life and your money into it cuz it's
30:35:00
really a long side it's a very very
30:37:00
broad funnel a product ideas to the ones
30:40:00
that actually can make money for for the
30:42:00
inventor in their family
30:46:00
what I love about you know and we sent
30:49:00
you several inventors what I love about
30:54:00
what you could do and you and your
30:56:00
partner is you're very quick though I
30:58:00
mean when you see something you know
30:59:00
you're not wasting time you know saying
31:01:00
hey I'll call you in two months I'll
31:02:00
call you in a month let me know after
31:03:00
the show or you know you're very quick
31:05:00
to either move forward not move forward
31:07:00
or what I love about what you said is
31:09:00
you know you're on the phone you're
31:11:00
you're solving it okay we need to tweak
31:12:00
it we need to do this like like you're
31:14:00
right in there you know again you're not
31:18:00
just like making the inventor do
31:19:00
everything send me a completed product
31:21:00
and then I'm gonna take it over from
31:23:00
there like like you're in the muck with
31:24:00
them teams and they're at meetings once
31:34:00
or twice a week going over products and
31:37:00
analyze and stuff like that most stuff
31:39:00
doesn't make it through because most of
31:41:00
the products that even the big companies
31:42:00
are selling they're they're getting from
31:44:00
me or a couple other companies like mine
31:46:00
you know the products come to us and
31:48:00
we're acting on them so fast we make
31:50:00
commercials for we put through a testing
31:52:00
process so the ones that were putting
31:54:00
out with a finished commercial and we
31:56:00
get it to one of the big distributors
31:57:00
it's easy for them to make the decision
31:59:00
to run it on TV and tested but if you
32:01:00
bring it to them and they first have to
32:03:00
invest time money effort engineering
32:05:00
production etc the it's that's a tougher
32:10:00
time in fact all the products that we
32:12:00
have that have been successful have been
32:14:00
- pretty much every marketer directly
32:16:00
that's not but you know it's hard for
32:20:00
them to focus on it and to see it and to
32:22:00
give the personal attention and people
32:25:00
say you know say if I see something that
32:28:00
I like most products I just pass on on
32:30:00
their face because I just have
32:32:00
experience with that type of thing or it
32:33:00
doesn't fit the model the the ones that
32:36:00
I like I'll tell the inventor usually
32:38:00
I'll run it by my chronic team hey what
32:41:00
do you think of this product you know my
32:42:00
partner you know do we like that birds
32:45:00
don't like it and he and I have a rule
32:47:00
we both have two we both have to like it
32:49:00
to put it to the next step and if we
32:52:00
both like it then we put it into a
32:53:00
little bit of due diligence and then we
32:55:00
put it into our web testing the the but
32:58:00
that's that's
32:59:00
I only took a little bit every time I
33:02:00
saw so to my chronic team well reality I
33:08:00
mean you guys have been doing this a
33:09:00
long time you don't need a team I mean
33:11:00
you already know it's not like you think
33:12:00
you know everything but you already know
33:14:00
you have good experience you have you
33:16:00
know good abilities and you know you've
33:19:00
seen so many products that you know you
33:22:00
only need your partner yeah well the
33:26:00
next step the next step of the prop if
33:28:00
we do the web test on it and the best
33:34:00
deputy go to one of our distributors and
33:37:00
we go hey these are the guys that are
33:40:00
going to be plunking down the big money
33:41:00
they're the ones that are gonna be
33:42:00
laying out millions for advertising
33:43:00
noise for inventory taking it to Walmart
33:46:00
taking it to Bed Bath you know I'm
33:47:00
putting their selves millions of dollars
33:49:00
so once we have somebody passed the web
33:52:00
test we take it to the distributor and
33:54:00
we say listen we try to like this
33:56:00
product it passed our web test here's
33:59:00
here's what we asked what we did and if
34:02:00
we were to produce commercial for this
34:04:00
would you would you be our distributor
34:07:00
for it you know would you be willing to
34:08:00
take it out to market if we make the
34:11:00
commercial and it works on TV it still
34:13:00
has to work on TV that's where the
34:14:00
rubber meets the road and as well as
34:17:00
retail where it meets the road so we
34:19:00
take it to them and and I would say one
34:23:00
out of of the ones that passed our web
34:25:00
test maybe twenty twenty-five percent of
34:26:00
those gets knocked down by the
34:27:00
distributor will they say you know we
34:30:00
tried something like that five years is
34:31:00
over this other company tried something
34:32:00
like that and sometimes we'll go back
34:34:00
and we'll investigate what was try and
34:36:00
we'll think maybe it's worth another
34:37:00
shot maybe the the offers have changed
34:40:00
maybe we can go to a higher price point
34:42:00
or a lower price point
34:43:00
maybe the technologies change so we'll
34:46:00
try and come up with some some new twist
34:48:00
to it that will be interesting to the
34:52:00
consumer and to the retailer so we've
34:55:00
got to get the we got to get the
34:56:00
distributor's buying before we go to the
34:58:00
commercial and then once we got to the
35:01:00
distributor saying yeah if you I like
35:02:00
that if you do that make a commercial
35:04:00
for it we'll test it and if it works
35:06:00
we'll take it out then we go ahead and
35:09:00
we make we make commercial for
35:11:00
so that but it's a pretty short process
35:14:00
I mean we could be going from you know
35:17:00
somebody calling me up to running our
35:19:00
web test to getting a result and getting
35:22:00
a distributor commitment 3045 days and
35:26:00
and that's faster than anyone else to
35:28:00
work there they're just still like you
35:30:00
know putting it in committee meetings at
35:31:00
that point but that's because we have
35:33:00
we're factory in and that's all natan I
35:36:00
do
35:36:00
that's the we're not doing anything else
35:38:00
we're not taking our own products to
35:40:00
market we're not you know we're not
35:42:00
trying to do really anything else
35:43:00
outside of that little that little trick
35:46:00
that we do and and we know how to do
35:48:00
that and we built up everything else
35:50:00
around us is all virtual but it takes
35:52:00
huge infrastructure millions or tens of
35:55:00
millions of dollars but it's all with
35:58:00
the specialists that know what they're
36:00:00
doing you know ultimately we go to
36:01:00
leverage Walmart that's our main goal is
36:04:00
forty Walmart is 40% of the business and
36:07:00
everything we do when we bring a product
36:10:00
in can we see this on the shelf at
36:11:00
Walmart is it the right profile you know
36:15:00
in size weight how it will appear on
36:18:00
their shelves will it meet their margin
36:20:00
requirements and that's really the end
36:22:00
thing that Walmart buyer has to be able
36:25:00
to buy at Walmart has to be efficient
36:27:00
with it so you don't get Walmart it's
36:29:00
not gonna work it's Wow yeah well again
36:33:00
that's that is what is so great about
36:35:00
what you do is that you're very quick
36:37:00
you're good at what you do you bring it
36:39:00
in other people so it's not you know I
36:41:00
know you were making the first couple
36:42:00
decisions but then you're bringing in
36:44:00
other experts in the field you're all
36:46:00
moving in tandem you're all moving
36:48:00
you're ready to go so to me I mean it's
36:51:00
it you know it's kind of a well-oiled
36:52:00
machine it just because you all know
36:53:00
what you're doing and you're all good at
36:56:00
what you do so we're you know we know
37:03:00
what to eliminate and what will fit
37:04:00
through the you know what will fit
37:06:00
through the grinder and one of the
37:07:00
things that we do and we're going out
37:09:00
and testing these things we're writing
37:10:00
actually a little script form and we're
37:12:00
sending up to eating sewing proposition
37:13:00
for the item which is you know its main
37:16:00
reason for being and once we've got that
37:20:00
unique selling proposition and we test
37:21:00
it when we do get if it does work
37:24:00
passes our testing process when we do go
37:26:00
to the commercial we have a very
37:30:00
straightforward format that we're able
37:32:00
to hand over to a producer and then the
37:34:00
producer who's an expert in capturing
37:36:00
all that on on you know film or video
37:40:00
though and making it be exciting and
37:43:00
motivating so we're we're not starting
37:46:00
from scratch so many commercials a
37:48:00
company will say okay here's the product
37:50:00
I'll hambo producer and they hit the
37:51:00
producer responsibility for doing that
37:53:00
and many of those do become successful
37:55:00
is a lot of very very very talented
37:57:00
producers in our industry a lot of great
37:59:00
people the the but they're shooting in
38:03:00
the dark you know with our with our
38:05:00
thing at least we know what's most
38:06:00
important about it and that becomes the
38:09:00
focus of the the commercial as opposed
38:12:00
to something else and it could easily
38:14:00
turn out to be something else the nail
38:16:00
clipper that opens up again encourage
38:18:00
people go see Wonder Clipper calm and
38:20:00
just take a look at the commercial there
38:22:00
in the black and white the guy with the
38:23:00
flashlight so that's me
38:25:00
so that and that becomes kind of the
38:27:00
core of everything from there but it
38:29:00
could have been a whole different
38:30:00
approach that a person would take to
38:32:00
that to that creative we had already you
38:35:00
know tested that in our genre and the we
38:39:00
saw that people did respond to that so
38:41:00
it improves the chances of success
38:43:00
commercial success when you're on TV so
38:46:00
all of these all these pieces kind of
38:48:00
fit together into a little puzzle and we
38:52:00
can see the puzzle put together when we
38:55:00
start so ultimately we see you know it's
38:59:00
a hundred piece puzzle and give it to
39:00:00
the kid the first time could take them
39:02:00
you know three or four-year-old could
39:04:00
take them half a day you know six months
39:06:00
later or three months later after dinner
39:08:00
a couple times so less we see that
39:11:00
puzzle we see that little puzzle piece
39:12:00
sitting there on a shelf and all the
39:15:00
different pieces to it and but it's all
39:17:00
it's all in a part when we first get it
39:19:00
but we just piece by piece put together
39:22:00
the puzzle
39:22:00
we're not guessing we're making educated
39:26:00
estimations trying to limit our risk
39:28:00
because we're doing that is fun puzzles
39:32:00
I always like puzzles
39:33:00
I love the analogies because you're
39:35:00
exactly right and you definitely guys
39:37:00
definitely
39:38:00
there's no doubt about it the good about
39:42:00
it is that you know you're you're doing
39:45:00
what you say you know you're you're
39:46:00
getting these products out there they're
39:48:00
working it's working and you know you're
39:50:00
not only obviously putting the products
39:53:00
out there but the inventors are are
39:54:00
seeing the fruits of their idea which is
39:57:00
really cool yeah inventors also have to
40:03:00
be patient because even though it's it's
40:06:00
we have the system a lot of it's still
40:08:00
trial and error for that particular
40:10:00
product the each of the products I
40:11:00
mentioned today we it took a few tries
40:15:00
actually Bible worked pretty much when
40:18:00
we did I guess we we know that but that
40:19:00
was just you know look at the draw but
40:22:00
the other ones we have to come back
40:23:00
different we had to make different
40:24:00
offers and different creative changes so
40:28:00
we have to go back at it several times
40:30:00
and that's one of the things that we're
40:32:00
willing to do and we encourage our our
40:35:00
distributors to work with us on if we
40:36:00
don't hit it exactly right the first
40:38:00
time you know we we look at changing
40:40:00
things everything from the stations that
40:42:00
we used to test it on to the offer to
40:45:00
the open and close and different aspects
40:49:00
of it to to see if we can get it to work
40:51:00
and each of the other so I'm
40:54:00
particularly wallet and baseboard buddy
40:56:00
and others took us it took us you know a
41:00:00
few tries to get it to work and it's
41:02:00
it's sometimes frustrating to the
41:03:00
inventor because they wanted we all want
41:05:00
it to be there like right away you know
41:06:00
yeah if it's their only product you know
41:09:00
it's like you know we got to make it
41:11:00
work this is done yet is it's not we the
41:13:00
area over there yet and and we're all
41:16:00
kind of like that but the the it takes
41:19:00
persistence and I think if someone was
41:23:00
to talk to the inventors that we work
41:25:00
with long term and produces that we work
41:27:00
with we we have very dogged persistence
41:30:00
as do most marketers in this business
41:32:00
you have to have a lot of persistence
41:34:00
and a thick skin to failure like I want
41:38:00
my daughter's an actress I watched I
41:39:00
watched the persistence that requires in
41:42:00
her audition after after audition after
41:44:00
addition but she gets part she doesn't
41:46:00
but you have to keep working at working
41:49:00
out and working at
41:50:00
long as there's daylight in that product
41:52:00
we'll we'll keep working on it we're
41:57:00
still working on some products a couple
41:59:00
of years ago that still have chances and
42:01:00
we're still trying to trying to make
42:02:00
them work maybe a change in the
42:04:00
environment that has to happen but we
42:08:00
keep we keep at it really really
42:09:00
important you can't keep up after the
42:11:00
first try very very few work on the
42:12:00
first try no no no doubt about it so all
42:16:00
right my friend we're kind of running
42:18:00
low on time on the most important thing
42:20:00
is how can our listeners get in touch
42:23:00
with you
42:24:00
the best way is through either email or
42:29:00
LinkedIn they can find me on LinkedIn
42:31:00
Bob Greenstein I think there's other Bob
42:33:00
green stones in the United States but
42:34:00
not too many and you'll probably
42:36:00
remember my face is that I've got the
42:38:00
same face up like I'm like the the and
42:42:00
and my email just is Bob at SEO TV
42:46:00
wholesale combo we use a short version a
42:49:00
SOT VW comm so Bob at a sot b w/m or on
42:55:00
linkedin and a lot of people contact us
42:58:00
through linkedin and it's great I check
43:00:00
my LinkedIn a few times a day so I
43:03:00
should be able to get back and if best
43:06:00
thing is just send me a little bit about
43:07:00
your product you know if you send me a
43:09:00
link if you have a webpage up where you
43:11:00
tell me the problem solution or even ask
43:13:00
me if that category products is of
43:15:00
interest I'll get back to you generally
43:17:00
within 24-48 hours a lot of times
43:19:00
minutes or seconds and I'll give you
43:23:00
feedback and if I'm interested if our
43:26:00
product team is interested we'll ask you
43:28:00
to send us some more information about
43:31:00
it and send it back to the product team
43:33:00
I love it well great man and also if you
43:38:00
guys are listening you're driving and
43:40:00
you couldn't write that down don't worry
43:41:00
about it you can go back to with
43:42:00
veterans launchpad we'll have that
43:44:00
information on our notes page along with
43:48:00
Bob's show here which is so awesome
43:51:00
i-ight Bob I really appreciate you
43:53:00
spending your time giving us this
43:55:00
information we feels a lot of questions
43:57:00
on ask seen on tv products we're able to
44:00:00
point them to you and now to the shows
44:03:00
which your your answer
44:04:00
a lot of questions that people have and
44:06:00
and again I really appreciate you
44:07:00
spending some time with us in our
44:09:00
listeners thank you my friend and we
44:16:00
will talk to you soon on the inventors
44:18:00
launchpad network you all take care
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