Business Partner Needed!

Suicidal Inventor · 02-07-2009, 08:56 PM

I have successfully licensed novelty products I have invented/designed to national distributors. Recently, I believed in a $3 novelty product I created so much that I manufactured 5,000 of them. I put up a small e-commerce web site. No traffic. Did not actively promote it with SEOs etc. - found it too time consuming and confusing.

So, today I have been going in circles trying to find a partner who can promote this product and share in the profits! Ideally, I would like to work with someone who can generate traffic from a youtube.com video I am filming tonight AND market product in other venues.

I have been placing my energies into licensing the manufactured product to existing companies who have similar product lines. Many brick walls, but still slinging my sledghammer.

As an added incentive to anyone reading this verbose post, I have additional products that I have developed/am developing in which we could share profits too!

I do not need advice from professionals whose business it is to promote their business of how to market your business. Don't bother contacting me. I have been in that loop before and that has created my suicidal tendencies. BUT, I am open to advice from anyone who can point me in the right direction as to how to find a business partner - preferably in New York City. Is that you! Please respond, or I'm going to get out the razor - and it won't be electric. Thanks!

Peter.j.bea · 02-07-2009, 10:52 PM

What is the function of the product, what markets does it cater to, household income brackets, market segments etc. Does it apply to any stake markets? Have you made attempt to contact target and other generalized department stores?

I wouldn't advise to find partners online. Although it may be good for people to blog and "network" on a cyber level, I dont know that you can find a valid network contact that would truly make the impact you desire.

I would recommend this however; post some ads on criaigslist, look for some contract workers, freelancers etc. What you TRULY need is a salesmen. The only "marketers" you will find online or in forums are those that deal in search engine optimization etc.

I would advise looking for someone with background or interest in viral marketing, social networking and intermediate graphic design background. Possibly a college student. Avoid the self proclaimed business mentors who advise you to "follow your dream", "give it your all" or my personal favorite "do what you love".

And if you DO come across someone you think MIGHT be interested in working for you or with you, take the time to read into their posts, blogs and business background. Dont be shy to ask for a resume or references either. This is a job offer, dont be mistaken of that.

You are NOT a web based business. You are a creative mind with a physical manufactured product. Dont let those with no knowledge of what you need, tell you what to do... Including myself lol!

Good luck to you just the same!

Suicidal Inventor · 02-08-2009, 03:52 PM

You're right on target with my marketing dilemma!
Sifting through all the SEO marketers and other people who want me to "love what I'm doing" is so ____ed time-consuming - plus I feel as if I'm going in circles.

I posted and ad on Craig's list in NYC. Looking around at getafreelancer.com, but do not want to pay anyone - want to split profits from sales of product on web site.

Am looking into affiliate marketing and drop shipping. Want company who markets novelty products with an affiliate program AND want to get product into reputable dropshipper's product line.

All seems as if I'm barking up the wrong tree. It's only one little product - which has always been my downfall. Reps and national distributors want a "full line" of products and don't want to be bothered with a low-cost single product. I've been through the mill on that one.

I've tried to get it added to manufacturers' product lines - those with similar novelty products. No bites.

I've tried to get in the back door at Barnes & Noble for their college bookstores. One major novelty manufacturer and distributor said they had would show product to person who knew B&N's college product buyer. But, later they said they were too busy and call next month. I could contact them directly, but I have been ripped off too many times with products when I go in as an independent product developer. Have found that going in with an introduction through the back door that companies are less likely to rip product concept.

I DO have a licensor who is interested in licensing the product. I have worked with them before. But, I would only get 8% of sales. I have 15,000 product cards ($.04 each) and only 700 product (that is slipped onto product card) and would have to bite the bullet and trash them. I can choose this option, if I HAVE to, but would like to make certain that I have checked out all options to get the product to market on my own. I could make $1.00 per item, but it's only worth my while if many are sold.

So, that's the info. Too verbose, I know. With all that said, here's a link to my product. (Never mind, this site won't let me post an URL. So, if you Google, "Writer's Block Pencil", it will come up.)

Any further comments you would care to share would be greatly appreciated. I'm all alone here and can't seem to figure out how to market this product. My neighborhood stationery store sold out 24 pieces in one week during Christmas holiday. It was not really a novelty gift store and they didn't think it would sell. Turns out it did! I knew it would! They were surprised and ordered more. See what I mean? I know it will sell if it gets into the view of the end buyer.

Phew! Okay, I'm done.

Thanks for reading!

VCNetwork · 02-08-2009, 03:58 PM

Start networking! You might check out the link in my sig. if you do register for my site feel free to plug away in the forum and on your profile, thats what were here for. Just don't spam individuals. Also if you have media to represent your work, like the youtube video your making tonight I will consider making your our featured member next week. You'll be on the front page for a week and get a ton of views. Thanks

jayer · 02-08-2009, 05:22 PM

I have ideas... message me.

Suicidal Inventor · 02-08-2009, 06:11 PM

Jayer,
There is no option to send you an e-mail on the site. Perhaps I don't see it, but I would like to contact you. Any suggestions?

unlimited22 · 02-11-2009, 08:09 PM

Outsource. Outsource. Outsource. Try scriptlance.com or elance. Hire someone else to just do the marketing. Stick to what you do best. Invent.

jayer · 02-12-2009, 08:39 AM

If you are looking for a distributor, I might suggest the AmericasMart Gift Show in Atlanta

http://www.americasmart.com/markets/giftrug/july2009/

There are about 3 skyscrapers full of exhibitors. I'm sure someone there distributes novelty products if not multiple people. Granted it may not be worth your money and effort to fly or drive there, but I guess if you have more ideas in the pipeline then it should. Just thought I would make the suggestion.

Moneymaka · 02-12-2009, 02:40 PM

Quote:

Originally Posted by Suicidal Inventor

Jayer,
There is no option to send you an e-mail on the site. Perhaps I don't see it, but I would like to contact you. Any suggestions?

Click on his username and select the option to send a message

jayer · 02-12-2009, 02:42 PM

We have already been in contact. I was unable to help the way I thought I could originally. When SI said licensed, I thought it was like collegiate licenses. So in conclusion, SI is still looking for the answer to the question.

outsourcery · 02-12-2009, 06:13 PM

Quote:

Originally Posted by Peter.j.bea

What is the function of the product, what markets does it cater to, household income brackets, market segments etc. Does it apply to any stake markets? Have you made attempt to contact target and other generalized department stores?

I wouldn't advise to find partners online. Although it may be good for people to blog and "network" on a cyber level, I dont know that you can find a valid network contact that would truly make the impact you desire.

I would recommend this however; post some ads on criaigslist, look for some contract workers, freelancers etc. What you TRULY need is a salesmen. The only "marketers" you will find online or in forums are those that deal in search engine optimization etc.

I would advise looking for someone with background or interest in viral marketing, social networking and intermediate graphic design background. Possibly a college student. Avoid the self proclaimed business mentors who advise you to "follow your dream", "give it your all" or my personal favorite "do what you love".

And if you DO come across someone you think MIGHT be interested in working for you or with you, take the time to read into their posts, blogs and business background. Dont be shy to ask for a resume or references either. This is a job offer, dont be mistaken of that.

You are NOT a web based business. You are a creative mind with a physical manufactured product. Dont let those with no knowledge of what you need, tell you what to do... Including myself lol!

Good luck to you just the same!

Great post Peter! I really enjoyed that

SI, it sounds to me that you need to firm up your direction. Do you want to distribute it or sell it directly? Pick one, and be focussed about your efforts.

I'm not an expert on distribution, but I have done a lot of small business sales... and the one thing I found is that even with a good product small business (to business) sales aren't FAST. It takes a lot of sweat and tears, and a whole lot of rejection. You need to build organically if you're going to do this, then once you've sold a few thousand units, get some testimonials, hire a freelancer designer and put together a marketing pack.

Then use this to approach distributors. You're already successful in their eyes then, so you're doing them the favour, not the other way around. If you can land one small distributor, use this as leverage to get others on board. Personally I would forget about B&N for now, and just focus on the little guys.

One thing I found very useful for b2b sales was squeezing happy customers for referrals. Opening a conversation with a business owner with 'I was talkin with sally, she said I just had to talk to you..." will increase your success rate tremendously.

I dont have much experience with product sales, but I don't think the fast track you're looking for exists (at least, theres a low probability of being the next furby).

Also, have you considered just dumping them on amazon, ebay etc?