AbsolutelyNew Blog

Invention Lessons from Guns N' Roses

You hear the buzz about Guns N’ Roses’ new hard rock album, Chinese Democracy?  The much anticipated and repeatedly delayed album has been in the making since just after the band put out its last original... in 1991. GNR fans are rejoicing about the new music that critics have described as everything from “audacious” to a wreck greater than the Titanic.

Why should you care?  There are three salient points for inventors:

1. Don’t wait 14 years to bring your invention to market.  The world changes far too fast. This album will likely sell big... but nowhere near as big as it would have had the band released the album when it was at its prime—not even 14 years of speculation will make up for an audience that’s largely moved on.  And let’s not forget, copyrights on music are a lot more long-lasting than patents on inventions, with the latter good only 14-20 years depending on the type of patent.

2. The only store carrying Chinese Democracy is Best Buy.  In fact, it’s the only bricks & mortar store granted rights to sell it.  So while GNR may not have been smart enough to release this album when it was in the best position to capitalize, its members were smart enough to realize that the future is all about special relationships with individual retailers... and iTunes... and they crafted the distribution strategy accordingly.  You too should think about distribution strategy—or get help from someone who will—as you develop your final launch plans.

3. Who’s the biggest winner in the launch of Chinese Democracy?  Dr. Pepper!  Yes, the soft drink maker many months ago—at a time when the album release was still far from certain—said it would give everyone in the U.S. a free soda if GNR actually released the album in 2008.  So sure enough, Dr. Pepper made as many if not more headlines than the band, and got such high volume to its website that its servers crashed.  I wouldn’t recommend you try to follow exactly in the Dr.’s footsteps, but also don’t be shy about looking for creative, opportunistic ways to market your invention.

Notes from SEMA

SEMA is the Specialty Equipment Market Association, and SEMA’s annual tradeshow in November truly drives (couldn’t resist) the aftermarket auto parts and accessories business.  So if you've got a invention that's in any way related to motor vehicles, this is THE place to be seen and heard.  Also, figuratively speaking, this year’s show was more consequential than ever because the industry is addressing several enormous issues including going green, going much higher tech, and the unknown fate of the Big 3 U.S. automakers.

What inventive stuff did we see and hear at SEMA?  Here are a few key observations from our Sales and Licensing gurus who were there:

• Green Machines. Sacrificing power to be green is so 2007, as a number of exhibitors displayed vehicles offering performance with low carbon footprints.  Thus we saw the E98-fueled, NASCAR-engined '68 Camaro, finished in water-based primer.  It’s supposedly going for the Bonneville land-speed record sometime soon.  And then there were the gigantic alt-diesel trucks like the "Vegistroke" Superduty, which runs entirely on used vegetable oil.
• Beyond green. All colors were out in force this year.  One of the biggest trends appears to be two-tone paint jobs.  We also saw a ton of color-matching wheels, with some of the wheel companies showcasing more colors than a Benjamin Moore store.  And for those folks looking for color beyond paint, five different companies exhibited vinyl solids and graphics for “wrapping” rides.
• In-Dash Systems. Aftermarket electronics companies have been hurting in recent years, but they’re looking to rev up sales again with an array of new in-dash systems.  These new systems seek to build on the success of iPods, Bluetooth, GPS, etcetera… and integrate them all together for easy use while driving.  Players are hoping that getting into the dash will also help them get back into the trunk, with amps, speakers, subwoofers, etc.
• Pony Car Wars. SUVs may be down & out this year, but not the ponies -- The Challenger and Camaro ruled SEMA, with Dodge Challengers practically everywhere and the Camaro dominating GM’s booth.  Meanwhile Ford used SEMA to launch its new Cobra Jet Mustang, a purpose-built drag car with a 5.4-liter V8, A/C delete, 9-inch rear end and a choice of a 6-speed manual or 3-speed automatic transmission.  Even Nissan tried to get in the muscle game, bringing 40 gleaming GT-Rs to SEMA.  This was viewed as being especially impressive given that fact that the GT-R has only been available in the U.S. for a few months, and that Nissan didn't exactly make this car easy to modify.

SEMA attendees -- what other New & Notable items did you see at The show?

Expose Yourself

Walked in someone else's shoes lately?

It’s a whole lot easier said than done, especially when you get wrapped up in advancing your invention.  But taking the time to view your surroundings from another vantage point can only serve you well.  So, what are you doing to expose yourself… to new people, cultures, thinking, and/or approaches?

As innovation junkies we like to follow Google, and as an emerging consumer goods company we like to follow Proctor & Gamble.  So we were especially struck by recent news that the two companies have initiated a series of employee exchanges, with Googlers descending upon P&G’s Cincinnati offices and the Pampers and Tide marketers hanging out in the halls (and free cafeterias) of Google’s HQ.

The two giants believe cross-pollinating their people and corporate cultures will make each organization stronger… and also better able to work with one another as P&G channels more ad dollars towards the web.

It’s too soon to draw conclusions on the tangible results and intangible benefits of these exchanges. But those are two companies filled with very smart people who like to measure everything, so we’re looking forward to hearing what they discover.

In the meantime, what are you doing to expose yourself, for the good of your invention?  Because you won’t likely find the answer on Google… unless you're P&G.

President Obama and your patent

Weeks ago... although it seems like a lifetime ago... we wrote of the two presidential candidates’ views on IP, patents and inventions.  Now that the American people have spoken, we wanted to go deeper on how the election will impact your invention.

So here’s precisely what President-elect Obama says he will do, in his words (courtesy of his website):

• Protect American Intellectual Property at Home: Intellectual property is to the digital age what physical goods were to the industrial age.  Barack Obama believes we need to update and reform our copyright and patent systems to promote civic discourse, innovation and investment while ensuring that intellectual property owners are fairly treated.
• Reform the Patent System: A system that produces timely, high-quality patents is essential for global competitiveness in the 21st century.  By improving predictability and clarity in our patent system, we will help foster an environment that encourages innovation.  Giving the Patent and Trademark Office (PTO) the resources to improve patent quality and opening up the patent process to citizen review will reduce the uncertainty and wasteful litigation that is currently a significant drag on innovation.  As president, Barack Obama will ensure that our patent laws protect legitimate rights while not stifling innovation and collaboration.

I’d personally been most intrigued by Obama's advocacy of a new "gold-plated" patent -- one that's less vulnerable to court challenge, if an inventor's willing to undergo a rigorous and public peer review instead of the standard PTO review -- however this stronger patent seems to have been removed from the Obama website.  Also MIA is any mention of a new "low-cost, timely administrative proceedings" process to determine patents' validity.  Hmmm.  Back-tracking... or narrowing the agenda in order to focus on the most pressing challenges?  What do you think?

Notes from Medtrade 2008

The annual Medtrade Show took place a few weeks ago – it’s the largest event for the U.S. home medical products industry, attracting thousands of attendees from around the world.  We love this show because it’s THE venue many choose to showcase the latest new products and services for providers of mobility, sleep diagnostics, orthopedics, occupational therapy and more.  And it’s also always nice to enjoy autumn in Atlanta.  Anyway, a few high level observations:

1. Home matters. The home health industry continues to grow, as people are increasingly seeking ways to get out of the hospital and back to their own homes... and insurance companies are more than happy to oblige because care at home is usually a lot less costly than hospital care.  Thus the industry is keen to find and advance any ingenious, new item that can help people get home and stay home – good news for inventors.
2. Insurance is key. If you’ve got a home health invention, you’ll want to learn how to get your invention OKed for Medicare and private insurance coverage – because they ultimately reimburse for home health items, a green light from them is essentially a green light on future sales.  An expert can help you here if you’re not familiar with how the insurance system works.
3. Hot wheels are in. Because insurance covers the latest wheelchairs and scooters, there’s a ton of activity in this space.  We knew to expect advances, but little did we know we’d see so many companies presenting 4-wheel drive, improved power steering, better suspension, more storage capacity... almost everything you’d expect from a new minivan except the third-row DVD player. (Click here for an example)
4. D2C is coming. Drug companies pioneered direct-to-consumer (D2C) advertising of products that require a doctor’s prescription, and the home health industry is now talking about following this model.  Insiders recognize that doctors are the gatekeepers, but they’re more apt to push what consumers demand.  Going D2C could have profound implications, creating far greater awareness (and sales) for everything in this space.

Target reinvents the gift card

 

You see the latest from the "cheap chic" folks at Target – a digital camera gift card?  That’s right, they've introduced a Target gift card that can be loaded with $50 to $1,000 of store credit... that also features a basic digital camera about as good as the one on your cell phone.  Details:

• Like with other cards, you choose how much store credit you want loaded onto the card.
• The camera is 1.2 megapixel with 8 MB of memory to hold 50 pictures. It runs on 3 AAA batteries.
• The camera / card comes with a USB cord, driver disc and voucher for 40 free prints at Target.

I'm not sure how truly useful the camera is, but it certainly has a Cool Factor that stands out from all the other gift cards out there.  And with the tough times this holiday season, standing out on Cool is definitely going to be hot.

So, will you be buying one?  Regardless, happy shopping.

What sparks you?

When my head’s clogged with ideas or I can’t seem to figure something out, nothing does me more good than a nice 8-mile run.  Twelve to 14 miles if it’s something really complicated, like curing world hunger or figuring out what my wife really wants for her birthday.

What works for you?  A few weeks ago I wrote about how napping and sleep are proven to help people connect thoughts and get to solutions that had proven elusive.  Ever since, I’ve heard of many different approaches, from running and walking to cooking (one inventor said chopping vegetables helps him clear his head) and ironing (no joke).

I’ve even heard from two of our licensed inventors – two guys who live in different states and don’t know one another – saying they were struggling to develop their respective invention... and then the design came to each of them when they were driving on the freeway.  Hmmm.

So, could it be that monotony sparks innovation – freeing the brain to think but taking up just enough brain power to keep you from getting too distracted?  I don’t know... but my driving’s pretty bad so I’ll stick to the running.

We’re number… six?

Do you know what nation is most receptive to innovations?

If you’re thinking the U.S., try again – a new study, published by Marketing Science, has concluded that the Japanese people are the fastest to adopt new technologies. Norway, Sweden, Holland and Denmark citizens follow... with Americans coming in 6th of 31 counties studied for their timely embrace of 16 products over 50 years.  Other interesting, and intuitive (with hindsight), tidbits from the study:

1. More affluent nations adopt innovative products faster than less affluent nations.

2. Newly developed or developing countries adopt innovative products faster than established nations that industrialized earlier. This point and the above should weigh in to where you launch your invention.

3. People adopt “fun” products like digital cameras faster than “work” products like home appliances… with an implication being you should launch your “fun” invention in many places at once, but your “work” invention in more limited geographies over time to reduce your risk.

Surprising?  I’m not the least bit shocked by the #1 – last year in Tokyo, I watched people using their cell phones to buy Cokes from vending machines – but the IKEA nation topping the U.S.?  Why do you think this is?

Friendly reminder: On this election day, make sure your voice is heard -- vote!