You may know that I've been a big Shopify fan for years. That's why I'm thrilled to tell you about one of the coolest contests for Entrepreneurs that I have ever seen. It's Shopify's 5th Annual Build A Business Competition.
The 5 winners will take a jet to Sir Richard Branson's private island to receive mentoring with Shark Tank's Daymond John among others.
This can be YOU!
Shopify’s 5th Annual Build A Business Competition just launched on Oct. 1, 2014 and you can sign up until March 31, 2015. If you are currently selling products online or are getting ready to launch, sign up for a beautiful Shopify store. The set up is amazingly simple and they have 24/7 support!
HOW THE CONTEST WORKS IN TWO SIMPLE STEPS:
Step 1: Create a New Store
Launch an online store with Shopify to enter the competition.
(Click HERE to get started)
Step 2: Compete to Sell the Most
Next, it's time to get selling. After the eight-month competition, Shopify will calculate your sales. If you sell the most during the competition...you will receive the grand prize.
To Make This Contest Even Sweeter...
After you've been flown to the island in an all expenses paid private jet (yes, it's true!), you will receive Mentoring from Sir Richard Branson, Founder of Virgin Airlines, Daymond John, of ABC's SharkTank, Maria Forleo, TV Host and Tim Ferriss, investor and author of The 4-Hour Work Week (one of my favorite books).
In Case You Haven't Heard...
I featured Shopify in my recent book, Amazon's #1 Top Selling, The Mom Inventors Handbook: How to Turn Your Great Idea into the Next Big Thing! (2nd Edition) because Shopify is the leading platform for opening your own online store. Their platform lets you quickly and easily create your store, without all the technical work involved in developing a website, or the huge expense of having someone else build it. With hundreds of apps, themes, and free 24/7 Support, you'll see why Shopify is the most powerful solution for creating your own online store.
We've Teamed Up to Save You Money
I'm pleased to announce that we've teamed up with Shopify to offer you (my fans and followers) 10% off if you set up a Shopify store now. Here's the link to receive your discount.
If you win Shopify's 5th Annual Build A Business Competition, I will feature and promote you to all my social networks to celebrate your success. Be sure to take photos on the island!
Seriously, what are you waiting for?
Tamara Monosoff is passionate about helping entrepreneurs achieve their goals. She's an award-winning inventor, social entrepreneur, best-selling author, educator, speaker, and founder of TamaraMonosoff.com. Tamara has placed her own products in over 10,000 retail stores, catalogs, e-tailers, and on QVC.
Kaylee Wickline is the founder of PottyWiz, the only multi-functional and transitional potty training chair that accommodates the special needs of both girls and boys.
Kaylee's product just launched and is getting great media attention! We asked Kaylee to share her story about how she brought the PottyWiz to market. It's been a bumpy journey but she is now well on her way!
Mom Invented: What inspired you to create the PottyWiz?
Kaylee: I started potty training my son at 18 months and it was stressful for him and unnatural. Most products on the market are designed as unisex seats for boys and girls to urinate sitting down. There is nothing on the market that accommodates a young boy's anatomy and helps him transition from sitting to standing.
When my son was sitting his pee would surpass the urine shield and run all over the floor. He wanted to stand.
I thought that there needs to be a product that makes this process easier for boys and allows them to potty the way that nature intended without the additional stress. I wanted the PottyWiz to keep pee off the floors and make it easy for moms and dads to clean. I also wanted to design it so that it could be easily used for girls too.
Mom Invented: What has been the biggest challenge you have experienced bringing the PottyWiz to market?
Kaylee: Every day is filled with a new challenge. First our biggest challenge was creating the product. Now it's securing funding to cover production costs. (Check out Kaylee's KickStarter Campaign). It's been especially hard for me and my husband who have no experience in product development. As difficult as it can be at times, it's not unattainable and I think that's been my biggest surprise.
People tend to think that they are too small for such a big endeavor and that they will never be able to make it happen. They think that seeing their product on the shelves is only a dream. I'm here to tell you that you CAN make it happen if you simply believe in yourself and your idea and refuse to quit. If you don't know an answer, Google it. If you don't have the money, find it. If you don't know how to tackle a task, find someone that does or that can guide you. The world is full of possibilities. It's not unattainable - JUST GO FOR IT!
Mom Invented: What advice would you like to share with other aspiring entrepreneurs?
Kaylee: The most valuable piece of advice I can give to someone is, as Dory in Finding Nemo says,"Just keep swimming!" Be mentally prepared for the journey ahead and know that like everything, it's a process and it's going to take lots of time, energy and money. When one door closes, don't stare at it - move forward! Not everyone is going to like your idea. Not everyone will think it's worth what you think it is. But if you've done your due diligence and make an educated decision that this idea or this business is worth moving forward with, never give up.
Thank you Kaylee for sharing your story with us!
You can learn more about PottyWiz here
Are You Ready to Turn Your Great Idea into the Next Big Thing?
The Mom Inventors Handbook (2nd Edition) will help you get your brilliant idea onto store shelves!
- Find similar existing items in stores and catalogs. Identify the price range and estimate your product retail price within that range (Remember: consumers are price sensitive and product entrepreneurs often think that people will pay more for their unique item. Think again.).
- Estimate the cost to produce your product. Remember that your production cost should be 1/5 or 20% of the retail price. (For example: If your product retails for $10 ideally your production costs should be at or below $2.00 ($10/5=$2.00).
- Ask consumers what they will pay. Gather this critical information by hosting focus groups, surveys and interviews. (Note: don’t just rely on feedback from friends and family.)
- Ask retailers how much they think the item could sell for at retail. (Remember: small, local stores are often-times a great resource for gathering this information because the owners or managers are nearly always there).
- Do simple math. (Trust me… If I can do it…You can do it!)
You Sell Wholesale
You Sell Wholesale
Retail Price paid by customer
Retail Price paid by customer
Wholesale price paid to you by retailer per unit.
Paid to distributor by retailer per unit.
|–––––||$7.00 Distributor pays you $7.00.|
The production cost that you pay your factory per unit.
|$4.00 The production cost that you pay your factory per unit.|
|You earn $6.00 Gross Profit Margin(60% Gross Margin).||You earn $3.00 Gross Profit Margin(43% Gross Margin).|
What is your income goal for this product?
For example, if you want to make $100,000 annual gross profit margin from this product and let’s say that you are working with a distributor and earning $3.00 gross profit margin per unit for this item, than you will need to sell 33,333 units annually to meet your Gross Revenue goal. ($100,000/$3.00= 33,333 units annually).
If on the other hand, you are selling the item to retailers yourself and want to make $100,000 annual gross profit margin from this product; and, let’s say that you are earning $6.00 gross profit margin per unit for this item, then you will need to sell 16,666 units annually to meet your Gross Revenue goal. ($100,000/$6.00= 16,666 units annually).
I hope this information serves you well. Here's a free download of this post: How to Set the Retail Price for Your Products
P.S. If you need more support, please join me! New Power Mentoring Programs begin on September 22 and October 21. Click HERE to learn more and make sure to add your name and email in the opt-in box (right side of screen) so that you’re the first to hear announcements and news about upcoming programs.
P.P.S. Check out my YouTube.com/Monosoff Channel for great how-to videos for Entrepreneurs. If you like what you see... please SUBSCRIBE!
This is it! I am doing something CRAZY and I will never offer this deal again. The self-paced Power Mentoring II program will ROCKET you forward no matter where you are in the product development process whether you are just beginning, or you've been trying to take your sales to the next level.
I am so sure that you will benefit from this program, that I am offering you a 30-Day 100% refund if you are not fully satisfied with what you learn.
In addition to the step-by-step video modules (see below), you will receive the new edition of The Mom Inventors Handbook and The Ultimate Workbook for Product Entrepreneurs (FREE SHIPPING).
You will receive ALL of this for only $197! << Over $400 savings << Grab it now before I change my mind! (Note: Supplies are truly limited. See warning below).
This is a proven system that will help you get on track to achieve your dreams once and for all!
The seven video tutorials below are organized, packed with resources and valuable step-by-step information. Here's what you'll learn from the online VIDEOs:
Module 1: Getting Started with Market Research (even if you think you already did this, you will be surprised by what you will learn)
Module 2: Prototyping, Safety, Manufacturing
Module 3: Patents, Trademarks & Copyrights
Module 4: Funding: Getting the Money!
Module 5: Branding, PR & Marketing Tools You will LOVE!!!
Module 6: Selling (Retail, Catalogs, Daily Deal Websites, QVC and more)
Module 7: Licensing (how it works and how to prepare to get a "deal.")
BONUS: Business Basics: Resources you can't live without.
VALUE YOU ARE RECEIVING:
- Self-paced Power Mentoring II Program (Value: $597)
- Mom Inventors Handbook & Workbook (Value: $30) Total Value: $627
INSANE SALE: $197 << While supplies last! CLICK HERE
WARNING: Expires: Friday, May 23 at 12:00 pm Pacific. I only have a limited supply of books and workbooks available. Once they are sold out, I will have to close the door immediately.
Go for it!
P.S. "I can't change the direction of the wind, but I can adjust my sails to always reach my destination." -- Jimmy Dean, Country Western Singer
The free LIVE webinar yesterday was awesome! In the first half we talked about market research (it's not difficult if you know how to find the answers), funding (I shared the name of the micro-lender that loaned me $25,000 early in my business), realistic (not pie in the sky) sales planning, and how to use marketing tools to "blow your horn" about your business! But... the best part were the questions from participants that I think you'll benefit from the most.
“The LIVE chat was great! Very informative, succinct, like the bullet point highlights of key, most important information.” – Carrie U.
“Thanks for a great webinar! I’m thrilled to have new sites to connect to.” – Laurie C.
Click HERE to watch the video replay.
“Tamara, thank you for the incredible Power Mentoring Program! Thank you also for believing in me, seeing the potential of my product, offering your candid feedback, helping me craft a “wow” factor email, and introducing me to a key big box buyer. I had my meeting and they want to distribute Luv-Chicken to their stores nation-wide by December 2014!”
If you want to make your dream a reality, join me for the LIVE Power Mentoring II program (Begins June 2). Together we will focus on your business. Click HERE for the details. I just added a $400 off discount. There's a payment plan too. Let's make it happen for you.
If you can't make the live class, the second best thing is the Self-Paced Power Mentoring II Program that I recorded for you. All the information is available in a digestible format that provides the perfect road map from idea to SALES. And, I'm extending the $200 off discount until this Monday, June 19th. Honestly, this price is ridiculously low but I want you to have access to all the course content to accelerate your success. So what are you waiting for? Take advantage while you can. Click HERE to get started now.
MEDIA UPDATE: Thanks to the support of my publisher, McGraw-Hill, and the fabulous team at Pitch Public Relations, I will be flying to New York once again. I'm THRILLED to be a guest on...
"Money with Ali Velshi" on May 28th at 7:00 pm Eastern. I hope you'll tune in! And, I'm looking forward to taping a TV segment with FOX EXTRA (Broadcast out to 60 Countries!) and Good Day Street Talk (I'll update you on show times). We'll be talking about the new edition of The Mom Inventors Handbook: How to Turn Your Great Idea into the Next Big Thing.
I know the topic of Margin Calculators doesn't exactly conjure up feelings of excitement BUT... doesn't the idea of generating a PROFIT from your product business thrill you? That's why I made this tool. This 12-minute video tutorial will walk you through how it works. You DO NOT need to be good in math to use this calculator. If I can do it, you can do it. Click HERE to watch the video. If you'd like a copy of the margin calculator that I use in the video, you are welcome to get a copy HERE.
Congratulations to Melody Furr for winning the "Name my Webinar" Contest. She will receive a one hour mentoring session with me.Thank you to ALL who submitted fabulous ideas. I enjoyed reading each one. The free webinars will be announced soon.
P.S. "Take the first step in faith. You don't have to see the whole staircase. Just take the first step." -- Martin Luther King Jr.
Watch VIDEO: Learn How to Set Your Product Pricing so that There is Enough Profit Left Over For You!
Complimentary 12-minute video tutorial to help you set the "right" retail price for your product from the start.
There are key questions that you need to ask yourself when bringing a product to market:
“How do I set the wholesale price of my product?”
“How do I price my item for a retailer?
“How do I price my item if I add a distributor?”
And, after everyone gets a piece of the pie, “Will consumers buy your item at the price point you’ve selected?”
These are good questions! In fact, these questions may be the most important questions you can ask because the last thing you want is for everyone else to make money from your product except for you. That is a surefire way to go out of business. And, it is completely preventable if you know what to do!
Don't panic when you see the spreadsheet!
This is for not-so-math-savvy entrepreneurs (like me) which is why I love it. Once you plug in your numbers, it calculates the retail price for you. This is the actual tool I've been using for years to establish product pricing. I hope this video tutorial serves you well. Let me know what you think.
You certainly can create your own spreadsheet. However, if you want this Margin Calculator, you are welcome to purchase it HERE.
If you like what you've learned here, this barely scratches the surface of what you'll get from the LIVE Power Mentoring II Program (begins on June 2nd). Learn more about the program HERE.
Are you TOO BUSY to take the live classes but you still want to benefit from the information and step-by-step guidance? The great news is that you can. And, the Self-Paced Power Mentoring II Program is a FRACTION of the cost. I've recorded ALL of the classes and posted them in a private members area so that you can listen at any time that works best for you 24/7. Learn more HERE.
You can do this! Journey On,
What surprises me the most is that it only takes one small shift to dramatically transform the direction of our lives so that we have more wealth, health and happiness as they are all inter-connected.
What's even more interesting is how long we are willing to stay stuck -- sometimes for years. Have you ever experienced this? Have you ever made a shift and then said to yourself "Why didn't I do this five years ago?" I know I have. Sometimes, I've held on so hard to something that wasn't working with the false hope that the outcome would be different if I just kept on trying.
My 10-year-old daughter recently wrote a report for her 4th grade class about Amelia Earhart, The first woman pilot to fly solo around the world. We were struck and inspired by her bravery. I laughed when I read the simplicity of her words:
"The most effective way to do it, is to do it."
-- Amelia Earhart
Now, you may not be planning to fly around the world, but you can "fly."
The Power Mentoring Program is more than bringing a product to market or taking your business to the next level. It's about making a shift and changing the outcome.
What is your private wish or personal dream for yourself?
The question is, Are you willing to make a shift?
Acclaimed author ANAÏS NIN reminds us...
"Life shrinks or expands in proportion to one’s courage."
I'm here for you every step of the way. Are you ready? Register for the LIVE Power Mentoring Program HERE (begins on June 2nd).
Learn more about the Power Mentoring Program HERE.
Are you too busy to take the live class but you still want all of the incredible information and step-by-step guidance for a fraction of the cost? If you answered YES, than the Self-Paced Power Mentoring II Program is for you. I've recorded ALL of the classes and posted them in a private members area so that you can listen at any time that works for you 24/7. Learn more HERE.
Let's do it!
P.S. QUESTIONS? I welcome questions about the program. Email me: firstname.lastname@example.org and put "Mentoring" in the subject.
Welcome to Mom Invented!
Welcome to our vibrant community of mom entrepreneurs and small business owners. Our site is full of action, information and inspiration. Please join us!
Our mission is to: "Inspire, Inform & Boldly Promote Courageous Women in Business." One of the most powerful ways to take charge of your life is to gain knowledge. Mom Invented® offers books, powerful mentoring programs, and inspiring feature mom stories to help support you on your way to creating and growing a business and life that you love.
Here’s what’s cooking at Mom Invented®…
Get the Support & Advice You Need to Grow Your Business NOW!
Click on the link to learn about upcoming "Power Mentoring Programs".
As many of you know we have an AWESOME PR Program through our partnership with Pitch Public Relations. If you are ready for dramatic results, sign up and watch the media embrace your story and product like you never imagined possible! Those who have signed up have experienced great success including hits with The Today Show, Family Circle Magazine, American Baby, DailyCandy.com, Woman's World Magazine, Better TV and much more! We have only a few more openings for the February 2011 campaign. Don't miss YOUR chance to be in the spotlight.
As always, I want to hear from you. Jump on over to my mentoring website TamaraMonosoff.com to get free training and information to launch and grow your product business. You can meet me at Twitter and the Mom Invented Facebook Fan Page too! Please join me in whatever way works best for you. Thank you for being a part of this vibrant community.
I'm thrilled to share some news with you. For the past nine months, I've been writing the NEW, updated and interactive second edition of the best-selling, Mom Inventors Handbook: How to Turn Your Great Idea into the Next Big Thing. It officially launches this week!
It is jam-packed with up-to-date resources and information that will blow you away. I have included absolutely every valuable resource I can give to accelerate your success.
This book provides a step-by-step road-map to take your product idea from concept to flying off of store shelves. There are an abundance of new opportunities and I want you to know what they are and how to use them.
All of the chapters are NEW in the book. Here are just a few highlights:
- Manufacturing: You will learn what questions to ask, choose the best materials, set the correct price, as well as the names of proven factories both in the U.S. and overseas (generously shared by the entrepreneurs featured in the book).
- Funding: There are an abundance of resources today to fund your business without going into debt: including crowd-funding, fast online loans, and non-profit micro-lenders. (I used some of these resources to fund my own business).
- Selling: You will know how to sell to retailers, catalogs, distributors, daily deal websites, television retailers, and more! I share the names of the distributors and catalogs that catapulted my business to the next level of success. It took me two years to land these accounts; some of which don't even show up in Google searches so I provide them for you in the book.
- Video Marketing: You will learn how to use both on and off-camera techniques to create captivating videos as well as do-it-yourself PR to get the word out about your product. Here's the video I made in my garage two weeks ago introducing the book. If I can do it, you can do this too. Click to watch 4 minute video.
Personal Stories Will Inspire You:
The best part is that I'm featuring over 50 entrepreneurs, most of whom used the first edition to successfully bring their products to market. You will LOVE their personal stories. The book is interactive and you can scan their stories with your SmartPhone -- I teach you exactly how to do this -- to watch the videos that they made especially for YOU. They share the challenges they've faced, the rewards of starting a business, the thing that has surprised them the most and one piece of valuable advice. You are going to LOVE these stories. I find myself watching them again and again because they touch and inspire me every time.
Hear what one such entrepreneur wrote:
"When I had the idea for Carry-Her Doll Carriers and found The Mom Inventors Handbook (1st Edition), I couldn't put it down! The stories in the book about other mom inventors inspired me and I realized that 'I can do this too!' I'm on track to sell 85,000 units this year with my new placements in Toys "R" Us, FAO Schwartz and Walmart for the holiday season! P.S. I was just reminding my husband of the day I read your handbook...I told him that night that I'd be in your next edition." -- Roberta Wagner
Already on the Journey?
The book is also perfect if you have already launched your business but need help getting to that next level of sales success. The sales chapter is packed with specific how-to information. In fact, I had to divide it into four parts so that you can easily digest the steps and hit the ground running.
Get AWESOME Bonuses!
If you purchase a copy of The Mom Inventors Handbook (2nd Edition) this week... you are going to get AMAZING gifts and you will be automatically entered into a drawing to win a Kindle Fire HD and my new self-paced Power Mentoring Programs. The Drawing will be held and winners announced on Friday, April 4th at 9:00pm Pacific/12:00 Midnight Eastern. All you have to do is follow three simple steps. Click here to get started! Or go directly to: http://www.TamaraMonosoff.com/bonuses. You are going to love these prizes!!!
Give a Gift that Matters...
Nothing shows how much you care more than supporting someone else's dream. If you have a friend or family member that has been struggling with getting her/his product ideas off the ground, this book will show her exactly the steps to take but most importantly it shows that you care and support her dreams.
I love what Karen Walker, creator of Swagger Tags said about receiving the first edition as a gift...
"I had no background in developing a product, so I didn't know where to start. I had read a few business books, but didn't find them very helpful. My sister-in-law gifted me The Mom Inventors Handbook and I didn't start reading it right away because I thought it was just another ra-ra inspirational book for women with not much useable information. When I did pick it up in earnest, I quickly realized how wrong I was. It was just what I needed: no fluff, just chapter after chapter of great, relevant and inspirational information. I went from having no clue where to start, to putting together an action plan for my product Swagger Tags."
Imagine...Karen felt this way about the first edition and the second edition blows the first edition out of the water!
With heartfelt thanks and appreciation,
Need Help Selling Your Products to Retailers? Now You Can Have Access to the Top U.S. Retail Store Contact List!
When bringing our product ideas to market, we often focus so intensely on creating the product that we overlook, or put off planning for, the single most important step – selling.
"This information is HUGE! Thank you so much! When I opened it up, I was in awe and all I could say was WOW!!" -- Toni H.
Large product companies must go through the exact same sales process you need to follow: calling the buyer, sending samples and convincing them to try their new items. But they KNOW WHO ALL THE LARGE RETAIL CHAINS ARE.
So, what if you had, in your hand, a list of over 175 top retail chains across North America—that include over 285,000 stores broken down by category?
- Grocery, Drug, Convenience Chains & Clip-Strip Distributors
- Mass Merchants & Department Stores
- Office Supply
- Arts & Crafts
- U.S. Military-Based Retailers
- Leading Television Retailers, Catalogs, & Etailers.
"I think the list's value is well over $100!" -- David H.
Of course, you can create this list yourself. I have been in this business for nearly 10 years and it took me and my team over 60 hours to create this list (and we knew exactly what we were looking for!). There are many 100+ store chains on this list I NEVER EVEN KNEW about.
In addition to providing the list of retail chains with the address, website and phone numbers, in some cases we were able to provide LinkedIn addresses for actual category buyers.
Selling your product to just one of these chains could change the entire course of your business… and your life.
"The spreadsheet looks terrific and will be a tremendous help!"
-- Chris and Sue S.
When you purchase the list, it will be sent to your inbox. Look for the tabs at the bottom (see image below). Click on the tabs to view the contact information by category. For example, if you want to sell your products to mass grocery store chains (see below), you can see that the contact information is right at your fingertips. You can easily print the contact list too.
Kick off the New Year by generating product sales through major retailers! This practical tool will help you plan who to target first. And, if your product is already on the market, you will see opportunities on this list that you may have never previously considered.
My goal is to provide you with tools and knowledge to help you succeed faster.
I want to hear from you! Please share your success stories with me.
Get this HOT LIST NOW!