RoydH
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I commit to writing 15 minutes a da...
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RoydH commits to:
I commit to writing 15 minutes a day on a story about trying to do the Tim Ferriss/AppSumo for 30 days.
No more reports due
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My Commitment Journal
 RoydH
June 7, 2014, 3:24 PM
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| Need make up 3 sessions today. So 45 minutes of writing. So far my Tim Ferris experiment has been switched to learning Japanese. I think I need to have 2 sticks so that it is not so confusing. | |
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RoydH
May 25, 2014, 4:30 PM
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| Sunday 5/29/14: 164.4. | |
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RoydH
May 9, 2014, 6:13 AM
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So here are sme notes from today. Oka I stil lhave not asked a bunch of people what they think to validate a product, mostly because I think that simply asking friends does not seem like a a very reliable methodof validation. So I am reading Stephen Key's book. Here's the thing, I think validation will take over 100 products to see if it makes sense TO OTHER PEOPLE. Still I thinkyou have to start somewhere. I saw a video of Stephen Key at Google and he pretty much says what he says in the book. Stephen Key Google https://www.youtube.com/watch?v=6csI0dZzFRQ Here are some notes. When you create something on paper, it looks like you need to state the manufacturing methods as well. This might be something I may need to do for my Toothbrush that spins around so that gums can be trained down. Tips from the Video 1) Spend a week calling all the Companies. See if you can get hint of what they are looking for. Creating New Products: 1) Find something that already exists and is selling 2) First Change the materials 3) Mix and Match game (Synthesis) 4) Inspire yourself - See a movie or go to the mall. When you sell a product go make a 1minute video. State you product with ONE SENTENCE (Like a pitch it must have WOW by solving a problem or pain point, Your Sell sheet must point to the pain, and you product must address it. Ex. Spinformation: 75% more Information. More real estate on the labels. Ex. Chart that shows correct dosage not by age, but by weight = Saves people Ex. Sellsheet = sell = Fast Ad (one line sentence) = Video = Sell to the pain. = Must be powerful and EMOTIONAL. = FIND THEIR PAIN Go to LinkedIn to find the SALES Rep/Dept for a Product. Back door to Companies: Go to the AD Agency (Before 40:46 min) Call first for a connection. Don't go to the Legal Dept. or Purchasing Dept. THAT IS WAIT HELL. Go find the Sales Reps., Marketing Mgr, Branding Mgr. THey want to take your call. Try to call and sell something you have no intention of selling or making. See what happens. Call Contract manufacture You are a Product developer (Not inventor). 1) Can you Help me? 2) Can it be made 3) Have a Sell Sheet 1) Patent Pending It took Stephen Key more than 100 ideas and calls to Ohio Art to accept his idea. ***** Entrepreneur*** https://www.youtube.com/watch?v=KKYkmYuk5l8 1) Founder must give a damn about the customers and everything that is out there. 2) What is the thing that people really want out of your business. (SIMON SInek) Royd: Parents want them to continue to love writing Students want to learn how to be published. 3) Start will selling what people need/want first (WRITING SKILLS), THEN Make something people love (PUBLISHING). 4) Make a good impression 1) profile phots 5) No one want to use your website! 1) Don't make the website about you. YOU MUST MAKE IT ABOUT YOUR CUSTOMER. 6) Companies (Web Only?) 1) Community-based (Reddit) 2) Design Based (Easy to navigate) 3) Connector Based. (Connects people to others (Craigslist). 7) Treat Advocates or Power Users like Gold. |
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RoydH
May 8, 2014, 6:15 AM
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Date: 5/7/14, 4:56 PM Topic: May 7 So today, I did not really do any of my AppSumo or Tim Ferris, but I did read Stephen Key's Licensing book called One Simple Idea. The most important impression I took away from it was the idea of heavy marketing. If you are able to do enough of the heavy marketing necessary then comments from your wife, who may be your harshest critic, while being supportive, could be ignored. For his Basketball Wall Ball product, Ohio Art already had the pieces, the manufacturing, and the Michael Jordan license, they could easily make it, and promote it. Sounds like trash, but Key's point is to make it as easy for the manufacturer as possible. New products with complete different manufacturing methods require too much upfront money and engineering to be profitable. Michael Jordan Wallball: It's just a light basketball net with picture of Michael Jordan on it. https://www.youtube.com/watch?v=y8amvpf5Rfs Stephen Key At Google Talking about Licensing https://www.youtube.com/watch?v=6csI0dZzFRQ Hmm. Here's an exercise. Take a look at different manufacturers that have licenses with Movie Stars, Rock Stars, Sports stars. Who is the hottest Sports star right now? I don't know really. Who is hottest RockStar: Taylor Swift? Who is the hottest Movie Star? I don't know for students. What did kids want to grow up to be right now at 4th or fifth grade? We know kids want to be Sidney Crosby (Hockey). Who do kids want to emulate the most? Sports stars. http://abcnews.go.com/Sports/story?id=100296 Most popular game. Minecraft Evaluate Marketablility So yes, asking friends and family about your product is one way to validate, but that is not the end all. In fact, its not really that great of a judge unless some one says they want to buy it? Start with one product and take it all the way through the process of development and licensing. Be inspired: Go Shopping::Walk the aisles of: Walmart, Toys R Us, Target, etc. Check out Movers and Shakers Sleeping Dinosaurs: old ideas that can be renewed with a twist. Laser Tag. Check out trends: 1. Trendsetter.com 2. Mindbranch.com 3. Blogs, sites, Social Networking groups (meetup)Consumer magazines, Forums, Industry newsletters that cover trends. a. Learn as much as you can about a specific market: customer demographics, the companies provifing most of the profucts, the range of products within the market, and so on. b. Check out ecisting profucts in hte market assess their freatures and functions, strenfths and weaknesses, price and popularity. Evaluate how your idea stacks up agrainst the competition figure out your idea's unique value proposition: what if offers that comparative products do not. Figure out where youe ide fits into the market: determin who will buy you product, how they will use it, where they will buy it, and how much they might pay for it. Find out how your idea might be manufactured and packaged. Determine the manufacturing price point as well as the retail price point. Keep it simple: 1. An enhancemen of a produc that is already out there, or a unique take off of a product that is already out there. 1. Check out the Small Details that otehr people overlook 2. Flaws or gaps in form or function 3. Inefficiencies ans inconveniences 4. Boring or out dated materials and styles 5. Differences in the way differnet people use or view the product 6. UNconventional use of the product. 7. Other products that peopl use for the same or similar purpose 8. Potential applications of existing technoiogy. 9. R: What do kids like to play at the playground? Google Image Google Shopping Amazon Trade Shows Ask lots of questions. Establish contacts with potential licensees. Find the 3-4 movers and shakers in an industry. Target at selling to number 2 or 3. Check out their products. STEP ZERO: Come up with an idea that you are interested in. 1. Does it solve a common problem? 2. Does it have a wow factor? 3. Does it have a large market? 4. Dpes ot ise common production methods and materials? STEP ONE STUDY THE MARKET. 1. Does your idea sizzle? 2. Who is gping to buy your prodfuct? 3. Why are they foinf to buy it? 4. Where are they fping to nuy it? 5. How much will they be willing to pay fot it? Get a clear snapshot of the field. What are th hot prodcuts now? How are they packaged anddiplayed? Which companies manufacture them? Where are the sold? How will are they selling? Who is buting them? How are sales industrywide or for tha product category? What are the emerging trends in the field? STEP TWO: Find a mentor Find a Mentor? Get as close to someone who has actually done it. 1. Trade magazines. 2. Go to trade shows. Lots of mentors under one roof. 3. Websites of top designers in that field. Ideas: Portable restaurant rubbermaid container microwavable Idea: Restaurant bag: Reduce waste of food, and styrofoam. When we go to a restaurant we print stackable tupperware. This new tupperware container a. Will be microwavable. (similar but stronger than the chicken containers. b. Will be clear on the side, or Opaque (so that people cannot see the messy food. Perhaps it can be black. c. It will have tote bag to zip and close up to 4 containers. The bag will be black and insulated. Square containers stack better & fit better in the refridgerator Make it cute bag. Tupperware Ziplock Rubbermaid Glad Pictures on the Glass: Mindcraft, Frozen, Lego, Hip designs. http://10dof.org/storage-containers-food-safe/ http://10dof.org/rubbermaid-food-storage-containers-microwave-safe/ |
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