This holiday season is shaping up to be a slower one for most big retail chains and this is not “breaking news” by any means.  However, what is important is that we all go out and do a little shopping!  There are many reasons why people shop but this year it is really about supporting the economy and making your dollars work for everyone else.  Allow me to explain a little further…

My dad owned a few hardware/fireplace stores when I was a little kid.  I grew up around the “mom and pop” retail environment and always loved it.  The customers that always came in got to know us and many became friends with my parents.  They loved to shop at my dad’s store because he made everything personal – he really helped them and spent time with them and people love that stuff!  He always knew how to take care of people and he personified customer service as we know it today.  Needless to say my dad was very successful and still runs a store to this very day.  You can’t argue with the kind of success - being in business for nearly 40 years!  Often, people shopped at his stores even though his prices were higher than those at the big box chains.  People WILL pay a premium for great and caring service and true knowledge of the products they sell.  I know I do…and the trust that is built between retailer and customer can become quite powerful.  In the end, my dad helped people and both he and his customers knew that.  They in turn supported him and his business and that my friend is what a great retail experience is all about.  There are still plenty of retail chains that provide a good experience but they seem to be fading.  The ones that will survive in the coming years will be those that can deliver such an experience no matter how large they become.

The point I am trying to make is that you need to support those stores and people that have always treated you well.  Go spend a few bucks there.  Make sure you buy something even if it is not necessarily in your budget.  When you buy a gift for someone you like you not only help the retail but you help those that work there and create a special moment for the recipient of the gift.  The all around support you give will have a positive ripple effect on the economy and that is exactly what we need right now.  So get up and go shopping and have some fun!!

Happy holidays to everyone!

More and more in this tough economy, people seem to be finding reasons NOT to do things than to actually doing them.  Case in point - so many inventors keep telling me they are planning in waiting 6-9 months before they will start up again because they feel their efforts will be wasted while the economy is poor.  Now I understand those concerns and they are real, but you MUST continue to move forward and do so with all the proper knowledge and patience knowing that it may take longer to reach your success point.  In my mind, the worst thing to do is to stop moving.  It’s kind of like what my dad and so many people in the 60’s or 70’s say - what would they do if they retired?  Sit on a couch all day? Golf every other afternoon?  So many older people choose to keep themselves involved in things and many continue to work.  Maybe not as much as they did but the point is that they have the right mindset.  There is plenty of time for rest when you are no longer alive!  Keep doing things and it does not matter what those things are but stopping only prevents you from achieving anything and if you are not in the game you certainly cannot expect any good outcome or any outcome at all……

What ever happened to good old fashion quality?  I swear…stuff is just made so poorly these days that most things seem disposable!  From clothes to consumer electronics, everything seems to either just fall apart or fail within a year or so of buying it.  And it does not seem to matter how much you pay for it.  I always felt like that if I paid more for something it would be better but not anymore!  We have bought expensive clothes and TV’s and everything just seems to fail.  Maybe I should just spend a lot less and get used to it!

The good thing is that most retailers will take most things back.  They seem to understand that things are NOT built to last and if they are going to promote and carry products that perform poorly that they need to accept them back if they want people to continue to shop at their stores.  Today, I seem to buy more and more extended warranties like for our camera and I can tell you I am happy about it.  I have cashed in on it more than a couple of times…

What can we do….likely not much.

Well, I just read that KB Toys has finally filed for Chapter 11 bankruptcy protection.  But here is the rub….

It really has little to do with the economy today, but rather a decade or so or being in business when in fact they should have gone out of business a long time ago.  Back in the mid 90’s, KB was already in financial trouble.  Add to that the stores were never really updated, had mediocre customer service, and simply could not compete with Target or Wal-Mart on price and their fate was sealed.  Sadly, lots of people will lose their jobs and this is always such a bad time emotionally for people to experience hardship.  However, it was time for this chain to go.  I know many people in retail who simply will not even notice their absence.  Now, maybe they will restructure and stay in business but things will have to change and change in a huge way for them to even hope to compete in this new economic climate we will face in 2009.  I never see them advertise, I never get any coupons from them, and I never ever hear of anyone that even shops in their stores.  This must change…we live in a digital world where smart retailers take a multi-channel approach (stores, web, print) to reach their customers.

This is a wake up call to so many other retailers….and hope they take notice and make important changes or we will have many more instances like this in the coming year.

No, I highly doubt it….but if you watch the news enough it will make you want to crawl in a corner and hide!

I have been talking to lots of inventors and individuals who are about ready to bring their products to market but they are so nervous…and they should be!  However, it is not the economic situation we are in that should concern them.  It is their lack of preparation and knowledge of the business that is their biggest obstacle.  What I see is that people are willing to spend tens of thousands of dollars to build website, manufacture a bunch of pieces of their product, package it, file patents, etc and they have no idea what the process is for selling their products to retailers or anyone else.  You talk about a potential huge waste of money?  This is it right here!

Today, there are endless resources for developing a business the RIGHT WAY.  Let me know if you need help….I can steer you in the right direction.  Just don’t jump headfirst into the pool without seeking the advice of someone  who knows what to do and how to do it!

I don’t know about you, but there is just NO WAY I am getting up to go shopping at 4am at Kohl’s or anyone else the day after Thanksgiving!  In fact, I am not even sure what “hot” items are out there this year since we already have a flat screen TV, a little home theater system, and more toys for the kids than they could possibly ever play with.  The trick to making out well on these early morning shopping trips is to FOCUS!  Focus on the few things you really want to get and make sure you do your homework before you go out.  So, if you want a particular TV, go online and look up the exact model and see what the price is.  If it is lets say 1,000 doallrs, then why get up at 4 o’clock to go get it if there is no significant savings?  The point of going out that early is to either get a real deal or to get something that might otherwise sell out before the holidays approach.  I am sleeping in…..

I was out shopping last night at Linen’s and Things with my wife and was hoping they would actually have some great deals since they are going out of business.  So what happened?  We bought a few items that were about the same price as if I went to Costco or Target.  When I left the store I felt ripped off a little because when a store liquidates it should sell things that people want at a great price - or at least that is how I felt yesterday….

So far this holiday season, I have yet to see any earth shattering deals on anything I really want to buy like electronics, clothes, or things for the kids.  It seems the things I want cost just the same!  Figures…

If anyone out there is seeing any true deals please let me know!!  I know for sure that we will see a number of big retailers go out of business soon after holiday and some are already starting the process like Circuit City, JJill, Cache, Value City, and a number of others.  Sad actually as some of these stores we grew up with but it seems there are just too many stores out there to begin with.  Other that the fact that many people will not have a job which is sad, I feel it is a good thing that we pare down the amount of retailers we have out there and hoping those that survive take our interest at heart by offering better customer service and great value.

I just came back from Savannah after leading a workshop for inventors.  The workshop was about how to get your self and your products prepared to sell to major retailers.  It is always good to see that so many people wish to seek out how to do this correctly and so it always makes for a fun workshop!

There is one thing that I noticed in the workshop and so many others I do - attendees are looking for all sorts of information that has nothing to do with the workshop subject matter itself.  For example, I had a few people ask me about patent protection and manufacturing.  While these subjects are crucial and I admire those people for asking me for information so that they can be learn what they need to, I am surely not an expert on patents and there are people who work in manufacturing everyday and are more suited to field these questions than I am.  The point is that when you attend a workshop that is only a few hours you should come prepared to ask questions about the subject at hand.  This will prevent the speaker from spending time on a subject that he or she is NOT there to talk about and hence is actually taking away valuable time from those that are there to learn about what the workshop is about.  Don’t get me wrong…I am not saying people should not bring up the subject or ask a speaker if they can point that person in the right direction, it is just that a speaker like me really wants to help people and may feel compelled to answer the questions as best as possible.  You always want to spend the time concentrating on the subject matter and give people the most info you can in the amount of time you have - which of course is never enough!

Well, the Presidential race is finally over and we will have a new President for 2009.  Our new President promises that “change” is coming and we need a new outlook and spirit to drive our great country forward in the years to come.  That certainly sounds good to me but for me change is about getting up each day and doing something to make changes for the better a reality.  What can you do as an inventor to make important and impactful changes in your life?  Start by making a new promise to finally make your ideas reality!

When I talk to inventors, many of them tell me they are “stuck” or have “been working on their invention for years” and I am always intrigued by this.  Why is it taking so long?  What are they stuck on?  Is it a lack of money?  Is it a lack of knowledge?  I think it is all of these things and more….and so what can you do TODAY to make a change for the better?  Get up, make a list of what you have already done and what you need to do, and start by taking one step at a time!  If you are not sure about what to do next, email me and I will send you a list of steps an inventor should take to get their invention off the ground.  No more excuses and no more delay.  Change is coming…but only you can make changes that personally affect you and your family. 

I can share one very important lesson I have learned over the years.  Inventors often tell me they have many ideas and just don’t know which one they should pursue.  The answer is simple – choose the one that is the easiest to make, least expensive to produce, and one that will resonate with the greatest number of people.  You will never satisfy everyone you meet so all you can do is work hard on what you believe in and stay with it.  Don’t quit if you have a great idea and it has been verified by people who don’t know you or have no special interest in your well being.  There are times when I tell inventors to take a break or even give up but those times are few.  Just seek out good advice, trusted friends and colleagues, and start on your journey the RIGHT WAY today!

Ah Vegas….one of the only places where you can spend an entire weeks pay in just a few short hours!  Still fun though….and I am looking forward to attending the InventBay Expo Oct 18-19 at the Sands Convention Center.  This show is shaping up to be a good one….with hundreds of exhibitors and industry professionals as well as friends and inventors I know.  I am very hopeful that this will be a great new venue each year.  Currently, there are no other shows on the west coast of this size that appeal to inventors and that is good news for those living over there since coming to the east coast is quite  a trip - especially with high gas and air prices.

There are going to be a bunch of great speakers at the show and I plan on seeing as many as I can to learn as much as possible.  In the world of consumer products, there is always new and exciting info that is out there and trade shows are a great “one stop shop” to get so much valuable info in just a couple of days.  I always tell people to attend shows like this so you can network with other inventors and pick their brains…..and hopefully meet people that can help you further your business and your self with newly learned knowledge.  I always come away from shows like this with at least one or two things that help me improve the way I run my business.  The trick is to make sure you put whatever you learn into immediate practice.  I talk to people who say they heard or learned something really important but then they go home and forget about it.  You got to do something about what you learned and make it work for you.

Hopefully I will a lot of people there I know.  Come on out!!