Frequently Asked Questions
Coaching & Consulting
Jim has successfully sold tens of millions of dollars to the world’s leading retailers such as Costco, Target, Walgreens, Bed Bath & Beyond, and dozens of others. He has counseled hundreds of invention entrepreneurs and established multi-million dollar consumer products companies. As an industry-recognized blogger, author, and sought-after speaker, Jim has the deep experience and knowledge to help you succeed.
He will work with you one-on-one to get everything organized, created, and situated so that your product gets manufactured and prepared to sell to retailers. Think of it as having a dedicated employee with years of valuable experience working to help you!
Many things need to be done when you develop a product and build a business around it. A website needs to be created and polished if already in existence, proper spec and sell sheets need to be formed, great packaging must be created to help set your product apart, and pricing structures need to be formulated so that you and the retailer make money, manufacturing details must be organized so that your products are well made and done so for the best possible price, and when all of the dozens of other details have been addressed you must learn how to market and sell your products! Jim will teach you everything you need to know and will bring in his team of experts to help execute all phases of your project. Through calls, emails, and teleconferences with other experts, you will have Jim there by your side to guide you!
Jim has vast experience in the following areas:
Product development – getting an idea from your mind onto paper and beyond
Patents and Trademarks (disclosure – Jim is not a patent attorney or agent)
Manufacturing
Branding – logos, taglines, and website development
Licensing
Sales and marketing to small and large retailers
Social media marketing
Public Relations
Packaging
Pricing strategies
Funding
And so much more!
The Inner Circle of experts consists of the leading names in the consumer products industry including renowned patent attorneys, funding experts, factory sourcing agents, branding gurus, social media mavens, licensing pros, and highly successful retail sales and marketing leaders. Each one of these experts is industry-recognized and enjoys top-level reputations in the industry.
Jim will tell you that, in his nearly 20 years of selling to major retailers all over the world, nearly 90% of all people who approach him are NOT READY to sell to retailers or license their products to companies. Their websites and collateral materials usually need revisions, the product may need packaging changes or pricing restructuring and many other areas may need to be addressed for Jim to feel comfortable and confident when you approach executives who can purchase your product. The fact is that if you are not in the business of consumer products your judgment of your own product and its readiness may be clouded due to a lack of relevant information, inexperience in knowing what retail buyers and corporations want from you, and your simple desire to see your own product succeed. Jim would never perform surgery on himself or go to court without an attorney because he understands the extreme value of having an expert by his side to make sure things get done correctly. Having an expert to help you do the work is a big asset and money saver as well.
Simple…because it takes time to do everything that is mentioned in the above question and answers. On average, it takes more than a year of hard work to take an idea for a product and have it ready to be sold to retailers. Since there are dozens of “moving parts” to developing and preparing a product for selling, there will surely be many calls, emails, and back-and-forth work and discussions to complete everything and to answer the many questions you will have along the way. It is simply not possible to have Jim review everything you have done, make suggested changes, help you learn what you need to know, and do it all in a day or two. He does things RIGHT and to do that takes lots of time and commitment for both of you.
No, and anyone that promises success may be lying to you! There are so many factors that determine success and many of them have nothing to do with the product itself. Jim will do everything in his power to help you succeed but there are simply no guarantees.
He will email you a lengthy questionnaire. Once you answer it and send it back, he will review it and get a “baseline” from which to work and understand what you have done and what you need to do. Then, Jim will call you to review the questionnaire and begin laying out a game plan that you both will work from to ensure you stay on track and that work gets completed in order and efficiently.
He does not call on buyers as part of his standard coaching programs. Jim offers special programs that are dedicated to just selling products and that depends on a number of factors. However, Jim will teach you everything you need to know on how to make a cold call to a buyer, negotiate a deal, and follow up and get a deal done!
Consumer Survey
Typically, it takes anywhere from a week to as many as 2-3 weeks. It usually depends on how long our participants take to complete and return the survey to us.
Often, we see that products that achieve positive reviews, comments, and other indicators that “feel good” during a survey tend to have a greater chance of success in the retail marketplace. However, it’s truly unpredictable as to how any product will perform regardless of survey results.
The people who love you the most will be the ones who most likely tell you your product is amazing… even if they think it’s not! They care about you. They want to spare your feelings. Asking people who DON’T know you or have a vested interest in your success are the best survey participants. Objectivity is critical! Asking strangers who are not readily concerned about your feelings offers the most honest and compelling feedback.
It is also common for inventors to become emotionally attached to their “baby” simply because they created it. However, it’s not your opinion of your product that matters. It’s the opinion of potential buyers throughout the country that matters.
Ideally, if you already have a product that is retail-ready or nearly retail-ready, we would receive a sample from you so we can review it ourselves and become more familiar with it but it’s not required. We do not need to have the product to perform the survey. If you are just in the idea stage, you won’t have a product, and we can perform the survey just fine!
Well, it may concern you, but the reality is over the decades we have been serving inventors, we rarely see people stealing inventor’s ideas and then making and selling them. Remember… the very person you are worried about taking your idea has to spend the same amount of time and effort to develop and market the product. These very costs and time commitments are a big deterrent to someone who is thinking about taking your idea.
We only charge $500.00! Why? Because we understand the needs of inventors and feel we must only offer the lowest cost possible to help you get your invention idea off the ground. Since we offer many other services and products to inventors and are a leading company in our industry with decades of experience, we are confident that we will do a great job for you. You may then choose to work with us for any additional needs you will have as you start and grow your business.
Factory Services
Most new or expanding entrepreneurs with products that need manufacturing do not have the connections, confidence, knowledge, or time to source products in China. Savvy product developers spend their time developing their products and business, not shooting in the dark for manufacturing. Our fees are extremely reasonable when you consider the amount of time and effort that goes into representing someone for this endeavor. Most often, our clients say they save more money by working with us simply by avoiding costly mistakes when doing it themselves.
Yes, you will get the benefit of real savings by manufacturing your products in volume overseas in most cases. If your orders are not at least a 20ft container full, you will experience slightly higher pricing. Not all items are good for sourcing overseas; please see the end of this Q&A for further details.
Yes, with the right manufacturer to produce your products you will get the best quality at the most competitive pricing available. No, if you do not secure the correct factory, or go with one that you have no experience or history with. Today, it is said that 5,000 + factories a day are closing their doors in China. As an agent, we choose only the best, most trustworthy factories to secure manufacturing.
Your goods are coming from a long distance. It is a good idea to plan well in advance before you actually need the product. Because each production will be different, we will advise on a case-by-case basis of your lead times. In general, it takes 30-45 days, counting from the day your order production is completed. It could be shorter, or longer, depending on the product and its technicality, shipping point and final destination. We will do our very best to secure the best schedule for the product delivery based on your needs. We will keep you abreast of the timing and changes and/or updates related to your production to help you plan your schedule.
Tooling is when a factory/manufacturer makes the molds/cavities to produce a product. It typically is associated with plastics, injection molding, and casting products. General completion is 2-6 + weeks.
It depends on how easy or how complex your product is. It can go from 2 weeks to 2+ months. In our quoting process, we will identify the time frame and discuss the findings with you. It would be wise to plan extra time for prototype modifications and/or improvements. It usually takes more than one run to attend to all the details and “debug” the product. Also, factor in the courier time needed between China and the US to receive updated samples.
We can source many products including those made of plastic, paper, cardboard, wood, and fabric (textiles). For product categories, we source jewelry, baby products, toys, clothing, consumer electronics, housewares, sporting goods, handbags/luggage, fashion accessories, small furniture items, and so much more. We do not work with chemicals, automotive, lotions, solar and liquid goods.
NOTE: We do not choose to take on every product and project. We will review your needs and requirements and then discuss them with you to decide if we are the best fit to assist with your manufacturing needs.
For a manufacturer to provide an accurate quote they need to know every dimension of every part, all tolerances, material specs, and surface finish requirements. Mechanical drawings (CAD), or specs, contain all this information. If your parts need to be made to a specific size and/or if multiple parts are involved that require close-fit assembly, we need the engineer’s drawings to get a quote. We emphasize that hand sketches, patent drawings, or the like do not show all dimensions or material callouts and are not acceptable.
We can have our team create the drawings for you; however, this fee is separate and paid upfront after receiving a quote from us. Today, most engineering firms use sophisticated CAD software that can create an electronic file that can be emailed. Most prints we receive by email are in .dwg (Autocad), .dxf, .pdf, .jpg, or .tif file formats.
An agent should have many years of experience working in the manufacturing and exportation field. Understanding manufacturing in China from the inside out, we have factory representatives on the ground to ensure the factory’s pricing stays competitive. Not having them will cause communication problems and production issues.
It is best to know and take into account the regional and local manufacturing environment – the supply and demand of all factors involved, the competition and quality, and to know at which level the prices are reasonable. You need to also know at which level the prices become attractive without sacrificing quality. If you are looking into manufacturing on your own, make sure you get at least 3-4 quotes from factories and be as knowledgeable as possible on the items mentioned above. We always recommend that you get a good map of China and know the locations and regions where you are looking for factories if you choose to go it alone. For example, the closer you go to Hong Kong for manufacturing, the more you will pay.
Some Chinese factories do have the problem of not respecting other countries’ intellectual property rights. However, working with manufacturers who have been in business for many years and who would not jeopardize their reputation, and business, with American companies by not being honest and trustworthy, is very important. We believe big changes will come in the following area; China’s economic growth will inevitably lead to more and more innovation and invention by Chinese entrepreneurs. Their own need for the protection of their intellectual property rights will be the real force to drive the “internal integrity” change needed in China.
There are also safeguards the US Government affords patent holders when a knock-off enters the port which may infringe on an existing US patent. You can check with U.S. Customs for more information. We only deal with and give our business to trustworthy factories.
Make sure you have the appropriate disclosures when working with anyone in this business. We believe in abundance, that there is plenty for everybody, and that one’s success is not achieved at the expense or exclusion of others. We are more than willing to sign an NDA or other documents you suggest. We are in the business of finding manufacturing for our clients – not undermining them.
Our program costs just $1000! While we realize we are offering an extremely valuable and critical service, we do earn money when your product is produced by a factory. Most factories pay commissions to salespeople or brokers to help them obtain new business. This commission is generally very low… just pennies per piece for each piece of your product that is produced.
We understand that our responsibility is to choose the best factory for your product and that is what we do. We do not work with factories based on commission rates…but rather the ones we deem best suited for your product. Due to the significant amount of time we spend as well as our decades of experience and knowledge, we do not offer refunds once we have embarked on your project.
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