Madeleine Key
How to License Your Product Into 8,000 Stores!
Do you want to license your product and have it sold on home shopping channels like QVC and HSN? How about leading big-box retailers like Home Depot? inventRight graduate Michael Van Horst explains how in a new video interview!
Recently, Michael Van Horst joined our partner organization Inventors Groups of America for a fascinating conversation about how he got his product — now called Hang Hero — into 8,000 stores. Ever struggled to hang wall art? You need Hang Hero. It makes hanging fast, easy, and accurate the first time, with no tools required.
How great is this image made by our member Beverly Chiu? She shares more great insights from the event here.
One obstacle that you may need to overcome to license your product is when consumers have to be shown how to use it. This was true for Mike. Put it another way, his product requires education. People don’t automatically “get” how Hang Hero works when looking at it on the shelf.
This is one reason why Mike has become very talented at demonstrating his product — the demo makes all the difference and gets people to buy! Once consumers understand how Hang Hero works, they want it.
Knowing how to demo your product correctly is a skill every product developer should learn. You may be asked to demo your product at a trade show, for example, or on a video call with a potential licensee. Mike has demoed his product countless times, including on-air with QVC, at trade shows, and now at retailers.
In the video below, Michael discusses how he built his first prototype, licensed it to his first company, and is now working with a second licensee. He emphasizes the importance of training, perseverance, and branding in the home shopping industry, his journey towards branding success, and the pivotal role of licensing in product distribution.
His insight offers a roadmap for licensing your product into major retailers!
License Your Product: Insights from Successful Inventor Michael Van Horst
Selling on QVC & HSN — His Home Shopping Network Experience
Mike recounted his journey of launching his product on QVC and HSN, highlighting the challenges and benefits of these platforms. He emphasized the importance of training for inventors and discussed the rigorous selection process for QVC. Despite facing the COVID-19 pandemic, his product performed well, showcasing the significance of perseverance in the face of adversity.
From Prototype to Branding Success
From prototype development to branding and marketing, Michael shared the evolution of his product. He emphasized the power of belief in oneself and the product, navigating setbacks, and the crucial role of a positive attitude and support system in achieving success licensing your product.
License Your Product — Mike's Keys to Success
Transitioning from a Fortune 500 company to an inventor, Michael emphasized the benefits of licensing. He underscored the importance of branding and storytelling in pitching products, leveraging competitions and trade shows to gain traction. With a focus on retail distribution, Michael highlighted the advantages of partnering with licensing companies.
DirecTV Partnership and Distribution
The discussion extended to exploring potential partnerships with DirecTV for product distribution. Michael emphasized the importance of swift distribution and shared insights from his experience selling products through home shopping channels.
Overcoming Challenges in Development
Michael reflected on the journey of product development, emphasizing the importance of continuous learning and perseverance. Stephen Key stressed the need for self-branding and forming partnerships to overcome obstacles in the development process.
Manufacturing Processes and Promotion
Michael discussed manufacturing processes, highlighting the use of 3D printing for prototyping and the challenges of mass production. They emphasized the importance of licensing and leveraging social media platforms for product promotion. The conversation concluded with an emphasis on the ongoing pursuit of learning and collaboration in product development.
Conclusion
Michael's insights offer valuable lessons for licensing your product.
What did you think of this event? Let us know!
