Top Dogs Best Invention/Business Advice
Having a new invention or business is like having a puppy; you want to show it but at the same time protect it. It keeps you up at night, and cost way more than you thought it would, but we do love our new pal, we just wish someone could give us some advice to help us through the beginning stages. CleanyBeany is my new puppy. Being a mom of four, my hands are quite full and I need all the help and advice I can get. Recently I have had the privilege of being one of the winners of Whirlpool’s Mother of Invention Contest. There I met great experts and other inventors and entrepreneurs. I have asked some of these people, and other smart inventors, clever business start ups and savvy business people for their best advice. Here’s what they had to say:
Lay a good foundation in the beginning so your business can grow. If you create good systems for accounting, advertising, inventory and customer relations then you will be ready when your business takes off. You have to run on the assumption that you will succeed before you actually do. Most people will be skeptical of you and your business so you need to believe before anyone else does. If you need support talk to other entrepreneurs they know what you are going through.
Michael Gravlin, Chicago, IL
http://www.gravlinlaw.com
My advice to new business owners is not to overlook the power of a website. I’ve talked with many business owners who spend thousands of dollars a year of advertising and get little to no results from those ads. Unlike those ads that only run at certain times, a website is available for the world to view 24/6, 365 days a year. A website is also easier, cheaper and quicker to update than print material. Check out out blog for other website tip: GR Web Designs Blog
Casey Henry - Grand Rapids, MI
Holland Website Design Service
Now in business for almost 13 years, I thought my husband and his partner were crazy for starting a company that builds tricycles for adults! But, now business is booming and we sell our TerraTrikes all over the world! Here is my best advice to you:
1.) Like Casey stated above, websites are a great tool—use them to your advantage! When you want info on anything, that’s the first place most people go. That’s how we sell most of our products!
2.) Remember that in order to make money, you need to spend money. It may be difficult, but even if it’s a little bit, you need to make that investment.
3.) When Cleany Beany gets big enough to need help, surround yourself with good people. Use your own resources, networking and contacts to start, and try to get people with different background knowledge.
4.) Most importantly, work hard, believe in yourself, and HAVE FUN–you’ll be more successful than you know!
Lori Wiswell, Grand Rapids, MI
http://www.terratrike.com
What I love about your experience, Erika, is that it so aptly demonstrates the importance of a business plan–first and foremost, for the business owner herself, and, secondly, for the potential stakeholders in the business. Although it’s true that you can find successful business owners who never wrote a business plan, as well as successful business plan writers who never actually started their business, I think the marriage of initiative (to start a business) and investigation (to research the business idea, climate, competition, and customers in order to write the plan), is the best formula for success. There are tons of resources to help entrepreneurs get started: online, in books, and in person. If you run across anyone who needs help writing a business plan, be sure to send them our way! www.growbusiness.org or (616) 458-3404). Good luck with everything!
Denise Miller, Program Director
Grand Rapids Opportunities for Women (GROW)
25 Sheldon SE, Suite 210
Grand Rapids, MI 49503
PH 616.458.3404
FX 616.458.6557
www.GROWbusiness.org
Erika, the one *break* an entrepreneur needs may come from the most unlikely places so to be prepared every small business owner should have a scripted and rehearsed *elevator speech*. The idea is this: Imagine you’ve just gotten on an elevator on the first floor of a building. In walks the best potential client you could ever run into and she presses the button for the 12th floor. Out of the clear blue, she asks you, “So, what do you do?” You have the ride from the first floor to the 12th –or about 30 seconds—to answer the question.
Rob Steketee, Program & Special Projects Manager GROW
Grand Rapids Opportunities for Women (GROW)
25 Sheldon SE, Suite 210
Grand Rapids, MI 49503
PH 616.458.3404
FX 616.458.6555
If you are looking for recommendation on how to bring a product to market the most important part is sales and distribution. Basically, what do you do with the product once you have it. I have worked with countless entrepreneurs and the number one failure is not having a way to distribute the product that they are so passionate about. It is easy to design and develop a concept and have it manufactured, but without a way to get it to the mass market it is only a good idea. Selling the idea or licensing it to a big company is usually the best choice. Manufacturing it yourself can be costly and extremely difficult, leave that to the experts.
Mike Johnson, Holland MI
www.Imerssi.com
Tags: business, dog, entrepreneur, expert, Invent, mom, whirlpool
October 27th, 2008 at 1:15 pm
Great start! I saw that you had a chance to talk to Rita G. at the luncheon last week–was she helpful? She has been through the same process, so she might have some insight. Also, that angel investor lead that didn’t pan out because he left the state, suggested that you talk to The Right Place. I have a contact there that I’d be willing to share with you in a not-so-public arena (i.e., I can email it to you!). She has a lot of connections and knows a lot of resources in town, so…who knows? Maybe that line of inquiry will turn something up. What’s the latest word on the prototype with the light?
October 27th, 2008 at 7:52 pm
As a pet owner and also one who lives in a community that has a lot of dogs, I believe that this has been needed for a long time. Most dog owners are responsible people, who given the chance, would want to do the right thing. The cleany beany makes it easy. Where can I buy one?
October 27th, 2008 at 8:27 pm
Thank you for your interest in cleanybeany. It’s in a refinement stage and I will blog or email you when we are ready for market!
October 28th, 2008 at 12:21 pm
My advice to new business owners is not to overlook the power of a website. I’ve talked with many business owners who spend thousands of dollars a year of advertising and get little to no results from those ads. Unlike those ads that only run at certain times, a website is available for the world to view 24/6, 365 days a year. A website is also easier, cheaper and quicker to update than print material.
October 28th, 2008 at 1:54 pm
Now in business for almost 13 years, I thought my husband and his partner were crazy for starting a company that builds tricycles for adults! But, now business is booming and we sell our TerraTrikes all over the world! Here is my best advice to you:
1.) Like Casey stated above, websites are a great tool—use them to your advantage! When you want info on anything, that’s the first place most people go. That’s how we sell most of our products!
2.) Remember that in order to make money, you need to spend money. It may be difficult, but even if it’s a little bit, you need to make that investment.
3.) When Cleany Beany gets big enough to need help, surround yourself with good people. Use your own resources, networking and contacts to start, and try to get people with different background knowledge.
4.) Most importantly, work hard, believe in yourself, and HAVE FUN–you’ll be more successful than you know!
October 29th, 2008 at 9:06 am
The advice here is so true!!!!! It doesn’t matter what industry you are in or trying to crack into. I just talked to someone who wants to publish a childrens book. Same advice applies; believe in your success, get a website, this will cost you some money.
October 29th, 2008 at 3:58 pm
Denise,
The business plan advice is right on. Writing a biz plan helped me have more confidence in my idea. It also helped me determine whether I had a business possibility or just a fantasy. After taking the Business Plan Bootcamp, by GROW I was able to “look at the numbers” and see that I really had a good business opportunity. GROW Rocks!
October 29th, 2008 at 4:19 pm
Rob,
I need to work on my elevator speech. It’s so true you have to be ready. I get asked quite often, so I have learned to “get to the point!” really quickly. While at the GROW fundraiser I was sitting at a table where this lovely woman turned to me and said “what did you invent?” I told her and she gave me her card and said that her daughter-in-law works for Petsmart (corporate). Even though my elevator pitch wasn’t perfect, it worked! I still could use some Lunch with Punch sessions. Thanks for the advice!
October 29th, 2008 at 7:42 pm
I’m looking at a business. Wow, Michael Gravlin’s advice. It inspires me.
October 29th, 2008 at 7:44 pm
qw4tq357
October 31st, 2008 at 12:42 pm
Erika-
Congratulations! As your business grows, you may want to take advantage of the tax benefits of a retirement plan for your employees. (Disclosure — I am not in the business of selling these plans to small employers).
Love the Website! Don’t be a meanie~!
Good luck, Jim
October 31st, 2008 at 1:33 pm
Thanks Mr. Anderson!!!! I will look into an extensive retirement package for my huge staff:)
Thanks for posting!
Erika