On Thursday, October 2 we had our third Speed Pitch event at the Small Business Expo at the Hynes Convention Center in Boston. Producer John Miller of Hutton-Miller, Bill and I were the judges this time on the panel. We had a great turnout from the inventor community of about 25 people. Being a native Bostonian, Bill quickly connected with the inventors as they exchanged exactly which neighborhoods and surrounding communities they were from. The pitches ranged from very sophisticated patented items, a crude pen drawing and a very enthusiastic presentation of just a conceptual idea.
There is nothing too out there for Top Dog to look at and thoughtfully consider. Our philosophy is that even if it not right for TV, the idea has merit and could be very successful in other channels. We shared our candid thoughts and advice for those items with the inventors, young and old. The day before Bill was on local Fox28 TV (see our News section) and many were very motivated to sign up. You could see that even though the Fox News host had his own product to pitch, and thought Bill would be crazy about, Bill was honest with his assessment on live TV and the host took the disappointment well. There were other “no tuck shirt”solutions out there in his category and maybe his invention was not the best solution. But Bill did it in good humor and it was well received because it was honest, reasonable and to the point.
That brings back to what we learned and I can share it with you. Inventors need to do their homework about the existing marketplace for the item in which they are working in. What other products are like theirs? at what cost? and in which channels of distribution? and what other products solve the same problem? This I believe is the biggest blind spot for inventors. The good thing is, that with the internet, the research can be an easy one with a little time and effort. The 7 criteria for the winners that we look for are the same in all our searches. It does not guarantee success, but it raises the probability of our success with you greatly. As we do only a few product a year, we are picky, but as an inventor you will get a quick definitive response, and if it is right, we will let the dogs out, and move quickly to get a commercial done and make a TV success just as we have done recently for the wonderful inventor of the BeActive Brace.
Compelling Visible Demonstrations
Solves an Important Problem to Customers
Cost of Goods allows for TV marketing
Instant Transformations, Works Quickly
Good Value versus Competitive Alternatives
Not Available at Mass Retail outlets… yet
By For Now,