" How I Got My Product Into Home Depot"

Here is a recording that will excite both inventors as well as anyone who likes a good story.  Get ready for an education in invention and marketing that you cannot get anywhere else!

John has been the inventor of many successful products.  One in particular is  a product named EasyGlide, which is basically a polymer that John had packaged into an aerosol can.  When sprayed into drapery or sliding door tracks, it facilitates the movement of the draperies or sliding doors by more than 50%.

He worked very hard and actually got his product into the giant Home Depot chain of stores, where his product’s price undercut all of the competition.  It was, and still is, a very successful product.

John explains to me that a large company that had almost two hundred products in Home Depot, had approached him to not only buy the rights to EasyGlide, but to hire him at a handsome salary plus royalties to operate that division as well.  John accepted their offer and, although his current salary is lucrative and his job is enjoyable, John wants to do something new and different.

You see, John not only loves inventions – he also loves to help people.  For years, he has been approached by people who have invented products and want to know how to get that product into Home Depot or its largest competitor, Lowe’s.  If John believes the product is right for the market, he becomes a consultant to the inventor, giving the inventor all of the tips and secrets that he knows to get the product into the desired marketplace.

The problem was that John always gives his information away for free! 

One of his good friends and trusted advisors kept telling him that he had to stop giving this information away for free.  In calling around for advice, he ended up calling me.  John tells how his EasyGlide product came to fruition and new plans for the polymer in other industries.  You will also hear about some of the other products invented and sold by John – and you’ve most likely heard of all of them.

In this recording you will hear me do a consultation with John, asking him what ideas he has about what he wanted to do with all of his experience. 

As I ask John what specific questions people have asked him (it is mainly, “How do I get my product into Home Depot?”), it occurs to me that the answers to all of these questions would make a GREAT information product!

Listen as I give John some ideas about what his information product could consist of and how he could generate leads and market it.  We also discuss how I could help him to actually develop his information product with audio interviews and perhaps copywriting for sales letters and written content.  I also give him some ideas about pricing the product.

John digresses to an incident experienced by one of his mentors, the actual inventor of the vice grips sold by Sears/Craftsman and several other stores.  Listen to how this unfortunate gentleman actually lost the rights to this now popular product and only received a pittance for all of his hard work.

Even though John was aware of what had happened to his mentor, John actually got into a similar situation with a key-based product that he had invented and produced.  He got involved with another company who contracted with John to sell them millions of this product. 

Listen as John explains that he now believes that they had absolutely no intention of paying for the products.  Instead, they offered to buy his company.  John refused and the result was that they went to court.  You’ll hear how this large company tried to settle with John and how John refused.  John’s story is a lesson in itself in what to look out for when doing business with big, ruthless companies.

Going back to an information product for inventors, you will hear me explain how this type of product could be immensely successful because of all of the people who have patented inventions and would give an arm and a leg to know how to market their product to giants like Home Depot.

You’ll hear my best advice about how John might market his information product, including conducting seminars versus other types of lead generation techniques without having to travel constantly.

As John tells me of some of his recent experiences helping other inventors package and market their products, another idea comes to mind.  Perhaps instead of creating an information product, John should become a consultant as an expert in the field of successfully marketing new products. 

You will hear my ideas and advice about how John could have a fun and lucrative business as a consultant.  How about combining consulting with an information product?  With all of the high-powered contacts that John has in several industries, what a perfect business this would be!

At first, John is doubtful that his knowledge is worth anything.  But as we talk, John starts to realize that he is undervaluing his services and needs to start charging for his work and advice.  John definitely sounds excited, wants to think about it and promises to call me back about where he wants to go from here.  John needed to go over his contract with his employer with a fine-tooth comb to make sure that being a consultant or developing an information product would not go against any provisions in the contract.

Unfortunately, I never did hear from John again.  My educated guess is that, after looking into his contract, John probably found that anything he develops would be owned by his employer. 

Although the outcome of my interview with John is unfortunate, I must say that the interview, itself, will make you realize many things about inventing, marketing your invention to large companies, selling the rights to your product to large companies, and I hope that the mistakes made by John as well as his fellow inventors will help you to be aware of the good and the bad things to look for on your road to success.  Enjoy!

 PDF transcripts

download mp3 one

 

download mp3 two

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