Ridolfi's initial efforts gathered him local publicity, and
he was contacted by Vista Pro Inc., the manufacturer of Shaggy Jr.,
a golf ball dispenser. Vista Pro proposed selling the two products
together for $29.95 in a major direct-response TV campaign in the
New York area, so Ridolfi signed an exclusive licensing agreement
with the company, and the TV campaign launched in December 1999 for
the holiday season. The ads ran on stations throughout New York,
New Jersey and Connecticut. Sales came in from the ads but not
enough to generate enough revenue for either Vista Pro or Ridolfi.
Vista Pro started putting together a distribution program in early
2000 to get the products in stores, but it's still too early to
determine exactly how successful that program will be.
Small Stuff
Most inventors look to large companies to license their
products. But, in fact, large companies rarely license new
products. You are much more likely to get a license from a small to
midsized company that is trying to build a product line. Watch for
other small companies in stores, in trade magazines and at trade
shows; you probably won't find them in big directories like the
Thomas Register of American Manufacturers. You might also want to
consider offering small marketers a private-label agreement, where
you supply the product to the marketer to be sold under its name.
This kind of agreement requires much less investment for the
selling party than a license, and it also allows the inventor to
maintain more control over the product.
Plan C: New Golfers
Ridolfi is still hopeful that Vista Pro will work out. He has
now realized that his customers are new golfers, who are not likely
to visit the big golf stores because they cater to better golfers.
If necessary, Ridolfi will tap into the market for new golfers,
which includes golf schools at local golf courses, golf leagues for
junior golfers and lessons at driving ranges. Ridolfi isn't
sure how he will put plan three into action yet, but he sure
isn't ready to give up. He has a piece of advice for inventors:
"If you think an idea is going to make you rich quick, you can
forget about it."
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While it's difficult to know Ridolfi's eventual fate,
virtually every inventor goes through the same ups and downs that
Ridolfi has experienced. Recently, I talked to a local
inventors' club with the aim of offering insight into why
inventors succeed. I highlighted many of the successful inventors
I've talked to over the years, and the two common elements in
all the success stories were bulldog determination and an
unwillingness to accept defeat. If your first efforts don't
succeed, just open the next door-it might be the door to your
success. What's important is to follow Ridolfi's example:
Learn from each experience, and keep on trying until you find the
winning combination for taking your product to market.
Be a Pro
Kevin Ridolfi held down his patent expenses by using a patent
agent, but that still cost $3,500, and he will have another bill
once the patent is issued. If you want a patent but don't have
tons of money, you might want to consider PatentPro software from
Kernel Creations. PatentPro asks you questions about your idea and
then converts that information into a finished patent. At $329, the
software is not cheap, and you'll still need to send about
$1,000 to the Patent and Trademark Office (PTO), but the result is
still a whole lot cheaper than using a patent agent or
attorney.
PatentPro, compatible with Windows 95/98/00, includes forms,
checklists and the full text of the Manual of Patent Examining
Procedure from the PTO. Go to www.4patpro.com or call (888) 472-8776 for more
information.
Don Debelak is a
new-business marketing consultant who has been introducing new
products for more than 20 years. He is the author of Bringing Your Product to Market (John Wiley
& Sons).
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