Show And Tell Don't expect things to happen from your dusty garage--bring your invention into the limelight.
By Don Debelak
Opinions expressed by Entrepreneur contributors are their own.
What do inventors do with great new product ideas they justcan't afford to take to market? One tactic they'reincreasingly using is attending invention conventions. While theseshows aren't the dealmaking paradises inventors hope for, theyprovide an excellent place to generate feedback, make helpfulcontacts and learn about the invention business.
Don Debelak is a new-business marketing consultant and theauthor of Bringing Your Product to Market (John Wiley & Sons).Send him your invention questions at dondebelak@uswest.net
The Real World
Young Kim of Wayne, Pennsylvania, developed and patented afront-wheel-drive mountain bike in March 1999. Although he'dcreated a prototype, he didn't have the cash to take hisproduct further. Then the 1999 INPEX (Invention/New productExposition) came to Pittsburgh, and Kim thought he'd found thesolution to his problem.
However, it didn't quite work out that way. Kim didn'tline up the money he was hoping for at the convention, but he didwin a gold medal for his bike and garnered positive feedback fromseveral mountain-bike riders who thought he had a great idea on hishands.
"I talked to several marketers who were also mountain-bikeenthusiasts," says Kim. "They loved my product, andthough they weren't with companies that could help me, theyfelt I had a great product and should try to market it."
Frank Hrabar, 42, and his daughter Kristin, 13, of Matawan, NewJersey, had a similar experience at the 1999 U.S. Patent OfficeInvention Exposition in Orlando, Florida. They made the trek to theshow with the expectation of finding a tool manufacturer to takeover their invention, an illuminated nut driver. They won firstprize for the best invention, and they received positive feedbackfrom people who attended the show, but they didn't connect witha manufacturer interested in licensing their idea.
"Most of the inventions at the show were much morecomplicated and sophisticated than ours," says Hrabar."We weren't sure that our invention would get muchattention. But Kristen and I knew we had a winner when, during theshow, people flocked around our booth and we won an award. The showgave us confidence that we had a winning product."
What Do People Think?
No one can be sure your idea will sell until it's actuallysitting on--or flying off--the store shelves. But you can get anidea whether your idea has potential at an invention show whenvisitors to the show: 1) flock to your booth, 2) love your idea or3) wonder where they can buy your product. People who attendinvention shows see a host of inventions, so you can learn a greatdeal about your product by seeing how attendees respond to your andothers' ideas.
First, pay attention to how many people come to your boothcompared to the booths around you. People will go first to boothswhere they see a product that fits their needs or is substantiallydifferent from other products on the market. If people aren'tcoming to your booth, it could indicate that your product isn'tperceived as innovative, your product isn't addressing a need,or people don't see how your product will benefit them.
Invention shows not only attract industry marketers but also awide variety of consumers. You'll generate more feedback if youhave a product that a sizable percentage of the general market willbuy than if your product is aimed at a limited market or is solelyintended for industrial use. You just won't see enoughpotential buyers of the product. Though the invention shows,particularly INPEX, run extensive publicity programs to aidinventors with products for specific markets, they still rarelyattract enough interested parties for inventions targeted at alimited number of buyers.
Networking
With luck, inventors might meet a few key contacts interested intaking their product forward into the marketplace. But many otherpeople can also be helpful. For example, Kim met marketing peoplefor several consumer-product companies that were interested inmountain biking. These contacts couldn't directly help Kim, butthat doesn't mean they weren't worth a follow-up call. Howcan they help? First, they can be ongoing advisors for Kim'sproducts and features. Second, they can offer Kim advice on how tomarket his product most effectively. And third, they may be able tooffer Kim some fund-raising suggestions.
Look at every person you meet at an invention show and askyourself how they can help you. Be sure to take down the name ofanyone you meet who is in your industry. A salesperson at a bikeshop, a bike repair person, or even a bicycle manufacturer'ssales agent are all possible connections to other contacts whomight be able to help Kim get his product into stores.
Scoping The Scene
Even if you're not ready to present your product at a show,you should take every opportunity to visit invention conventions inyour area. Shows offer a wide forum for networking with otherinventors and finding sources for legal advice, prototype buildingand manufacturing small lots. At many shows, you can also attendworkshops designed to help you prepare your product for market.
Invention shows may not be the quick route to riches inventorsoften dream of, but they're a great way to learn more about thetask in front of you, meet valuable contacts and get a better feelfor exactly how much potential your idea really has. Kim and theHrabars, both, were disappointed by the outcomes of the shows theyattended in the spring of 1999. But not discouraged, they bothsigned up to attend the Yankee Invention Exposition in November1999. Even though they didn't get financing or close any dealsthis time around either, they received more feedback from marketersas well as many new leads to follow up on. They learned that theinvention trade shows are a cost-effective way to get just a littlebit closer to success--even if they don't sign that "bigdeal" right away.
Get Your 15 Minutes
At most invention shows, you set up a booth and hope amanufacturer will stop by and visit. The Response Expo works justthe opposite. Companies looking for inventions set up booths, andwait for you to come to them. The show features a wide variety ofcompanies in the direct-response-TV industry, including companiesthat run one- to two-minute TV ads for products, as well ascompanies running infomercials on cable and local TV networks.
The lifeblood of these companies is new products, and if youhave the right idea, some of them will even help finance itsproduction. These companies only take on a very small percentage ofthe products they see, but the show might be just the place for youto visit if you have a product that will demonstrate well on TV andwill appeal to most people. The show runs March 20 to 22 at theCentury Plaza Hotel in Los Angeles. (There's no need toregister.) For more information on the Response Expo, contact LaraGiddings at (949) 760-0362.
Tips From A Pro
Ellen Yarnell, producer of INPEX (Invention/New ProductExposition), offers this advice to inventors who are attendingtheir first shows:
- Provide a visual depicting the inventio--either a product, aprototype, a working model or drawings.
- Make your booth eye-catching. Include photographs, posters orprops that relate to your product.
- Dress the part. For example, an exhibitor for a cooking productcould wear a chef's hat.
- Provide information for interested attendees. This can includebrochures, fliers, other promotional materials and business cards.Usually about a hundred pieces of literature is sufficient.
- While making certain to hand out material, you also need tocollect contact information from attendees. Don't rely on themcontacting you. Remember that follow-up is yourresponsibility.
- Greet attendees with enthusiasm and prepare a targeted salespitch beforehand in case some interest is expressed.
Invention show managers also caution inventors that the show isa public display of their product. If you are concerned that youridea may be stolen, you should have a patent, trademark orcopyright, or your invention should be patent-pending, beforeattending the show.
Contact Sources
Advanstar Communications, (949) 360-0362
Young Kim,kimbike@aol.com
