Inventor Book ReviewNext Previous Contents Stand Alone, Inventor!By Robert G. Merrick, 1997, 304 pages (paperback), Lee Publishing Co., $19.95 + $3.50 S&H, ISBN-0-964-3832-0-9. In today's world, can the individual inventor -- the "stand-alone inventor" -- still succeed? Robert Merrick not only believes you can -- but his amazing career proves you can. At least four of his inventions fit into the "million dollar" category. He has sold over 50 million sheets of his transparent wristwatch calendars and over 3 million of his paper punches that convert a calling card or 3x5 card into a rotary file card. In fact, he believes, unless you estimate your product's first-year sales will exceed $1 million, you should venture it yourself. Based on his years of experience, he has come up with ten basic rules for stand-alone inventors, If your invention conforms to most of these ten rules, your chances for succeeding will be greatly increased. One could argue that these rules alone are worth the price of the book. Some inventions may not fall into the area where Merrick's rules apply. If you have a high technology, or complex invention, or a physically large device, you may find it necessary to use another approach, such as licensing. Also, the toy field in the USA, has become so specialized that the inventor is well advised to study a book devoted to just toys. However, if your invention is fairly simple, physically small and can be made at low cost, you may benefit greatly from Merrick's experiences. He feels you should not file for a patent until you are sure of your invention's feasibility and marketability. One low-cost means for doing this is to get an evaluation from the Wal-Mart Innovation Network (WIN). Another low-cost method of obtaining an unbiased, quality evaluation is to submit it to the Wisconsin Innovation Service Center. Both are highly regarded. The book's resource section has their addresses. The resource section (800 listings) of this book is also worth the price of the book itself. From the first conception of your idea to the putting of your product into your customer's hands, there is virtually no area he does not cover. Forms (that you may copy) such as a confidential disclosure agreement, request for quotation, and a purchase order are given. He gives advice about molds -- when to make a "soft mold" and when to make a hard mold -- when to have molds made at home and when to have them made overseas. He recommends using a sourcing agent when dealing in off-shore purchasing. He explains how a bank letter of credit (L.C.) works. Product promotion can be vital to a product's success. Merrick gives examples of how he obtained, for free, publicity worth tens of thousands of dollars. This includes write-ups in influential newspapers such as the Wall Street Journal which reaches almost 2 million businesspeople. He goes into details about packaging. He covers bags, blister, shells and shelf boxes. When to use the lowest cost methods -- and also when not to. Virtually all store-sold items today must bear a barcode. How to obtain the UPC (Universal Product Code) barcode is described. Some stores also require an SKU (Stockkeeping Unit number). With regard to paid advertising, he cautions you to avoid advertising agencies until your product has established significant sales. Writing your own ads, catalog sheets and price sheets is not all that difficult. He gives advice and examples of each. Pricing can be very critical to your product's success. Too often inventors set a price too low because they think a very low price is the key to high volume sales. He believes the retail price should be at least 10 times the cost to product the item. He goes into detail as to how product distribution works. He covers wholesalers' price lists, dealers' price lists, wholesale clubs, sales reps, master distributors, and sales consultants. A chapter is devoted to mail order, direct and Internet marketing. Another chapter is on selling an item suitable as a promotional product or as a premium. For the inventor who has a fairly simple item that looks like it could "take off" in the general consumer market, this book is a must read.
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