Before our class started this summer I caught a bit of a television show called Shark Tank. The show features 4 extremely wealthy CEO's and entrepreneurs such as Mark Cuban. People who think they have have created the next "it" item pitch their idea to the millionaires in hopes for them to become stakeholders in their product.
In several of the products I saw I thought the people had a good idea, they just had no idea how to begin to sell it. When the "sharks" purchase equity in the company, they help the inventors to grow their company and to properly market the item. This is a huge asset since the people who are investing have the best connections you could ask for in the business world, and if they don't, they have a few millionaire friends who could help you out.
The most trouble the inventors had was finding a way to fund and market their item. By the first week of our marketing class I could see where they would all benefit from a basic lesson in marketing, the 4 p's, promotion, branding and advertisements. Anyways, I thought I'd post a few of the links to my favorite products I saw on the show for you guys to check out.
http://www.sweepeasy.com
This broom links back to our discussion about a boring product with a huge upgrade.
http://www.littersf.com
What I like about this jewelry company is they hardly have any costs. They use scrap chains and metal to create designs, thus having a huge profit margin.
http://www.unikeytech.com
Probably my favorite. Check out how this guy adapted the standard door lock.
Yeah that is interesting how that works with inventors. I chose business because in terms of an education I find it the most practical. You can have a genius idea but if you don't know how to make it make money you have nothing.
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