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THE
ONLINE INVENTOR -- January 2007 issue
(c)
2007 Market Launchers, Inc.
http://www.marketlaunchers.com
Editor:
Paul Niemann
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Dear
Inventor –
Happy
New Year! We start off with our first issue of 2007, an interview with
successful inventor and MarketLaunchers.com customer Frank West. Here are this
issues articles ...
Article # 1:
“Successful Inventor Frank West Launches his Target Base ™
Product” by Paul Niemann of MarketLaunchers.com
Article # 2:
“Top 10 Mistakes Inventors Make”
Article # 3:
“Attend the right trade show to license your invention” by
Paul Niemann
Article # 4: “50% of Something is Better than 100% of Nothing” by Paul Niemann of MarketLaunchers.com
Best
Regards,
Paul
Niemann
http://www.MarketLaunchers.com
800-337-5758
217-224-8194
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“Successful
Inventor Frank West Launches his Target Base ™
Product”
Paul
Niemann of MarketLaunchers.com
Below
is an interview with successful inventor Frank West of
TELL
US ABOUT YOUR PRODUCT, THE TARGET BASE ™.
They're
multi-functional. Target Base is the latest safety sports product for baseball
and softball. These bases (3 to a set -- 1st, 2nd and 3rd base) help reduce the
risk of injury, and they also teach proper base running techniques, too. The
bases are uniquely designed with a bright orange corner, thus the
"Target," where you would hit the inside corner when rounding the
bases for a shorter distance to the next base. Visibility is also an added
enhancement to this product; not only does the batter see it but the fielders
do, too. The rest of the bases are comprised of a softer material to reduce
the risk of injury upon impact. Great for training and ready for game use.
There’s even a youth size. The bases are strap-downs or post-mounted.
I’ve
played baseball and softball my entire life and have seen a lot of base sliding
injuries over the years. Then in 1997, while playing in a tournament in my home
state of
SO
YOU WERE TRYING TO SOLVE A PROBLEM WHEN YOU INVENTED TARGET
BASE ™. HOW DID YOU COME DEVELOP
THE PRODUCT AND COME UP WITH A NAME AND SLOGAN FOR IT?
After
borrowing a set of bases, I thought what if we utilized the inside corners for
the strength points and soften the other portion for reducing the risk of
injury. So after on-line researches of all bases from t-ball to the Major
Leagues, there were none, then as I watched some Little Leaguers play, I
thought, "How about the colorization on the inside corners," to teach
proper base rounding techniques.
Thus
a Patent search was underway. After a lengthy Patent Pending status, I was
finally awarded my official Patent in 2001. Returning from my attorney’s
office, I came up with the slogan; "Target Base, Safety is our 1st, 2nd,
and 3rd Priority." Now the real work begins. Unable to get a trade
show booth at the Super Show in
While
browsing the book store, I came across the INVENTOR'S DIGEST Magazine, which I
purchased and decided to pursue a web sight in which I contacted you with
MarketLaunchers.com to set me up with the web site. This was a valuable tool in
getting my product out. I began sending 1,000’s of E-mails to manufacturers,
magazines, sport medicine companies, baseball / softball training camps and
schools, coaches and anyone related to the sport itself.
Then I started getting positive feedback from schools, training camps and companies that wanted more information. And yes even a few orders. Now I used these return e-mails as ammunition to even further my pursuit to find a manufacturing company.
DID
YOU FIND IT HELPFUL TO ATTEND ANY TRADE SHOWS OR READ ANY TRADE MAGAZINES THAT
SERVE YOUR INDUSTRY?
We
attended the Super Show in
Ran
into Mr. Herb Markwort of MARKWORT SPORTING GOODS COMPANY out of St. Louis, MO.
We spoke briefly. To make a long story short, after several e-mails back and
forth with Mr. Markwort's associates, we signed a non-disclosure and sent the
sample to be produced from their manufacturing facilities. We jointly agreed on
a 6-year royalty agreement with Target Base and the MARKWORT SPORTING GOODS
COMPANY in April of 2006.
Having
INVENTOR'S DIGEST was helpful, too.
WHAT
ROLE DID HAVING YOUR OWN WEB PAGE PLAY? HOW DID YOU USE YOUR WEB PAGE TO PROMOTE
THE TARGET BASE ™ ?
That
was an intricate role because on my business card, it has the web address and I
steered people to the web site. I walked people through the web page.
WHAT
WAS THE MOST IMPORTANT THING YOU DID?
Through
the website, I generated interested and used return e-mails (feedback) as ammo
for manufacturers. So I showed them that I had interest and orders (before I had
it manufactured); all I needed was somebody to license it (which included having
them make it and bring it to market).
DO
YOU HAVE ANY ADVICE FOR OTHER INVENTORS OUT THERE?
PERSISTENCE!
You might have to call the same company over a 3- or 4-year period, because
there may be a different product manager. I called Mr. Markwort, who I met
at a trade show, 3 times before I got a “Yes.” Every 6 months I
kept in touch.
DID
YOU FACE MUCH RESISTANCE ALONG THE WAY? WHAT ABOUT REFECTION – HOW DID YOU
HANDLE THAT?
Yes,
from several of the big name manufacturers. I went for the big names at first,
then thought that maybe the smaller or medium sized companies would have more of
an interest. Bigger companies are harder to approach.
HOW
MUCH OF THE PACKAGING AND MANUFACTURING DID YOU DO YOURSELF?
None
– Markwort does it all. I won’t know the sales figures until the end of
the month, but we did sell out (12 sets) at the National Coaches Association
meeting in
Visit
http://www.markwort.com/model_view.asp?model=10035
to see the Target Base ™
It’s
Markwort’s 75th year. They’ve been great to deal with.
Frank
can be reached at Fwest0@comcast.net
#
# #
Paul
Niemann runs MarketLaunchers.com, building web pages for inventors. Having your
own web page allows you to show your invention to companies when you’re unable
to present it to them in person. It can serve as your “online brochure.”
Plus, it can be seen by companies who search MarketLaunchers.com's
invention database for new products.
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“Top
10 Mistakes Inventors Make”
by
Larry Udell
Larry
Udell gave me his list of top mistakes that inventors make when I heard him
speak at the Mississippi Inventors Conference several years ago. The idea,
obviously, is to avoid making these mistakes …
1.
Fall in love with your “brainchild,” which makes it difficult to use
good judgment decisions and hesitant in it ever leaving home.
2.
Listen and believe too strongly in the encouragement or discouragement of
those around you, including family and friends.
3.
Not conduct enough market research. Walking through a store and looking
for similar products is not market research.
4.
5.
Not recognizing the value of a patent and attempting to market or sell a
new product without the benefits of intellectual property.
6.
Having too big an ego to admit your own weaknesses, and bringing in the
strength and experience of others.
7.
Sending money to invention promotion firms that promise you the world,
because you created the greatest idea since sliced bread.
8.
Believing that your idea of invention cannot be improved upon by someone
else.
9.
Convincing relatives and others to invest money in your idea before you
know you need it, or are in a legal position to accept it.
10.
Did not know how to properly price it for sale, by ignoring all the costs
of proper packaging an distribution.
#
# #
Larry
Udell is Executive Director of the
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“Attend
the right trade show to license your invention”
by
Paul Niemann
Regular
readers of this newsletter know that I am sold on attending trade shows when
you’re in the process of launching a new product. There are several main
benefits of attending trade shows in your industry, which I learned again
first-hand when I attended a trade show last week for one of my products, which
I managed to find a distributor for.
After
speaking with Frank West a couple weeks ago and hearing him explain how he met
his future licensee by attending a trade show, I thought this would be a good
time to talk about trade shows again.
Attending
at a trade show gives you at least 3 main benefits:
1.
It allows you to meet with representatives from many companies at once,
rather than flying all over the country otherwise. Plus, you will learn of many
companies worth visiting who you may never have heard of before. For example, if
you’re trying to get an automotive product on the market, the convention
wisdom would be to stop by the booths of the main automakers. But you would also
want to visit with some of the many suppliers to the auto industry who sell to
the big companies – and they’re much easier to work with than the big ones.
2.
Attending a trade show also allows you to see what some of your
competition is doing when you visit their booths.
3.
Attending a trade show allows you to learn much more about your industry.
At last week’s show, I talked with booth vendors who have been in the industry
for a long time, and this was helpful because my product is in an industry in
which I have never worked.
In
short, I have benefited from almost every trade show that I’ve ever attended.
And I usually do NOT rent a booth, which is usually very expensive. In fact,
sometimes it’s better to NOT rent booth space, especially if you go to the
trade show alone.
Here’s
why: If you rent booth space, it means that you’re tied to your booth most of
the time. If you’re alone and you leave to explore the other booths, then your
booth would remain unstaffed and, as a result, unvisited.
On
the other hand, if you don’t rent booth space, you’re able to wander the
exhibit hall to meet with prospects and to see what others in your industry are
selling.
Earlier
I mentioned that I managed to find a distributor for my product. How? I showed a
sample of my product to people at a number of booths (while having proper IP
protection, of course), and I received very favorable comments from the majority
of them. But it was a man who owned his own company – who also did not have a
booth there – who I met in the hallway outside the exhibit hall.
I
guess the moral of this story is that sometimes it’s better to be lucky than
good. I’ve found that the more people I talk with, the luckier I get.
There’s no guarantee that my new partner will be able to bring in a lot of
sales of my product, but we’re off to a good start.
And
it would never have happened if not for the industry trade show.
#
# #
Paul
Niemann runs MarketLaunchers.com, building web pages for inventors. Having your
own web page allows you to show your invention to companies when you’re unable
to present it to them in person, serving as your own “online brochure.”
Plus, there are companies who search the MarketLaunchers.com Invention Database
for new products. Visit http://www.marketlaunchers.com/forms.html
for details and pricing.
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“50% of Something is Better
than 100% of Nothing”
by Paul Niemann of MarketLaunchers.com
One of the questions I get asked
often is, “Do you know of anybody who can “take my invention and get it on
the market for me?” My usual answer is, “The best person to market your
invention is probably YOU.”
There are exceptions; for
example, in certain industries reps are the only ones who have access to
manufacturers. I’ve heard this is the case in the toy industry. I know the
automotive industry is very hard to break into as well.
Another exception would be where
there are reps who focus on specific industries, such as the book publishing
industry. Books are repped to the big publishing houses by reps they are
familiar with.
Last week, I mentioned that I
showed a sample of my product to people at a number of booths and received
favorable comments from most of them. I was looking for either a company to
license my product to, or for someone to team up with since I was trying to
break into an industry in which I have no experience.
I’m a firm believer in the old
saying that “50% of something is better than 100% of nothing,” and I had
been trying for over a year to get this product off the ground.
In the end, I decided to work
with someone – a start-up company in which the owner has 25 years of
experience in the industry and many contacts – on a 50 / 50 split.
Was 50 % too much to give up?
That depends …
If all goes well, then I will
probably feel as though it was too much. But I can live with that. If it
doesn’t take off, then it wouldn’t cost me much out-of-pocket money. And if
he can bring me many sales that I would not have made without his help, then it
will be a win-win deal for both of us. And he seems like the kind of person who
I would feel comfortable in working with again. Most inventors, it seems, have
additional products somewhere down the road.
So, at this point, a 50 / 50
split seems like a good idea. I’ll let you know how it turns out once the
results are in.
#
# #
Paul
Niemann runs MarketLaunchers.com, building web pages for inventors. Having your
own web page allows you to show your invention to companies when you’re unable
to present it to them in person, serving as your own “online brochure.”
Plus, there are companies who search the MarketLaunchers.com invention database
for new products. Visit http://www.marketlaunchers.com/forms.html
for details and pricing.
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