Product Trademarking and Naming

US_Patent_cover
American Invention; Bringing Innovation Back to The United States
April 4, 2018
Angela Flatland
How to Get Your Product Into Stores Like Kroger’s and Publix; Angela Flatland Discusses Working as a Non-Foods Supplier to Grocery Retailers
April 9, 2018

Jared and Karina Rabin share how they got the Hang-O-Matic into over 11,000 retail locations across North America and Worldwide. Through out their journey Jared and Karina have appeared on Bravo’s Quit Your Day Job, Steve Harvey’s Funderdome on ABC, Entrepreneur Magazine’s Elevator Pitch & MSNBC Your Business. In addition to Reality TV Jared has appeared on QVC 4 times in the UK and US.

Four short years ago they started their retail journey at the International Housewares Trade Show. Today 500,000 units have been sold since exhibiting in the Inventors Corner. Now they dedicate their time to coaching inventors/entrepreneurs how to market and sell their products to All Retailers!

www.thepitchtogetrich.com

Watch the podcast here!

 

Podcast Notes

1YouTube generated podcast notes, please excuse any typos.
so hey everybody I know that we've been
0:01
talking for a little while you've been
0:02
listening in this is Carmine disco I am
0:05
from the inventors Launchpad Network we
0:08
are here we're doing on my favorite
0:10
shows the pitch to get rich for all you
0:12
people who are product developers
0:14
inventors people are looking for
0:16
manufacturing but the trick is you've
0:18
got to get your product into retail we
0:20
have an awesome show the pitch to get
0:21
rich with Carina and Jared and they are
0:25
coming to us live from their LA studio
0:27
and glad to have them hey cringe already
0:30
over there we are here carmine hey guys
0:32
hey you mention I mentioned your studio
0:36
[Laughter]
0:42
now we have LED lighting we have two
0:45
stations set up this is like our couch
0:47
station for the more intimate type of
0:50
thing baby yeah I saw those when you
0:57
when you turn the camera on I was like
0:58
they even have pillows I mean that's
1:00
awesome I'm like it's printed and nailed
1:18
into the wall no I don't way too busy
1:22
but it's done well no I mean busy is one
1:29
thing I mean I've talked to a whole
1:31
bunch of people and you guys are all
1:33
over social media talking about things
1:35
that you got going on I mean everywhere
1:37
I go every place like page I go to I see
1:39
Corinna I see Jared on there with
1:42
different things that you've been
1:42
happening and it's pretty cool I mean
1:44
start people are really starting to talk
1:46
about the stuff you got going on I know
1:47
you're helping a lot of people too we
1:49
try it
1:50
unfortunately unfortunately we spent a
1:52
lot of time trying texting emailing
1:55
taking phone calls helping people and
1:56
you know it has its there's a lot of
1:59
beautiful things about it and then
2:01
there's a lot of things that are
2:01
irritating about it you know trying to
2:03
help people who uh we're gonna Wednesday
2:08
we're on a called Wednesday and the guy
2:11
called in
2:13
long story short been live so we put him
2:16
on speaker and he has a great eye degree
2:19
invention
2:19
he's been sung it for six years so 3,000
2:22
units and he was explaining to Corrine
2:24
and I what he did and I didn't
2:25
understand it and I'm no fool but I
2:27
didn't understand it and then he said a
2:29
key word and I'm like oh my gosh he said
2:31
it's like a mouth guard
2:33
and I said oh my god mouth guard okay
2:35
now I understand your product well he's
2:37
a dentist
2:38
uh and I said you should say it's a
2:40
mouth guard but because that made me
2:42
understand it anyways we went back forth
2:44
back forth I was talking about um you
2:47
know big silly talking about my football
2:49
career which was third string but I
2:51
thought a career you know by that
2:53
sponsor the team I never got in but I
2:55
was you know trying to be funny because
2:56
people listen to us just because we you
2:58
know we know what we're talking about
2:59
because we try to be entertaining right
3:00
so I was talking about being all awesome
3:02
you know I'll state that even third
3:04
strange still got the same ring he
3:05
didn't matter and then I asked him a
3:07
couple times what did he think about it
3:08
you know it was the end of hanging up on
3:10
what hung up cuz he said that I was too
3:14
silly
3:17
unprofessional conversation he's ever
3:19
had he had no idea what's going on and
3:23
because he didn't understand when his
3:25
product was I'm like he didn't
3:26
understand what the product was because
3:28
you didn't know you don't know how to
3:29
pitch this is what I'm trying he was
3:30
like he was like a sight I was a dentist
3:32
speaking like like this in a row no
3:36
medical term right using verbage that I
3:39
didn't know and I'm thinking what the
3:40
hell and this is mouth guard oh my god I
3:42
get it I get you have them change your
3:44
your-your-your pitch to use word mouth
3:47
guard any no it's not a mouth guard a
3:49
mouth guard is 60% less effective it
3:51
sedative s4m 440 I go but that's the
3:54
that's what that's what the white that's
3:56
what the moms whose kids play football
3:57
no one asked yes it may be a mouth guard
4:00
but you need to use that verb is better
4:02
than or you know something you know the
4:04
mouth guard times you know mouth card
4:05
evolution anyway so critics may know no
4:10
Jared was just being a little silly
4:11
because you're boring and we don't we
4:14
won't be able to listen so anyways he
4:17
needs somebody else to do the pitch is
4:19
obvious right but what the frustrating
4:22
thing about it was was this is where
4:24
it's frustrating working people as he
4:25
Dan
4:26
he didn't agree he said it's gonna do
4:29
well because it's so great and that just
4:30
world doesn't work that way quick
4:33
question for you do you think about his
4:35
third string and we were still Allstate
4:36
but I was searching am I still Allstate
4:38
certainly our state use yeah he
4:45
certainly were he was benched all the
4:48
time Jerry listen it's very stressful
4:51
it's very Carina listen is very
4:53
stressful for him to be ready to have to
4:55
go in at any moment someone could get
4:58
hurt and they call on him it's very
5:00
stressful oranges for the guys you know
5:04
[Music]
5:15
[Music]
5:18
I wasn't on the team I heard I have a
5:22
lot in common I should meet your problem
5:26
who was Allstate yet let me read you a
5:31
little part of his email when he first
5:34
reached out to me so then you can
5:35
understand because after he sent me this
5:38
picture like let me help you please let
5:41
me help you
5:41
so I I was trying to tell him about a
5:44
class I'm like this is exactly why we
5:46
created a live in-person class because
5:49
we YouTube about this we podcast about
5:53
this we blog about this and we do
5:56
Facebook climb about this you can go to
5:59
all these resources for free to learn
6:01
but you still pitch me and you haven't
6:04
learned so the best way for me to teach
6:06
you is in person
6:07
I agree you know what I mean it's just
6:11
there's no online classes that would
6:15
teach you how to pitch to a buyer you
6:18
need the practice in person in a
6:22
classroom environment I'm gonna beat you
6:25
with a stick until you pitch and
6:31
I have to understand immediately I am
6:33
NOT in the medical field and neither is
6:36
shared and neither are you
6:37
so I don't understand these medical
6:40
terms and I'm a mom so when when my son
6:43
takes football you know goes to football
6:45
and the coach says hey you need this
6:48
product I'm gonna he's not gonna say you
6:51
need this he called it the whole thing
7:00
cuz bail get there guess - ok I know
7:04
these words are like I don't even know
7:05
all you listeners we don't anyway so he
7:14
said he it's a it's a it's a he called
7:18
it a power plus mouth guards right
7:20
homeless it takes mouth guard technology
7:22
prevention to the like it does do so I
7:24
don't know why you got so upset oh okay
7:26
anyway the most starting startling
7:28
discovery came recently when studies on
7:31
performance produced a reduction in
7:34
g-force impact to the skull mitigating
7:38
the chance of a concussion 2.0 two point
7:42
twenty six percent so he developed an
7:46
appliance a mouth appliance oh no first
7:51
of that time which has been patented in
7:53
US mexico and then you started talking
7:56
with the mouth guard and i didn't
7:57
understand the appliance and that words
8:02
not good yeah well I put a blender in
8:06
your mouth you know what that would make
8:10
blood dirty mouth makes sense anyway so
8:13
yeah so he got upset with us that we you
8:18
know cute listen I'm not gonna tell
8:22
people you're right and not discuss why
8:26
why I don't agree with you do you not
8:29
I'm saying
8:30
the beauty of what Jared and I feel like
8:32
a doing is I can step away and hear you
8:36
sell and pitch and talk about it in the
8:40
matter that I'm a blonde underneath and
8:43
I should be able to understand
8:45
every lien right yeah I mean somebody
8:51
that doesn't know anything about your
8:52
product you're exactly right you can
8:54
write it in a can some good boy when he
8:55
has to talk about it yes I talked to a
8:57
third grader right right fix the pitch
9:02
to get rich website to make it clear as
9:04
to what we do that we teach and it's
9:07
also like a free platform for inventors
9:09
into a bunch of mom groups on Facebook
9:12
that are not in my industry what I do I
9:16
said hey do me a favor I need you people
9:18
to understand what it is that I do
9:19
because they don't know what I do there
9:21
they shouldn't even need to ever visit
9:23
my website but I need them to be able to
9:26
articulate to me what it is that I do to
9:30
let me know if I need to make more
9:31
changes to see things so I work you
9:35
again we got it we were lucky we're not
9:36
like you a Bed Bath beyond gave us 129
9:39
stores for a new sidekick like a
9:40
dedicated sidekick Wow and every in a
9:44
word or in every store ready but ya
9:45
can't see getting some dedicated space
9:47
to see how we do on our own hoping to do
9:49
well but it's none of work to get a
9:52
sidekick and then compliant to Bed Bath
9:54
me on specifications and then and then
9:57
communicating that to the display
9:59
company and then connecting that to the
10:00
EDI so that it could be wrongly
10:02
communicated properly track it yep three
10:05
weeks I mean that was my assistant like
10:07
um he asked me more questions and I'm
10:08
like I only know the answer at 3/4 of
10:09
them you know email them back again it's
10:11
just sorry that's why I had a half off
10:13
because there Trevor trying to get this
10:14
thing finished yeah well that's the
10:15
thing you guys know the ins and outs and
10:18
you're still learning and you're trying
10:20
to help people and these people are
10:21
acting like oh I know well how do you
10:24
know right that's where like you I don't
10:27
know there's some posted it recently
10:28
were at a similar thing with someone
10:30
it's where someone's passion overrides
10:34
the logic you know and I feel like it in
10:35
my business in our business it's a lot
10:38
until you're selling it's it's it's math
10:41
it's logic it's it's it's a plan it's
10:44
not my product is better because you
10:46
know everything is methodical and
10:48
well-thought-out and an emotion like
10:50
this guy she's talking about he was
10:52
offended because I didn't agree with the
10:56
way he felt his product should be
10:57
portrayed
10:58
the public did nothing for me it did
11:00
nothing for her and we had two boys now
11:03
now granted they'll never play football
11:04
because I don't want their heads getting
11:06
hit but but but they'll be a they're
11:09
gonna play soccer they're made baseball
11:10
so we're there
11:11
we're the customer right and I didn't I
11:13
hated his presentation yeah I guess
11:15
well that's he's got to be able to
11:17
explain it to the mass market you're
11:20
right and that's the frustrating part
11:22
for you guys cuz you're looking at him
11:24
going yeah it's not gonna work we're
11:38
gonna try to get up there and so and
11:45
then Chinese Laundry you know Chinese
11:47
Laundry it's a shoe company yeah sure
11:50
yeah I'm gonna Saturday nights when
11:52
here's one of the sidekick killed dead
12:02
bad beyond but you got a pair shoes oh
12:06
I'm glad you guys are gonna be
12:07
travelling around doing that stuff I
12:08
mean you guys are perfect for doing this
12:11
you're living what you're talking about
12:12
and you don't mind saying hey we did
12:14
this wrong but we fixed it
12:16
you know we took some lumps this is how
12:19
it's going I mean you know you're you
12:21
know like like we were talking before we
12:22
started recording you know this isn't a
12:25
theory you guys are doing it and it's a
12:27
big difference huge difference so let's
12:36
get Larry you're wonderful thank you for
12:42
joining the pitch to get rich um I'll
12:45
give you the floor take it away I know
12:48
you were excited to ask us some
12:50
questions and Jared and I are so excited
12:52
to answer them absolutely thanks guys
12:55
for having me I really appreciate it
12:56
this is a privilege and an honor you
12:58
guys are freaking fantastic and I think
13:01
everything that you guys are doing for
13:02
the inventor slash entrepreneur
13:06
community I personally think is awesome
13:09
and just a touch real quick
13:11
what you guys were just talking about
13:13
totally agree with what you guys were
13:15
saying about the whole mouth guard thing
13:16
I think one of the biggest mistakes that
13:19
a lot of people make and I'm no expert
13:20
on this because I'm still walking this
13:22
path myself but I think one of the
13:25
biggest mistakes that a lot of beginners
13:28
make and maybe even some of the vets
13:29
make is you don't cater your pitch to
13:33
accommodate the audience that you're
13:35
presenting it to it's I guess the
13:38
easiest way to put it is dummy it down
13:40
just because you're looking at it one
13:42
way doesn't mean that your audience is
13:44
going to perceive it the way you are
13:46
trying to pitch it kind of like back
13:48
when I was a network administrator I'd
13:50
walk around all the different computers
13:52
fix them might have somebody asked me
13:53
what are you doing I would have to
13:55
explain it to him in a way that they
13:57
understood other than how I would
14:00
explain it same thing when you're doing
14:02
your pitches but that's neither here nor
14:04
there so basically what I'm here today
14:06
for us to ask you guys some questions
14:07
that is kind of way above and beyond
14:11
what I ever imagined myself doing as a
14:14
product developer when I first got into
14:15
this I was on a mission to basically
14:19
create this really cool product pitch it
14:22
to a company engaged in a licensing deal
14:24
collect mailbox money call it good
14:26
well things have kind of changed and the
14:30
path has kind of shifted off to a
14:32
different direction and I've always
14:35
taken the attitude that a mind is like a
14:37
parachute it works a lot better when
14:38
it's open so I have basically developed
14:41
a product that the initial investment
14:46
and risk on the front side compared to
14:48
the potential profits and numbers on the
14:51
back side are so astonishing that you'd
14:55
be stupid not to start your own business
14:58
and go direct business-to-consumer
15:00
and establish it and then possibly you
15:04
know pitch it to retail later on down
15:06
the road after you've got a proven
15:08
market you've got your demand for the
15:09
product you've already established that
15:11
you've got sales so that's kind of the
15:13
direction that I'm going so where I'm at
15:16
is is I'm in the process of getting
15:17
ready to register my own company there's
15:20
a lot to that it's very scary I've never
15:22
done this before this is all new you
15:25
registering your own company with the
15:27
Secretary of State you've got to get
15:29
your EIN number from the IRS you've got
15:31
a trademark your business you got to
15:33
look at the possibility of copywriting
15:35
some of your products in your website
15:37
and so kind of where I'm at is what's
15:41
the easiest way to do this without
15:43
having to get an attorney involved which
15:46
quite frankly you know I'm not gonna
15:48
beat around the bush I don't have the
15:50
money for an attorney period it's just
15:53
not right now if I did have the funding
15:56
for an attorney yes by all means I would
15:59
get involved with one to make sure that
16:02
I'm being guided properly but
16:03
unfortunately I don't have that kind of
16:05
capital right now so what do you do well
16:09
so this is so the picture coverage in
16:12
Hangul Matic is my my fourth company the
16:15
first two failed and I was fifth with
16:23
Carina I had a couple things before
16:24
Korean as a kid in college I was Wonder
16:26
Woman company and I used to go do it
16:28
myself I would go to the register the
16:30
orange pen register I would do
16:32
everything myself now I go to give him a
16:36
free ad as you're talking I think we
16:37
should call them and see if those
16:38
sponsors show legalzoom.com it is so
16:42
easy to do it at legalzoom.com ya
16:46
legalzoom.com so easy and they'll do
16:50
your DBA they'll do your buy they'll do
16:54
all your setup in terms of copyrights
16:56
and trademarks um you need to you need
16:59
to calm you need to own the comm I don't
17:02
think you need a trademark or our car
17:04
cars right now yet yeah I think I think
17:06
it's not necessary I think you need to
17:07
make sure you own the dot-com your
17:09
company meaning your company name calm I
17:11
think that's way better than the dotnet
17:13
the Gov the dot there
17:18
yeah I've already checked the domain and
17:20
I verified that it is available not yet
17:24
I it my like never not everything nine
17:27
digits or lower is taken in every
17:30
combination of nine digits or lowers
17:32
taken so grab it at $6.99 right $7.99
17:34
for a year they can't start with my the
17:37
and
17:39
kink or LLC well but here's yeah but
17:45
here's the challenge that I'm having so
17:47
without giving out too much information
17:49
the name of the company that I've chosen
17:51
there happens to be a product on the
17:55
shelf that's being sold that encompasses
17:59
part of my company name so so what I
18:03
want to find out is you know if it's not
18:05
if it's not copyrighted and it's not
18:08
trademarked could I still use the name
18:10
that I've chosen for my company no why
18:14
would you want to compete with that no I
18:18
don't know where they're at but yeah you
18:20
have to compete in a they're more
18:21
successful they push it push you to
18:23
change establish their own name now
18:25
there were companies that were they were
18:28
having to change names there's this guy
18:30
I been mentoring for the last year
18:33
company name was sit sit and oh my gosh
18:39
sit in something say it was a he has a
18:43
dog hook sitting hook or sitting
18:47
something right there's a dog product
18:50
and I and I asked them you know are
18:54
there any other company names or
18:55
products names with that name and then
18:57
there was one on QVC different so his is
19:01
a dog hook the one on QVC was a dog cat
19:04
bowl for food and that line and I found
19:08
like 500 more of those names for
19:11
veterinary hospitals the groomers dog
19:16
vacation dog hotels I mean it was
19:20
oversaturated if you're gonna do if
19:22
you're gonna if you're gonna get into a
19:24
business with the name that already
19:26
exists they've already done the SEO how
19:30
are you ever gonna compete and get above
19:32
them criminal how to have a wedding
19:34
business we're trying to widen it down
19:35
now we're trying to sell it actually as
19:36
we speak and and I own the name on the
19:39
website I own the logo and we've two or
19:42
three times the last decade have sent a
19:45
cease-and-desist of people have names
19:47
like mine it's at my Happy Hooker which
19:50
is our company name and I and I was able
19:52
to shut them
19:52
down like in days so why start building
19:56
like data SEO you know content when
19:59
there's a chance that might happen I
20:01
just well not just I can help that's
20:06
where we can't hear you how that helps
20:10
let's be clear cuz I don't know if you
20:12
guys understood what I said so the name
20:15
that I have selected for my company
20:17
there isn't another company out there
20:19
similar to that it's a product that's
20:22
being sold that entails a portion of the
20:26
name that I want to use for my company
20:28
so that would what you guys just
20:30
explained to me still apply or does that
20:33
kind of change the game a little bit so
20:35
for example if I named my company nine
20:39
live nine lives dogs you know whatever
20:42
and then all of a sudden there's a leash
20:44
out there that's called nine lives leash
20:47
blah blah blah it's kind of the same
20:50
thing but it's a product versus a
20:52
company responds jarett's full name oh
21:05
my god oh my god Rabin Jared Rabin has
21:16
been in the tool industry since he was
21:18
born
21:19
yeah okay hammering nails baby now he's
21:23
trying to you know make his name known
21:27
as Hangul Matic as the pitch to get rich
21:30
as Jared Rabin inventor of right cuz
21:33
he's in stores and he invented a product
21:35
and patent and the whole night and we're
21:37
turning people to sign up for a class
21:38
and you know and I want people to know
21:39
what I've done so gives us you know
21:40
credibility anyways if you google Jer
21:43
Draven is gosh amazing musician in
21:46
Boston named Jared Rabin who started a
21:49
couple years before me fully takes up
21:51
all the first pay time he's been around
21:52
longer than me and he and he's been
21:54
doing it longer than me and and he and
21:56
we're completely different products he's
21:58
a musician lost online compared to him
22:01
he just bare any and he's he's doing
22:03
gigs like all the time
22:06
and even though he's I mean it sounds
22:07
great is this kind of like a be musician
22:09
but he was so much content that I get
22:13
lost completely to burn products imma
22:15
I'm a I'm an entrepreneur he's a
22:18
musician but I cannot compete with them
22:20
I'm not to pay which is an option pay
22:22
for SEO to da I'll place him right so
22:28
questions don't compete unless you
22:30
absolutely have to yeah don't compete
22:31
with someone's name that already a visit
22:33
of a product because they're gonna come
22:35
up before you when people look for your
22:36
name and and nobody goes in the second
22:38
page so nobody goes to Google page two
22:40
to look for me
22:40
Mayo they look Jared Rabin and for all I
22:43
know there's some like you know ha group
22:44
he's looking for me they can't find him
22:46
on page two you know that's all I
22:48
haven't got a groupies yet just saying
22:50
now they will know how to find you page
22:53
two you know even when he created his
22:58
profile he had to say JD rape I mean he
23:02
doesn't want to be JD yeah well you just
23:05
put crosshairs on your forehead bro
23:07
everybody's gonna find you know I've got
23:17
tons of that's another one this just
23:19
happens to be my favorite and the one
23:21
that I'm kind of stuck with but it makes
23:23
sense right Larry one question real
23:26
quick is um so so under your company are
23:29
you gonna sell products yes absolutely
23:35
okay so maybe Jared and Carina probably
23:37
meet the company name isn't as important
23:41
as the product name correct yes
23:44
totally agree you have no idea my
23:45
company name is hango Nona everyone set
23:47
up so right that's a good point if your
23:50
products aren't gonna cross anyone else
23:53
and doesn't hurt your company name is
23:54
yeah no the products aren't going to
23:57
cross this other company see this is the
24:00:00
challenging part that I'm dealing with
24:01:00
and I really hope that this touches some
24:04:00
of the viewers and that they really
24:05:00
understand what's going on
24:07:00
you've got categories okay but within
24:09:00
those categories you've got
24:11:00
subcategories then you have micro
24:14:00
categories my products that I'm dealing
24:16:00
with right now that I am in the process
24:18:00
of developing are
24:19:00
a micro category of a main category in a
24:22:00
very niche market that is tough to get
24:25:00
into but if it's kind of like with a lot
24:29:00
of product developers that I have talked
24:30:00
to and that I've encountered ever since
24:32:00
I started this journey they're going for
24:34:00
the 50s and the hundreds okay that's
24:37:00
fine if that's what you want to do knock
24:39:00
it out but sometimes going for the
24:40:00
nickels and dimes are gonna be a lot
24:42:00
more beneficial and a lot more
24:44:00
profitable in the long run so for
24:46:00
example I had one product that I was
24:48:00
working on requires injection molding
24:50:00
you gotta buy the tooling you know
24:52:00
there's I mean tooling alone could run
24:54:00
anywhere from ten to thirty thousand
24:56:00
dollars if not more if you don't have
24:58:00
that capital to be able to do that on
25:00:00
your own you have no other option but to
25:02:00
either try and pitch it to a company
25:04:00
secure a licensing agreement or drop it
25:06:00
with this product that I'm working on
25:08:00
right now these are all rough numbers
25:11:00
but I can send this to a manufacturer in
25:13:00
New York pay a $400 fee for a CNC
25:17:00
machine set up pay $65 for the first
25:20:00
thousand units run off of that CNC
25:22:00
machine turnaround package them into
25:24:00
quantities of three which would give me
25:27:00
about three hundred and thirty packages
25:28:00
sell them at two dollars and 99 cents
25:30:00
apiece and end up making about a
25:32:00
thousand dollars off those three hundred
25:34:00
and thirty bags in which if I deduct my
25:36:00
four hundred and sixty five dollar
25:38:00
original investment I just made myself a
25:40:00
profit of over five hundred dollars you
25:43:00
know and that if you do it like that now
25:46:00
I'm in a position to where one I'm
25:48:00
testing the market to I'm establishing
25:49:00
the product three I'm keeping my front
25:52:00
sight investment and risks low and then
25:56:00
I can make a decision as to how popular
25:58:00
is this product okay I've got a lot of
26:01:00
popularity and interest in it now I can
26:04:00
build my traction next order I can do
26:06:00
two or five thousand and keep going from
26:08:00
there but I kind of got off track but
26:10:00
yes to answer your question the products
26:12:00
aren't gonna be anything similar to this
26:15:00
other one that's out there right so
26:18:00
carmine buddy caught that yeah it
26:20:00
doesn't matter company name is known as
26:21:00
any of my company name is byproducts my
26:24:00
actual products is important not to
26:25:00
cross and I think you're right in my
26:27:00
opinion right on on on the way going to
26:29:00
market so before I did hang romatic like
26:31:00
math
26:32:00
and I buy I bought the real tooling I
26:34:00
did prototype tooling I think it was
26:36:00
good for 1,200 units right yeah and we
26:38:00
made to open units the investment was
26:41:00
25% of the total which you know I was
26:44:00
nervous throwing away 25% but at the
26:46:00
same time you know to put you know sixty
26:48:00
thousand dollars in the tooling which I
26:49:00
needed you know it was it was very risky
26:52:00
so instead we you know we put 10,000 in
26:53:00
printed 1200 units and put in a market
26:57:00
and saw how they sold before we made the
26:59:00
decision to invest you know the rest so
27:01:00
I think you're right on track that's
27:03:00
exactly how I get it and unless you're
27:05:00
flush with cash which most of us are not
27:07:00
you're doing the right thing you don't
27:08:00
put I like putting one cuz you put one
27:10:00
toe in and market the heck out of it see
27:13:00
how it sells and then it does well like
27:14:00
you just said then you you know double
27:16:00
down and you you know put tooling in and
27:18:00
yeah and you you go full-speed so I
27:20:00
think you're right on track especially
27:22:00
for regular people like um like us and
27:25:00
let me say something about you said you
27:27:00
wanna sell online and prove the market
27:29:00
and then go into retail when you sell
27:31:00
online that doesn't prove anything into
27:34:00
retail they don't care what you've sold
27:36:00
online because it's not retail right so
27:39:00
I would you reached out to me and he's
27:40:00
like but I sold $8,000 in Amazon do not
27:43:00
ever listen to my words Kyle do not ever
27:47:00
use the a word when you contact a retail
27:51:00
physical no it's the company putting
27:54:00
them out of business
27:54:00
Hangul Matt Excel but I think generally
27:59:00
online we're selling a fraction of what
28:01:00
we sell in-store my product is in store
28:03:00
you got to see the box
28:04:00
grab a box product my point is when he
28:10:00
sells 5,000 units online he can't call
28:13:00
Bed Bath & Beyond and say hey I sold
28:14:00
5,000 units on Amazon now nothing when
28:20:00
you sell something online to retail you
28:22:00
haven't really sold a thing so that's
28:24:00
what we're teaching our class because we
28:26:00
want to teach how to get into the retail
28:28:00
stores which clothes stores will take
28:31:00
you specifically that before you before
28:35:00
you sold online but I would hold back
28:37:00
some of those say some of those that
28:38:00
first run with a low margin out so hold
28:40:00
some of those back ends are sending to
28:41:00
retailers because from from the time you
28:44:00
cinnamon samples the time to getting in
28:45:00
the store could be a year
28:46:00
- right you get if you get interest by I
28:50:00
don't know who what the product is yet
28:52:00
but the Home Depot by the time you get
28:54:00
into the Home Depot you already made
28:56:00
your tool and you already made your
28:57:00
first run right
28:58:00
only now because home people usually say
29:00:00
to you all the retailer said mean when
29:02:00
can you shoot her first order and hike I
29:04:00
could have said a month three months
29:06:00
four months we just have our second
29:08:00
order into t.j.maxx Mr Mac which is I'm
29:10:00
home goods marshals no it's marmax I
29:15:00
don't think people know that that's why
29:17:00
I'm explaining what our max is more
29:19:00
teach I'm doing with the body my second
29:22:00
but TJ Max is there is their corporate
29:24:00
legal name marmax their email address is
29:27:00
CG match to the t.j.maxx buyer that's
29:29:00
the marmax I'm talking to lady in LA
29:31:00
from marmax they own all a ozone
29:33:00
companies in Canada and Europe in Europe
29:36:00
it's called liners but she said to me
29:52:00
when can you ship it and I told her 90
29:54:00
days the reason is is because I'm busy
29:56:00
right I'm a ton unit shipping out and
29:57:00
they'll wait 90 days because they're
29:59:00
planning around me and it's in this case
30:01:00
now the case is different but hold back
30:04:00
some inventory start selling to retail -
30:06:00
assuming the product is ready for retail
30:09:00
because it can take a year to get into
30:11:00
retail anyways did you agree yeah what I
30:14:00
was trying to say is because she wants
30:15:00
to prove the market online first what I
30:17:00
was saying is in our class and which
30:20:00
stores will take your product before you
30:23:00
test the market with retail right that's
30:25:00
true you don't say there are stores that
30:26:00
we know they won't ask you well how many
30:29:00
have you sold
30:30:00
in other stores they are open to you
30:32:00
taking a product regardless so you don't
30:35:00
have to only focus on online you could
30:37:00
start with these certain stores and do
30:41:00
online so when you are ready for bed
30:43:00
bath and beyond who does care how many
30:45:00
you've sold in other stores you'll be
30:48:00
able to say this is how many I've sold
30:50:00
in retail because Bed Bath & Beyond
30:51:00
doesn't want to hear what you sold
30:53:00
online or especially on Amazon now I'm
30:56:00
going to throw a loop at you and that
30:57:00
makes totally say that makes total sense
30:59:00
but now I'm gonna throw
31:00:00
you betcha so and I'm gonna put this out
31:05:00
there and maybe I'm putting the cart
31:06:00
before the horse but I'm gonna put it
31:07:00
out there anyway if at any point in time
31:10:00
in the future I can be of any assistance
31:11:00
to any of the viewers with this
31:14:00
particular portion of the market or
31:17:00
category if you will I'm happy to answer
31:19:00
questions in any way I can the products
31:22:00
that I'm developing are targeted at
31:25:00
recreational fishermen so we're going
31:28:00
into stores like or I'm looking later on
31:32:00
down the road at the possibility of like
31:34:00
your Sportsman's Warehouse your Cabela's
31:36:00
Wal Mart maybe but I would prefer to
31:39:00
target like your bass pro shops
31:43:00
we've dicks well I I'm trying to remain
31:49:00
unbiased but I have some issues with
31:52:00
dicks just in general in the sense that
31:55:00
and I'm not trying to be slanderous but
31:57:00
I was actually asked because I have a
31:59:00
big a big past and history with retail I
32:04:00
actually worked for Home Depot for five
32:06:00
years started off as a lot associate
32:09:00
pushing carts and load and cars and
32:11:00
ended my career with them as a project
32:13:00
manager in charge of six stores and I've
32:17:00
always tried to pride myself on customer
32:19:00
service and making sure that you're
32:20:00
doing what you have to do to provide for
32:23:00
your customers and I was over at Dick's
32:25:00
one day long story short manager asked
32:27:00
me how was your visit I said I didn't
32:29:00
like it he said why I said your
32:31:00
selection is nowhere close to what it
32:33:00
needs to be for the area that we're in
32:35:00
what can I do to change it I told this
32:38:00
guy five different occasions what needed
32:41:00
to be done in order to satisfy me and
32:44:00
everybody else in our area as a customer
32:45:00
not once did anything get changed that's
32:57:00
why go Dick's is because I think the
32:58:00
clothes are cool but my only thing would
33:00:00
say to get that checked in mailbox like
33:02:00
we're talking about earlier it'll be
33:03:00
bigger and their money is green right
33:07:00
and that's why I said I'm trying to be
33:09:00
non biased about the whole thing but
33:12:00
in essence you know we're looking at
33:14:00
like there's a store that we've got
33:16:00
seven of them along the west coast I'm
33:18:00
out in Oregon we've got seven of these
33:19:00
stores along the West Coast they're
33:21:00
called England marine I actually have a
33:23:00
personal contact that works at the
33:25:00
England marina in Astoria out on the
33:27:00
coast he's already told me hey you get
33:31:00
something out there you bring me some
33:32:00
I'll put them on a chip clip I'll put
33:34:00
them on a pin you know I'll see what
33:37:00
kind of interest we can get with them I
33:38:00
don't want to name any names just
33:41:00
because I don't want to hang myself but
33:44:00
there's also a local television show
33:46:00
here on our local cable company that
33:50:00
airs three days a week and it is
33:52:00
specifically a fishing hunting outdoor
33:56:00
sports show and I happen to know a
34:00:00
couple of the individuals and they said
34:02:00
hey if you ever get a product out there
34:04:00
give us a call we'll have you on the
34:06:00
show
34:06:00
you can pitch your product what was my
34:12:00
last comment is I'm not a fan Amazon
34:14:00
like I don't like so from a from a
34:17:00
person who has products online son
34:18:00
Amazon I feel like they're very anti
34:20:00
seller seller and very Pro buyer and
34:23:00
that's it's their business model so I'm
34:25:00
I don't buy anything Amazon like I just
34:27:00
don't because I we could find anywhere
34:31:00
else but Mary my point is here's my
34:34:00
point
34:34:00
I'm still I'm still starting a hanging
34:35:00
on Mac on Amazon and hang o matic still
34:37:00
be an Amazon because necessary and it's
34:43:00
it's you know my favorite retailer we
34:45:00
have like brick immortal retailer has
34:47:00
120 stores my favorite the nicest of the
34:50:00
classiest busiest communicate with but
34:53:00
they don't pay my bills right a hundred
34:55:00
twenty seven twenty stores at the end of
34:57:00
the year I mean it's good money but it's
35:00:00
not home depot at 1972 stores right it's
35:03:00
not Hobby Lobby at seven hundred you
35:05:00
stores so you know you gotta make a
35:06:00
choice are you you're not fight by
35:08:00
keeping yourself Adil's big retailers
35:10:00
they could care less right there's no
35:12:00
it's not gonna change your bottom line
35:14:00
whether or not your plugs in their store
35:15:00
or not so you're not teaching anyone a
35:17:00
lesson that managers probably working
35:19:00
now in a different stories mom beats
35:20:00
port shelley now okay so do what's best
35:22:00
for Larry right do mr. Larry don't do
35:26:00
what
35:26:00
what's best for anyone else he has a
35:31:00
boss who has a boss who has a boss who
35:33:00
has a boss he's just a guy who gets up
35:36:00
at 7 o'clock in the morning he just
35:37:00
shows up at the store right yeah
35:39:00
absolutely yeah
35:41:00
he has to answer to all the bigwigs up
35:44:00
on the top of the ladder
35:45:00
you can't change the value 5 oh I'm
35:56:00
kidding
35:58:00
[Music]
36:00:00
yeah you have to take the emotion out of
36:02:00
it whether you like we like to store or
36:04:00
not if they're gonna sign your big
36:05:00
purchase order for you
36:16:00
no I did not know that you need you know
36:20:00
whatever you're creating I've got tons
36:23:00
of stuff that I'm creating I was telling
36:25:00
carmine before we went live so this one
36:27:00
particular product that I'm talking
36:28:00
about that I've got this manufacturer in
36:30:00
New York that I'm talking to so I was
36:33:00
sitting here and I came up with this
36:34:00
product and there's one that's similar
36:36:00
on in like on the Internet but I've
36:39:00
tweaked it to where I'm hoping it's
36:41:00
enough that I can still go live with it
36:43:00
but if not I was sitting here thinking
36:45:00
to myself going okay how many other
36:48:00
things could i potentially use this for
36:51:00
if I tweaked it or added this part or
36:53:00
you know change that did this anyway
36:56:00
just the main categories themselves I've
36:58:00
got 12 categories sitting on my
37:00:00
whiteboard right now that this exact
37:02:00
same product could be applied to and so
37:05:00
I've got a buddy of mine that lives down
37:08:00
in Menifee California he's a realtor and
37:10:00
he's got some of the things that he does
37:14:00
with his real estate signs when he does
37:16:00
open houses he's kind of having some
37:19:00
challenges with because of the San
37:20:00
Bernardino winds and you know the 15
37:24:00
corridor between you know San Bernardino
37:26:00
and San Diego and all that stuff and so
37:29:00
anyway you know we were talking about
37:31:00
this product and he's all well what do
37:34:00
you think you could come up with to help
me with this okay so I sat here one day
37:38:00
came up with a product
37:40:00
I haven't developed it yet you know as
37:42:00
far as like an actual physical product
37:44:00
but within my mind and in black and
37:47:00
white on paper I have the perfect
37:49:00
product that would work for what it is
37:51:00
that he's trying to do and it could be
37:53:00
manufactured for pennies on the dollar
37:55:00
and probably sold for ten times 20 times
38:00:00
you know what it would cost to actually
38:02:00
manufacture probably a thousand of them
38:06:00
I mean it's you know crazy so that kind
38:10:00
of goes hand in hand with the comment
38:12:00
that I was making earlier about you know
38:14:00
a lot of these inventors and
38:15:00
entrepreneurs they want to go for the
38:17:00
50s and the hundreds to try and make
38:19:00
that quick buck but sometimes looking
38:21:00
outside the box and coming outside your
38:23:00
comfort zone and looking at things that
38:26:00
you may not have necessarily looked at
38:28:00
before that may only get you those
38:30:00
nickels and dimes could be your pot at
38:34:00
the end of the rainbow as you're talking
38:38:00
my crane and I so I before I met Carina
38:43:00
I had a lot of ideas I thought I didn't
38:45:00
met Carina and she quadruple them
38:47:00
between the two of us like we could come
38:50:00
up with a new business like daily and I
38:53:00
used to have to control right so I don't
39:02:00
know if this is real or not but I just
39:03:00
popped my head years - I have to like I
39:05:00
paste that demand of myself and control
39:07:00
myself
39:08:00
now at the manager - she it wasn't for
39:11:00
me we'd have eight million businesses
39:12:00
that are ten percent done right instead
39:14:00
of having three businesses that are 80%
39:17:00
done and again I don't know just to you
39:20:00
but for anyone out there I can't turn
39:22:00
off a night time I take melatonin every
39:25:00
night because I cannot turn off she does
39:27:00
I don't know she does but I digress I
39:30:00
think that you and anyone else out there
39:32:00
who has all these ideas like Carina and
39:34:00
ie do like possibly Larry something he
39:36:00
does - you need to focus on the best
39:40:00
ones
39:41:00
and not you know we only have so much
39:43:00
tension so much money so much span so
39:45:00
much time focus on the one or two that
39:48:00
are best and put all your effort into
39:49:00
those and not spread yourself too thin
39:52:00
and not again I'm not saying this is you
39:53:00
but you remind me of crane and I with
39:56:00
glasses of course exactly like us right
40:00:00
that we have so many freaking ideas mine
40:04:00
are made from coke bottles by the way
40:06:00
[Laughter]
40:11:00
with what you're talking about yeah
40:13:00
you're you're kind of right I didn't
40:15:00
mean to cut you off but you're you're
40:16:00
kind of right the the way I do things is
40:19:00
that my mind is constantly going and
40:20:00
anytime I come up with something that
40:23:00
could potentially be a good product I
40:25:00
write it down and I add it to my
40:28:00
database or my list if you will but I
40:30:00
still make sure that I maintain my focus
40:32:00
on the main product that I'm currently
40:35:00
working on because my strategy is this
40:37:00
so I've got this product that I'm
40:39:00
talking to you guys about that I could
40:41:00
have manufactured for pennies on the
40:42:00
dollar or sell for this make these
40:44:00
profits okay let's see if we can't
40:46:00
establish that once we get that
40:48:00
established take some of those profits
40:50:00
and put it into developing the next
40:53:00
product but don't stick your neck out on
40:56:00
the line don't take all of your
40:58:00
allowance and put it all into the same
41:00:00
candy bar spread it out but yes I agree
41:02:00
with what you're saying don't my wife
41:06:00
she's the same way I'm sitting in my
41:08:00
office for anywhere between four and
41:10:00
eight ten hours a day in here doing my
41:12:00
product developing I walk out the door I
41:14:00
go into the living room hey babe I came
41:16:00
up with this really cool idea and all of
41:18:00
a sudden her wheels are going I'm
41:20:00
sitting there trying to focus on what I
41:22:00
just walked away from my desk with now
41:24:00
I've got to shift gears and you know try
41:28:00
and focus on what she's telling me
41:29:00
because let's face it I don't want to
41:31:00
sleep on the couch because I'm ignoring
41:32:00
her and that never works out well not as
41:42:00
of yet I'm still in developing phases
41:45:00
you know there's and this is I don't
41:48:00
want to say it's a mistake it was a
41:49:00
learning process but one of the things
41:51:00
that I've learned is never get
41:53:00
emotionally and or
41:55:00
only attached to your products as a
41:56:00
product developer you have to know when
41:59:00
to pull the trigger and you have to know
42:00:00
when to either let go or put it off to
42:03:00
the side and come back to it later and
42:05:00
it took me a little bit longer to get to
42:08:00
that point with the product that I was
42:10:00
originally working on to get to where
42:12:00
I'm at now but I have put it off to the
42:15:00
side I have moved on it is something
42:17:00
that I am gonna come back to but you
42:20:00
know I think if I would have pulled the
42:22:00
trigger a little bit sooner and pushed
42:23:00
that product off to the side and got on
42:25:00
to what it is that I'm working on now
42:27:00
I'd be a whole heck of a lot further
42:29:00
than where I'm at you know and I
42:32:00
probably would have a physical product
42:34:00
in my hands that I can say hey check
42:37:00
this out
42:37:00
go to my website that kind of thing
42:41:00
unfortunately I didn't pull that trigger
42:44:00
and I didn't do what I should have done
42:46:00
when I should have done it so but it's a
42:48:00
work in progress oh absolutely and thank
43:06:00
you guys for having me I really
43:08:00
appreciate it for you guys out there
43:09:00
that are listening or watching you guys
43:12:00
be sure to follow these two they're
43:13:00
great they've got a lot of really
43:14:00
helpful information and just remember
43:16:00
they've already walked the path so you
43:18:00
can learn a lot from them it's real
43:20:00
simple if you continue to do the same
43:22:00
things you do every day you're going to
43:23:00
continue to have the same things you've
43:25:00
always had and unless you're willing to
43:26:00
pull the trigger and take some risks
43:29:00
you're never gonna find out what's on
43:31:00
the other side of the fence so thanks a
43:33:00
lot guys I appreciate it go to the pitch
43:45:00
sketch calm New York Chicago and Orange
43:54:00
County yeah the classes are live on
43:59:00
Eventbrite under the pitch to get rich
44:03:00
or just go to the pitch of your economy
44:04:00
yeah yeah yeah and I agree I think
44:09:00
got to keep plugging the shows you guys
44:11:00
are doing as as Jarrah was pointing out
44:13:00
that you know focusing on one product is
44:16:00
good but you still need to focus the
44:18:00
resources the right resources at the
44:21:00
right time and that's what Korea talking
44:24:00
about you know I mean you can throw
44:26:00
resource that even if you pick the right
44:27:00
product as Jared said but if you learn
44:30:00
the right process you put the right
44:32:00
resources at it you will have a much
44:34:00
greater chance of moving your product
44:36:00
into retail so that's what Jared and
44:40:00
Carina arguing with their classes so for
44:42:00
all you listeners definitely go on out
44:44:00
to the pitch get rich calm listen to
44:46:00
their shows go on on Facebook go on
44:48:00
LinkedIn follow them because it's very
44:50:00
important to not only took the right
44:52:00
resources at it but doing at the right
44:54:00
time because super important so I I
44:57:00
appreciate Larry being on I love the
45:00:00
show we are going to be posting this
45:03:00
particular show within a few days
45:06:00
I appreciate it if you can any of your
45:08:00
listeners go on out to iTunes or Google
45:10:00
Play leave us a review leave us good
45:14:00
rating if possible leave us an honest
45:15:00
review let us know how we're doing let
45:18:00
us know what you'd like to hear which
45:19:00
you like about the show what what could
45:23:00
be done better certainly leave on any
45:25:00
remarks or any questions on out to pitch
45:27:00
to get rich calm follow Corina on
45:29:00
Facebook sundered as a message if you
45:30:00
have a question and I appreciate being
45:32:00
on the show today everyone take care and
45:34:00
we'll see you next time on a pitch to
45:36:00
get rich please