An elevator pitch is a short, compelling summary of an idea, product, or service that can be delivered in the time it takes to ride an elevator (usually 30-60 seconds). Here are some steps to help you write an effective elevator pitch:

1. Start with a hook: Begin with a strong and attention-grabbing statement that will make the listener want to hear more. This could be a surprising statistic, a thought-provoking question, or a bold claim.

2. Identify the problem: Clearly articulate the problem that your idea, product, or service solves. This should be a specific and pressing issue that your target audience is experiencing.

3. Explain your solution: Explain how your idea, product, or service solves the problem you identified. Be specific and concise, and use language that is easy to understand.

4. Highlight your unique selling proposition: Identify what sets your idea, product, or service apart from the competition. This could be a unique feature, a special benefit, or a key...

We are excited to meet with retailers, wholesalers, distributors, and DRTV companies at the 2023 Inspired Home Show in Chicago this week.

For wholesale quotes, samples, and sales brochures for the 24 NEW PRODUCTS we featured, contact us via email at [email protected] or Click Here.

Launching a new product can be an exciting and challenging process, but with the right strategy and mentor, you can increase your chances of success. Here are a few key steps to consider when launching a new product:

1. Conduct market research: Before launching your product, it's important to conduct market research to understand your target audience, their needs and pain points, and the competitive landscape. This will help you refine your product concept and develop a marketing strategy that resonates with your audience.

2. Develop a strong value proposition: Your product needs to offer a clear and compelling value proposition to your target audience. This includes not only the features and benefits of your product, but also the emotional and psychological benefits that your product provides.

3. Create a marketing plan: A successful product launch requires a comprehensive marketing plan that includes both traditional and digital marketing channels. This can include advertising,...

A product mentor can be incredibly valuable for anyone involved in product development, whether you're a new product manager or a seasoned entrepreneur. Here are a few reasons why you might want to consider working with a product mentor:

1. Gain experience and insights: A product mentor can offer you valuable insights and experience that you might not have gained on your own. They can share their experiences, offer advice, and provide guidance based on their own successes and failures.

2. Receive constructive feedback: A product mentor can provide feedback on your ideas, strategies, and plans, helping you to refine and improve your approach. This can be especially helpful if you're struggling to identify areas for improvement or if you're feeling stuck in your product development process.

3. Build your network: A product mentor can also help you expand your network of contacts and connect you with other professionals in your field. They may be able to introduce you to potential...

What if there was a place to open doors and create opportunities for your product or app?

The good news is, it exists! Let me reintroduce you to LinkedIn. 

When you use LinkedIn correctly, you can establish credibility for yourself to open doors for sales or collaboration. 

Establish Yourself

It's important to establish yourself as the creator of your product or app. When people know your product was invented by you and they know your story, an emotional connection is made to your product or brand.

It's not just another product on the market that is sold by an anonymous company. It is a product invented by a real person, someone just like them. 

When people know your story, it is easier to build a community behind you. If you do it right, they will even cheer you on and be there for you.

Putting your name out there with a product can also help establish you as the bonafide creator, in case anything ever comes up with another inventor or company. I have seen knock-off...

We are excited to meet with retailers, wholesalers, and distributors at the 2023 National Hardware Show in Las Vegas this week.

ProductMentor is showcasing over 25 new products on behalf of our partners at this year's event! Manny Garcia and Tor Steinke (pictured) are two such partners.

Come on by our booth if you are at the show

Or contact us via email at [email protected] for wholesale quotes, samples, and sales brochures.

Protecting a new idea can be important, especially if it has the potential to be valuable or profitable. Here are a few steps you can take to protect your new idea:

1. Keep your idea confidential: Do not share your idea with anyone who is not directly involved in developing or protecting it. Make sure anyone who does have access to your idea signs a non-disclosure agreement (NDA) before you share any details.

2. Conduct research: Conduct a patent search to ensure that your idea is not already protected by an existing patent or trademark. You can also search online to see if anyone else is working on a similar idea.

3. File for a patent: If your idea is new and innovative, you may be able to file for a patent to protect your intellectual property. A patent gives you exclusive rights to your idea for a certain period of time, typically 20 years from the date of filing. You will need to work with a patent attorney to file a patent application.

4. Copyright or trademark: Depending on the...

Starting a business gives you the flexibility and opportunity to control your destiny. But with all the pain and dysfunction in the world today, a lot of people are probably thinking, "how could I ever start a business in this environment". Here's why..

1. Change = Opportunity. Whenever there are changes, new opportunities always surface to address those changes.
2. Work From Home trend. Society is coming to the realization that entrepreneurship is the future, whether as a side hustle or to replace your income.
3. Access to people. It has never been easier to reach specific audiences that would benefit from your business. Look no further than social media and influencers. 
4. You’re never going to get rich working for someone else. Now there are always exceptions to this but rich people know that the greatest risk is not betting on yourself. 

So if you have a concept, an idea, a product, or an app, now is the time to develop it.

Click Here for more inspiration.

The opportunity cost of waiting to pursue your idea can be significant. Here are a few reasons why:

1. Missed market opportunities: Markets are dynamic and constantly evolving, and what is a great idea today may not be a great idea tomorrow. Waiting too long to pursue your idea can mean missing out on a key market opportunity, and allowing competitors to get ahead of you.

2. Delayed learning: Pursuing your idea sooner rather than later can help you learn valuable lessons about your customers, your market, and your product. The longer you wait, the longer it will take to gain this knowledge and make the necessary adjustments to your strategy.

3. Lost time and resources: Every day that you delay pursuing your idea is a day that you're not making progress towards your goals. Waiting can also mean that you're spending resources (money, time, energy) on other activities that are not as important or valuable.

4. Regret and missed potential: If you have a strong passion for your idea, waiting...

Starting a business is a lot harder than most people think. Rarely is a business so in tune with its customer’s needs that it can float along with minimal effort. But why do so many businesses fail? The reasons run deep, but here is what you should know before starting your own business. 

KEY TAKEAWAYS

• According to business owners, reasons for failure include money running out, being in the wrong market, a lack of research, bad service providers, ineffective marketing, and no proven process.
• Ways to avoid failing include setting goals, accurate research, loving the work, not quitting, and aligning yourself with the right team. 

Reasons for Failing

If you poll former business owners, you will get a wide variety of reasons as to why their businesses failed. 

1. Money Ran Out: This widely given reason doesn’t really explain why a business failed. The money ran out because it stopped coming in, so why did the cash flow dry up? Was it due to poorly managed...