Introduction – Welcome to Before You Tank

0:00 welcome everybody to before you tank our
0:04 podcast that we are so passionate and
0:06 excited about for you guys to to join us
0:09 every week
0:11 you guys we call it
0:13 an industry that sucks
0:16 but we’re going to try really hard
0:18 not to discourage you on the industry
0:20 because inventing and bringing new
0:22 products to Market is really incredible
0:25 between us we’ve realized that we
0:27 have about 67 years experience
0:30 it’s all them no I’m kidding obviously
0:32 I’m the oldest so we know that I’ve been
0:34 around a long time
0:35 you guys what we realized was that
0:39 as friends in this industry
0:42 we started kind of leaning on each
0:45 other and we realized that our
0:48 conversations became really valuable for
0:51 each other but it’s also kind of funny
0:53 and really a really great way to share
0:55 stories that we really realized that
0:57 could really could make a difference for
1:00 you as the inventor in this industry
1:02 trying to trying to succeed
1:05 as a team we came together because I
1:09 have been at this for about 30 years
1:10 helping inventors do licensing deals get
1:13 in front of buyers get fire feedback so
1:15 that you’re creating products that
1:17 really really do succeed Pawan he is the
1:22 expert of product design
1:25 he is so so good at taking a product
1:29 and creating it really simplistically so
1:32 that when we manufacture it you guys
1:34 There’s an actual profit when it’s all
1:36 said and done which is huge and then I
1:39 have Keith who Keith is probably the
1:42 greatest at growth strategy I’ve ever
1:44 seen he built his company Camberlion
1:48 for the reason that there was just
1:50 nobody that could do it right and so he
1:53 decided there’s a better way to do it in
1:55 a way to help people more people so you
1:57 guys when I say that I mean when you go
2:00 to take a product to Market you have to
2:02 consider how to scale and I know that
2:05 all always seems like the last thing you
2:07 do but we’re hoping we can teach you
2:08 that you have to think from that mindset
2:10 from the beginning so I think we’ll all
2:12 agree that everything we want you to do
2:15 is looking at big picture and if you can
2:18 do this road map in the right way
2:22 you can survive a two percent success
2:24 rate right which is why we call it the
2:27 industry that sucks it’s because it
2:30 really is a two percent success rate
2:32 so you guys give me just hello give
2:36 me a little bit about yourself so
2:37 everybody can understand who you are a
2:39 little bit
2:40 who wants to start
2:41 go ahead Keith yeah so thanks for
2:43 setting us up it’s really exciting to
2:45 just kind of get together as you
2:47 mentioned just talk through some of the
2:49 things we’ve seen some of the stories
2:50 that we’ve run into some of the folks
2:52 that we’ve helped and just hopefully
2:54 share all this stuff that will help a
2:56 lot more people improve on that two
2:58 percent success rate right because in
3:00 the end yeah it’s a tough industry but
3:02 we’re all still in it and we want to see
3:04 more succeed right so we either have a
3:06 sickness or you know there’s something
3:08 to it that’s a little bit magical that’s
3:10 so true so I you know as you mentioned
3:13 I’m here really to help people figure
3:15 out that strategy that’s going to help
3:17 them grow right I saw this Gap in the
3:19 market where
3:20 there was just a need for taking a
3:23 look at that longer big picture kind of
3:25 that Arc of hey where do I want to get
3:26 to and what do I need to do today in
3:29 order to make that reality and so that’s
3:31 how we approach everything it’s all very
3:32 tailored but all that experience now I
3:35 want to take that and just share some of
3:37 those stories because I don’t have even
3:39 the bandwidth to work with everybody but
3:41 I think we can use a platform like this
3:43 to share some super valuable insights
3:45 that will save people a lot of time
3:47 money and heartache yeah and I want
3:48 everybody to know I use you for
3:53 you I think that’s how him you know
3:55 Keith and I had started first was that I
3:58 would call you on a regular basis and
3:59 say I’m trying to fix this client
4:01 problem and I need to get this product
4:03 for them or how do I do my own growth
4:06 can I charge more should I charge less
4:07 you know what do I do how do I do it and
4:09 you’ve always guided me through that so
4:12 we’ve had a lot of laughs and tears
4:14 together but I do want to say we brought
4:17 Pawan in probably what four or five
4:19 months ago into our group and God he’s
4:23 got a phenomenal gift at really looking
4:26 at products and going what this is so
4:29 complex why are we building it this way
4:32 which elated me because that’s the
4:34 biggest reason products don’t succeed is
4:36 because they cost too much and there’s
4:38 no profit and so saying that about
4:40 profit I do want to hit on one subject
4:43 we did not come together to do this
4:46 podcast to get more business we would
4:49 love to help and work with you all but I
4:50 just want everybody to understand that
4:52 we sincerely just wanted us to be able
4:55 to share things in a way that we think
4:57 might be really relatable so having said
5:00 that tell us for how are you doing tell
5:03 us well first of all thanks for bringing
5:05 this whole podcast because it’s really
5:07 useful I’ve seen it’s going back to the
5:10 two-percent success rate or people not
5:13 making money or failing the product I’ve
5:15 always seen over and over people come up
5:17 with something idea and they say oh this
5:19 is my prototype I want to sell this
5:21 prototype and my industry my background
5:24 I always like okay how to make the
5:26 product cheaper and the math my math
5:29 production and I think I’m just looking
5:30 at that as an you over designed it
5:32 that’s going to cost you a lot of money
5:34 you probably end up with not making
5:36 money and I think that’s what I want to
5:37 help people that’s why I start helping
5:39 like just looking at them and trying to
5:41 help them okay make your product simple
5:43 or
5:44 start your product with proper
5:46 definition and try to make it simple
5:48 from the beginning my word I said
5:50 just don’t reinvent the wheel try to use
5:53 that will more effectively I think this
5:55 is the perfect platform to bring it
5:58 everyone to help them guide them okay
6:00 what can be done or how we can help you
6:03 guys
6:04 and you’ve done that already for me with
6:06 probably three or four products like you
6:08 you guys and I don’t even ask him to see
6:10 if it needs to be made better he’ll just
6:13 look at it to solve a problem for me to
6:15 go do you want to save a few more
6:16 dollars per unit and do it this way and
6:19 of course I want to do that so that is
6:21 why we’ve become our token love in our
6:24 group so you guys I think for me today
6:28 the biggest thing that I think that I
6:30 would really really really love to
6:32 discuss is that
6:36 is that how important it is in this
6:39 industry to go in with your eyes open
6:41 that it is a two percent success rate
6:45 I guess for me what I try to
6:48 explain when my clients come to me who
6:52 always come after they’ve spent 65 or 85
6:55 dollars on patenting and prototyping and and
6:59 trying to get it out to Market it’s the
7:00 first time they’ve ever wanted to see if
7:03 it will sell and I guess for me I kind
7:07 of try to say to people that my dream
7:09 here is that
7:11 of course we want you to have success
7:13 and we want you to be the next biggest
7:14 product
7:15 but I think also we want you to at least
7:18 if you’re going to fail you fail with as
7:20 little investment of time and money as
7:23 you possibly can and so because we’re
7:26 creating something completely new
7:28 we understand that there is expenses
7:30 and there’s things that you have to do
7:32 but there are some really key
7:35 checkpoints on kind of that road map in
7:39 a way that you can do it the most
7:41 effectively and make some major
7:43 decisions right out the gate so that
7:46 you’re not still hitting up all your
7:47 friends and family that will no longer
7:49 come to your Thanksgiving dinner because
7:51 you’re going to hit them up for a check
7:52 you can find a way to do that so that
7:55 you can really get good at Innovation
7:57 and and I have people I know you guys
7:59 see them I have people that can invent
8:01 it’s not like this has to be the winner
8:03 they can invent something else because
8:06 they’re really good at that and so if
8:08 you get really good at how to test the
8:11 waters I took my kind of claim to fame
8:15 is I got my client 4.1 million down with
8:18 a 31 million dollar royalty deal on a
8:21 very simple pantyhose pack that we ended
8:24 up at now sells in 7-Eleven you guys
8:26 other than my time I had a 300
8:28 investment for some graphics to go to a
8:30 buyer so that’s kind of what I wanted us
8:33 to be able to do is that I wanted people
8:35 to be able to tune in go back and listen
8:37 to different podcasts that are relevant
8:39 for them and find those ways because we
8:42 know this industry and I just learned
8:44 this this industry is not linear you
8:47 don’t go step one step two step three
8:50 you truly have to navigate it kind of
8:53 all together and if we do that right and
8:55 we can help you guys understand what
8:58 we’re saying you guys could get in and
9:00 out of this if you’re going out in a
9:03 very affordable way so we want to
9:06 encourage you to succeed and we want you
9:08 to do it right right we’re not saying
9:10 that’s right because I think you can get
9:11 hung up on that two percent success rate
9:13 right we tend to think of only success
9:15 as you know the only option right and so
9:18 when you think about the other 98 what
9:21 happens right do they learn do they
9:23 launch a new product right is it that
9:25 somebody iterates three times and then
9:26 they get their successful one and now
9:28 they’re in that two percent so I think
9:30 you’re corrected that Europe did that
9:32 exact number and then they redesigned
9:34 for two years and then they came back as
9:36 the biggest hit yep these exact things
9:37 and sometimes it takes a long time right
9:39 maybe it’s not that year sticky notes is
9:40 like a classic example of that right
9:43 took like 20 something a really long
9:45 time but it finally stuck no pun
9:47 intended
9:49 that’s perfect but I think it’s so
9:53 important to keep that in mind and know
9:54 that even though that’s not linear right
9:56 there are these different areas that
9:58 doesn’t mean just spiral your way
9:59 through things there’s definitely some
10:01 methodologies and I think we’ll get into
10:03 some more of that especially in future
10:05 podcasts as well just to really help
10:07 guide those steps and when you are
10:09 finding yourself you know way out on
10:12 this you know path that you didn’t
10:13 expect to be on how do you continue to
10:16 get yourself back in the trajectory you
10:17 want to be on and ultimately lends to
10:20 success or you know a really good
10:22 learning opportunity exactly exactly and
10:25 one thing I’ve seen it because I came
10:27 from the corporate industry right A lot
10:28 of people invented like they start start
10:30 their own business after working in the
10:32 corporate industry and
10:33 it’s a lot of projects there on the
10:35 product development happening there is
10:37 linear you need to have the certain
10:39 Milestone make and that’s the mindset
10:41 you come out of that
10:43 but when you come to this one industry
10:46 that way you are creating your own
10:47 product I think that thing really
10:49 doesn’t work you have to work on
10:51 multiple channels at the one same time
10:53 marketing product development or market
10:56 research everything and they needs to
10:58 connect together and that’s why you make
11:00 successful product because if you spend
11:02 one time let’s say you’re doing the
11:04 prototyping you’re spending all money on
11:06 the prototyping that you don’t have
11:07 money for the marketing right right and
11:09 then you lose some key aspect of what
11:12 your product should be that you could
11:14 have find out during the marketing which
11:15 you haven’t done it so I think
11:17 non-linear is way to go it’s like you
11:19 can’t really go by one by one yeah and I
11:22 think that’s what we need to do on our
11:24 next show is I think today we just
11:25 really kind of wanted to say hello to
11:28 everybody let them understand what our
11:30 mission is
11:31 we would love for you to go to our
11:34 webpage and download questions ask us if
11:37 we can figure out technology we would be
11:39 able to let you call in but we’re not
11:41 quite there yet
11:43 but we would love to give you our
11:45 expertise and and some guidance and
11:47 advice
11:49 directly if we could right you guys I
11:51 mean I think that’s a real vision for us
11:53 we’re not quite there because
11:54 obviously this is our first big show
11:57 but I do I do I do want everyone to
12:00 realize that it’s we’re here for the
12:02 right reasons with our heart and in mind
12:04 and and we hope we make it entertaining
12:07 enough
12:09 so that you do get topics that that
12:11 hit home
12:13 so having said that and I guess you
12:15 know we’re we’re kind of just gonna wrap
12:17 up our first show and then you know kind
12:20 of kind of leave on that note but I
12:22 think if you had
12:24 I know for me we talked about the linear
12:26 and that’s really huge and we’re gonna
12:28 we’ll do a podcast on that but if you
12:30 were to give us one
12:33 one tip to the world and your industry
12:36 for today just something to go home and
12:38 digest and think about what what would
12:41 that be what do you think you would you
12:43 know I think
12:44 it’s really important to keep your eyes
12:47 on where you’re ultimately going right
12:49 no in the long term what you’re trying
12:52 to accomplish because even if your path
12:54 is non-linear and even if it takes you
12:56 down some exploratory paths right and
12:58 left ultimately if you keep a long-term
13:00 strategy of I know I need to get to that
13:02 point out there and you find yourself
13:03 off in the weeds it can help you course
13:06 correct so keeping that in mind and then
13:08 setting some goals against that now you
13:10 may update your strategy you may update
13:13 those long-term goals as you learn right
13:15 but if you set that from the beginning
13:16 knowing what you do know then any
13:18 learnings you get along the way can
13:21 start to inform your direction your
13:23 decision making and ultimately even if
13:26 you’re not you know the next Keurig or
13:29 the next you know huge million dollar
13:30 success you will have gained so much
13:33 incredible knowledge along that journey
13:35 I love that you say that because when I
13:37 take on a product so how I work is you
13:39 hire man
13:43 when I do a licensing deal I always go
13:46 with buyer feedback yeah and so I start
13:48 there first and I’ve had products
13:51 you know I I’ve had a product that
13:54 they’ve spent a lot of money in a lot of
13:56 years I will get it out to a buyer the
13:59 first month I get it and I’ll get like
14:01 this instant correction on what this
14:03 should be and So lately it’s been a lot
14:05 of like a little bit of Redevelopment
14:07 stuff so
14:09 which can get expensive and they have
14:11 to start over and I’ve been very blessed
14:12 I’ve been able to kind of go back and
14:14 beg them to help us to fix it and my
14:16 last product I saved just thirty
14:18 thousand dollars because the product
14:19 developer was really kind and
14:21 understanding
14:22 but I always ask my client what is your
14:25 ultimate goal what do you want to see
14:26 this do you are you trying to get a
14:28 licensing deal do you think you want to
14:29 manufacture it yourself who did you
14:31 really want to see it on the Shelf
14:33 because when you get off the shelf it’s
14:35 so fun but I do the same thing not maybe
14:37 what I would is I was actually running
14:39 the whole company but I do that same
14:41 this is my ultimate goal and every step
14:44 along the way whether yes or no is a win
14:47 because then I know that no this is not
14:50 going to sell like this it needs to look
14:52 like this well that’s fixable right or
14:55 your product costs too much that’s
14:57 fixable hopefully or whatever right so I
15:01 love what you’re saying I think you’re
15:02 spot on and you
15:04 give the gift that you see everything in
15:07 a growth I love that like you’re a scale
15:09 guy so you guys in in my industry I
15:11 learned that profitability and
15:14 scalability are the two hardest things
15:15 so when you start from your place then
15:18 it’s huge and then last one you know
15:22 you’re the key to the industry right
15:25 your product so give us that tip no I
15:27 think the one thing you said the
15:28 profitability and the scalable
15:29 scalability right so I think my tip of
15:32 the day is know your why I think you
15:35 need to start with why you are going to
15:37 make this product what is the Innovation
15:39 what it’s going to be you need to have
15:40 clear idea about why you’re doing this
15:43 to begin with yeah so you’ve got
15:44 everything and that fits every once you
15:46 know exactly what why is everything
15:49 really understand you get exactly what
15:51 you want to do where do you want to be
15:53 and all the things you just mentioned
15:54 about where you want to have your
15:55 product on the store or how you want to
15:57 follow I think that fits into that
15:59 problem are you truly solving because
16:02 it’s the problem you’re solving is to
16:04 have the next biggest product and be
16:06 able to retire that won’t be enough to
16:08 get you yeah it’s going to get harder so
16:10 if you don’t have a core wide besides
16:12 making money it’s just gonna get you’re
16:14 gonna find yourself burned out there
16:16 will be other ways easier ways to make
16:17money you know this industry sucks for a
16:20 reason so you will realize and that’s
16:22 where the two person comes in right
16:23 because if you don’t know your why you
16:25 keep adding the things to your product
16:26 you’re spending money and you’re at buy
16:29 end of the day you’re just gonna exhaust
16:31 all your money and then you and you
16:33 never go to market exactly I have
16:35 Adventures to do that they’re like okay
16:37 now we thought about this let’s add this
16:39 to it now let’s add this to it oops we
16:41 got it redesign to add that okay Daddy
16:43 can I borrow some money and they
16:46 redesign right and we never get to
16:47 Market and I have learned that new and
16:51 better products do really really well so
16:54 it’s okay to launch 101 and then 102 and
16:57 then 103. so you’re right know what
16:59 you’re solving know why you’re even
17:02 doing this because if you’re truly not
17:05 passionate on an average it takes six to
17:08 eight years to get a product to Market
17:09 you guys that’s the average and when a
17:12 company licenses your product even as
17:14 big as they are it’s about 250
17:17 thousand plus to spend and several years if
17:21 not multiple years beyond that so know
17:25 that going in before you do all of this
17:27 if you’re solving a problem and you
17:29 really care right because you may forget
17:31 that you even cared about that stupid
17:33 problem when you started so I agree 100
17:36 so you guys
17:39 thank you so much for agreeing to do
17:41 this with me because I know this was so
17:43 out in left field I know this is not
17:45 something I’ve ever talked about doing
17:46 but I just couldn’t it makes me cry
17:49 every time I get the phone call and
17:51 somebody paid nine thousand dollars for
17:54 a provisional patent that should cost 25
17:56 500 or less yeah you know coming out of
17:58 this I would love that we get stories
18:01 that are no longer those paid way too
18:04 much I spent way too much time I’ve
18:05 spent all my savings and it’s more I
18:08 made a better decision early I saved so
18:10 much money I actually hit this success I
18:13 changed my product and now I’m finding
18:14 success I want to hear those stories so
18:16 that’s why I think we do this oh my God
18:18 I’m gonna cry because you know I’m a big
18:20 baby but that’s it let’s set that right
18:23 now that that’s our goal is that our
18:25 goal out of this is that we get one and
18:29 then ten and then 200 people that say I
18:32 listened to what you said I did it this
18:34 way and I saved this amount of money
18:36 because I honest to God God I just took
18:40 on a client and I have saved him
18:44 four thousand dollars before he wrote me
18:46 a check out he hasn’t even signed my
18:47 contract
18:49 and you guys I forget how fun that is
18:51 it’s such a fun thing to be able to do
18:53 so that’s our goal high five that one
18:56 we’re doing that that’s our goal all
18:58 right you guys thank you so much for
19:00 tuning in I hope and pray that you’ll
19:02 come back and that we can teach you
19:04 please send us emails ask us for the
19:07 information that you want to hear and
19:09 come survive the tank before you take
19:13 come to us
19:15 thank you thanks guys