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Should You Launch Your Product Idea: Inside the 52Launch Venture Program · Pitch to Product

• Peter Bobby 10-28-26: let's jump into two things, right? The biggest costs are going to be: okay, hey, do I need to patent this? And so you're to jump down a patent process, which is going to cost a lot of money. Yes. You're going to then probably jump to a designer that's gonna design something because you can't 3D print or prototype something without the design. So right off the bat, you're probably already at about six grand. Then you're gonna go and spend money at a prototype company or a CAD model company. Exactly. And that is going to cost you another eight to ten grand. Hey, welcome back to another episode of the Pitch the Product Podcast. I'm Peter. I'm Bobby. As always, you guys are fantastic. Today, Bobby, we are talking about the venture program that fifty two launches spent ten years developing, and we have launched it successfully this year. Yes. It's encompassing. So let's break this down so people understand what does the fifty-two launch venture program provide? I I I look at simply as if you're gonna go to a bank for a business loan, you better have business answers. And let's start with your product as a business. And and look at I'm gonna say let's back this up a little bit because before you can even talk to a bank, I think you have to see the opportunity, right? And and in order for you to see the opportunity. We can all be a little crazy. We see opportunity and it doesn't work out. I think it's more important that we talk about the opportunity among other people that we trust, friends, family. It's kind of why when you go down the investment road, they always tell you you start with your own investment, then you get friends with family, then you do a series A round. So first round, yeah. Let's let let's go with just the simple things. But we got some bullet points here. So the first one says demonstrate your business opportunity to friends, family, partners, and investors. Let me understand. What do we need to show people? Well, you have to be able to show what you have is viable. Yeah. That it not only makes sense, it has to make sense to them. If you can't sell the people around you this product, right. Are you gonna get strangers to believe in it? So go to who trusts you that knows that you might have something yeah positive. So this is again where you can simply say, and we do use AI, but we use AI with knowledge, right? It's it has to be because if you can or how many things do we see right now, Bobby, every day someone's coming in with an AI diag diagram of A great demonstration, but unrealistic execution. the things that are in there can't be made. 18 layers to make something that should be three. Right. Just for cost purposes. my. And and there's some sort of like miniature refrigerant that we have to miracle, you know, create a miracle to make. Like that's that's where you you could get into danger by showing friends and family something that is not real if they are going to help you out. So let's demonstrate the opportunity first. That's the most important part because it's gonna demonstrate how. This is gonna work, how consumers are gonna see themselves using it. And to me, that's the most important first step because if consumers not gonna buy it, I wouldn't do this. You have to show the need. Okay. Yeah. So the next one is it validates the product idea is a clear and viable it's viable to manufacture. Right. Right. Like, so that's where again, how many companies out there could possibly do that, Bobby, where they can actually Help you design, develop your idea and make it manufacturable. It it's very, it's very hard to do because if they're not a manufacturer, they could just be hoping what a manufacturer can say we can do. So if you start with a manufacturer to go back, they could backtrack and say, okay, we can do this. Here's how we can get it done. And we hear it every day. People, I I talk to manufacturers, they're they're not telling me or they're giving me prices that are too high, or it's like, you know, it's two hundred pounds. Like I get it, because the manufacturer that you're looking at has one. set of skills that they can do. They have the equipment to do a certain thing, certain thing well. Exactly. It's but imagine this having a steel fabrication shop, like a metal sheet metal fabrication shop, try and make your plastic spoon. It doesn't make sense. It it doesn't make sense. It does it is so can they make a spoon? They can make a spoon. They can make a spoon. They could make a t titanium spoon. It costs you a thousand dollars. Right. And it because they're looking for things to make They're gonna show you how to make a spoon and then you're gonna get down the process and they're gonna tell you, yeah, we can make a spoon, we can make a better spoon. And now you end up with a spoon that is something maybe NASA would use or SpaceX. Right. It's four hundred dollars for the spoon and you gotta order a hundred thousand of them. So, you know, again, let's demonstrate the the the product to an investor or friends and family, plus yourself, to say, hey. can this be made? What the concerns? And I'm not saying we have to get into deep detail. We have the knowledge here. So that's where we would put in our knowledge in this process. Right at the beginning. Yeah. the the what's the next one here? Validates that there's a market or a market willing to buy your product. Once it hits the shelves. Yeah, how important is that? If you made a product and it didn't like go. You have to look at this way. If you have to educate the market on your product. And educate the the market, explain it. It's too hard right now. You want to make it easy, especially for your first first product coming out. Unless you have major ad dollars to put behind it. So I'm gonna segue on that because today's episode is brought to us by an incredible product product. this is Health Hug. Health Hug is the first and only product that is developed for insulin and other medications that your child needs to have. Taken to school. It comes with an incredible little button here where You open it up and instantly there is an emergency action card. So that depending on the child, you have a specifically written case. This is great for schools, for sleepovers, for things that where you're putting your child and you're putting them in the hands of other people, that they can simply have the confidence to say, I can grab an EpiPen, I can grab the pills, I can grab whatever I need out of here, and I have the action plan to tell me exactly what I need to do it. It's a safe, attractive caring case that is stackable. So if you if you're in a Preschool, high school, middle school, that in the nurse's office these can be stacked up. This is the future of how we we as parents are gonna take care of our kids. That's not selling our kid that has allergies to a friend's house to a party or something with just a plastic bag with a bunch of epic pens and stuff where nobody knows how to use it or when to use it. So make it neat. Make it have a place for itself. So this is health. On that, is there did I just validate that there's a market for this? We know there's a market for this. Right. So that that's now early stage. Someone might have said, I don't know. There's a market for that. I had a friend in my son's school had a peanut allergy. Yep. Who knew? He's just in the backpack on the bottom of his backpack. There's an EpiPen or something down on the bottom. No one knows how to get to it. Let's have something specific for it. It's not all dirty. It's not messed up. It's clean storage. You know this is made for that reason. You could drop your kid off and say, here, this goes with my child. So this is a project. Again, the venture program is developed basically and thoroughly through the fact that we have Gone through this process with seven hundred and fifty people. Yes. Mm prior, you know, in the past, these people that came to us already had that validation, that confidence, and the ability to say, you know what, I am hiring you because I need you to do I need to make the product. We are now being more discovered by people who are at the early stage and are asking us, Well, how do guys know this is a good idea? unfortunately, I've been doing this too long. So I can just tell that there's an idea. What's important is that you recognize that there is opportunity here. And instead of going in full feat first, let's go break this down. Let's let's go do the venture program to say, let's get all the answers that you need so that you can confidently say, All right, I'm gonna do this, or you know what, I appreciate the time. I've I've got the information, let me go think about it, or hey, you know, I'm just gonna go enjoy my leisure activities and not start a new business right now. And all of those are acceptable. But even if even you know it's a good idea, but how do you get someone else to know this idea with facts, with stats? Yeah. information. That is not only a good idea, but it's a good business idea. Well, and so look at one of the big questions that always comes up is well, how do I protect this idea? Should I protect this idea? And is this a good idea? Right. I just answered is this a good idea by going through a process with you so we can validate it with numbers, facts, opinions. but if I took this without any diagrams and direction to a patent attorney, how how broad is that patent attorney? It's lunchbox. So i exactly. And so the the the devil's in the details, as they say. So the details should be there. We don't need to get into the the nitty gritty. A patent attorney doesn't need the nitty-gritty. They need to understand the functionality, the mechanics, so they can go do their job and effectively write a better patent and possibly even a trademark. Explain what makes your product better and different than us, because that's what you're going to be patenting. That explained that part. Look at and and mostly I'm going to say when you have those three things, I I or four things, right? We have four, four or five things that we just said. it comes down to confidence, right? Yes. This this document, this, this process, this, and it's not a document, it's a live, living, breathing webpage that basically helps you do everything that you need. It it's so something you can have on your phone to show anybody that you want in a moment's notice. You can send somebody a link. You can make it, and it is interactive so that someone wants to see the different parts that they are interested in. It actually has video from our team that actually validates what the Questions are going to be from any of these pers perspectives, right? Marketing's going to chime in and say, here's the market, here's what we're doing. production team's gonna say, here's how we're gonna make it, here's the options. Hey, maybe here's a challenge that that we need to still figure out, but that's that's coming next. It's not and that's not a problem. We just have about maybe three or four different ways that we want to consider doing it. If anybody over 40 had ever had to do a proposal, had to do a business plan, it was a binder. It was a 25 to 30 page binder that you were lugging around. And try to flip through what page where now you can have it on your phone in a proposal. You can just hit a tab, give you stats where you could adjust on the fly, but you would have to call back and forth to whoever did the proposal to add new numbers for it. So look at this project and this venture proposal is really designed for early stage inventors and entrepreneurs who are not sure. Not sure. Right. And that's okay. You shouldn't be sure. The the thing is that When you start going down that road, there are so many different people that you can hire that adds up to a sizable number. We'll get into that afterwards. But right now, this answers the question: can I protect it? And is this a good idea? And again, the data and the information will be there for you to go and evaluate it yourselves. It's not something we're going to say, wow, this is a great idea, even though I can tell you from the get-go, this is a great idea. But it helps you go be confident for the most important part of this. And that is the investment. But I I also say that you have to know who you're gonna go to. You have to understand who you're gonna go to. If you have a a family member that's been shy, don't go to that don't go to that family member. You wanna go to somebody you can trust. Right. And well, yeah, that's a good point. I would put it a little differently. Having the right partner is more important than having a partner, right? But again, in order to get funding, you need to have confidence that you're gonna do this. Even if the funding comes from you for the early stages, you wanna be confident. Like no one wants to go, wow. I shouldn't have done this. That was a bad idea, right? That that's what this prevents. even though I again I'm confident after you know the amount of time that we spent doing this, I can tell you if it's a good idea from day one that I started this. That's my gift, but I don't want to be in that position where you need to have that vision vision because you're the one making that decision. all right. So here are the objections that the venture program helps you overcome. is it a good idea? Yeah. How do I know it's a good idea? Well, look it. If you throw it on social media, even when you have a good idea, you are going to get ridiculed. Ooh. But then you're also going to see people that say, I love this. And then you're going to see people that shared it with somebody else. Right? That is something that helps you understand whether you should or shouldn't do this. Even though I wouldn't put on social media right from the getting. no, no, I would so again I wouldn't But that comes later. It gives you the option to do that or gives you the option to go and show friends and family. And take that same advice. you know how and and this is really the most important part. How do others see the opportunity? Right. That's it. Because you're gonna be asking people eventually or maybe not, you're either gonna be investing in this yourself or you're gonna be saying, Hey, would you partner with me? And Bobby, if you didn't see the opportunity in something, would you partner with anybody? No. No, you gotta see opportunity. It's gotta make business sense. Gotta make it gotta make it worth the time going into. Right. You know? And have to see division. So so it to see opportunity, right? The other thing people want to see is, would you buy them if this existed? So you know, I can tell you right now, you can go buy health hug today. If you know somebody that's in them that that has a child that has allergies or medication that is required for life threatening or life altering issues, they need a health hug, right? So even if you travel, keep everything one place that they know exactly what what what what's in here. That's for medication. Right. So that's the question. Wouldn't it make it if they if it existed? Absolutely. Right. what are the opinions about the product? This is where, look at this is subject to scrutiny right now. I don't like the way the button works. I don't like the way the handle works. I don't like the way I love the way this project turned out. And I think that we have done everything to answer those questions to make the product perfect. The stackability, the way that it opens up. It's an easy system that it anybody that doesn't have Has never experienced a child that's going in anaphylactic shock, can simply open it up, understand what to do and be confident to actually administer the life saving treatment that is required. Right. that that's just fact. Okay. so if people have opinions other than that, hey, look at we this that's what iterations are for. And we'd love to get feedback, right? People are always gonna tell us, my god, I wish it did this too, or I wish it had this other feature. And we're like, wow, that's a great idea. You're also gonna get a lot of opinions of things that you shouldn't do, right? And and that's we we can't be everything to everybody. But that's not everything is. But the venture program gives you that before you actually are are are in real life. Okay. who who would be the market for this product? You know for one of the first questions we have to ask. Who's gonna use this thing who's gonna buy it? We talked about how big is the market? We talked to a young lady a couple of months ago and she's she saw us on Chronicle, and her original idea was for you know, a a little different product. And we said, well, look, I think the market's bigger if you took that and did it in this, this, you're you're in a you're in a broader market. And I think that that would come first to you. And she went back, did her research, and now we're in the accelerator program. But you know, we gave her a little bit of the venture that she went and did. I would have still said that she would have probably been better off if she hadn't met us to just go and get the venture program, right? Like, let's do it. Let's be confident. Now she has come to us and I appreciate that, but There is so much more that we need to uncover in that process. And if you're early stage, she wasn't early stage. If you're early stage, this is where you need to go. Well, also when you speak into a professional, which we are professionals, this is we make a living at these are professionals. We're gonna talk to you. You might have a narrow scope of what your product should be. And by the time you talk to us, we just added two or three other markets to it just by a simple twist that the product could use. Look, you never know which market's gonna bite first, right? Or which which one's gonna hit first. The important thing is to be prepared for one brand that can cover a few different options and a few different markets. This is very narrow focused. Yes because it's very understood for those people. It is not a narrow understanding. It's a big market though. It's a huge market and it is a very valid market when you understand the risk and life-threatening potential, right? The timing can save, keeping everything neat and everything else. This is this makes perfect sense for the person that uses it. Okay. And then look at the last one is people ask, Well, what is the IP that should be protected. And this is where, it's more your world, Bobby. And we we have we have fantastic attorney partners that can answer the questions. And the reason why I call them fantastic, the ones we vetted out will tell you the truth that it is better to find the IP that matches your product than a generalized IP to just get you a piece of paper. I will tell you my old world, they rush to try to patent everything right off the beginning. when then you have to do 10 revisions towards the end instead of protecting it then coming towards the end and locking in on exactly what you're protecting. All right. Well look at we're gonna flip into page two here. You're this is where you're gonna have a a lot more to say than I do. So cost versus other early stage investments. So Bobby, you've been doing this a long, longer than I have. Longer. with a different company prior to meeting with with us and and joining us. what are the different options that people always go out with first? First and foremost, everybody and their mother prototype. Prototype. The word prototype is thrown out a million times, but what you don't understand a prototype is practicing to you get one done. Yeah. What they don't understand is what a pre-production sample is compared to a prototype. Because you can have 80 prototypes. I mean, you could do something out of a hangar. You could go to design pump, they can make your 3D print prototype. That's not what's gonna come out of the machine that's gonna make this mass-produced product. That's not the tooling that does it, that's not the finishing model, and that's not they they could guess it's gonna work this way, but till you have it coming out of the factory that's doing it, then you know what you're working on. So if you're if you're early stage, we have a clear recommendation. Do it in your garage. Don't don't find that proof of concept. Just prove to me that it pops the top easier or that the can opener works better. whatever you little thing that you design that proves concept, that's all we're looking for. At that point, if you're still have doubt, I would not take the investment to go make a prototype. That could be expensive. It can be very cheap. if it's 3D printed, but it won't get you the functionality. Is it going to demonstrate the idea to someone else that needs to help you to help you, or is it going to give you the confidence? I would say no. 85% of your products are already done 90% of the time. So you already know where you're at. Those those little tweaks that'll change it. And that's all we have to worry about at that point, right there. Yeah. Well, look at it and that's those tweaks to have a great market. Let's let's talk about, let's jump into two things, right? The biggest costs are going to be: okay, hey, do I need to patent this? And so you're to jump down a patent process, which is going to cost a lot of money. Yes. You're going to then probably jump to a designer that's gonna design something because you can't 3D print or prototype something without the design. So right off the bat, you're probably already at about six grand. Then you're gonna go and spend money at a prototype company or a CAD model company. Exactly. And that is going to cost you another eight to ten grand. Well the gentleman we had yesterday, twenty grand on the hole. Twenty grand twenty grand for a year and a half working with a design firm because you wanted someone local and twenty on room, couldn't do it. Let me be clear. There's nothing wrong with that. I th he even said and I agree with him and I've had a lot of conversations It's part of learning process, right? do I want to do this? Am I going to do this? I'm just saying, General Priest, what is our cost of our venture program? $8,000. Under $8,000. Just under $8,000. Under $8,000. Under $8,000. It's just covered everything that Bobby and I talked about here. there'll be examples that you can take a look at. And I'm just gonna remind everybody there is a seven step checklist that we have. We've already done the podcast for. But the first thing is you have to have product confidence. You should not you don't, who will? You I would move into manufacturing and any con any other conversation to your product confidence confidence. The second question you need to answer is can it be made? Right? Flying cars, perpetual energy, all that stuff, it's it's not that's not doable. So let's not even talk about it. The the biggest question that you talk to us about is can it be made? And that is covered in the venture program. More importantly, can it be made for margins? Yep. Can it be made profitable? Fine, not just can be made. Anything can be made. Yeah. But if it costs more to make it and you're gonna sell it, we're upside down. That's yeah. So right now I'm trying to keep it simple, but yes, can it be made? The the the third part is finding the market, right? If you don't know who your market is, I don't think you should do this right away. I think you should invest some time and effort into finding your market. And I would just tell you that I would this is a professional setting. I I would not just go out and use AI. AI is gonna give you a lot of great starting points, not a lot of detail, and it there's some expertise here to be to make sure you're not wrong. AI is is is group knowledge. It's it's generalized knowledge. It's fan, it's best said. financing and margins. So that's why I kind of skipped over. So financing and margins, right? This is the two things that are very important because the market, you know, when you go to a restaurant, Mar Bobby, and you you see an item on the menu that you will like and and it says market price, what does that mean? It means I'm about to ask the price. I better ask the price before order because I know they're gonna come in. But but market price means I you like look at the reality is you go to an auction for the auto for cars, you go online to bid on something, you you don't have the market controls the price. The market controls the stock price. It is not set by you or I, it's ca it's set by the consumer, right? What is someone willing to pay for a service or for an item? And you know, it's generally got categories and it's generally already predetermined. And you want to stay in those categories and l lanes because You can't take an item that's a five in one and say I can charge five times more because each tool costs X. You have to be in a similar decision zone cost, and that's what sets your your margin. You can be a little bit higher, Sharp image, Brookstone. Yeah. But you can't have a value for that pro that product to be a little bit higher. You you can't price yourself out of the market. So finances and margins are the most important thing. Well, hold on. The most awkward conversations we have is the financing conversation with clients. Yeah. When I have to ask somebody directly, well, what is your budget for this? Well, I don't know. You have to have a budget. Listen, if you're gonna go shopping for clothes, you're gonna go shopping for a car, you're gonna walk into a place that you have your budget. Can you manufacture anything with no money? No. So let's be realistic right off the bat. You cannot if you have a product idea and you don't have the funding for it, stop dreaming. Stop dreaming. I have not seen a license in the entire entity of fifty two launch. I have never seen like the statistical likelihood of not seeing a license deal come through. Mm-hmm. In the amount of people that I've talked to, still to this date, no one's calling back and I've challenged everybody. Call me if you got a license deal. If we talked in the last 10 years, nobody has gotten it. So very few. I I'm just saying I I'd like to get this. And even if one person did out of thirty five thousand, maybe forty thousand people I've talked to, good luck. Well, my old industry would give you we give you your stats and less than one percent made money off their license deal. From the feud that made a license deal. Only three, maybe two percent made a license, and out of those, maybe one percent made money. So as Captain Sullenberger in the movie said, can we get real now? You do need to figure out the funding. And this venture program, it's it's it's exactly why it's called the venture program, because you're about to venture into something and one of those things is to get venture finance. Of course. Right. It's about people taking a little bit of risk. But when you actually break down the cost among a group of four or five or a small group of investors, it is not a it's not a deterrent. It is actually a very attainable and realistic number and again this is what we work on. This is the the next step. This is a full credit. The eight thousand dollars we even talk about it with this is we even told me exactly. Yeah, it's a full credit towards our accelerator, right? These are just items that we do in our accelerator. If you want to do them earlier and everyone's been asking us, is there an earlier stage so I can go and get validation? This is it. Well this is this is the the great thing about this package is you're going to go to your investors. You're going to people and you have us because we're part of the package. And you need to have a a a Google Meets meeting with them. Bring your investors. We'll talk to them. Right. Because they want they want the experienced ten years, seven hundred and fifty products. Here's our process. We can lay out everything. It's in the contract. You set it up, we show up because we're gonna answer the things that we should be answering, and that is the things how do how do we make it, why we're making it this way, what are the designs? Marketing can answer what we see as far as the it's not just you answering it, it's it's a team of people that have done this. Specialist. Specialists. So the the fourth the the fifth one here, so yeah, look you do need financing. The the fifth one here is courage. You need courage. Because and I tell everybody I when they take a step with us to go bring a product to market, I respect and am grateful that they have the courage to do this because I wish more people did. Mm-hmm. But it it is the biggest it's the biggest holdback, right? This isn't about whether we can do this, not about whether the market's there. I I will tell you, there's a million really crappy products on Amazon that sell into millions of dollars every day. And just off of that fact, the fact that you are afraid and I get fear. But courage overcomes fear. You have to have courage to to get this. the th the sixth one is you you just have to have the drive not to fail. Yeah. It's it's not hard, right? You you pick yourself up. You you swing at at at balls and strikes all day long. Many times you see somebody goes, How did he do it? If he could do it, I can do it. Yeah. Do it. Yeah. Don't say it. Do it. Yeah. That's it. Well, I I I last night we were watching the MLB World Series, right? And Jeter sa cap the cap says hey, the you know, in today's baseball a two hundred eighty is a great hitting average. Right. man, I was like, I remember Paul Alrud, you for the Toronto Blue Jays. that that guy was a three eighty, I believe. when when did it become acceptable or did pitchers get that much better or like something changed? But it gives you a hundred million dollar contract. I I'm so you know y the drive to not fail at two eighty has been diminished. I would tell you that, you know, in my day, you you want to bat three hundred. And I think that th it's not being successful eighty percent of the time. It's being successful thirty percent of the time that makes that's your drive to not fail. And that is not hard to achieve, even if you become a two eighty. Right. You you're still in the hundred hundred million dollar conversation if you're in baseball. So you could get that hit that you could get that hit when they needed it the most. Number seven. Number seven, Bobby. Here we go. Risk, reward, and regret. Man, and and we could even do we could even do the the two F's, fear and finance. It all boils down to that. fear over courage overcomes fear. You know, and and hiring us because there shouldn't be any fear. We take off we take all the fear out of this process because we do it over and over. A lot of communication. We have the network, but the if you have the courage, it's risk reward. You don't have reward without risk. the question is, how do you feel when you see your product idea in 20 years from now and say I had that idea? Ten years. Regret is the hardest thing to live with in life and the venture program. There is no more regrets. Let's get this started. I want to thank the people from Help Thug. This is an incredible product. If you know someone that needs this, please share. The link is in the bio in the in the description. Niece, a nephew, someone you know that needs it, that allergies. Yeah, if you've got a preschool or a school, suggest this. work with them. They're very they're amazing people. in the meantime, look at this video. it is meant for someone that is looking at how to get started. this is going to be sent to you if you if we have recommended you for the venture program. This is for you. And if anybody that you know is in this entrepreneurial inventor world that needs help, this is the right program for them to get started and actually succeed at launching the idea they have. Thank you very much for watching. Please like, comment, and share. Share, share.