The Entrepreneur: Mary
Ellroy, 51, is founder of Gamebird LLC in Norwalk, Connecticut. A
toy inventor, Ellroy develops games and toys and licenses the
products to outside companies. She's also president emeritus of
the Inventors' Association of Connecticut (IACT).
Product Description: Of the
more than 100 games and toys Ellroy has invented, 13 have hit the
market to date. Examples include the Great States board game, the
Two Out of Three board game and the Magic Rainbow Sprinkler toy,
due to hit store shelves this summer. The games and toys are
primarily sold through specialty toy stores, such as FAO Schwarz
and Zany Brainy.
Start-Up: $25,000 advance
from Mattel Inc. in 1993 for her first game, American Rhythms,
which never made it to market
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Sales: $450,000 in 2002; $1
million projected for 2003
The Challenge: To locate
valuable sources of help while negotiating the pitfalls of
introducing a new product
As Mary Ellroy learned firsthand, an inexperienced inventor can
gain valuable knowledge and insights by joining an inventors'
group. Here are the steps Ellroy took to find the right group and
make the most of her membership:
Steps to
Success
1. Do some research. Take some
time to get to know your industry better. As Ellroy explains,
"I started out at the library, looking for the right
associations, trade magazines and trade shows." To expedite
her search, Ellroy used the game Trivial Pursuit to locate key
contacts: "I looked up all [the] articles I could find on the
game." After noticing references to a magazine called
Playthings just about every time she researched Trivial Pursuit,
Ellroy purchased back issues and signed up for a subscription.
2. Look for a sounding
board. Ellroy's first visit to an inventors'
club happened just six months after starting on her first game. Her
goal was to meet "soul mates, people who had been through what
I was going through [so I could] bounce ideas off [them]." The
spirit of camaraderie is strong in most inventors' clubs, and
that's what keeps even experienced inventors coming back. Says
Ellroy, "They enjoy being with other people who work outside
the box." To find an inventors' club near you, visit the
United Inventors of America Web site (www.uiausa.com) or
Inventors' Digest magazine online (www.inventorsdigest.com).
3. Make contact. According
to Ellroy, one of the most valuable assets of an inventors'
club is its membership list, and it pays to get to know the people
on that list. Members of most clubs include industrial designers,
marketers, prototype builders and patent attorneys. These contacts
have proved very helpful for Ellroy: "I had this vision of a
toy that would allow kids to always see a rainbow when they used
it, but I didn't know quite how to do it." So she teamed
up with one of the club's designers, and together they created
the Magic Rainbow Sprinkler toy, which was recently licensed to
Spin Master Toys in Toronto.
4. Present your ideas to the group for
feedback and help. Inventor clubs typically give plenty
of opportunities for inventors to throw out questions or problems
to the group for input. Some groups hold question-and-answer
sessions, while others organize round-table discussions on specific
topics, such as marketing, manufacturing, patenting or licensing.
Some clubs even let inventors make full presentations to the group
and receive feedback.
5. Get a variety of input.
Inventors' clubs tend to attract inventors who work at large
corporations as well as those at small businesses. This variety in
the membership allows an entrepreneur to gain many different
perspectives—whether it's regarding the resources
available to inventors or advice on how ideas are sold to
businesses.
Inventors from large companies are also typically aware of all
the latest technology available to help inventors. At IACT, Ellroy
learned all about virtual prototyping, 3-D modeling and stereo
lithography. She also gained a greater understanding of simpler
forms of prototype design.
| REVIEW SESSIONS | |
| Some inventors'
clubs hold invention evaluation forums, which you can attend to get
feedback on your idea from other inventors. That's great,
except they generally won't guarantee absolute
confidentiality. Before you decide to attend, keep in
mind these forums usually handle manufacturing and marketing
problems and provide inventors with general bits of advice. So if
you need to keep things confidential, you should meet with a
professional evaluator. To find one, check out these notable
inventor evaluation services: - The Innovation Institute
(I2, www.wini2.com) is a cooperative public service
program maintained by I2 and Southwest Missouri State University.
The evaluation includes a graded score for your invention but not a
lot of individual comments about your invention. Cost: $220 in the
United States, $240 elsewhere.
- The United Inventors
Association (www.uiausa.com) also offers I2
service with a $75 upgrade that provides you with a list of service
providers in your industry, such as industrial designers and
prototype builders. Cost: $295 to $315
- The Wisconsin Innovation Service
Center (WISC, Academics.uww.edu/business/innovate) offers an
invention evaluation that includes a competitive intelligence
search. The comments pertaining to your invention are more
individualized than those provided by I2. WISC also offers
distributor assessments, one-on-one customer interviews and a
licensing/strategic partner search for additional fees.
Cost: $595
- The Canadian Innovation
Centre (www.innovationcentre.ca) offers a
critical-factor assessment that covers 37 areas, including
marketing, legal and business strategy questions. The service is
available to both Canadian and U.S. inventors. Cost: $370 to
$1,488, depending on the service used
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