Fastlane to Shark Tank with a Physical Product

[Rawseed]

@broswoodwork thank you for the offer.

I'm more focused on the product I'll be launching in three months.

This product would be beneficial to entrepreneurs.

So, I may just take you up on the offer as we get closer to launch day.

How's the launch of your product(s) coming along?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Rawseed]

I'm tagging @JAJT because he's had experience with Kickstarter.. and its not as easy as it seems. He'll hopefully be able to fill you in.

Thank you @Scot . That's very appreciated.

 

[broswoodwork]

@broswoodwork thank you for the offer.

I'm more focused on the product I'll be launching in three months.

This product would be beneficial to entrepreneurs.

So, I may just take you up on the offer as we get closer to launch day.

How's the launch of your product(s) coming along?

Word!

Always slower than anticipated. Have a cnc guy cutting my prototype, so I can keep on top of the regular work, as I mess around with urethane rubber mold making in my kitchen. Behind schedule, but what are you going to do.

 

[JAJT]

Thanks @Scot for the tag.

For starters, keep in mind that Kickstarter is not the Field of Dreams - they won't come just because you built it. It's also not like Amazon - people aren't browsing the platform for your product.

In fact, the closest thing to compare Kickstarter to would be a long form sales page that you direct marketing efforts to. In fact, forget the comparison - that's EXACTLY what it is. Only expect eyeballs to your page that YOU drove there. If your customers saw your product on a blog, it's because YOU made the blog post happen. If they see it in the news it's because YOU made the news story happen. Kickstarter is not an organic platform. People don't just "go there to buy stuff". They go there because they were driven there. And nobody is driving them there but you.

That's why so many projects fail - people expect Kickstarter to do the work for them. They expect blog posts and video reviews and news stories and facebook posts and viral word of mouth to happen simply because they built something cool. It doesn't work like that. Every major kickstarter project you've heard about was the result of meticulous planning and feverish marketing and advertising efforts from the creators.

And like any good sales page - it's a hell of a lot of work to setup. You need to develop a pitch video, write copy and develop visual assets that all work together to convert prospects to customers. You also need to develop your reward tiers in ways that are both attractively priced but also enticing at all levels to your target audience.

You also need to decide if you're doing a local or international campaign and figure out in advance what shipping is going to look like at every reward tier so customers can understand this before they pledge.

You need a very solid advertising and marketing campaign to go alongside your project as well. Ideally you build up a following in advance of your launch date so that you can blast your product out to hungry prospects on launch day. Ideally you also have PR and reviews and blogs and all that lined up for launch day as well. You want everyone talking about your project as soon as you launch. The most customers buy on day 1, the more successful your campaign will likely be, statistically speaking.

You also need to pre-plan for what updates you'll send out to keep people informed as milestones are hit and your project is underway, you need to communicate with them in the comments, you also need to stay on top of social media. You need to be everywhere at once and on top of everything.

After the campaign finishes, you need to message everyone about what they purchased, when it will ship, do any surveys that need doing about their orders (colors, models, etc..), and keep them updated on the process as it moves along. Then you actually have to ship everything out so everyone gets their stuff properly.

There are tools that help with the actual customer logistics and surveys and such but 99% of the work is all on you and it's not insignificant. It honestly feels like starting a second business alongside your first.

I likely wouldn't launch a Kickstarter project again unless I had something truly exciting and revolutionary that people can get feverish about. The work involved is just far too distracting and significant.

If you had any specific questions, just let me know.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Rawseed]

@JAJT Thank you for the information, the heads up, and the warnings.

This is going to be a very interesting next four months.

 

[Bertram]

Day Three

I finished the description aspect of the provisional patent application.

I also received the CAD images and files from the Fiverr designer. They looked great. But, I had to send them back for some minor tweaks.

It was great seeing something go from my head into a three-dimensional product. Even if it's only computer-generated.

If the images look good, I'll file for the PPA on Monday.

This weekend, I'm going to start compiling a list of companies to reach out to for prototype creation.

Then start reaching out to them on Monday.

I really hope it doesn't cost too much.

This is the one.
Following. You sound duly focused for this.
CAUTION. Design drawings for manufacturing and patent drawings are very different animals.
Patent drawings need to be vague or strange enough for the invention to be difficult to copy.
Don't let anyone use the product without a NDA. Otherwise the use is considered public domain after one year, which would invalidated patent eligibility forever.
I'm happy for you @Rawseed .

 

[Bertram]

That's awesome! I can't wait to hear how your product comes out.



Lol. I only seem to be funny when I'm not trying to be.



Thank you.



Ofcourse. I'll either win or learn.



No IP lawyer.

You're right. Drawings aren't needed. But, many still recommend it:

• Stephen Key recommends adding drawings in One Simple Idea.
• David Pressman recommends adding drawings in Patent Pending in 24 Hours.
• My mentor gave me a copy of his PPA and he has drawings in his.

But, you're right again. Every time I change the design, I'd need to resubmit a new PPA.

I hope you have a great outcome here @Rawseed !
It's better to file the patent with the help of a patent clerk at least.
It's not a really good idea to just buy a book on Amazon instead. The patent laws change every year.
Here's one of the best patent agents on earth:
That Patent Guy

thatpatentguy.com – helping people create patents

thatpatentguy.com

He files bomb-proof patents and quickly.
There's no need to use a patent lawyer unless litigating.
The agents are trained on the legal dynamics of patent defense and how to design defensively.
Good luck as you go.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Bertram]

Thanks for the nudge @Vairavan

I just spent the past 5 days working at my day job. 12 hour shifts without any real breaks. So, most of my progress has been mental.

My provisional patent application has been filed. So, I'm officially "Patent-Pending".

I have multiple phone meetings set up with prototypers to get bids on producing a prototype.

Since my last update, I've also decided to do a Kickstarter for the product. I believe that's the best way to pre-sell the product, get more validation, and get on the radar of Shark Tank. I'm really serious about getting on the show.

So, I started researching Kickstarter. I was really excited about the whole crowdfunding thing. At least until I read in multiple places that seasonal projects should be launched during the season they're used.

My product is a grill product. So, it should be launched in late spring or early summer.

That means that I should launch the kickstarter in June or July of 2020.

An eight to nine month wait poses two problems:

1. I want to launch something before the Summit in February. (It's just a personal goal.)
2. I want to launch something early enough to be applicable to Season 12 of Shark Tank. (If the show is even renewed for Season 12.)

So, I'm pivoting to another product with plans to launch a Kickstarter at the end of January.

It probably sounds like another premature evacuation. But, I see it more as a strategic pivot.

I still plan to launch a Kickstarter for the grill accessory this summer.

OK one thing more, from an experienced Kickstarter-er, then I'll go away.
Awesome progress here.
It's healthy human nature to be on and off the pedal.
But in my opinion, honestly, it's not the best move to launch a kickstarter in the middle of the product season, because the kickstarter success story happen over stages. There's no time like the present. Your founders want to get you launched on the market next summer or early spring. This is a very good time time to find them.
In fact, October is the best month of the year for donations. Notice more nonprofits pitching for support these days?

The kickstarter journey should entail multiple launch phases. Initially your goal is to create a community of founders who are going to watch you grow. They will build the groundswell for the launch next spring. Keep the enthusiasm high with promotional events and products, looking ahead years. A kickstarter is a process, not an event.
Offer a party with live music and great barbecue plus accommodations for $5K contributions.
Offer a 10% donation to charity for the first 1000 orders.
Offer a signed copy of your first novel plus the item for $200.
Offer a public BBQ competition, with raffle tickets online and on site. Donate 10% to a local hospital so they'll advertiser for you and participate. Always contact the local news.
Offer a picnic following light public park clean-up (tons of built-in publicity with city, free media ads, etc) because you're humble,
Offer a private party with free tickets to a movie or game for 100 donations of $500.
Drive the publicity with actual events, not just social media.
Then when you approach your seasonal product launch go deeply into social media but add early grilling season outdoor events.

The live events support social media activity and also energize the inventor or artist.

Offer small rewards for very small donors to generate an inclusive community feeling. You can convert them with each event.

Your large sponsors will expect a journey lasting years. They'll love talking about making it possible for a fun, ersatz creatively frustrated physician to go on Shark Tank. I think that's a great hook. Here's to the creatively frustrated among us. Also you might want to envision the giving-back story very early on.

Good luck. You're an inspiration here.


One thing more.
Thinking a bit more on the patent filing element here. It will save you real money and time by using a pro to file your patent, if you're really serious.
Doing a patent search on prior art has to be done defensively, because that's where the competitors would be able to undermine your idea.


Whichever direction you choose, good luck.

 

[Rawseed]

This is the one.
Following. You sound duly focused for this.

You're right. I'm removing as many distractions as possible in order to get this done.

CAUTION. Design drawings for manufacturing and patent drawings are very different animals.
Patent drawings need to be vague or strange enough for the invention to be difficult to copy.
Don't let anyone use the product without a NDA. Otherwise the use is considered public domain after one year, which would invalidated patent eligibility forever.

I made a NDA with Panda Doc that I require everyone to sign.

I'm happy for you @Rawseed .

Thank you for your great tips and encouragement.

It's better to file the patent with the help of a patent clerk at least.
It's not a really good idea to just buy a book on Amazon instead. The patent laws change every year.
Here's one of the best patent agents on earth:
That Patent Guy
Guy Letourneau PE, US Patent Agent & "That Patent Guy" He files bomb-proof patents and quickly.
There's no need to use a patent lawyer unless litigating.
The agents are trained on the legal dynamics of patent defense and how to design defensively.

Thank you for the great resource.

OK one thing more, from an experienced Kickstarter-er, then I'll go away.

No need to go away. I appreciate your tips, resources, knowledge, and feedback.

But in my opinion, honestly, it's not the best move to launch a kickstarter in the middle of the product season, because the kickstarter success story happen over stages. There's no time like the present. Your founders want to get you launched on the market next summer or early spring. This is a very good time time to find them.
In fact, October is the best month of the year for donations. Notice more nonprofits pitching for support these days?

That makes sense.

The kickstarter journey should entail multiple launch phases. Initially your goal is to create a community of founders who are going to watch you grow. They will build the groundswell for the launch next spring. Keep the enthusiasm high with promotional events and products, looking ahead years. A kickstarter is a process, not an event.
Offer a party with live music and great barbecue plus accommodations for $5K contributions.
Offer a 10% donation to charity for the first 1000 orders.
Offer a signed copy of your first novel plus the item for $200.
Offer a public BBQ competition, with raffle tickets online and on site. Donate 10% to a local hospital so they'll advertiser for you and participate. Always contact the local news.
Offer a picnic following light public park clean-up (tons of built-in publicity with city, free media ads, etc) because you're humble,
Offer a private party with free tickets to a movie or game for 100 donations of $500.
Drive the publicity with actual events, not just social media.
Then when you approach your seasonal product launch go deeply into social media but add early grilling season outdoor events.

The live events support social media activity and also energize the inventor or artist.

Offer small rewards for very small donors to generate an inclusive community feeling. You can convert them with each event.

These are really great ideas. Thank you.

Now, I just need to execute.

Your large sponsors will expect a journey lasting years. They'll love talking about making it possible for a fun, ersatz creatively frustrated physician to go on Shark Tank. I think that's a great hook. Here's to the creatively frustrated among us. Also you might want to envision the giving-back story very early on.

I like that angle.

Good luck. You're an inspiration here.

I appreciate that.

One thing more.
Thinking a bit more on the patent filing element here. It will save you real money and time by using a pro to file your patent, if you're really serious.
Doing a patent search on prior art has to be done defensively, because that's where the competitors would be able to undermine your idea.

That makes sense.

 

[Bertram]

Bertram said:

CAUTION. Design drawings for manufacturing and patent drawings are very different animals.
Patent drawings need to be vague or strange enough for the invention to be difficult to copy.
Don't let anyone use the product without a NDA. Otherwise the use is considered public domain after one year, which would invalidated patent eligibility forever.

I made a NDA with Panda Doc that I require everyone to sign.

Hi @Rawseed , to further clarify on patent protection issues:
Does Panda Doc have experience with patent drawings or just manufacturing design drawings? If not they might not know how to hide details while illustrating concept. Patent agents often subcontracct with designers on your behalf. One-stop.

Second, I just want to emphasize once more that no one should use the unpatented product without an NDA, and that includes Aunt Margie and her bestie. After one year you'll lose the patent to public domain.

I was thinking you might do a Father's Day father-son BBQ competition with recipes - local and online, of course. Then create your own holiday, "National Saturday Barbecue" to show great audacity.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Rawseed]

I've gotten back some bids on prototype production for the grill accessory and they were higher than I anticipated. I may try to license that product to Weber or a competitor.

Regardless, I had already shifted my focus to the second product. It's not something that can be patented, so I don't need to do that with this product. I am going to trademark the name though.

I have a designer working on the design.

In the meantime, I'm creating a lead magnet to start growing my launch email list.

 

[cactus]

Any news @Rawseed ?

 

[Real Deal Denver]

I've gotten back some bids on prototype production for the grill accessory and they were higher than I anticipated. I may try to license that product to Weber or a competitor.

Regardless, I had already shifted my focus to the second product. It's not something that can be patented, so I don't need to do that with this product. I am going to trademark the name though.

I have a designer working on the design.

In the meantime, I'm creating a lead magnet to start growing my launch email list.

Great journey so far. Update?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[DreamLund]

Any update @Rawseed ?