Opera News

Opera News App

How to Build a Quick and Profitable Product

PATRICKHE
By PATRICKHE | self meida writer
Published 7 days ago - 0 views

How to Build a Quick and Profitable Product

Did you get a chance to watch the TV show Pitchmen on The Discovery Channel before it was cancelled? If not, maybe you can find episodes on the Internet. I suggest you watch a few shows because it will make you feel so very good about what you’re about to discover in the book you’re holding.

You probably have seen Billy pitch stuff like cleaners and gadgets on television for years. He was very entertaining and sold a ton. 

Though the show was entertaining, it was also sad in a way. Here’s how a typical segment of the show worked:

An inventor whom we’ll call Gus worked for years designing a new-and improved gizmo like a cup holder for the car or perhaps a pocket fishing rod. He sank his lifesavings into designing the product and having it manufactured. Now pallet after pallet of them sits in a warehouse. It seems that his own version of Uncle Moe had plenty of advice on how to sell them but nothing worked.

Through hit and miss, Gus became aware of the Pitchmen show and he wrangled an appointment. He got to stand at one end of a conference table while he demonstrated his cup holder to Billy and Sully for perhaps 60 seconds. The guys asked two or three questions and formulated an instant impression of the product. 

In the vast majority of cases both Billy and Sully looked at each other—then, as politely as they could, they thanked Gus for his interesting product and ushered him out of the room. Another inventor’s dreams dashed. In a handful of cases Billy and Sully took on the new product and cut a deal where they financed the next phase in exchange for a very healthy cut of the profits.

The next phase involved making sure the product didn’t infringe on someone else’s trademark or patent, and they reviewed how easily and cheaply it could be mass-produced. Finally, they made a test commercial and ran it in several markets. 

The cost of this next phase was always in the five figures and sometimes into six figures. Judging from comments on the show only a fraction of those product candidates ever broke even, never mind making a substantial profit. 

I found the process sad because the odds were so stacked against these people making it to the Big Time. They usually mortgaged their houses and sank their lifesavings into the project, in most cases only to be rejected by Billy and Sully. Even when they made it to the final test round, their chances of breaking even were slim and the chances of realizing their dreams and making a fortune seemed to be about as likely as winning the lottery. 

From Opera

The views expressed in this article are the writer's, they do not reflect the views of Opera News. Please report any fake news or defamatory statements to [email protected]

Content created and supplied by: PATRICKHE (via Opera News )

Tags:      

Billy Gus Pitchmen Uncle Moe
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform

YOU MAY LIKE

Hleziphi from Uzalo. All there is to know about Sibongiseni Shezi's profile

3 hours ago

9 🔥

Hleziphi from Uzalo. All there is to know about Sibongiseni Shezi's profile

2 Natural Materials That Can Be Used As Component Of Fertilizers in your Garden

3 hours ago

4 🔥

2 Natural Materials That Can Be Used As Component Of Fertilizers in your Garden

He found out that his GF had a BF on twitter in the most savage way

3 hours ago

21 🔥

He found out that his GF had a BF on twitter in the most savage way

Do This If You Want God To ReveAl Hidden Secrets And Enemies To You.

4 hours ago

11 🔥

Do This If You Want God To ReveAl Hidden Secrets And Enemies To You.

If I get Hijacked by a Foreigner, I won't Blame all Foreigners For it, Only that Person - White Man

4 hours ago

73 🔥

If I get Hijacked by a Foreigner, I won't Blame all Foreigners For it, Only that Person - White Man

See How You Can Identify This Plant Problem In Your Garden On Time

4 hours ago

2 🔥

See How You Can Identify This Plant Problem In Your Garden On Time

4 kinds of biblical love in Greeks : You'll be speechless

4 hours ago

1 🔥

4 kinds of biblical love in Greeks : You'll be speechless

OPINION: How To Get Rid Of Negative Energy

4 hours ago

18 🔥

OPINION: How To Get Rid Of Negative Energy

Look What This Man Was Seen Doing At The Back Of The Bakkie

4 hours ago

12 🔥

Look What This Man Was Seen Doing At The Back Of The Bakkie

Ramaphosa shares good news to all unemployed citizens

4 hours ago

246 🔥

Ramaphosa shares good news to all unemployed citizens

COMMENTS