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Archive for June, 2011

In light of our upcoming DRTV Product Summit (September 28, 2011), we thought a few words here on what makes a great product “pitch” would be beneficial to our readers.

In preparation for the Summit, we put together some guidelines specific to the Direct Response (infomercial) industry, but in reality many of these tips can apply across all categories.  Bottom line is…if you are meeting with a company in order to pitch your invention, whether it be a household gadget or a medical whatzit, proper preparation will increase your chances of success. 

First tip:  EDUCATE YOURSELF.  This means know the category/market into which your invention falls.  Clearly understand the “problem solved” and consider objectively just how big that problem is.  Research other products that solve the same problem and know their shortcomings. 

Second tip:  KNOW YOUR PRODUCT.  Know the patent status of your invention (and for that matter, of any competitive products/prior art, too).  Clearly define the benefits and features of your product and compare/contrast with your competition.  If you have sales history, be prepared to share.  If you have (or can obtain) manufacturing costs, be prepared to share.

Third tip:  PITCH LIKE A PRO.  Be enthusiastic, but remain factual…to say that “my invention is the only one of its kind”, or “this is a million dollar idea” don’t really help your credibility.  Tell your story…define the problem…but keep it brief (not boring!).  If your invention is conducive to an on-site demo, practice it at home and have all the props organized for a smooth presentation.  If you can’t demo on-site (maybe your invention requires a hot oven as a prop), can you provide a video? 

Should you find yourself face-to-face with a company evaluating your invention, we hope these tips come in handy and wish you much success.

2011 DRTV Product Summit – Private pitch sessions with 6 leading infomercial companies in one location  CLICK TO SUBMIT

Click here to download the DRTV Product Summit Tip-Sheet.

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As an inventor, I’m sure you have watched Shark Tank on T.V and thought, “I really wish I had the opportunity to get my invention in front of decision makers at big innovation companies.” I bet you have thought about your product being sold on the shelves of department stores, seeing young and old use your product with smiles on their faces, and of course making some money in the process. 

As your mind starts to daydream about all the possibilities you can have if you just had ONE shot at pitching your product in front of the right people, Mr. Reality steps in and rears his ugly head! You start thinking about how many steps you need to take to get on a television show…or how much money you need to spend going to multiple trade shows all over the place, and knowing you have a slim chance of anyone important even seeing your product. You then realize another scary thought; what if your dream does come true…a company has interest in your product….now what? 

Well, I’m about to tell you some AWESOME news. Just think of me as your “Invention Jiminy Cricket.” The chance you have been waiting for is here! InventionHome is pleased to announce their first DRTV Product Summit, September 28, 2011 at Robert Morris University, located in Pittsburgh, PA. Twenty-four inventors will have 10 minutes to pitch their product to SIX of the top DRTV industry leaders!

So you are wondering, what’s so great about that? Oh, ye have little faith my friends – let me tell you the top benefits. Let’s start with everyone’s favorite word – FREE!!! That’s right, you heard me, it’s FREE to submit your idea here. Our team of professionals at InventionHome, responsible for licensing over 100 products, will review submissions and select 24 products that best fit the DRTV Category. If you are in the top 24, you get 10 minutes ONE on ONE, undisturbed time with each company. These are big companies people…ever hear of a little product called “Snuggie” or “Topsy Turvey”? InventionHome is bringing you the cream of the crop! Oh, and again our favorite word – FREE! There is no cost to you to attend the DRTV Product Summit, only your travel costs.

Another big-time benefit is that if a company has interest (which is the goal, right?), InventionHome will be with you every step of the way as your agent. That means we help negotiate contracts, follow up with the company and answer any questions you have along the way. InventionHome receives a commission only if the license or distribution agreements are signed by all parties involved.

So what are you waiting for? This is your chance! Go here for all the details: http://signup.inventionhome.com/product-summit/drtv/. Be sure to stay in touch by being our Facebook friend and following us on Twitter.  Oh and don’t forget what Jiminy said, “When You Wish Upon a Star.”

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