The Licensing Jungle Secrets with Guide Jeffrey Mangus

Inventors Launchpad
Begin your Invention Journey with the End in Mind.
July 27, 2017
Are You Looking for an International Investor, Advisor, Coach or Consultant, Mr. Baldo Minaudo is your Guy.
August 2, 2017


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Podcast Notes

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0:00hi everyone and welcome to the licensing
0:03jungle boy I love that song
0:06I have jeffrey mangas with me today my
0:08co-host unlicensed jungle every time I
0:10hear the beginning of the show it just
0:12gets me psyched up for another episode
0:14of learning about the licensing industry
0:19and how much there is to know and that's
0:22what's so great about having the show
0:23and co-hosting with Jeffrey Jeffrey is a
0:25expert on licensing he's a coach he
0:29teaches people how to get through the
0:31jungle as we say of license hey Jeffrey
0:34out there I'm here thanks carmine how
0:36are you today I'm doing good my man it's
0:39so great to be on the show we're just
0:40going to be talking about different
0:41things and talking about trials and
0:43tribulations and talking about the show
0:45I mean you I know we usually have guests
0:46on but it's so nice to be us to be able
0:48to talk about what's happening with the
0:51show and kind of what we have planned
0:53for the show future and I know we've
0:56been getting some great feedback we've
0:57been getting some questions and kind of
1:00just get started in that way I wanted to
1:02start off really quick and commend you I
1:04don't know how great of a job I feel
1:06you're doing out there talking to people
1:08and help me feel I'm getting some
1:09unbelievable feedback on how you are
1:13helping people license their product not
1:15just licensure but learn the lace in
1:17your industry and I was kind of glad
1:20when you just want to do a show and talk
1:21about what we're doing to help inventors
1:25and product developers I wanted to step
1:27back a little bit and get a little bit
1:29information get a little background let
1:31the listeners hear a little bit about
1:32who you are and and how you got into
1:34this craziness yeah thank you so much
1:37and yeah I agree with you carmine this
1:39is you know this platform really it's
1:42it's exciting to be a part of because I
1:45do believe in licensing I believe in
1:47innovation and I believe in truly
1:48helping people that's that's the number
1:51one of my of my company that that's no
1:55one rule that I follow and but yeah you
1:58know I started Manning back in 2005 with
2:01one of my first products it was a
2:02medical product I work in courts and
2:04cardiovascular surgery and you know
2:06that's when the inventor bug really kind
2:09of hit and I'm I was at I didn't know
2:12anything about inventing I didn't know
2:13writing patents or anything I was going
2:16by the seat of my pants learning
2:18everything I could possibly learn from
2:19books and and I did fairly well I wrote
2:22my first original patent application all
2:24by myself filed it got it filed started
2:26contacting companies and has still had
2:28no clue what I was doing but I still was
2:30able to reach out and and contact eight
2:32major medical corporations who were
2:34interested in my product did and but
2:37then it took a long time and then you
2:38know finally has success with that
2:41got it licensed and moving on down the
2:43line so really excited about it but what
2:46you know about licensing and my company
2:50the the one thing that I'm seeing and
2:53you're right I appreciate your your
2:54positive you know words and con words
2:59because I'm really really feel like I'm
3:02making a difference now I feel like that
3:04people understand that that I'm a guy
3:06that I'm your coach yes but at the end
3:10of the program I'm still your coach I'm
3:12going to be your coach I'm going to be
3:13your friend I'm going to be there for
3:15you that's important in today's world
3:17you know to have someone who you can
3:20call who's going to be there answer
3:22questions because you're going to have
3:24questions and that's why the inventors
3:26under you know what I want them to
3:28understand it throughout this jungle as
3:30we call it because it is there you're
3:32going to you're going to get confused
3:34you're going to get you know you're get
3:35yourself like in a bond you know you and
3:38you need help and and I'm the kind of
3:40guy that I'm always there for my
3:42students and for adventures as well so
3:44yeah yeah and that's what we've been
3:45hearing and again going back to you you
3:47I know that previously before this
3:49dislike of Licensing and things in that
3:52sense I know some of your hobbies you
3:55were you're actually in a band right I
3:57was in a professional band rock band yes
3:59I was and I actually was in Los Angeles
4:01I toured the country and played all over
4:04the United States and signed to a small
4:07record label we end up going to Los
4:08Angeles California I was in Hollywood
4:10for five years playing Sunset Strip yes
4:13I was and I still play my guitar every
4:17single day if you look around behind my
4:19room here you PI see guitars laying
4:20around that's that's just that's just me
4:22and that's what I do
4:23awesome well you know what's good about
4:25what you talking about
4:27a band or product development inventing
4:30I think that being patient and trying
4:33and working really hard especially in a
4:35band kind of equates to licensing I mean
4:37it's not easy to be in a band and trying
4:39to make it as a rock group or whatever
4:43type of group and the same thing with
4:44the licensing side you really it's kind
4:46of a strategy right it is a strategy and
4:49you're right I never realized so you
4:51just said it how much it does interplay
4:53with each other you know being in a rock
4:54band it nothing happened overnight you
4:56know we toured the country for years it
4:59we built traction we were patient we
5:02were diligent we worked hard and we
5:04stayed stayed off drugs and worked hard
5:08and and then you know when we were in
5:10Los Angeles we were there for five years
5:12five years playing on Sunset Strip
5:15slugging it out and yes we didn't make
5:18the major label deal but you know what
5:20it was an experience of a lifetime and
5:22it taught me a lot of things about
5:24myself you know how yes and that's
5:26exactly how licensing is it is not a
5:29get-rich-quick thing it's just not but
5:32it is a great life you can work from
5:35anywhere in the world do anything you
5:37want to do and but the key word there's
5:40work work hard okay it doesn't it
5:44doesn't come easy and it's not going to
5:45happen tomorrow okay so again I'm not
5:48trying to be a negative person just like
5:50you understand I'm trying to be real and
5:51try to let people know once you're in
5:53the journey it's going to be a journey
5:55for you but once you get to the end it's
5:57beautiful it's great you know and plus
5:59you're helping someone by bringing a
6:01product to the world that's that's it
6:03even better no I agree and you know what
6:05they say a day of work at something you
6:09love not really work I mean you're not
6:10really working hard but you do if you're
6:12doing what you love and you really love
6:14developing products taking crocks to
6:16market doing that yeah it's it's a
6:18challenge which we all love but if you
6:22have the right information if you have
6:23the right plan the right strategy and
6:25that kind of what you do right you I
6:27mean you lay out that plan you lay out
6:29that strategy for the people who really
6:31want to do the right thing that's
6:33correct you know my program I developed
6:36it and to and I mean I'm always tweaking
6:39on my program make
6:40you know refining it because it is a
6:43true process my coaching program is not
6:46just you know hello we talk for an hour
6:49it is truly in depth and it's intense
6:52and my students will verify that you
6:54know that that when we when we get into
6:56it at the end of these session I have
6:58students tell me wow I can't believe
7:00that you just put all that information
7:02in my head but it gets them on track it
7:04keeps them on track and that's the
7:06difference because yeah learning the
7:07process is so crucial to your business I
7:10mean whether we do you hire a coach or
7:12get a book or read a book or read ten
7:14books it's important to study and learn
7:17what you where you want to go you're not
7:19going to do it just by you know spraying
7:21and praying and putting it out there and
7:23hoping someone's going to look at your
7:24product it's not going to happen that
7:26way yeah and the great part about is
7:30what we do we both agree on education
7:34knowledge experience and the more that
7:36people have the better for us you know
7:39better for you better for me on my end
7:41inventors Launchpad we go more of the
7:44product development manufacturing design
7:46work packaging you know we we we
7:48concentrate more on the actual product
7:51which was what I love about joining up
7:53with you Jeffries because you are
7:55helping people who can't do that or
7:57don't want to do that it's it's just
7:59really a it's a choice kind of thing and
8:01so what I love about business is the
8:04strategy is the planning whether we're
8:06making products or we're going and
8:08trying to license you still have to have
8:10a plan you have to have to lay out that
8:12strategy and that's kind of what I love
8:13about joining up with you and and doing
8:16this podcast is because no matter what
8:19the choice is no matter the direction
8:20you just can't fly by the seat of your
8:23pants pride this doesn't work it never
8:25works and and unfortunately that's
8:27that's the reality of it you know you
8:29have to have a plan I mean and we were
8:31talking a couple to a couple guests or
8:33even Eric Huber on the last podcast he
8:36talked about writing a business plan
8:37talked about writing a plan for your
8:39ideas for your businesses and I know
8:41that's a step that most inventors don't
8:44even realize they should take but it is
8:46a business and that's what I do coach
8:47and tell students and tell inventors
8:50treat yourself as a business and you
8:52will move
8:54you know faster and farther than just
8:56you know going about seating your pants
8:58it's not going to happen that way um
9:00having a plan having a direction having
9:03someone that's going to be there to
9:04guide you through it so it absolutely is
9:07crucial you know I'm all about doing
9:10this yourself and I did a couple videos
9:12today on Facebook about doing this
9:14yourself and saving money and not
9:16spending thousands of dollars on doing
9:18things having other people do things for
9:19you and you because you can do it
9:22yourself but at the end of the day
9:24though you're going to end up having a
9:26team of people that you trust that you
9:28work with because you never actually
9:29going to do it yourself it's going to
9:31take a few people that it's going to
9:33guide you through the process yeah yeah
9:35nothing nothing great was really ever
9:38accomplished by a single person right
9:40yeah charted it might have been that
9:43that catalyst but you have to have a
9:46team around you you have a team that
9:48early agree and that's what again what
9:50you do what quick question on some of
9:53the clients that you had and I know
9:55you've been doing this a little for a
9:57little while now when when a licensing
10:00client comes to you what kind of phase
10:02are they and where they usually in the
10:04development phase or the product phase
10:06is there like a something that you've
10:09noticed that it's like a trend that they
10:11come to you at a certain point in the
10:12idea phase or development is a great
10:15question and to answer that question yes
10:18what I've noticed most of the students
10:20and most of the inventors that I talk to
10:21them that I interview a lot of inventors
10:23now and talk to them and yes most of
10:26them have an idea that they are trying
10:29to want usually one it's usually one
10:32idea and that's great you have one idea
10:35I'm always a firmly where there's two
10:37ways you can go about it having one
10:39great good well-developed idea and
10:41contact as many companies as you
10:42possibly can contact or having many
10:45great good well-developed ideas and
10:47contact as many companies you can
10:48contact it still is that's the two ways
10:50to do it but the phase of a CES usually
10:53one idea and also see unfortunately the
10:56majority of them have spent ten to
10:58fifteen thousand dollars on patents on
11:00getting fully functional prototypes but
11:03they haven't done one thing they don't
11:05know their market they
11:07know if there is a market and they're
11:09trying to find a market and that is a
11:13bad place to be you know to spend that
11:15kind of money
11:16and find yourself swimming in the ocean
11:18that you you're looking you feel like
11:20you're drowning and that you know that's
11:23just not where I want to be and that's
11:24why I want to help people you know get
11:26out of that but that's the phase I see
11:28usually one idea I don't really see
11:32people with a lot more than one or two
11:34ideas you know and I now I have a couple
11:37students that well you know one one
11:39gentleman he's got ten ideas you know
11:41sometimes I've got to rein them in a
11:42little bit you know and have them focus
11:44yeah that's the face I see usually
11:46someone's spent quite a bit of money
11:48honestly by the time they talk to me and
11:50they usually got one idea they really
11:52don't know their market they don't know
11:53where to go with it that's what I see a
11:55lot Wow I mean you just hit on such and
11:58the way you explained it it is important
12:01because you hit on such a key part if
12:04you don't know who your customer is
12:06going to be you really need to back up
12:09and I'm sure you teach that is I do is
12:11you need to know and you could call it a
12:14niche you can call it a target market
12:15you can call your call it your perfect
12:18customer or perfect client but you need
12:20to know who you're selling to you can't
12:22you can't sell and you probably hear
12:24this a lot so for you who's your
12:25customer and they say everyone guess
12:28everyone and when you hear that you know
12:30you got your work cut out for you right
12:31I do and you know sometimes that in here
12:36at the launch pad we get people who say
12:37I just I don't know who my client is or
12:39or or I can't narrow it down and then we
12:42go through this through the steps of
12:43narrowing it down I know you had the
12:45same process because if you it's not all
12:47saying if you try to talk to everyone no
12:49one listens so you need to be able to
12:52talk to that that niche market and when
12:54we say ditch market it could be hundreds
12:55of people could be hundreds of millions
12:57of people it could start off with that
12:59niche market and and I would agree with
13:01you really need to to narrow down and
13:03wheel down who you want to sell to
13:05because it's just too expensive laughter
13:07everyone I mean there's so many
13:08companies out there when you're probably
13:10directing your clients to start
13:12contacting companies after you after you
13:15get down to that niche is probably still
13:17hundreds of to choose from right yeah
13:19usually in once I once I get
13:21someone and they get under my under my
13:23program you know we really we really go
13:25to work and we really knit and you're
13:27right we chip away at it we really chip
13:29away and we find the market and I help
13:31them do that
13:32you know I help them if they say hey
13:34I've got my products in the camping
13:36industry then I go well
13:38the camping industry is pretty huge is
13:40your product intense is it in you know
13:43you to utensils is it in fire what if we
13:46narrow down into we focus in find that
13:49key you know consumer database or
13:52companies that are going to be able to
13:54help that person and that's the thing
13:59learning where who you're going to yes
14:01you know company is built upon not
14:04knowing who they are marketing to I mean
14:08I don't care who it is sony Sony built a
14:11company knowing they were going to build
14:12electronics for you know certain thing
14:14no one
14:15there's no no one's going to be able to
14:18do that you know not that and have a
14:20market or not have it not know their
14:22market it's just not going to happen so
14:24that's the first thing I coach and what
14:27I teach inventors and when I talk to
14:28them we do they hire me or not I tell
14:30them research the marketplace
14:32I mean seriously learn to research it no
14:34don't scam over it don't just glean over
14:36things dig in dig in digging deep it's
14:40worth the effort to do it yourself and
14:42then know your plant you know I spoke to
14:44an inventor yesterday who who said you
14:47know I I don't know if my idea is good
14:48or not I'm like well I appreciate your
14:50honesty because you know I will help you
14:53find out and she asked me that one
14:55question carmine and I don't mean to
14:56talk a lot but what I'm saying she asked
14:58me a question do you assess my ideas
15:01will you help me assess that and yes I
15:03do but it's not my job to - it's not
15:07it's not my place to judge your product
15:10okay and I want the inventors to know
15:12that my job is to help you find out
15:14whether your product has got a market
15:16for it or not and that's my job because
15:18you know if at the end of the day
15:19there's not a market for your product
15:21you're going to think up another product
15:22you know and I teach you how to do that
15:24as well so it's a beautiful day yeah
15:27well you know being honest with the
15:29client about that because we get the
15:31same question here is they want you know
15:33whether I like the
15:35product or I don't like the product as
15:37you said Jeffrey it's really irrelevant
15:39it is irrelevant right I may not be your
15:43target client for that product so I
15:45might say hey I love the design I love
15:48the way it's put together I love the
15:50color but that isn't a reason to go
15:53ahead and move on or not with your
15:55product I mean as we joke about all the
15:57time I would have kicked the chia pet
15:58out of my office you're s exactly right
16:01you would have kicked him right out to
16:02talk to me and ask me you know do you
16:05like this I would have said what the
16:07heck are you doing but look we did so
16:09assessing as you teach as you train
16:12people assessing who that target market
16:14is and then going and getting feedback
16:15from that target market except direct
16:18group oil that I'm glad you said that
16:20because I get a lot of inventors I talk
16:22to they say well you know Uncle Joe said
16:24it was great and says I have a you know
16:26my granny says hey this is an awesome
16:29product but you know nothing against
16:30granny your Uncle Joe but though their
16:32their knowledge of the marketplace is
16:34probably pretty slim compared to what
16:36the real market is going to tell you so
16:38you know that's that's one thing
16:40inventors do they say I've got a great
16:42product everybody says everybody says
16:44they would love it and buy it well their
16:47opinions are important yes but the only
16:50really opinion matters is potential
16:51licensees who actually when you get it
16:53in front of them and that's those are
16:55the pinions that really matter people
16:57that are going to take money out of
16:58their pocket and buy your product right
17:00that's an opinion that's the fat fenya
17:03that matters right hey question was
17:05before you know you
17:05I mean brings up a good point if I
17:08approach the company with the product
17:10that I wanted a license and I gave them
17:12data hey I did the market back and I
17:15looked in and I found that this is Mike
17:16this is who I'm going after does that
17:17company usually do their own what I
17:21found out I was yes they do and but and
17:23that's what I do coach is you know part
17:26of the packages that I help inventors
17:28put together is you know answering
17:30questions that are that are potential of
17:32potential licensees going already going
17:33to ask and I feel like a professional
17:35inventor is going because studying the
17:38marketplace that's going to give you
17:39data it's going to give you information
17:41that you will compile and you will use
17:44that information to put yourself in the
17:46best light reduce the risk
17:48and show a potential licensee hey you
17:51know this is a homework that I've done
17:52on my product this is what I know about
17:54my product in the market and and yes
17:57they're going to do their own due
17:58diligence any companies will do that
17:59their teams are going to do that they're
18:01not one individual in a company's going
18:03to work by themselves there's a team
18:05involved no one's going to make a
18:06decision by themselves and they will do
18:08the due diligence but if you show as an
18:11inventor hey I've done a lot of work
18:13here and let me help you with these
18:15questions answering these questions then
18:17it's going to help them make a decision
18:19quicker and then plus but you as in a
18:22professional light which they will
18:24always work with a professional and not
18:25an amateur did I see what you're saying
18:29and yeah you're telling them hey I'm
18:31here to work I you don't want them to do
18:33all the work correct you're helping them
18:35and you're putting yourself when I say
18:37reduce risk as you know bringing a
18:39product to market is there's a lot of
18:41risk involved again that's why we going
18:44back to studying and have a company's
18:48not going to do anything without knowing
18:49their market so when they bring a
18:51product to market there they already
18:53know that yes we have a database of
18:56consumers but they don't know how
18:58product's going to do for example who
19:00would have thought the pet rock would
19:01have sold millions right honestly
19:03someone would have walked in the office
19:04with a pet rock it you know like a chia
19:07pet what got kicked out the door right
19:09but it's but it did so but so company
19:13really never knows how products want to
19:14do so it's risk but when you as an
19:17inventor come to them with a product
19:19that's well defined you know really
19:22niche down you know a professional
19:24presentation and you know by answering a
19:27ton of questions that they're already
19:28going to be asking and you know and
19:31helping them understand your product it
19:33puts you in the best light and reduces
19:35risk it makes them a little less nervous
19:38yeah which is important to get a company
19:41to really want to spend some time you
19:43know on your project they probably get
19:45approached with a lot of products a lot
19:47of these bigger companies is our does it
19:49seem like they're more open to outside
19:51innovation or our similar companies just
19:53like note we have an in-house and we
19:55don't know how to talk to you or is it
19:57seem like it's opening up now to
19:58external innovation I see open
20:02is running rampant you know I think
20:05bigger companies even bigger companies
20:07yes I mean they've created online
20:09portals or online submission portals now
20:12where they can inventors can submit
20:15their ideas and so yeah you know yes
20:18there are still some dinosaurs out there
20:20you know hey yeah they're stuck with
20:21their Rd of course these are the bigger
20:23you know corporations but even those
20:25companies you know if you bring a few do
20:27a well well presented idea and you walk
20:30in you get through the right channels
20:32and that's learning how to do that
20:33learning how to contact the key people
20:35and presenting yourself as a
20:36professional you can get through the
20:38doors you know not saying it's easy
20:40that's that's the thing you know it's
20:42yes a harder idea or more complicated
20:44idea is going to be harder to license
20:46you know the simple ones are easier to
20:48do you know yes but but yeah I think
20:51open innovation I think honestly I think
20:53the percentage is really high now that
20:55companies are open to it and good
20:57learning about it because they hey they
20:59can employ hundreds of thousands of
21:01inventors and find great ideas because
21:03the consumer monster is the insatiable
21:07when it comes to products products are
21:10always needed so they need us inventors
21:12and I want to tell everyone out there
21:13they need you they need us yeah no no in
21:17internal they spend a lot of money I
21:19mean I knew a example of that HP who
21:22told me that their R&D department say
21:24and I'm just going to make the number
21:25was like fifty million dollars and they
21:28expected to develop say five products a
21:30year so that's 50 million dollars and
21:32they expected that one product out of
21:34the five or whatever that one product
21:37would make money and maybe one or two of
21:39them would break even they would spend
21:41all of that money just maybe maybe one
21:45product that would be amazing
21:47they can't so yeah I think that they're
21:50there and saying hey bring us some
21:51products because it's you know the
21:53external people the inventors are doing
21:56all the work form well absolutely and
21:58that's what I was talking about the
21:59online submission forms these companies
22:01have learned hey they can get a large
22:03influx of ideas coming to them and yes
22:06there I'm sure they have a team of
22:07people evaluating those ideas a lot of
22:11inventors get nervous about those
22:12submission portals I want to bring this
22:14up because of non-disclosure agreement
22:16and those kind of things but my rule of
22:19thumb one that is read the fine print in
22:22these things read the online submission
22:24there's guidelines most of these
22:26websites have guidelines don't
22:28again don't scam over its get you to
22:30glean over it read through it okay
22:32because you want to make sure it's going
22:34to be on the up-and-up
22:35chances are it is but I still encourage
22:37you to do that but as far as worrying
22:39about a nondisclosure agreement um I
22:41always encourage inventors to go ahead
22:43and submit rely on your patent pending
22:45protection rely on what you've done and
22:47then in non-disclosures can be discussed
22:50later on if there's interest yeah and
22:53that's a poop man you really opened a
22:55can of worms with anytime I any kind of
22:57IT I mean IP protection you must hear a
23:00lot about that when you first bring a
23:03client on and I know you walk clients
23:05through each of these steps and pair
23:07them with all right language and things
23:08like that what about the intellectual
23:11property stuff do you go through that or
23:13you kind of pass that over to some some
23:15some IP attorneys that you know no
23:18honestly I go through that as you know
23:20it gets pretty in-depth okay because I
23:22go in I definitely focus in on the
23:24provisional patent application and the
23:26there are formalities I mean there's a
23:28there's a myth that oh well provisional
23:31patent applications can be written they
23:32can be written by anybody but there's
23:34still a formal way to do them to do them
23:36correctly and because again you want to
23:39set yourself up you know to have the
23:41best protection and I do go through that
23:43in my program with inventors you know
23:46but as far as patents and yes we study
23:49about patents and you know basically the
23:52basic nuts and bolts of patents but
23:53presenting really true questions I do
23:55have attorneys that have that I can
23:57point to you know from from product code
24:00USA there was really true questions but
24:02my program does talk a lot about
24:04protecting themselves absolutely you
24:07know what it's probably one of the major
24:09questions that you run into one of the
24:11first questions always seems like yeah
24:13and it's important because there's a lot
24:15of misunderstood information out there
24:16and people can use that a lot of that
24:19money a Pat a full patent application
24:20cost a lot of money and they can utilize
24:22that money I think for for something
24:25better as long as there's a way to
24:27protect themselves you know that's the
24:29thing that I teach is my program is
24:33about bootstrapping ideas because we
24:35talked about it earlier on in this
24:36podcast that inventors you know some
24:40have one idea some have two some have
24:42ten but that's the name of the game is
24:45having more ideas that you know that you
24:47want to keep it keep it flowing
24:48but bootstrap because think about it if
24:50you were to spend thousands of dollars
24:52on every single idea you'd go broke you
24:54would absolutely go broke and your
24:56family would be you know be hurt but my
24:58program is about bootstrapping your
25:00ideas and keeping it under one to two
25:02hundred dollars per idea and I'll talk
25:04about protecting your idea I'm talking
25:06about developing a sell sheet a video
25:08sell sheet or a video or animation and
25:11putting it all together for less than
25:13$200 and it is amazing but it is the
25:18truth and because I'm all about you know
25:21helping inventors save money because
25:22well I spend five thousand on a utility
25:24patent on a product that you don't have
25:26any knowledge of there's a market yet I
25:28still don't understand that I don't
25:31understand that concept why put yourself
25:33in jeopardy and I know that's the old
25:35way unless most of the old inventors do
25:37it you have done it that way and there's
25:39and not again not knocking or talking
25:41bad about anyone I'm just saying that
25:43there's a new way to do it and that is
25:45provisional patent application
25:47sixty-five dollars you can file
25:49protection and write it the right way
25:52learn the formalities of it and then
25:54rely on that protection and you got 12
25:56solid months of pitching your product
26:00and now that's the other thing I do is I
26:03saved inventors I call it a provisional
26:05patent track let me explain what that is
26:07report a lot of people get to the step
26:10of filing their patent that's the first
26:12thing people will do is protect
26:13themselves and I encourage that but then
26:16they filed a provisional patent
26:17application and then they start working
26:19on their product then they start doing
26:20their by the time it's six months in or
26:22seven months in next thing you know they
26:24only got a short amount of time to try
26:26to see what where their product is and
26:28then they run out of time now you can
26:31file again but you lose your initial day
26:34you just start with a new date you know
26:35that's the only catch but that's the
26:38trap I actually teach inventors to avoid
26:42that trap I get them ready to go
26:43ready for the dance then they fall and
26:45then they're ready to go now that right
26:48there is worth this podcast I mean if
26:50Yuri have somebody listening to the show
26:52that's just about to file their
26:54provisional patent application like
26:56you're saying wait until I mean they
26:58could basically file it the day before
27:00they're going to go contact a company
27:01there's no reason to file it way
27:04no as a matter fact I have ones I had
27:07one student he waited to the very minute
27:10he was ready to pitch I mean literally
27:12down to the men he was like okay I'm
27:14filing it now that I'm gonna start I'm
27:15like great and that's because he wanted
27:17to get his full 12 months and again
27:20without if he wouldn't contacted me he
27:21might have not had that you know my
27:24opportunities I really I'm not saying I
27:26did it but I mean I really helped you
27:28know and it's no good that's amazing
27:30because you know that that minute could
27:32matter I mean from the history books I
27:35think that the telephone was basically
27:37two patents for the telephone to filed
27:39on the same day it's roughly ten minutes
27:42wow that's amazing especially some crazy
27:46amount of time like that so people to
27:48people were working on the same idea and
27:50only a few minutes separated who was
27:53going to get that pattern right right
27:55you pled fine I'm sorry you find
27:57yourself getting ideas that are that are
27:59closer or almost similar I you know I do
28:03and honestly that's that's the what
28:05that's why I encouraged students to
28:07start by studying the marketplace
28:09because then I get this question what if
28:12I find something like my idea it you
28:15know what I say I say you need to smile
28:17you need to congratulate yourself and
28:19they go why and I'll say I say because
28:22you have found there is a market for an
28:24idea that you have okay so now go back
28:27to the drawing board go to work make it
28:29better make it put more value to it and
28:31then you know you know there's a market
28:34so you know that lava vendors they hit
28:36that road that clock and ago there's a
28:38product doctor like mine and they quit
28:40no don't quit develop more work go to go
28:44back to drawing more work harder do you
28:45develop it make it better you can you
28:47can do it yeah I agree
28:49i 1% I agree I mean it was if there's no
28:52market or there's no product like yours
28:55out there that that could be a red flag
28:57when I hear that when I hear someone say
28:59there's not a there's nothing out there
29:00like it on the market that's immediately
29:03just as a coach now I'm not even a
29:05company that's going to license your
29:07idea when I hear that I immediately know
29:09two things two things that some research
29:13hasn't been done right
29:15and then also that they they are new and
29:19they're novice and and that's not it
29:20there's nothing wrong with that but
29:22that's the two things that I understand
29:23are asked about when I hear that hey
29:25there's nothing out there like it okay
29:27just trust me guys there's probably is
29:29something out there like it you know and
29:32if you have something that there isn't
29:34anything out there like it there's
29:35probably a reason there's two reasons
29:37why there's got to be some reasons why
29:38you know maybe there's not a market for
29:40it or maybe there's not the problems not
29:42big enough right there's things like
29:44that yeah yeah well that's a good part
29:47as you said research doesn't cost you
29:50anything doesn't cost anything
29:51absolutely doesn't cost you a single
29:53thing but Tom and it's truly worth the
29:56it truly is I remember speaking with one
29:57of our guests on the lysine jungle one
30:00of our guests on one of the previous
30:01shows and basically the who is saying
30:03that he hires outside help to do the
30:06research because he knows that if he
30:08does the research he's going to be
30:10skewed he could he loves his ideas so he
30:12has somebody else and he actually paid
30:14them extra if they find something is
30:16remember that that is great yes and that
30:18was absolutely one some of the best
30:20advice ever and you know honestly I
30:22don't I haven't really done that but but
30:25my wife is really great at I have an
30:28idea and she immediately grabs a phone
30:30she knows the deal and she grabs a phone
30:33and she starts looking and she'll say I
30:35found something I'm like great you did
30:37you know um so I mean she it's really
30:40great then you know building prototypes
30:42I mean we have prototype date nights and
30:44this guy thing but it's really cool but
30:48yes he hires out so he takes out the
30:51variable you know because it what we're
30:53talking about here is a lot of inventors
30:55get married to their ideas they love
30:58their ideas I'm the same way I love my
30:59ideas but as a professional and that's
31:02what my coaching is all about is
31:04teaching you how to discern your ideas
31:06to find your ideas and find out there's
31:08a market for because if there's not a
31:09market for your idea you
31:11even set it off to the side and create
31:12another idea you don't want to spend
31:14years tinkering on an idea that's not
31:16going to go anywhere and that's that's
31:18the thing you know so yeah he took out
31:20the variable hired some other people
31:22some fresh eyes to look at things and I
31:24think that's a very smart thing to do oh
31:25yeah no I totally agree i 100% because
31:28again you can't make the problem it has
31:32to really be a problem or and you have
31:34to have the solution but you can't make
31:36the problem and sometimes invent the
31:39problem not that it's an issue not that
31:40there's anything wrong with that but it
31:42may only be affecting them or a very
31:43small lot of people and what you call
31:46you you know you have to be a very large
31:49need in the marketplace for because it's
31:52a long road I mean you know this is is
31:54there a timeframe from like when
31:55somebody comes to you says hey I had
31:57this idea and you bring them to the
31:58coaching and you help them is there some
32:01products that get picked up quick or
32:03there a certain you know is a certain
32:05amount of time frame that you see
32:06happening well honestly yeah from you
32:09know about time I grab a student you
32:11know even if they complete the course
32:13you know because my course right now is
32:15I think we I have a 16 week program a 12
32:18week and a cheating we program I've
32:20narrowed it down so they're not into it
32:21for months but what I see is after the
32:24course you know usually six seven months
32:26you know and that's you know I know that
32:29may not cycle long you know not it was
32:30not a real long time but honestly it's
32:32really not it goes by really quick you
32:34know and that's when they start getting
32:36traction when they start getting you
32:38know feedback I had a student here
32:40recently just had a large meeting with a
32:41large corporation he was nervous but it
32:45took it's taking him almost two years
32:47okay to get to this point and but he has
32:52stuck in there he's hung in there and
32:54he's kept driving kept believing he
32:56hired me and he and honestly I'm not
32:59Tooting my own horn I'm not doing that
33:01but you know when I he has told me Jeff
33:03when he got with me he realized that the
33:06things he did wrong and then up to this
33:08point now he's on track and within the
33:10time frame he's still my student within
33:12the time frame he's been with me he he
33:14acquired these meetings and I got this
33:16so it does make a difference in having
33:20someone and learning the processes and
33:21and but again the the timeframe
33:24you never know it could be six seven
33:26months a year you know two years I mean
33:29look at this guy two years he's been
33:30into this and now he's finally getting
33:32somewhere so but it's gonna be worth the
33:35journey for you know because he met with
33:37a huge corporation okay so good stuff
33:40that must be nerve-racking though to go
33:42in and we've done presentations on
33:44products to pretty large expirations
33:46passed over me you know wondering you
33:49know and going up there and flying up to
33:52talk to them it's it's a lot and the
33:54great part is is that you're you're kind
33:56of you know walking them through the
33:58steps but it's still as you said it's
34:00there they're going to do it and you
34:01know unless they're going to hire
34:02somebody do it but no one cares about
34:03the product more than they do now do you
34:07teach them or do you help them with the
34:09presentation and s we're going to talk
34:11about everything you just said I help
34:13them with everything presentation I give
34:15them because I've been there I have
34:17actually done it I have walked into a
34:19room more than once with executives and
34:22committees and yes it's done it and so I
34:26that experiences is you know I'm turning
34:29in to help my students and yes I got
34:30their presentations I fine-tuned their
34:33marketing materials as that's why the
34:35coaches for you know to to not just you
34:38know say oh that's great and send you
34:40down the road it my goal is for you to
34:43be successful okay and I'm going to do
34:46everything in my power for that to
34:48happen under my tutelage okay I take
34:50pride in that right so yes I do help
34:53them with all their marketing materials
34:54fine tuning him creating their sell
34:57sheets creating their benefits in really
34:59you know niching down you know really
35:02having it fine-tuned to where you know a
35:04presentation has three or four you know
35:06things in it that are key crucial
35:08elements to that presentation and yes
35:11you know he my student for example he'd
35:13message me hey you know how should I you
35:16know how how should I even dress you
35:19know what do you dress for success okay
35:22don't go in you know I know that sounds
35:24kind of cliche but it's absolutely the
35:26truth go in with a suit tie sharp no
35:29matter if they're wearing jockey shorts
35:31and crawl crocks it doesn't matter you
35:34dress for success you show up with the
35:36game plan that you're going to sell your
35:39to those to the that company and you
35:42know it trust me it's better to look
35:44look great and sound great have yourself
35:46ready then to go in half-cocked it's
35:48just not going to work you know 100
35:49percent no 1r percent you know if you
35:52want to match the dress code of the
35:54people are going to be in that room or
35:56exceed it you can never be overdressed
35:59what you're doing that I totally agree
36:01one of that's right
36:03we did real quick you mentioned cell
36:06sheet several times and and and I'm on
36:10my side the manufacturing and things
36:11like that and we go to retail and things
36:13would sell sheets different what are the
36:15most important things on associate when
36:17you're trying to license up there is
36:19there specific things you want to hit
36:21yes actually there's five five major
36:23points you want to hit on a sale sheet
36:25number one of course you know a great
36:26title of your product you know you know
36:28name your product where it's going to
36:30going to be a little more you know more
36:32memorable whatever you know and then you
36:34want to have a key sentence or a basic
36:37description of your product you know
36:39that's pretty much you know that tells
36:41what it does but then you want to create
36:43what I call a one-line benefit statement
36:45this is the main benefit that it the
36:50main thing that your product does is
36:51going to benefit someone how it's going
36:53to help someone okay you want to create
36:55that you want that to be bold you want
36:57it to be bright you want to be at the
36:59top of your page and then you want a
37:00great money shot you want a great image
37:03of your product whether it's your cut
37:04your weed at your concept prototype way
37:06that your looks like prototype or if
37:08you've got something done with 3d CAD or
37:10you rendered something you've hired a
37:12freelancer to do that
37:13I don't know care how you do it as long
37:15as you show your great image of your
37:18product it's got to really going to
37:19really be great and then you want to key
37:22in on all of the other benefits that
37:25you're that your product provides okay I
37:28mean you can and I can tell students to
37:30mind map these things okay you really I
37:33do it I tell them to sit down and get a
37:35notebook pad out whatever they want to
37:37do and think of every single benefit
37:39they can think of not features not
37:42functions benefits how is it going to
37:44help someone okay there's a big
37:47difference I see it all the time
37:48students will send me sell sheets and
37:49they'll go it'll have a benefit then
37:51they'll say well this has a
37:53you know a dial here or whatever the
37:55dowel doesn't matter the consumer
37:57doesn't care about the dollar Sumer
37:58cares about how it's going to help them
38:00so but then those benefits list those
38:04benefits on your cell sheet and then
38:06number this is so important your contact
38:10information put it on there right I see
38:13it all the time
38:14cell sheets with no no name no contact
38:16information no number no email no way to
38:19get ahold of the guy right so it's very
38:21important I know it sounds a
38:22kindergarteners but it's absolutely fine
38:24and then make sure you put patent
38:26pending status on a cell sheet make sure
38:28they understand it but not don't put it
38:30out like a blazing red neon sign put a
38:32nice little thing on there that's patent
38:34pending and that way they could be they
38:36can see those are the main ingredients
38:38of a sales sheet wow it sounds so cut
38:40and dry I mean like real quickly they're
38:42going to look at this product are going
38:43to be interested or they're not and you
38:44can move on it sounds like a you're
38:47you're helping them they're saying oh
38:48you're not feeling I don't have to read
38:49a three-page letter about your product
38:51that's exactly right desert because
38:53number one they're not they do not have
38:55time they're very busy they don't have
38:57time to look at three four you know
39:00sheets of a sell sheet I had one student
39:02he had it seven or eight sheets on sale
39:04sheet and we defined that down into one
39:06okay and he didn't he could believe it
39:09could be done but it was done and so
39:12they don't have time you got to be
39:13respectful their time plus they've got
39:14to get it instantly it's your billboard
39:16it's your 70 mile per hour billboard
39:18that they have to get and the one other
39:20in key ingredient that you didn't I
39:22forgot to mention was an embedded video
39:25Lake it's crucial to have a if you don't
39:29have a video for your product I
39:31encourage you to get a video because in
39:33today's world social media the way
39:35companies are seeing things now video or
39:38a video animation of your product 30 60
39:4090 seconds is absolutely almost a
39:43mandatory thing yeah that I definitely
39:47agree with we have our department are
39:49constantly making videos animations for
39:51products even even we send them to our
39:53factories it's so much easier to
39:56describe how the product should look or
39:58work just doing a quick animation or
40:00absolutely if that's even that yeah
40:02absolutely that's that's almost critical
40:04to especially go in the manufacturer
40:05like that
40:06yeah yeah I mean every time you give us
40:09some information like 10 questions pop
40:12into my head or so and I know it on too
40:14much time but you know when we'll do
40:15this we'll do this this back and forth
40:18several times just absolutely we will
40:20yeah how important and and I know that a
40:23lot of inventors even myself we get
40:25emotionally attached to our product you
40:27know you probably do it and it's good to
40:29have somebody like you or we take that
40:32emotion out because we just want the
40:34prize to be successful and how important
40:38is the actual name of the product do you
40:40think or does the company that license
40:42it are they going to change the name
40:44where they change it around are they
40:46update it is theum is the name really
40:48really important I think the name is
40:51important to a certain level it's I
40:53think the name is important enough to
40:55grab their attention most of most of the
40:58time the name is going to be changed
41:01that's correct so that's why you know I
41:03wouldn't spend a whole lot of time
41:04trademarking or spending money on a
41:06trademark of a name because ultimately I
41:09mean you can do that I'm not not
41:11discouraging a trademark if you really
41:12believe in the name of your idea but a
41:14company might see two to four marketing
41:17aspects knowing their consumer database
41:19they're going to change a name to make
41:21it more marketable yeah but I would
41:24definitely encourage to name your
41:26product enough that's going to draw a
41:28draw attention to that product yeah I
41:30could see getting some pushback on that
41:32from the inventors you know they love
41:33the name where they love whatever aspect
41:36of it and you know you're like listen
41:38when you like to that product and heat
41:40well you're right you know you brought
41:42up something no can't worms I'm sure I
41:44never run out of time
41:45but I get this all the time there you
41:47know a lot of vendors say I want control
41:48I won't control my product I want to I
41:50want to I want to be able to say it
41:52looks like this at the end of the day
41:53now at the end of the day in a license
41:56agreement you can have some control you
41:59can but as he is at the really end of
42:03the day the company's going to make it
42:04its core is going to cost be cost
42:06effective and they're going to make it
42:08to where it's going to be able to be
42:10marketable and it's going to work
42:11exactly the way it should be done and
42:13your that's why having a fully
42:15functioning prototype it's not the smart
42:17route to go because it's going to change
42:20to add change you know alter things to
42:22make it make it work and that's why you
42:25know a vendor say I won't control how it
42:27looks well you can you can't have some
42:29say begin today the company's gonna make
42:30it the way it's going to be yeah if
42:33you're going to did the company is going
42:34to pay me they can make it look however
42:35they want that's what I tell inventors
42:38and I might tell I don't you know you
42:40shouldn't care if it has purple polka
42:42dots in this pan who cares as long as
42:44you're getting a royalty check in the
42:46mail that's that's what you should cure
42:47yeah because the company wants to sell
42:49it they're going to here they do we're
42:50not going to make some cheap junky
42:52product right you're doing a market
42:54research and they're going to spend a
42:55hundred thousand dollars on market
42:57research and they say hey you mount what
42:58you want this blue but we found out
43:00women for you 262 buy it they want a
43:03pink with polka dots and they're
43:05spending that marketing money I mean who
43:06are we to know that's exactly right as
43:09I'm that's what I say let them sell it
43:11painting with pink and purple polka dots
43:13who cares either as long as long as my
43:16family's taken care of and I'm able to
43:17do the live the life that I want by
43:20collecting royalties and seeing my
43:22product on the market that's great
43:23that's that's what you know I totally
43:25agree and and you know you you want the
43:27product to be quality probably you'd
43:30sure bird anybody you want to be able to
43:32say hey that's my product you want to be
43:34proud of it and I can understand that
43:36but that control issue and it's just
43:39because we're mostly in tester ideas I
43:41mean you know I'm with you too I'm
43:43currently going through a multi-billion
43:45dollar company licensing a product
43:47that's in the baby food industry and
43:49I've met with companies several times
43:51and they've made some changes I'm like
43:53hey listen this is your industry I mean
43:56I just came up with the idea they know
43:57they have and we oh it's funny as they
44:00come to me with the data they say this
44:02is why we're doing this and and how am I
44:04going to question that yeah how can you
44:06question it and why would you question
44:07that hey it's great that's good good for
44:11you because ya know I'm right with you
44:14now so and I know that the great part
44:16about it is and the feedback I've gotten
44:18from from you some of your students and
44:20some of the questions and things because
44:22that is the way that you lay it out the
44:24way that you lay your coaching out it
44:25seems like it's done kind of like what
44:29we do here at the roadmap it's done for
44:30a reason in the interval that it's done
44:32like the timing
44:34of it you know you this the next step
44:36and you're telling the people what's
44:37what's coming down the road but don't
44:39worry about that yet
44:40let's course on this particular piece
44:43and that I think it doesn't overwhelm
44:45them well that's you know you're right
44:47and I'm glad you brought that up because
44:48you know like I say we talk you asked me
44:50a question earlier about what where do I
44:52see students coming in or inventors
44:53what's that what you know what phase are
44:55they in what I do with students was they
44:58come to me at certain levels of
45:00knowledge and certain levels of phase in
45:03their business but yes I have a have a
45:06system in place so they get to they get
45:08I have it's a 12 step system okay
45:11I've developed it and each module each
45:14step is is there's a reason for it okay
45:17the reason is so they can learn the
45:18process the whole so they can do it on
45:20their further on their own forever
45:22that's the goal so they don't need a
45:24coach forever okay that's the goal but
45:27but no matter where they are with me I
45:29take their we're we're you know level
45:32they are and then yes I get them through
45:34the process but I still am respectful of
45:36where they are and what they what they
45:38want to do I don't just use cookie
45:40cutter you know and say here it is here
45:42it is here it is I take where they are
45:43and then also assess their goals what do
45:46you want to do what's your goal what's
45:47your focus do you want to license or you
45:49eventually want to manufacture it what
45:51is your goal you know and then I then we
45:53then we go from there so no and I think
45:55that you know you and myself on rnd that
45:58people feel more comfortable or their
46:00clients feel more comfortable because
46:01they know what they got to work on and
46:04why it's very important as you do to
46:06tell to talk to people and give them the
46:08information tell them why we're doing
46:10something yeah you know I didn't
46:13interrupt you um but you're right there
46:16the biggest thing if you were my student
46:18sitting or any my students listening
46:19this podcast they would tell you
46:21whenever I tell them something I always
46:23go and here's the why okay I always tell
46:27them the why there's always a reason why
46:29we're doing this okay and I tell them it
46:31may not make sense right now it may but
46:33later on I promise you it will make
46:35sense because you're it's going to you
46:38know keep you on that track that you
46:40need to be on the right the right track
46:42and I always tell this is the why this
46:44is why we're doing exactly it's really
46:47and because you know again Billy is
46:48because of the industry hey let's let's
46:51face it you and I are we're in a tough
46:53industry there's a there's a lot of
46:54smoke and mirrors out there there's a
46:56lot of people out there that are doing
46:57the right thing you're one of the good
46:59guys in the industry and you're are
47:00running into some clients that may have
47:02been not only I want I don't want to say
47:05taken or fooled or tricked but you know
47:07they spent a lot of money and maybe
47:08haven't gotten anything but whilst you
47:10are explaining why you're doing things
47:12it really you probably don't get too
47:15much pushback I also don't get any
47:17pushback because they number one they've
47:21hired me as their coach and they and
47:23there's a mutual respect that has to be
47:25and they respect what I'm giving them
47:28and I respect them as well okay there's
47:30a it's a it's a trusted situation
47:33completely trusting and that I trust
47:35them and they trust me and I don't get
47:37any any pushback now I will I will have
47:39a student ask me question like why are
47:41we doing this and I love questions
47:43because that's that's what we're here
47:44that's what I'm here for
47:45they answer questions and so I answer
47:48those questions and I tell them then
47:49they always go ah now I get it now I
47:52understand okay so and I love that I
47:55love that they do understand um but
47:58they're yeah there's there's so many
48:00things out there so many obstacles so
48:02many people I get I hear it all the time
48:04how inventors have lost thousands of
48:08dollars to mention submission companies
48:09I have been on a kind of a rampage here
48:12past couple days about it because I get
48:14so infuriated to hear you know people
48:17losing fifteen thousand twenty thousand
48:18dollars on down the line from the to
48:21these companies that don't do anything
48:22for them and they don't have anything to
48:24show for it and they've lost their hope
48:25they've lost their their direction they
48:28don't trust anyone anymore and it's a
48:30really huge obstacle that I have to
48:32just like you I mean we're both two
48:35great people in the industry it's a
48:37tough industry of being you know and
48:39that that's what I want to do I want to
48:41make a difference I know you do I want I
48:42knew carmine
48:43you wanna make a difference your company
48:45must make a difference in helping people
48:46and that's that's the key that is the
48:49key yeah I appreciate and you are I got
48:52to tell you Jeffrey just you you are
48:53making a difference just by the feedback
48:55just by the people that you hire just by
48:57good things that you've done and you are
48:59making a difference and it's
49:01even if it's a little little bit at a
49:03time and you can help one person at a
49:05time it's it's very important and I know
49:08that you're doing that and we're a
49:09little bit out of time I did want to ask
49:11you one question before before we jumped
49:13off is there um you mentioned doing
49:16research and we mentioned searching for
49:19products and what's out there is there
49:21anything specific or any kind of
49:22software or any kind of search engines
49:24that you would recommend I mean is it or
49:25just go ahead out there and and and and
49:28Google I guess well I was want to say I
49:31actually coach students to start with
49:33Google start there and you know and then
49:36go from not just Google in but didn't
49:38you go to Google you can go to Google
49:40patents and search a lot of patents
49:42through there it has a beautiful
49:43interface it's very clean it's very not
49:45confusing now the USPTO course we know
49:48is a beautiful great website there's a
49:50lot of information there that the vendor
49:51can can kind of get confused as to where
49:53they are but Google patents is a great
49:56place to start study patents study the
49:58formats of patents and then then also in
50:01study products you know look at what's
50:03out there what's what's been created and
50:05then then Google Images is a great place
50:07to start as well to find products you
50:10know in a broad sense you know to start
50:12there that's what I that's the starting
50:15point that's just the scratch of the
50:16surface type of thing yeah that's but
50:18yeah Boogle is a great great search
50:20engine to start with okay good yeah and
50:21I just wanted to see if there was some
50:23secret you know product sites that you
50:27could look in but I can see Google I
50:28mean Google covers everything especially
50:29good and Pat Google patents I agree with
50:32you I have used it and it's really
50:34explanted and when you do use it if
50:36you're a new inventor you don't be
50:39overwhelmed because there's a lot of
50:40stuff I don't think people realize how
50:42many patents are out there I don't know
50:44and depending on the market to I mean I
50:47get all the time and I'll go through
50:49with a student and I will type in a
50:50keyword and then there's you know a
50:52million results or you know ten thousand
50:55results it's like they go do I have to
50:56look at every one of them well no but I
50:59encourage you to look at a lot of them
51:01yeah yeah and I think it's cool because
51:03you could get some ideas I mean I know
51:04when I would revolve in products for
51:06clients i I like some ins route some of
51:10the some of the patents and you know
51:11there's been some smart people over the
51:14history of
51:14the patent industry and they said some
51:16pretty cool stuff I just love history
51:18and I love looking at products that have
51:20been you know made prior to even our
51:23century I mean there's stuff out there
51:26that's been out there for so long I know
51:27I'm the same way I love history I love
51:29looking it you know not just products
51:32but everything but you're right patents
51:34are very fascinating there's a lot of
51:35intelligent people and that's what I
51:37encourage students to study patents
51:39study how they're written look at how
51:42they've made these products how think
51:44about how these invent how these other
51:45inventors use their mind to create these
51:48products it's a great way to develop
51:50your own mind your own creativity and
51:52also help you with direction on things
51:54you know you know how a gear is going to
51:57you how fit or how a dial or whatever it
51:59is it's going to help you in your
52:00business yeah and you have to be able to
52:03talk about your invention how it works
52:06the material how it operates really if
52:10you're in a big meeting and they ask you
52:12hey what kind of material I made out of
52:14polypropylene or not abs and if they say
52:17why didn't do that you really need to
52:19tell and talk about why you did that me
52:23because abs doesn't shrink as much
52:24they're molding or or probably propylene
52:27has a little bit more of a flexibility
52:28you need to be able to answer that
52:30question and you know to to these to
52:33these people in those meeting right that
52:35is absolutely correct you just said the
52:37two things you just said most people
52:38don't know about that
52:39they just don't and you're right you
52:41need that's why I encourage students
52:43when you're researching the market it
52:45goes in-depth you need to study
52:47materials how how products are made if
52:50you find products that are similar to
52:51your product look at the packaging look
52:54at the shelf space is your your product
52:56big and is it going to try to fit into a
52:58small show these are all crucial aspects
53:01of researching the market it's so baby
53:03there's so much and that's what's great
53:04about this and we're going to continue
53:05these talks we've hit so much stuff but
53:08we just scratched the surface just
53:10scratching the surface we tell industry
53:12and licensing and product development we
53:13really have and that's what's great
53:15about the licensing jungle is that we're
53:17going to bring people on we're going to
53:19talk amongst ourselves and we're going
53:20to answer questions that people send in
53:22to you people sent to me the licensing
53:25jungle podcast I think it's going to be
53:26great we're going to really be able to
53:28expand on this
53:28shows so much yeah I'm really excited
53:31for how this is going to go and we you
53:34know I love working with you because
53:35we're on the same page as far as
53:37providing real true knowledge and value
53:40here it's important every what we do
53:43it's just so love what we do I love I
53:45love innovation so great now real quick
53:49and we usually say this I mean how can
53:51people get in touch with you other than
53:52the show how could people get in touch
53:54with you real quick I know you're on
53:55Facebook Linkedin produções USA but
53:58what's the best way well the best way if
54:00they really want to reach out to me they
54:01can email me anytime at products coach
54:04USA at and I answer all emails
54:07personally there you know and I will get
54:09to you for some question you have or if
54:11you're interested in the programs of
54:13coaching you can visit my website at
54:15product coach and there's a lot
54:18of information there it tells a whole
54:20lot about what I do there's a lot of
54:22information for inventors on licensing
54:25they can browse through there they can
54:27there's podcasts about the links to
54:29podcasts beyond the web on the website
54:31now and also there's webinars that I've
54:34done in the past hey you know it's all
54:37out there so we love to get you get you
54:39in and get you involved that's great
54:40there's a lot of information out there
54:41so I totally agree if you want to you
54:44can check out our show notes on
54:45inventors launchpad comm we have all the
54:47information the videos we have iTunes
54:50Google Play go ahead and listen
54:53inventors Launchpad Network listen to
54:55the other shows the past shows there's
54:57information out there on just about
54:59every subject I mean on the invention
55:01process to go ahead out there so this is
55:04Carmine the disco my co-host Jeffery
55:07mangas for the licensing jungle I
55:10appreciate you spending your time with
55:11us today we know you have a choice and
55:13we appreciate that you choose to listen
55:15to our show until the next time we're
55:18signing off and you have a great rest of
55:21your day