An idea really doesn't have to be different. It is all about the story behind your idea. Fashion is often about the way you perceive yourself wearing it. Electronics is often about having the coolest gadgets. There is no reason to re-invent the wheel when developing your idea. It can simply be about your brand. With a t-shirt, you may have great designs or even a longer sleeve length. The important thing is that you have identified your target audience and can attract them to your idea. Pick out a feature you can highlight. While it may not be unique, it should be important to your customer. It really comes down to determining why your customer will be attracted to your idea and promoting those things. A compelling story goes a long way!

What makes people tick?

I learned a great lesson from a client many years back. They couldn't afford to pay the highest salaries in their industry but they had an interesting idea. They prepared custom incentive packages based on each employee and their interests. They would send off the "kits" to the employee's spouse. The incentives were terrific. Trips all over the world, days at the spa, sports equipment etc. Immediately the spouse would become the company's best nudge. The spouse became interested in their work and they both worked towards the reward! The incentives were more valuable than money would have ever been. My client went to the trouble of finding out what was important to each person and made it possible for each of them to reach their goals. Everyone worked hard, worked smart, supported each other and were happy. They knew they were important to the company.

Sometimes the little things get you much more than cash ever will.

If it were that easy, everyone would do it

A few weeks ago I spoke of an idea I was developing. I wanted it to be unique and one with a compelling story. At the time I did have several thoughts but nothing tangible. I have been at it every day. Finally, last week it came to me. In the shower of all places. It is a compilation of many of the ideas I had been working on. I made the first useable prototype today. It is by no means complete but I am exhausted. In the past week alone I have probably made over 100 variations to get to where I am today. Tomorrow will be more improvements until I hope to have a prototype I can begin to sell with early next week. I set a deadline of next week because the Gift Show is in New York, and while I don't plan on attending personally, my two favorite reps will be there. I want them to get feedback from buyers on the idea. I think it is terrific, the best ever - but then again I believe that about every idea and the bottom line is that it doesn't really matter what I think. It matters that enough consumers open their wallet and purchase it.

If this does pan out to be something special, people will wonder why it is so easy for me. It isn't easy for me, I just don't give up. Every failure is an opportunity for success! When something isn't right, you figure out a way to make it work. You stay focused on the end goal... a successful idea. Don't get caught up in all the reasons why it won't work. Many people simply give up. I am sure lots of people dream of the same ideas I do. I am determined to make them happen with a passion to succeed. If it were that easy, everyone could make their ideas a success rather than just talk, talk, talk.

It is possible. You have to make it happen and stop talking about it.

Don't Give Up... There is always a solution

Couldn't sleep. There were still a few details to work out. Arrived at the office at 5:30 am and got to work. Each sample can take quite a bit of time to make. I had several ideas on how to get the prototype just right. After I set up the equipment to make my first attempt of the morning, I moved on to the packaging. I had pondered about this for quite a while as well. Luckily it came to me quickly. I figured out a solution that would enhance the idea and make it more inviting to the consumer. Ordered samples online of all the materials I would need. Next, moved on to some additional items it would take to complete the idea. They also came to me quickly. At 10:30 am I thought it was going to be the best day ever. Then the problems started. None of the solutions I had worked out in my head were working. Over and over I tried. Made two runs to the hardware store to purchase things I thought would help. No luck.

I didn't care how long it took, I was going to have what I needed by the end of the day. 3:30 pm - still nothing. There must be a way to make this work. More investigation on the internet, more looking through my endless cabinets and drawers for ideas. 5:30 pm - another solution finally comes to me and I am trying a whole new approach to the problem. I am confident but I was with all the other ideas too. 6:30 pm - it worked!

Tomorrow I can make order the materials to make the final prototypes and work on completing the packaging! If you are determined enough and don't give up... there is always a solution!

Cut your losses

I received an eMail from an inventor who I met at a trade show several years back. At the time he was very excited about his new invention. To be honest, I liked really liked the idea. It fit into a category I am strong in and I believed I could help them distribute the product. His partner believed the idea was worth a fortune and was unwilling to negotiate at all. I probably would had done the same, however unlike me, they both had other full time careers.

They were promised the world from numerous wholesalers, rep groups and direct response media companies. In his eMail he explained that they were at the end of their road and did I have any interest. His opening offer was substantially less than I was looking for years ago. The dilemma was they had over 20,000 units in stock with soon-to-be-expired batteries. He went on to say he didn't believe he could manufacture additional units at that cost and he also believed his idea needed additional tooling to update it.

I applaud them for bringing the idea to market and not simply talking about it. It was a good effort with two key mistakes. First, the expectation that it would command such a high retail without understanding what the market will bear and what all the players would command for distribution. More importantly, their second mistake is more common. Purchasing a large quantity was less expensive than bringing in a smaller test quantity at a higher price. That would have afforded them the luxury of finding out about the updates they would need to make, being sure the batteries would not expire and determining the most sensible retail price.

At this point my recommendation to them was to find a liquidator, advise them that you are making a change to the item and have them purchase the existing inventory. This will bring in some much needed cash immediately before they will be forced to repackage the goods. Even at a loss, it will be less of a loss now than later. Further, if they decide to move forward with an updated version, they will have a good portion of the cash needed to do so. Unfortunately my guess is that the partner will not have the courage to cut their losses believing that somehow things will work out

A hundred now or thousands later?

A close friend has been working on a test order for a large new customer. Final samples and production had been delayed on her end several times. Finally all the details have been worked out and she is ready to order the packaging for the project. Her main supplier, who has loyally assisted her with this order, quoted her quite a bit more than others for the packaging portion but believes they can meet the delivery deadline. She was considering calling the customer and pushing back the delivery date again so she could increase her margin.

She was not loosing money on the more expensive packaging but she was having trouble spending the extra money. This is a test order. If her product does well, future orders would most likely be huge, planned well in advance and be very profitable. If she calls the buyer one more time with a delay, as a new vendor, she raises a red flag. Will she always have trouble shipping on time? The buyer may decide that it is too risky to go with her because if her product does well and she can't ship, their customers will complain.

I suggested she use the more expensive supplier. Inform them of the lower quotation, however rather than ask for a discount, offer to pay the full price for the goods if they delivery on time or early. If the order is delayed, she will deduct a pre-determined amount for every day they are late. This accomplishes two things. The vendor understands the importance of timeliness of the order and they also realize that she is a loyal customer of theirs. Something that is not so common these days.

It is important to look at the big picture. While you may make an extra few hundred dollars on your first order, you may be jeopardizing hundreds of thousands of dollars in future orders.

Yeah! It's the weekend

I like weekends because I tend to relax and ideas seem to flow. Some are good and some are bad but mostly, they are abundant. My problem is that I used to think some were so good that there would be no way I'd forget them by Monday morning. WRONG. I always ended up forgetting. That is why I now write down all my ideas or at least the ones I think are terrific. Even if I wake up at night, I put them down.

I have found when I get to the office and review what I have written down, most are terrible. Even the ones I was most excited about are bad. That being said, if I get one that is worth expanding on, it is certainly worth the effort.

My ideas range from different names, alternate ways to tell the story, and even solutions to manufacturing problems. Makes for a better beginning of the week. Instead of being upset because I thought I forgot the big one, I am able to quickly review and move on. Much better use of my time!