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.

In the old days, of not so long ago marketing meant radio, TV and newspapers and all still have a very valid aspect for companies. With the advent of social media and people using it, there are other options to use or in combination with TV, radio and newspapers. Remember try for consistency on all channels. Your company has to go where the people are and social member is expected. Whether it is Facebook, twitter, or many other names. You need to figure out for your product which is the best one. The key is to update the sites once they have are up and running in order to attract even more readers. It is great if you can find a celebrity to endorse your product, and it should be a celebrity which will help sales of your product; not a celebrity whom you happen to like.

Your product is selling, your great idea has become a successful product and you have learned many new things. This is really just the beginning, you need to come up with more products and some will be natural add-ons or extension of the product. You had one idea of what your product will be used for, consumers often have a different idea. Your contact through social media will tell you what uses your customers use the product for. Remember all products go through the same process, it should be easier for you the second and third and fourth and fifth time around. Use common sense to create add-ons and extensions because there is a need and you are supply a solution to it. You should feel good about going from idea to production to sales.

Linking to dividend paying stocks,it is possible to learn how to do the whole process by doing it and growing a business. It is much easier to concentrate on one part of the business and invest in companies who have good people doing the whole process. The elements of business do not change – there still needs a product or service that is valued by customers, who are willing to pay at margins to be profitable. When the context of business there are many ways to have an edge over your competition, the greater the edge the more the profit, the more profit the more willing investors who will be patient to accept their dividends and capital gains. Use Ms. Grenier’s book as a helpful tool to understand, because the more knowledge you have the less you should lose.

There are more questions than answers, till the next time – to raising questions