© 2005 wordlock,llc private & confidential t.basche the art and market of everyday things...

© 2005 WordLock,llc Private & Confidential T.Basche

The Art and Market of Everyday Things

T.BascheT.Basche

Curiosity Club May 2Curiosity Club May 2ndnd 2006 2006


Introduction

Product designer for 20 yearsProduct designer for 20 years Hardware: Pr1me, HP, Computervision, Apollo, MIPS, SUN, Hardware: Pr1me, HP, Computervision, Apollo, MIPS, SUN,

VisioneerVisioneer Software Visioneer, Remedy, Logictier, Apple, MacrovisionSoftware Visioneer, Remedy, Logictier, Apple, Macrovision

Always was inventing Always was inventing Have had a notebook for 30 yearsHave had a notebook for 30 years I write my ideas down tracking the thought processI write my ideas down tracking the thought process

Inventing is the creative starting point for all product Inventing is the creative starting point for all product developmentdevelopment


Look where they Ain’t

Sand Hill road and all the brain cells are focused on :Sand Hill road and all the brain cells are focused on : RUBY on RAILS open source environmentsRUBY on RAILS open source environments Web 2.0 ApplicationsWeb 2.0 Applications WirelessWireless Social NetworkingSocial Networking Broadband deliveryBroadband delivery Blogs and blog search engines and feedsBlogs and blog search engines and feeds

Think of how much $$$ and IQ Power is focused on Think of how much $$$ and IQ Power is focused on those areas.those areas.


“The lights better over here” Many traditional markets are dominated by OLD Many traditional markets are dominated by OLD

companies.companies. Companies that have not innovated in decadesCompanies that have not innovated in decades Companies that do not attract the best and brightestCompanies that do not attract the best and brightest

These markets are enormous :These markets are enormous : Pet Products Pet Products $40B$40B Power Tools Power Tools $25B$25B Promotional Products (PPAI) Promotional Products (PPAI) $20B$20B (yes, $20B in tshatshke’s) (yes, $20B in tshatshke’s) Mechanical Locks Mechanical Locks $5B$5B

There is a huge untapped market in applying state of the art:There is a huge untapped market in applying state of the art: Creative thinkingCreative thinking Design techniquesDesign techniques Marketing and positioningMarketing and positioningIe. Real innovation to all of these old, markets and products.Ie. Real innovation to all of these old, markets and products.


By the numbers..

75% of the people I talk tell me “I have this idea…”75% of the people I talk tell me “I have this idea…” 97% Of all patents filed do not recover the cost of filing.97% Of all patents filed do not recover the cost of filing. $500M/Year is fleeced from Inventors by Promotion firms.$500M/Year is fleeced from Inventors by Promotion firms. File a Patent = $15K USA Only + $30K EuropeFile a Patent = $15K USA Only + $30K Europe

Office actions, adjustments of claims, etc…Office actions, adjustments of claims, etc… How long from filing to issue ?How long from filing to issue ?

Trademark $3K USATrademark $3K USA A good license deal yields 5% of retailA good license deal yields 5% of retail Taking a consumer product to market as a company Taking a consumer product to market as a company

takes $300-500K in working capital. takes $300-500K in working capital.


The One(s) that Got Away

Go=>Gurt 2000

SeaWatch 1995

Sun-Watch 1984 Sun-Watch 1984

Yo-Go 1986 Yo-Go 1986


The One(s) that Got Away

Digital Tuner 1979 Digital Tuner 1979

Color changing Color changing Sunscreen 1990 Sunscreen 1990

1990

Avon and Coppertone 2001


The Idea is only the beginning

Elevator PitchElevator Pitch Market segmentationMarket segmentation Detailed understanding of the CompetitionDetailed understanding of the Competition Analysis of Manufacturing costsAnalysis of Manufacturing costs Prototypes (yes you need one)Prototypes (yes you need one) Sell SheetSell Sheet Marketing and Positioning of your productMarketing and Positioning of your product How your product is differentiatedHow your product is differentiated Intellectual Property Protection strengthens position Intellectual Property Protection strengthens position

but not required.but not required.


Shelly Hunter, Mom=>Inventor

Shoe Clues Cure Bears

Library Reminders

Warm Inward


Stephen Key, Full Time Inventor

Over 20 products licensed.Over 20 products licensed.

Rotating Label => 8 Patents used worldwide

Shipped on 300M products world wide.


Stephen Key

Guitar pick market dominated by two vendors.Guitar pick market dominated by two vendors. Size of Market is $200M worldwide.Size of Market is $200M worldwide. No innovation in 100 yearsNo innovation in 100 years Stephen came in and built a $5M business in 3 years.Stephen came in and built a $5M business in 3 years. Distributed in over 5000 stores worldwide.Distributed in over 5000 stores worldwide.


Once there was a pool fence…


Original Elevator Pitch

WordLockWordLock®® is a next generation is a next generation combination lock that enables kids combination lock that enables kids and adults to set the combination and adults to set the combination using words that are easier to using words that are easier to remember and more fun than remember and more fun than numbers.numbers.


Original Renderings


Concept was Extendable

Padlocks, luggage, luggage locks, bike locks, ski locks, Padlocks, luggage, luggage locks, bike locks, ski locks, kids banks, laptop locks…kids banks, laptop locks…

Theme products :Theme products : Movie WordsMovie Words SportsSports AnimalsAnimals

Languages :Languages : Can be in local languagesCan be in local languages


A long and winding road…. Idea in Notebook January, 1998Idea in Notebook January, 1998 Patent filed: October 1999Patent filed: October 1999 Drawings of Prototype: March 2000Drawings of Prototype: March 2000 Turned down by Masterlock: March 2000Turned down by Masterlock: March 2000 Lost Momentum: 2001Lost Momentum: 2001 Had prototype built : 2002Had prototype built : 2002 Cold Called: Struck out 2002Cold Called: Struck out 2002

Advice: Know your market (Padlock, Bike Lock, Laptop , ….)Advice: Know your market (Padlock, Bike Lock, Laptop , ….) Patent issued September 16Patent issued September 16thth, 2003, 2003 Contract signed with STAPLES June 25Contract signed with STAPLES June 25thth 2004 2004 On store shelves June 20On store shelves June 20thth 2005, Now in 2000 stores. 2005, Now in 2000 stores.


Look for Markets that are large and lack innovation.Look for Markets that are large and lack innovation. Validate size of target marketValidate size of target market

Brainstorm ideasBrainstorm ideas Validate not already in the marketValidate not already in the market Develop product conceptsDevelop product concepts Produce prototypes, Sell sheet and pitchProduce prototypes, Sell sheet and pitch Track down market leaders and contacts within them . Track down market leaders and contacts within them .

(sales not dev or prod marketing)(sales not dev or prod marketing) Cold Call and pitch idea Cold Call and pitch idea (Yes always better with introductions)(Yes always better with introductions)

The License Process :

Get to prototype as quickly as possible, Get to prototype as quickly as possible, present product and get feedback quickly. present product and get feedback quickly. Go/no go and move on.Go/no go and move on.


In the pipeline :

Wrestle WordLock away from STAPLES and license Wrestle WordLock away from STAPLES and license more broadly.more broadly.

Rice Rockers (talking to General Mills and Mattson)Rice Rockers (talking to General Mills and Mattson) Two new innovative locker locks (Built-in)Two new innovative locker locks (Built-in) Easy-HangerEasy-Hanger Childs Cup-NightlightChilds Cup-Nightlight


Easy-Hanger

Easy HangerEasy Hanger

• One touch

• Patentable

• Consumable Cartridge of hooks

• Lighted-tip

•Just press and hang.


What’s Next…

VC’s now starting to see the potentialVC’s now starting to see the potential Evergreen IP founded just to back inventorsEvergreen IP founded just to back inventors

Researching a new product line for BoomersResearching a new product line for Boomers


Questions ?


Rice Rockers™

Puffed Rice molded into cylinders 4” long.Puffed Rice molded into cylinders 4” long. Molds hold the rice and heat it till it puffs, and it puffs into the mold in the Molds hold the rice and heat it till it puffs, and it puffs into the mold in the

shape of a cylinder with a hollow core.shape of a cylinder with a hollow core. Rice can be White, Brown, Jasmine etc.Rice can be White, Brown, Jasmine etc.

Filled with healthy fillings as a ready made snack.Filled with healthy fillings as a ready made snack. Peanut ButterPeanut Butter Red Bean PasteRed Bean Paste Fig JamFig Jam Sesame Seed PasteSesame Seed Paste Combinations : Peanut butter and Chocolate. Combinations : Peanut butter and Chocolate.


Rice Rockers™ Visuals

© 2005 wordlock,llc private & confidential t.basche the art and market of everyday things...

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