THE SILVER PLATTER APPROACH
When You've Got the Right Ingredients, Your Chance for Successful Licensing Rises Dramatically.
By Ken Tarlow
In this issue, let's look at an approach that can offer you a major step toward success. The "Silver Platter" approach has dramatically helped the success rate of products developed by myself and my clients. Normally when "experts" talk about the chances of success for a newly-developed product, they talk in terms of two out of 100 products actually making it! With those odds, you might as well go to Las Vegas and play roulette.
The silver platter approach means that all aspects of the product are thought out and the illusion of a finished/manufactured product has been created before one dime is spent on tooling or manufacturing. The illusion is created by having:
1. A Good-Looking, Working Prototype2. Impressive Packaging
3. A Patent Pending
4. Appropriate Pricing
5. An O.E.M. (Original Equipment Manufacturer) That is Lined up to Make the Product
6. Positive Feedback From Potential Store Buyers who are Ready to Order the Product.
When a potential marketing or manufacturing company sees all this, all they can say is "YES!"
There are a number of rip-off companies out there who advertise to inventors and tell them they will get their inventions placed or licensed for them by sending drawing to potential manufacturers and entering the invention in a trade show. They don't develop the product, they don't use the silver platter approach and their success rate is about one in 1,000. For this, they charge approximately $3,000 to $6,000.
For a cake to turn out right, you need to use all the proper ingredients. If you want your product to be totally successful you also need the right ingredients. So read the above points again and read them carefully.
When you've got all the Silver Platter ingredients, you can present your new product with total confidence. You know your product inside and out and you have strong knowledge of the industry your product is a part of.
Remember, speak with authority. You're the expert!
Ken Tarlow is president of Tarlow Design, a full-service product development company that helps independent inventors design, prototype, patent and license consumer product ideas. He has developed more than 300 consumer products worth over one billion dollars in retail sales. Tarlow's office is in San Rafael, CA. He may be reached at (415) 457-6428.
The above article was excerpted from Tarlow's MIND TO MONEY, a cassette tape/workbook package that can help you develop a new product from the idea stage to the marketplace. MIND TO MONEY may be ordered from the Dream Merchant at $59.95 plus $4.95 CA sales tax and$5 shipping and handling ($69.90 total). Send orders to the Dream Merchant, 2309 Torrance Blvd., Suite 104, Torrance, CA 90501.
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