Latest / Pitch to Product / The Reality of Bringing Products to Life
Transcript
- speaker-1: Hey, everybody. Welcome to the Pitch to Product podcast here at 52Launch. I'm Dan Gagne. To my right, I'm joined by Bobby Quintero. speaker-0: I see your idea consultant. I love that title. I spent 23 years, actually 30 years working with inventions, 23 years running the Manhattan office for InventHelp. Very glad to be here because I get to manufacture products, which I'm looking to do. speaker-1: The exciting part of bringing Bobby on board is he does come with a great deal of experience as an idea consultant, been working for a company that we don't call competitors. There are another company out there that's in the invention help space. Most of you know who they are, InventHelp. Again, Bobby had worked at InventHelp for 23 years, working with some great clients. Today's podcast is gonna be really about... The differences between a company like InventHelp and 52Launch, again, not really competitors. We do different things in this space. So I wanted to introduce Bobby. one of the questions I wanted to ask is, Bobby, why did you leave InventHelp after 23 years? That's a long career. speaker-0: Third of my life would invent help running the Manhattan office. Let me start by saying this is not to bash invent help. This is to explain the differences solely from a manufacturer, which is 52 Launch, to a company that all they do is present you to companies for trying to get a license. I came here because we can actually produce the product for a client. I've worked with clients forever where they had the idea we'd get them a cheap patent, we could get them the drafts and everything else, but. The goal is to get a company hopefully take their product on I want to work with entrepreneurs I want to be able to create their product from the beginning the sketches to the drafts to the social media to the website to having the product handed to where now they're actually selling the product I want it from from beginning to end that's never I'm smiling right now Just thinking of it because I couldn't do that forever and this is where it you happy because I came from manufacturing Yeah, so I understand it and and and this is if you want us for a long time. I've worked in this If you want to work with a company man that could really sit with you and go through your idea and talk to you straight, ⁓ my God, I'm so happy to be able to do that. No holding back. This is beautiful. speaker-1: And again, it's important and we've mentioned this in many of our podcasts prior to this ⁓ Invent help we've always said nothing but great things. I mean they've actually sent us clients ⁓ To finish up the process as Bobby said there, you know, again the big difference today is to talk about we're not for everybody and Invent help is not for anybody and future podcasts will be about other companies that are in our space will explain the difference between the two and you guys out there have Every opportunity to do your due diligence on all of these. I'm just again, we are just trying to explain that ⁓ we do things differently and that is what our value proposition is. That's why we're different than every other company. We have built a niche where we want to take a design all the way from conception to revenue. That's the only way that we know how to be successful. ⁓ We don't want to rely on other companies. to do other components, which is why we've built a team now. I know you've heard many podcasts, you know, we used to be 20 people now and then 40. Well, we're now up to 65 people at the company. Probably by the end of the year, we'll exceed 100 people at the company. Again, because we're busy, because we do things differently, we have happy clients. Again, that is another challenge. I'm sure Bobby will explain to you. InventHelp knows what they know. And that is... They want to get a patent file for you. That's a good value proposition. They also want to expose you to other companies that might be interested in taking your product on, on a licensing deal. The challenge with that, and back in the 80s, that was a big thing, and Ventel was the preeminent invention company in the world at that time. in the Yeah, George Foreman. George Foreman's role. speaker-0: George Foreman, no one better. speaker-1: The challenge is that that might be the only product that everybody knows about affiliates that would invent help. It's very difficult to get a licensing deal. If it weren't difficult, we'd be in that business. Trust me. ⁓ We've decided to be in a business where we can actually, there's a strong likelihood that our clients will get their money back and make money because that's how this all works. You know, everybody knows that 52 launches a manufacturer. So we want to manufacture products. We can't manufacture products if we can't make if we can't sell them. So we want to help sell the product. And again, that's I think the excitement that Bobby had when we were introduced to each other was that he always felt like he was leaving his clients short of their destination. And once he realized, oh, you can actually manufacture and help market the product. And it was a very easy decision for buy. That way he gets, you get satisfied clients. speaker-0: I even told you on the first conversation, how did I not know of you guys? It's because it's not the same field. You guys are manufacturers that are start from beginning. It's a difference from, yeah, I could draw your product, I can do this, I could do your patent, but now we're going to go present it to companies. Well, they'll take over from there. This is for actual entrepreneurs, real people that want to make the product, real people that want to run their companies, real people that want to sell their products. This is their dream. This is their baby. Our jobs is make it functional, reality, and more importantly, with margins. If you don't talk margins, you're not talking price, you're not talking anything. We're not here to fail. We're here to sell a product because it helps us. Us. Us. Thank you. Us. We're manufacturers. That's what I'm happy about. speaker-1: So what would you say the biggest difference that you feel in talking to your previous clients? And you've had a few weeks now to talk to clients on this side. What do you think that they're, how are they gonna be happier with 52? Now keep in mind, your clients, they already understand they want a licensing deal, right? So they're not gonna be involved in the manufacturing process. They just want someone to say, hey, I like that idea. Give me a royalty deal on that. speaker-0: I'm a manufacturer. You show me a product. I like your idea. Now they have to go out and design it. Look at it. Price it out. They do everything else and then they come back to you with a deal. Here's what we're willing to offer you. ⁓ speaker-1: How often did people get licensing deals at Inventel? If you've been there 23 years. speaker-0: I say listen, I won't lie they do get license deals last time It was one out of every 25 got a license deal But whatever happens after that we don't know who makes profit off of that It's a small number very small number because it has to go through the whole process and then you have to make back what you put in Right in this case is so different. Yeah, it is night and day ⁓ You control your destiny with your product because this is your business Our job is to give you a fully functional sellable product to sell to your market ⁓ where you have passion, you're talking to a team, you're not talking just to me and then you're handed off. You're talking to designers, you're talking to graphic artists, you're looking at molds, you're looking at every piece of this product and you have to make decisions with the team on your product, which is so fulfilling, it is so fulfilling. That you don't have anywhere else, unless you're running your own business and people that run their own business actually understand that, because they have to go through every segment of it. speaker-1: Right. And again, we've said this in many podcasts prior or previously, the person that puts in the money ends up controlling the product or controls the future of the company. ⁓ Again, I would want to bet on myself. ⁓ I would think that an entrepreneur would want to bet on themselves to be successful. In a licensing deal, you're getting a small, tiny little percentage. ⁓ And if it doesn't go so well, the product doesn't take off for whatever reason, if their marketing is not done correctly, ⁓ then it gets flushed down the toilet and you've lost your idea. again, We're not for everybody. Again, we're here to explain that if you want a good company to call for a licensing deal, go to InventHelp. Again, with the caveat that not, Bobby's being very nice here, one out of 25, their website says that 3 % of the people that hire InventHelp get a licensing deal. Is that not right? speaker-0: One million excuses. You can have a million excuses once it's out your hand. speaker-1: And then it's 1 % I think, says it right on the, it reads it right on their website. 1 % get their money back. it literally, you know, that's a situation where you're literally crossing your fingers and hoping that something successful happens. Again, very reputable company, been around a long time. ⁓ Bobby wouldn't have worked there for 23 years if he didn't feel like it was a great company. Again, the difference is if you want to actually take a product to market and own that product and have a nice residual income coming in. speaker-0: Yes, and then a little higher get percentage, very little make right speaker-1: then definitely 52 is an option for you. speaker-0: Working with inventors and entrepreneurs is a very personal, very personal, you're dealing with their idea and their dreams to try to bring it to reality. A lot of ways around there that it could go sideways. You have to be able to sit and try to control your product and here you can, which I love that part about it. Every part is in your hands from who you're talking to, what we're doing, let's go over designs, let's go over weight. From a manufacturing point. speaker-1: Yeah, we haven't stopped smiling this whole time. ⁓ man. That's awesome. So we went over the, you know, how your customer would, your previous customer would feel at 52 launch. I mean, there is some consultation that we, you know, we do convert some people over who say, I just want a license to Dell. I don't want to do all the work associated with it. I don't want to spend any money. And again, we will, we'll talk to you. Obviously we'll, we'll tell you our opinion. speaker-0: You never really understand how important that is to you get into it. Because you're, I love it. It's beautiful. and I'm enjoying it. speaker-1: ⁓ Again, we don't take products on that we don't feel we're successful. We also don't take entrepreneurs on that we don't think are going to be successful because they don't have that it factor, which means they've got to go out and also help us work their product. We are not for everybody, but we are for those that really want to bring a product to market and own their own business. speaker-0: also won't take a product on that we can't do. Realistic. The product has to be something sellable because we're manufacturers and we want to keep manufacturing. speaker-1: Right. Right. And again, InventHelp has the luxury of taking everything on because they're not manufacturing it. And really, at the end of the day, I think they care if you're successful because it helps their brand and they do profit from it. they make their money upfront more so than they make it on the back end. We make our money on the back end because we're manufacturers. Huge difference. Huge difference. Again, not everybody wants to play in our space because it is hard. Yes, it's not easy at all having everything under one roof Is chaos and if you're an entrepreneur you already are smiling chaos is what we're all about It's how you manage the chaos That you know Allows us to be successful to our clients speaker-0: Also, number of clients. The funnel for us is way different than everybody. Our funnel is big difference. You could come in, we're still shifting off to what we can work, who we can work with, make sure everything is profitable, make sure we know what the product has to be done, pricing and stuff is totally different than just, all right, let's put this. speaker-1: Develop the value propositions and making sure that the product speaker-0: We're trademarks, we're websites, we're talking design, we're talking stuff that I haven't said in years. I'm so happy. speaker-1: How long have you been here? speaker-0: Two weeks? Yeah, two weeks. speaker-1: Two weeks, it's awesome that you're still smiling and excited. So ⁓ one of the questions is, what one thing you wish every inventor understood? If there was one thing you could tell an inventor or an entrepreneur, ⁓ what would that be? speaker-0: Your idea is a business. It is a business. You have to treat it as a business. ⁓ Parts of it you have to understand. Parts have to be done. This is not just a dream handed off to someone. It is a business. You will put work into this product. We will work with you in this product, but you have to understand it's a business. Most people that own their own business understand this part. You know that that you have to take care of everything with us. It's it has to start from wire Let's get this the nitty-gritty to it has to be ironed out because later on when it comes of reduction that one little screw could cost us a Ton of work. Let's fix it now. Let's get it done now and let's go over it now speaker-1: That's a good answer. This is a journey. This is not something that happens overnight. And I've said it a thousand times. If what we're telling you is as easy as it seems, there wouldn't be a single person that worked for a company. Everybody worked for themselves, right? It's hard and it's a journey. And it's like any cliche or any athlete will tell you, You know, like Michael Jordan, I failed more than I've succeeded, which means that he's missed way more shots than he's made. ⁓ If you're batting 300 in baseball, that means that you've succeeded three out of 10 times. Most people would say, well, you failed seven out of 10. Same thing being an entrepreneur. If you're not failing, you're not learning anything. And we are proof of that here. ⁓ I've been self-employed for 30 years, had a very successful company. prior to launching 52Launch with Peter, but I was a one man paper hanger. I I owned a successful company. I earned a good salary, but I wasn't building anything. ⁓ If I got in a car accident, things were gonna be, it would be a problem for my family, because I ran the business and I was in the business, not working on the business. that, ⁓ my life changed completely 10 years ago when we founded 52Launch. We had the mentality of, if we're going to start talking to people about entrepreneurialism, we're going to talk to people about product invention. We had to live that. ⁓ I shut down my big office ⁓ and Pete and I moved into the basement of a nice building, but we were in the basement with no windows, no air conditioning and literally no heat. We didn't know that when we took it, but that's how we started because we wanted to feel like we were that gritty startup. so we could feel the pain. I didn't need to, I'd already been successful and didn't need to do that, but I wanted to get back to that feeling of what it's like to have pressure on you every day. The difference is that Pete and I did it ourselves. The people that come to work with us at 52 Lunge to develop their product, they have all of us. They have a team of 65 people. They're not doing it alone. The exciting part is that we're taking all the mistakes that we made growing this business, which by the way is 10 years in the making. If you told me 10 years ago that we would have this podcast situation and we'd have how many people watching this today? Six million, I wish. But I would say no way. But again, I wouldn't think that we would have 65 employees either. But again, it's infectious. Everybody that works at 52 Launch, they're team members, they're not employees. wrong word, we're all equal in our part to make sure that we help our clients become successful. It's all everybody or anybody cares about in our company and they like doing it. That's the most important thing. We love being in this space. again, I'm sitting on a soapbox here telling you all about 52 Launch. I'm very proud of what we do here. But again, this podcast was more about giving you the difference between what ⁓ other companies do specifically in Ventel and what we do at 52. speaker-0: I'd like to give my history also because I'm a diner sir and dinosaur in this field more or less started back in the 90s doing products for home shopping QVC I was a schlepper doing trade shows finding product to sell to the networks a lot of trades in fact I met my wife at a trade show I'm a traditional animal had my own silver company manufacturing things happen like business goes up and down it's when you're a one-man operation Me and my wife ran a business, doing silver business, selling products till the Chinese came in, bought up the silver market. Things happen, you switch on, you keep moving, but you can't get scared of failing, because if you don't, first off, you learn. You learn more ever by failing and trying and going forward, but you can't stop. You have to move forward, especially if you have this dream. It's your dream. We have to move it forward. Now let's start it from the beginning and take all those phases we've done and learn so we don't make those same mistakes and continue properly. That's what I like about here. I'm smiling because I've been sitting in office by myself. I'm sitting with a team of 60 people. I get to sit with a designer today. I'm looking at a shoot 21 product. I'm sitting with these things that I never get to see at the finished model. And now they're doing what, an event tonight? Shoot a commercial for a product? Come on, that's beautiful, guys. I'll have you there. speaker-1: Yeah, exactly tonight. Yeah, that's awesome. Bring this back to ⁓ the beginning. 52 launch noted well, Pete and I was rephrased that Pete and I noticed that the very onset of developing 52 launched is that we're both inventors. ⁓ Pete is more of a marketer. I invented a few products in the past that were very successful. And there really wasn't a company in this space that did. what we thought we could do. I have a manufacturing background, Pete had a marketing background, and it just seemed to make sense that there were companies that just didn't do that. And there were design firms that did design work, there are companies like InventHelp that did licensing deals, there are companies out there that do marketing only, and we felt like if we could bring it all into one roof, that would be our value proposition. And again, every product has to have a great value prop. And again, that was ours. again, surprising that no one else had really done that. And it's not that they hadn't thought of it. That's not an ingenious idea. But the difference is that they didn't want to do the work. It's a lot of work to do all that. And our butts are on the line all the time when you're dealing with all of those components. But we felt like that we were Again, Pete and I, extremely high integrity people. We felt like that was something that we could pull off. And look at, we are a way better company today than we were 10 years ago. I'm sure our clients were frustrated 10 years ago because we were just starting out like any other startup would have. But we have mastered that. We're going to get better tomorrow than we were today. And next week will be better than we were tomorrow. So we're always striving to be better, which is why we surround ourselves with really talented people. But again, getting back to the big difference, and I know this podcast was about the differences. It really just comes down to if you want to own your product, if you want to own a business that's an asset that you could sell someday, then grow. 52Launch is definitely on the table and you should definitely talk to us. If you're specifically looking for a licensing deal, Our friends over in vent help other companies and or other companies look at Bobby if we didn't like in vent health where we felt like they were our Competition, we wouldn't want Bobby here right to know our secrets, right? We don't have any secrets. It's just hard work, but we brought Bobby over because he's a high integrity guy ⁓ He wanted What we want for our clients and our he wants our client his clients to be successful Which he couldn't guarantee that ⁓ at invent help Obviously we can't guarantee it at 52 Lodge, but we can pretty come very close to guaranteeing that ⁓ you will generate revenue as long as you help us put the work in. ⁓ speaker-0: That's the important part. You will have a product that's different than anything else a dream is dream But once you have a product in your hand now if you're not enthused to go out and work it Come on. why'd you do all this for why'd we do all this for we're with you? Let's go. Let's move this thing speaker-1: Yeah. And again, it's, like having a great side hustle for those that don't want to work really, really hard. ⁓ There's income that can be made. You guys all get TikToks and Instagram posts ⁓ with people that are trying to sell you on developing a side hustle. ⁓ Usually it's something that you don't own that you're selling a service. In this particular case, it's a product. You own it. It's inventory and inventory is an asset. If you're interested in talking to us more, ⁓ you can reach out to us. Please. Yeah. And we'd love for you to follow us, like us, share us. We'd appreciate that. And I think our next episode ⁓ is going to be talking about the nasty word and the four letter word. Not that word, but it is scam. Yes. We're in the space that there are a lot of people that don't have the integrity that we have, but we do want to address that because ⁓ there's a lot of ⁓ posts that get posted that companies do this, they do that. We're very transparent. We'll speak to that in the next podcast. Thank you very much for listening or watching this podcast. Again, if you have a product idea, we'd really appreciate the opportunity to talk to you. You can reach us by clicking the link below or going to 52launch.com or ideas at 52launch.com and Bob will be certainly happy to talk to you. speaker-0: would be my pleasure. Reach out.