The Licensing Jungle Secrets with Guide Jeffrey Mangus

Inventors Launchpad
Begin your Invention Journey with the End in Mind.
July 27, 2017
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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
2:13anything
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
20:01innovation
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
27:03beforehand
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
27:42apart
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
28:56right
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
29:55effort
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
42:19there
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
48:32overcome
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 gmail.com 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 usa.com 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