USE YOUR NEWS

June 27th, 2010 by Todd Brabender

Let’s say you have a uniquely innovative product/business/invention/venture on your hands…one that’s generated some nice media exposure/publicity (whether it was the product of your hard work or generated by a hired PR specialist or agency). Other than using the mounds of tear sheets as wallpaper and those stacks of videotapes as door stops — USE YOUR NEWS.

I always tell my PR clients that we want a publicity campaign to be a “controlled burn, not a flash fire.” One way to keep those PR embers glowing even after the flashes of placements have been generated is to use those tear sheets and tapes to figuratively “fan the flames.” USE YOUR NEWS as part of your business presentation to your market. For instance, if I am seeking venture capital for my new product/invention, I look alot more attractive to the prospective investor if I can show them previous/current media exposure. Sure, your PR campaign generated a great 1/3 page editorial placement last month in Entrepreneur Magazine. However, was this prospective investor/customer one of the magazine’s 525,000 subscribers? Did he/she even see or hear about the article? Make sure he/she does!

USE YOUR NEWS by Packaging your PR!

That Entrepreneur Magazine tear sheet atop a Chicago Tribune Business Page tear sheet along with the videotaped segments of you/your product on TV newscasts and audio-taped clips of morning-drive radio shows probably looks pretty good to that investor. Just think of the publicity and subsequent consumer interest you could generate with some strong financial backing! Your PR campaign has helped prove to the investor the viability of the product/venture in the micro-media-market, imagine the exponential interest both of you could generate on the next level in the macro-media-market.

Positive media placement is a solid validation as to the potential marketability of your venture, especially if those placements were generated in media outlets trade-specific to your market/industry. Be advised…publicity/PR can’t market FOR you; it certainly can and should market WITH you. When it comes to the publicity/marketing of your venture, the old adage “no news is good news” couldn’t be more wrong. So, if your PR campaign has been effective enough to generate news, turn that into NEWS YOU CAN USE!

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Todd Brabender is the President of Spread The News Public Relations, Inc. His business specializes in generating media exposure and publicity for innovative products, businesses, experts and ventures.

http://www.spreadthenewspr.com

todd@spreadthenewspr.com

(785) 842-8909

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What does God want me to do when I grow up?

June 13th, 2010 by Jeff Gawronski

We all have a calling, a passion and overall God given gifts and talents.  The question is do you use your Gifts?  Or do you hide your Gifts and accept the routine of life?

If you asked most faith based entrepreneurs they would tell you that they are using God’s given gifts and that doing what they were compelled to do is one of the greatest thrills of life.  When you do what you are supposed to do you feel alive!

I have been asked all the time, “How did you come up with the idea for Yak About It?” or other media type ask, “How did you come up with this concept, or that business plan? Unfortunately the media doesn’t really want to hear, “The concept came out of nowhere when I was driving down the highway and I have to give 100% of the vision to God”.  This also doesn’t help other prospective entrepreneurs who want a concrete ‘how to’ that they can draw from and use.  What I think that answer can do is hopefully inspire other potential entrepreneurs to listen to that inner urging or to take on that God given concept that they can’t seem to shake out of their head.  I am not talking about that next get rich quick scheme that popped in your head, but rather the concept or idea that you never asked for.  That business or invention that you didn’t want to invent, but God won’t let you forget about.

One more thing is very important.  Just because your idea, rather ‘God’s idea’ has engulfed your life doesn’t mean you don’t have to work to cultivate it the right way to succeed.  In fact the ‘idea’ that you can’t shake, may have occurred to lead you to the better idea that hard work and research will help find.  Then, when you do the hard work, create a successful company and make it fly, you’ll feel that greatest thrill that entrepreneurs talk about.  You then of course will also have some material to tell the media on ‘how you did it’.  Just so long as you remember you’re company’s true start and success are a credit to God’s power and God’s will for you to do what you were meant to do.

So… What will you do when you grow up?

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To Pay or not to Pay?

May 23rd, 2010 by Jeff Gawronski

One of the hardest questions that new entrepreneurs face is: When to pay themselves?  I have seen all sides of this question.  I have seen those who won’t even start a company until they gain enough capital investment for a paycheck and I have seen those who always find a reason to hold off on paying themselves.  Which way is right?

It probably won’t surprise you to hear that the right way is a happy medium to both of the described ways.  But the ‘why’ is what might interest you.

1. Payday immediately – This way is wrong for several reasons.  First, you may never even start your company because you are ‘waiting’ for enough capital investment to pay yourself.  Second, many of those who are looking to invest don’t want to pad your pockets.  Whether angel investors or friends, most ready to give you money for your idea will want to give it to something in the business.  It is hard to invest in a company when you know it might actually be going to your new car!

The next reason is that your new company is too cash flow fragile to start paying yourself.  Essentially by taking the money yourself you are limiting your company’s future growth by limiting its purchasing power.  You will find many things you should do for your company that you can’t because you lack the funds.  Just remember if your company starts to succeed you’ll earn a much greater paycheck if you just show some early sacrifice.

A last and final reason to wait on the paycheck is to wait until you’ve earned it (wait until you start to reach success).  By waiting you won’t be dilusional that your company is doing well when it is not.  You’ll be hungry and literally working for food.  With your back up against the wall you’ll find that you’ll work harder than you ever have in life.  You also won’t over-charge for your product. I have seen inventors seemingly try to earn all their investment back in one sale because they are trying to get ‘paid’ right away.  By pricing to get paid asap, you are most likely pricing your product(s) out of potentially a real success.  Buyers are smart and sales will be severely limited if your pricing is padded to give you that paycheck now.  Work hard, stay hungry and you’ll get to a paycheck.

2. Waiting for Payday – This way is also wrong for several reason.  First, you must recognize your value.  No one else is going to recognize all your hard work by paying you, so you must do it yourself!  Think about this; if you don’t pay your Accountant, Lawyer, or Graphic Designer they’ll come after you and demand their money.  If you don’t pay yourself no one will come after you… but why are you less valuable than your hired out professionals?  Truth is, you are the most important person in your company and once the company starts to succeed that must be recognized by a paycheck.

The next reason is that if your company is really going well and has a chance to be successful, it must be able to support your paycheck.  No one will want to buy your company if they look at the books and realize that the ‘owner’ never got  paid.  This will scare off any potential purchaser as they will be concerned that something is wrong with the company.  They will feel the company can’t afford the needed expense and will not be convinced until they see the necessary expense on the books.

A last and final reason to pay yourself when the company starts to succeed is that you deserve it.  You didn’t leave a cushy (yet boring) job to earn nothing.  You quit so you can make a better life for you and your family.  Respect yourself and you’ll find a greater appreciation for ‘doing your own thing’ and the entrepreneurial life you dreamed of.

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5 Tips for Inventors Selling to Retail Buyers

May 3rd, 2010 by Jeff Gawronski

When it comes to working with retail buyers there are a few things all inventors have to keep in mind.

1. Don’t skimp on your margin. Offer 50% or better to the retail store you are selling to. Stores know the margin they need to hit to succeed and most need at least 50% if not upwards of 60% to be profitable.  If you offer your product at a mark lower than 50% you run the risk of getting ignored no matter how great your product is.  Or if your product does get picked up it most likely won’t be featured as retailers need to push the products that provide a healthy margin.

2. Ship FOB, but if the Retailer wants you to ship pre-paid and add do not add a ‘handling fee’. This is not only tacky, but it is not considered acceptable.  You can only add an extra fee if you’re shipping individual units.  This is commonly referred to as a drop ship fee.  A typical range is $2-$5.00 per shipment.  Your cost should be based on your box cost, packing materials and labor. Drop ship fees are generally per order, not per unit, however if your item is ordered for inventory a drop ship fee is not acceptable.

3. Give Net 30 terms and don’t be afraid to ask for your money if the retailer is late. If you are worried about getting payment you can always seek references, but to gain the business you should provide net 30 terms.  You can always refuse to ship order #2 until order #1 is paid or if the retailer is notoriously late you can request credit card payment or drop them all together.  Conversely if you don’t originally grant Net 30 to open the account you most likely won’t even have the chance to adjust later.  Lastly, if a retailer is late paying assume the invoice was not received or was over-looked, most retailers pay promptly after a friendly reminder.

4. Only submit your product to retail stores that are a fit. Buyers are busy and to waste their time is not only a waste of your time, but could be perceived that you are poorly prepared or that you have not taken the time to research the store you’re pitching your invention to.

5. Freely give a sample if requested, but never pay for overnight shipping. Samples are commonly needed by buyers and the review process is important.  What’s not generally important is how fast the sample is received.  Shipping overnight is costly and typically doesn’t gain the product any extra advantage.

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Generating Publicity: Will The Media Be Interested In My Product/Business?

April 22nd, 2010 by Todd Brabender

When it comes to launching a new business or product, some marketing consultants might say that EVERY product is appropriate for a publicity or media exposure campaign. That is true to a degree, but as a PR/publicity professional and former media person, I would qualify that statement by saying that although new products would benefit from a solid publicity campaign, not all businesses or products and their pitches will grab the attention of the media.

A number of strategically generated features or product mentions in magazines, newspapers and TV/radio/cable shows nationwide can lend strong credibility to a new product. That “media bullhorn” can also do wonders toward educating consumers about your product. But does your product — and its media pitch — have what it takes to attract the media into giving you coverage in their pages or on their airwaves? As I mentioned, many products or businesses can generate some type of publicity and media interest, but in my professional experience, the types of products and pitches that lend themselves to the best media exposure include:

  • home/garden products
  • kitchen/cooking/food products
  • consumer electronics
  • automotive accessories
  • home repair/DIY tools
  • personal health/medical/fitness products
  • recreational/outdoor products
  • experts (business, health, technology)

If you have a new or under-publicized product in one of these categories, the media could be a good friend to you. However, you first have be a friend to the media. Your product (and pitch) needs to have what the media calls a “news peg” — that gives them a logical and newsworthy reason to feature YOUR product as opposed to the 200 other media pitches that are on their desks right now. Additionally, you need to make it as easy as possible for them to do your story or they WILL move onto a competitor’s pitch and product that is easier to cover.

  • Can you provide a media sample?
  • Do you have quality photos of the product?
  • How can the product be purchased: in stores, catalogs, online, by phone?
  • Can you arrange a quick interview if needed?

Products/services that don’t really lend themselves to media interest or publicity are things like:

  • website developers
  • cell phone/printer cartridge sales
  • vitamin supplements
  • insurance
  • financial planning
  • realtors
  • MLM/downline schemes

I’m not implying that these types of businesses aren’t media worthy. I’m simply saying that from a media interest, editorial standpoint, there are thousands of competing product and businesses like these on the market and unless they are offering something truly unique, they lack that “news peg” that will attract the media’s attention. If you are launching, let’s say, a new garden tool that is very similar to many other garden tools on the market, don’t expect much interest from the media in putting together a feature. You can create that news peg by answering a few questions:

  • How does your product differ from competing products already on the market?
  • Why should the media and subsequent consumers be interested in your product?
  • Does it provide a solution to an existing problem for consumers?

Bottom line – a properly maintained publicity campaign can help forge wonderfully reciprocal, mutually beneficial relationships with the media. Reciprocal, in that the media constantly need interesting information to put together their product profiles and business features — and YOU need constant media exposure to get the word out. If your product or business can meet the media standards mentioned above, you could benefit greatly from some solid nationwide media exposure. Getting your product mentioned in print articles and on TV/radio shows nationwide will help spread the word to customers — and at a fraction of the cost of a nationwide advertising campaign.

Todd Brabender is the President of Spread The News Public Relations, Inc.

His business specializes in generating media exposure and publicity for innovative products, businesses, experts and inventions.

http://www.spreadthenewspr.com

todd@spreadthenewspr.com

(785) 842-8909

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The power of POSITIVE thinking

April 8th, 2010 by Debbie Oser

Hi! My name is Debbie Oser, founder of Keeping it Positive.  Our company was started, and is still growing, on the mindset of thinking POSITIVE, and never giving up!

I started Keeping it Positive after an experience I had with my older son… The summer of 2007, I started saying Positive Affirmations to my two sons every night (then 3 and 5), hoping to give them the Confidence and Self-Assurance they need as they go through school, making friends, learning and doing activities, etc!

I wasn’t sure the affirmations were “sinking in”… until one day at the playground, when my older son stopped me from helping him  by saying, “No, Mom, I don’t need you… I can do anything I put my mind to!”

I was so excited to hear that the Affirmations we had been saying every night were truly making him more confident, that I wanted to spread this Positive message to ALL kids, and adults, everywhere… and Keeping it Positive was born!

I had decided that my first product was going to be a Pillowcase with Positive Affirmations, as it’s right there when you go to bed, and wake up, and contains ALL the Confidence-Building Affirmations right on the product in front of you, not only to see and touch, but to mentally say everyday.

In trying to start this business, and actually create a product… I had researched companies and called people for what seemed like forever! These lists of people that I would talk to were not always so encouraging and positive.  And though, mentally draining… I was determined to succeed, and continued this researching quest! To find the right material Pillowcases I was looking for was surprisingly very difficult. And many of the screen printers that I had spoken to about printing the affirmations onto the Pillowcases would tell me that it couldn’t be done in the size and colors that I needed!

I knew that I was NOT giving up, and if these people couldn’t do the job for me… then I would keep calling until I found someone who COULD! And sure enough, after months of time, energy and focus… I DID find the Pillowcases, and the right screen printer who said “yes”… and I finally had my product – my Pleasant Dreamz Positive Affirmation Pillowcases!

Another obstacle in this process was to try to keep “nay-sayers” at a distance… not everyone encourages you to pursue your “dream,” or try to start a business.  And no matter who is telling you not to do something, or you can’t do it, or just to give up… you MUST always tell yourself to ignore these negative thoughts/people, and you must be your own biggest supporter! This is exactly what I did with my own daily affirmations… and it worked, and still works to this day!

Our goal with these products is to have ALL children, and adults, know that if they BELIEVE in themselves, and KNOW that they CAN do it… they WILL Succeed at anything they put their mind to!

Everybody could benefit from a daily “dose” of confidence, and encouragement… and we truly do believe whatever we tell ourselves… so make sure it’s POSITIVE!

SEE it, SAY it, BELIEVE it…. and it WILL happen!

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How niche are you?

April 1st, 2010 by Jeff Gawronski

The thought of being able to sell to everyone is great, however being niche is where you want to start. Having a niche retail store or niche invention allows you to hone in on potential customers, while having a product for the masses allows for only broad marketing strokes.  By going too broad your pockets better be deep or you’ll burn what could be an insurmountable amount of budget on marketing.  If your pockets are deep or you are well funded then having a product for the masses is clearly ideal, but for the majority of start-ups it is best to look niche and expand from there.

What’s your expertise?

By having a niche invention you can not only market yourself as the expert of your niche, but if you work hard enough you can become a true expert.  Think about… through all the product development, research and energy it takes to bring that idea to market you have in many ways already become an expert in your niche.  Now, take it a step further by doing more research and by doing more to implant yourself as the ‘go to person’ of your niche industry.   It would be hard to be an expert of all things housewares, but why not be the expert of your niche item.  For instance it may be cooking eggs or organizing plates, or washing dishes.  Hone in the exact area your invention or business falls and you can find success.

Success can not only mean with your invention, but it could also mean for a niche website or you may even become a niche manufacturer or inventor who licenses products.

Niche is the New BIG.

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Ready, Set … LAUNCH!

March 17th, 2010 by Jeff Gawronski

It’s official Dorm Co, www.DormCo.com has launched.  Most of you know I launched Yak About It back in August 2009 (the same month I sold my first company).  Now after 5 months of intense planning I am pleased to say Dorm Co, (my second take on retailing college dorm essentials) has launched.

Being excited to launch may not surprise you.

What might surprise you is if I told you I don’t care about sales for the first 1-2 months.  Sure, getting sales is a good thing, but it’s not the focal point.  What is the focal point is ensuring the company and website foundation is strong enough to take on a large amount of orders.  Many entrepreneurs aim to race for the quick sale only to leave the entire company vulnerable to faltering long term.  My best advice is to build for long term success and to create a company that puts you in the best position to sell in the future or grow into a large functioning entity.

If any of my fellow entrepreneurs have feedback for me regarding Dorm Co please feel free to share the good or the improvement ideas at Jeff@DormCo.com.  In kind I would be happy to review your website and/or products and offer my opinions.

Thanks for helping me take the first couple of months to make a strong company foundation!

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YAK ABOUT IT ONLY — Special PR Offer!

March 11th, 2010 by Jeff Gawronski

As a way to help “spread the news” for products featured on Yak About It, Spread The News PR has agreed to offer a discounted rate exclusively to Yak About It featured inventors & readers until April 30, 2010.  Instead of the traditional $2500/month Custom Campaign fee, Spread The News  PR will offer a $500 per month discount – (minimum 3 month national campaign). Go to www.spreadthenewspr.com and fill out the  online FREE PR Consultation form.

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For those of you who have followed Yak About It, you may have seen our abundant number of media hits.  Although we like to think that Yak About It got the ‘news’ just by being a great website, that featured even better unknown inventions, we know the truth is really due to Todd at Spread the News PR.  The media may find you on their own, but odds are they are so busy it takes a well connected source to get them to take notice.  Yak About It is proud to say that Spread the News PR has been obtaining Yak About It press hits since November of 2009.  Without exception, Spread the News PR has lived up to expectations.  Unfortunately it took a few ‘bad PR companies’ for Yak About It to go through in order to find Spread the News PR.  If your business or invention could use the media talking about you, then you have to not only consider, but you should also hire Spread the News PR.

-Jeff Gawronski

CEO

Yak About It

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If you build it … will they come?

March 3rd, 2010 by Paul

While flipping through an outdoor magazine, I found an article about a new product. The article was about a guy who turned a “passion” into a new product.  A regular guy with a regular job (Repo Man) that invented and developed a new product for hunters. The quote that hit me like a freight train was: “By time it was all said and done I had around $90,000 in the (plastics) mold.” A chill went down my spine.  I could see this poor guys future.  To ad “salt to the wound”, the magazine got the guys web site wrong.

Checking out his web site, the product (as demonstrated by the inventor on video) seemed difficult and clumsy. It really wasn’t, but the inventor was so impressed with all the product features he thought were important, he forgot what was important to the consumer… “What can it do for me?” Then I saw the packaging… A simple cardboard box with green and yellow markings. The pricing point was $24.95.

My first inclination was to send him a copy of my book, Invent-onomics 101, and beg him to read it. But after seeing his web site (very nice and expensive), I realized he was already well down a path that had a high percentage of ending in heartache.

Where to start: 1) The market size for a product like this is about 5,000 to 10,000 units tops, assuming you get it into the large retailers. 2) The Chinese would have made the same tool for about $15,000 and reduced his per unit cost by up to 60%. 3) His pricing point ($24.95) is too high… his retail competition is less than $10.00 and could be done easily for free.  4) His packaging hides the product and is too easy to rip open on the retail shelves. People won’t buy a new product unless they can see it and the retailers won’t replace the “ripped packaging” product on the shelves until it sold off… Etc., Etc.

The bottom line: Most of us only have one shot at this… Before you start spending your life’s savings, read a book, ask somebody in the industry, work in the industry to see what’s required to actually sell the product… Look at the market and see if it can support your cost structure.

I hope I’m wrong and this guy’s a huge success… But this isn’t my “first rodeo.”  I’ve seen too many people think “if I build it, they will come.” History shows that 99.9% of the time, they don’t. Do your homework first to avoid blowing your shot at success.

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