Dividends and Invent it! Sell it! Bank it! part 4

If you watch TV, you may have come across a show called Shark Tank, on the show people pitch their ideas of how to expand their business to 4 investors who listen to them, to see if they would invest in the business. One of the investors is Lori Greiner who specializes in products that have a mass appeal and help people’s lives, much of what is changing the attitude from why would I want it to I can not live without it. The process to have an idea and go all the way to selling it is what the book Invent It, Sell It, Bank It! by Lori Greiner, Random House, NY, 2014.

Ultimately, it is people who will make it all work. You have a great idea or invented something, as you go through the processes, people will judge you whether they want to work with and for you. If you come across as someone they do not, but do anyways when it comes to the pressure points of the business, will they go the extra mile? not usually. They will tell you the reasons why it can not be done in the time frame you are thinking of. If you had come across a person they want to do business with, when problems occur and they will occur, they will try to ensure there are no NOs, just How Can I? meet your deadlines. The time to build the relationships is before disaster happens and when disaster happens – people will work together to fit a solution to the problem. Part of the relationship building is make the people you work with feel valued and part of the team; show your appreciation for what they do and explain why something is a special request or a rush for you – understanding is a key.

Lori Greiner specializes in products that are made for the mass of people and are easily demonstrable she has great knowledge of how home shopping channels work and types of items that work better on them. You have your product made and it would work at the QVC what do you do? The selling part is the visuals – the consumer can see the physical proof it is better than the other options. The questions of its uniqueness, the need for it, good price point, market want it, affordable and manageable come into factor for those are which you will show on TV, The TV offers tremendous reach, instant sales, free marketing and advertising, free market research and instant customer feedback. There is a process to get on the air – the good news is the shopping networks need the next big thing and a good product is a good product. There is a difference between retail stores and home shopping – in retail sales packaging is going to help you sell; in home shopping packaging does little for you. When you pitch to home shopping – be passionate, show your product come to life and be appealing as hope your product will be. TV is visual which means people need to fall in love with you and your product. TV also shows if you are not sincere or you have to be genuine. The emphasis is always the product’s features and benefits. All the things you product does and why the consumer needs to have it.

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