hi I’m Evan Carmichael welcome to another edition of ask Evan in today’s
another edition of ask Evan in today’s
another edition of ask Evan in today’s episode I’m going to answer a question
episode I’m going to answer a question
episode I’m going to answer a question from one of my newsletter readers Kim
from one of my newsletter readers Kim
from one of my newsletter readers Kim who has a cat toy idea and wanted to
who has a cat toy idea and wanted to
who has a cat toy idea and wanted to find out how she can sell to the major
find out how she can sell to the major
find out how she can sell to the major cat toy manufacturers or companies to
cat toy manufacturers or companies to
cat toy manufacturers or companies to help them you know launch her company so
help them you know launch her company so
help them you know launch her company so she wanted my advice on how to do it you
she wanted my advice on how to do it you
she wanted my advice on how to do it you think she has the next great cat toy and
think she has the next great cat toy and
think she has the next great cat toy and wanted some help on how to make this
wanted some help on how to make this
wanted some help on how to make this company take off so Kim thanks to the
company take off so Kim thanks to the
company take off so Kim thanks to the question a couple things for you and in
question a couple things for you and in
question a couple things for you and in terms of getting on the radar of a lot
terms of getting on the radar of a lot
terms of getting on the radar of a lot of these bigger companies who are in
of these bigger companies who are in
of these bigger companies who are in your market the two things I would try
your market the two things I would try
your market the two things I would try to do one is look if they have demo days
to do one is look if they have demo days
to do one is look if they have demo days and not all companies will have this but
and not all companies will have this but
and not all companies will have this but a lot of them will well they’re they’re
a lot of them will well they’re they’re
a lot of them will well they’re they’re looking for new suppliers and they have
looking for new suppliers and they have
looking for new suppliers and they have a demo day that they’ll have everybody
a demo day that they’ll have everybody
a demo day that they’ll have everybody come in to a certain location could be
come in to a certain location could be
come in to a certain location could be their office it could be a hotel room
their office it could be a hotel room
their office it could be a hotel room and you pitch your idea you bring your
and you pitch your idea you bring your
and you pitch your idea you bring your product and you have five minutes to
product and you have five minutes to
product and you have five minutes to talk about you know what it is you’re
talk about you know what it is you’re
talk about you know what it is you’re doing and you know why they should
doing and you know why they should
doing and you know why they should partner up with you so it done I would
partner up with you so it done I would
partner up with you so it done I would look at the sea and try to get on their
look at the sea and try to get on their
look at the sea and try to get on their screen if if you know if they do have
screen if if you know if they do have
screen if if you know if they do have demo days if they don’t then you can
demo days if they don’t then you can
demo days if they don’t then you can start just contacting individuals at the
start just contacting individuals at the
start just contacting individuals at the company and try to find somebody who’s
company and try to find somebody who’s
company and try to find somebody who’s in your peer mentors on the purchasing
in your peer mentors on the purchasing
in your peer mentors on the purchasing side a website that you can use as
side a website that you can use as
side a website that you can use as jigsaw and there is you know lists of
jigsaw and there is you know lists of
jigsaw and there is you know lists of different people who are different
different people who are different
different people who are different companies you could search by company
companies you could search by company
companies you could search by company name and by position find the person you
name and by position find the person you
name and by position find the person you pay I think fifty cents a lead to get
pay I think fifty cents a lead to get
pay I think fifty cents a lead to get the the telephone number and email
the the telephone number and email
the the telephone number and email address and you can just start reaching
address and you can just start reaching
address and you can just start reaching up to some of these people in terms of
up to some of these people in terms of
up to some of these people in terms of what they’re going to look for it’s a
what they’re going to look for it’s a
what they’re going to look for it’s a good idea to have some momentum built up
good idea to have some momentum built up
good idea to have some momentum built up you don’t I wouldn’t recommend just
you don’t I wouldn’t recommend just
you don’t I wouldn’t recommend just going in cold not having anything beyond
going in cold not having anything beyond
going in cold not having anything beyond just an idea but trying to build up some
just an idea but trying to build up some
just an idea but trying to build up some momentum to give you some extra leverage
momentum to give you some extra leverage
momentum to give you some extra leverage and they’re more willing to listen to
and they’re more willing to listen to
and they’re more willing to listen to you and take you seriously so you want
you and take you seriously so you want
you and take you seriously so you want to kind of build up as much momentum as
to kind of build up as much momentum as
to kind of build up as much momentum as you can what I would try to do is
you can what I would try to do is
you can what I would try to do is produce some of this product try to get
produce some of this product try to get
produce some of this product try to get it in stores even local areas show that
it in stores even local areas show that
it in stores even local areas show that it can sell right she let people willing
it can sell right she let people willing
it can sell right she let people willing to buy it even on a small scale just
to buy it even on a small scale just
to buy it even on a small scale just having a little bit of sales will
having a little bit of sales will
having a little bit of sales will separate you from
separate you from
separate you from ninety percent of the other
ninety percent of the other
ninety percent of the other entrepreneurs who are pitching who just
entrepreneurs who are pitching who just
entrepreneurs who are pitching who just have an idea so that’s what you want to
have an idea so that’s what you want to
have an idea so that’s what you want to do we sit from the venture capital world
do we sit from the venture capital world
do we sit from the venture capital world that I come from most entren came in
that I come from most entren came in
that I come from most entren came in pitches never had any sales so just had
pitches never had any sales so just had
pitches never had any sales so just had a business plan idea and the ones who
a business plan idea and the ones who
a business plan idea and the ones who hide sales immediately you know our ears
hide sales immediately you know our ears
hide sales immediately you know our ears perked up and we got a little bit
perked up and we got a little bit
perked up and we got a little bit excited because if you can show you can
excited because if you can show you can
excited because if you can show you can make even a little bit of sales it
make even a little bit of sales it
make even a little bit of sales it separates you from almost everybody else
separates you from almost everybody else
separates you from almost everybody else so try to get a little bit of sales
so try to get a little bit of sales
so try to get a little bit of sales going on even it’s only on your local
going on even it’s only on your local
going on even it’s only on your local area to is try to build up momentum from
area to is try to build up momentum from
area to is try to build up momentum from there so as an example my website we
there so as an example my website we
there so as an example my website we have almost 7,000 people who write to my
have almost 7,000 people who write to my
have almost 7,000 people who write to my website and when we first started it was
website and when we first started it was
website and when we first started it was a bit of a struggle to get people to
a bit of a struggle to get people to
a bit of a struggle to get people to want to contribute content and I had a
want to contribute content and I had a
want to contribute content and I had a goal of wine and Donald Trump to be on
goal of wine and Donald Trump to be on
goal of wine and Donald Trump to be on my website and you know he was one of
my website and you know he was one of
my website and you know he was one of the biggest names in entrepreneurship
the biggest names in entrepreneurship
the biggest names in entrepreneurship but it didn’t go straight to Donald
but it didn’t go straight to Donald
but it didn’t go straight to Donald Trump what I did was I started on a
Trump what I did was I started on a
Trump what I did was I started on a smaller scale so i started local here in
smaller scale so i started local here in
smaller scale so i started local here in toronto and got people who i knew who
toronto and got people who i knew who
toronto and got people who i knew who were business coaches marketing experts
were business coaches marketing experts
were business coaches marketing experts to contribute content and then built up
to contribute content and then built up
to contribute content and then built up from there showed that we were able to
from there showed that we were able to
from there showed that we were able to get some traffic able to build up you
get some traffic able to build up you
get some traffic able to build up you know some some business benefits for
know some some business benefits for
know some some business benefits for them to be a part of it and it started
them to be a part of it and it started
them to be a part of it and it started going after bigger name people so we got
going after bigger name people so we got
going after bigger name people so we got Guy Kawasaki and and Seth Godin involved
Guy Kawasaki and and Seth Godin involved
Guy Kawasaki and and Seth Godin involved Tom Peters and we just started building
Tom Peters and we just started building
Tom Peters and we just started building up from there and by the time we were
up from there and by the time we were
up from there and by the time we were ready to go after Donald Trump we had
ready to go after Donald Trump we had
ready to go after Donald Trump we had lots of traffic lots of authors we had
lots of traffic lots of authors we had
lots of traffic lots of authors we had some big-name authors and so he was you
some big-name authors and so he was you
some big-name authors and so he was you know able to come on board and say yes
know able to come on board and say yes
know able to come on board and say yes because we had all this momentum built
because we had all this momentum built
because we had all this momentum built up behind us so that’s what you want to
up behind us so that’s what you want to
up behind us so that’s what you want to do as well you have that vision to go
do as well you have that vision to go
do as well you have that vision to go after the big company but start on a
after the big company but start on a
after the big company but start on a smaller scale show that your product is
smaller scale show that your product is
smaller scale show that your product is works in successful people love it and
works in successful people love it and
works in successful people love it and be able to build up from there and it’s
be able to build up from there and it’s
be able to build up from there and it’s going to be hard for those big companies
going to be hard for those big companies
going to be hard for those big companies to ignore you because you’ve had a track
to ignore you because you’ve had a track
to ignore you because you’ve had a track record of success the next thing we do
record of success the next thing we do
record of success the next thing we do to build momentum is try to get some
to build momentum is try to get some
to build momentum is try to get some viral marketing going especially with
viral marketing going especially with
viral marketing going especially with cats I would try to get a YouTube
cats I would try to get a YouTube
cats I would try to get a YouTube campaign going so have some cats you say
campaign going so have some cats you say
campaign going so have some cats you say your cat toys the best thing ever and
your cat toys the best thing ever and
your cat toys the best thing ever and the cats are playing it with it you know
the cats are playing it with it you know
the cats are playing it with it you know for hours on end so film cute cats
for hours on end so film cute cats
for hours on end so film cute cats playing with your toy and turn into a
playing with your toy and turn into a
playing with your toy and turn into a YouTube video and get people to watch it
YouTube video and get people to watch it
YouTube video and get people to watch it and look at it and then again if you can
and look at it and then again if you can
and look at it and then again if you can get a lot of views on your videos
get a lot of views on your videos
get a lot of views on your videos then the companies will take notice any
then the companies will take notice any
then the companies will take notice any of these videos with tons of views and
of these videos with tons of views and
of these videos with tons of views and cat video is trying to do well on
cat video is trying to do well on
cat video is trying to do well on youtube so if you especially really cute
youtube so if you especially really cute
youtube so if you especially really cute cats the production quality doesn’t have
cats the production quality doesn’t have
cats the production quality doesn’t have to be fantastic you do it yourself on a
to be fantastic you do it yourself on a
to be fantastic you do it yourself on a camcorder put some music on there and
camcorder put some music on there and
camcorder put some music on there and just try to build a little bit of viral
just try to build a little bit of viral
just try to build a little bit of viral marketing as well and then the last
marketing as well and then the last
marketing as well and then the last thing in terms of building up momentum
thing in terms of building up momentum
thing in terms of building up momentum is try to get some advisors so the
is try to get some advisors so the
is try to get some advisors so the companies might look at you and say okay
companies might look at you and say okay
companies might look at you and say okay one person show maybe it hasn’t done
one person show maybe it hasn’t done
one person show maybe it hasn’t done anything entrepreneurial before so
anything entrepreneurial before so
anything entrepreneurial before so that’s a risk but if you can get some
that’s a risk but if you can get some
that’s a risk but if you can get some advisors who have some business
advisors who have some business
advisors who have some business experience who can be a part of your
experience who can be a part of your
experience who can be a part of your company not in a formal way but just as
company not in a formal way but just as
company not in a formal way but just as an advisor then that adds a little bit
an advisor then that adds a little bit
an advisor then that adds a little bit more credibility to your company and
more credibility to your company and
more credibility to your company and again increases the chance that they’re
again increases the chance that they’re
again increases the chance that they’re going to want to work with you and say
going to want to work with you and say
going to want to work with you and say yes finally in terms of what they’ll
yes finally in terms of what they’ll
yes finally in terms of what they’ll need to you know make that deal happen
need to you know make that deal happen
need to you know make that deal happen from a from a structural point of view I
from a from a structural point of view I
from a from a structural point of view I would make sure that your cooperation I
would make sure that your cooperation I
would make sure that your cooperation I don’t know what your legal setup is but
don’t know what your legal setup is but
don’t know what your legal setup is but I would set up as a corporation and not
I would set up as a corporation and not
I would set up as a corporation and not a sole proprietor because you know you
a sole proprietor because you know you
a sole proprietor because you know you look like a really amateur company if
look like a really amateur company if
look like a really amateur company if you’re a sole proprietor instead of a
you’re a sole proprietor instead of a
you’re a sole proprietor instead of a corporation so make sure you get your
corporation so make sure you get your
corporation so make sure you get your legal structure right and then for the
legal structure right and then for the
legal structure right and then for the manufacturing if you are planning on
manufacturing if you are planning on
manufacturing if you are planning on doing it yourself then I make sure that
doing it yourself then I make sure that
doing it yourself then I make sure that you have the ability to scale that’s
you have the ability to scale that’s
you have the ability to scale that’s going to be a question that they’ll
going to be a question that they’ll
going to be a question that they’ll they’ll have you know if they’re not
they’ll have you know if they’re not
they’ll have you know if they’re not going to make it themselves as a rely on
going to make it themselves as a rely on
going to make it themselves as a rely on you to manufacture then they’re going to
you to manufacture then they’re going to
you to manufacture then they’re going to see that you have the capabilities to
see that you have the capabilities to
see that you have the capabilities to make not you know a hundred of these
make not you know a hundred of these
make not you know a hundred of these things but a million of these things how
things but a million of these things how
things but a million of these things how are you going to go from 110 million so
are you going to go from 110 million so
are you going to go from 110 million so you want to Q how some of those
you want to Q how some of those
you want to Q how some of those relationships lined up or some ideas at
relationships lined up or some ideas at
relationships lined up or some ideas at least on how to do it so hopefully that
least on how to do it so hopefully that
least on how to do it so hopefully that helped a lot of questions and a lot of
helped a lot of questions and a lot of
helped a lot of questions and a lot of answers here for you hopefully this some
answers here for you hopefully this some
answers here for you hopefully this some nuggets of wisdom in there you can use
nuggets of wisdom in there you can use
nuggets of wisdom in there you can use to grow your business is very exciting
to grow your business is very exciting
to grow your business is very exciting if you guys like the video for those
if you guys like the video for those
if you guys like the video for those watching please give it a thumbs up
watching please give it a thumbs up
watching please give it a thumbs up below makes me want to make more of
below makes me want to make more of
below makes me want to make more of these videos for you guys and if you
these videos for you guys and if you
these videos for you guys and if you have a question or if you want to leave
have a question or if you want to leave
have a question or if you want to leave a comment to share your experiences
a comment to share your experiences
a comment to share your experiences please leave it in the comment section
please leave it in the comment section
please leave it in the comment section below and we’ll see you on the next
below and we’ll see you on the next
below and we’ll see you on the next episode
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