If you haven’t heard of Joseph Enterprises, I can guarantee you’ve heard of one or more of their products – some of their more famous products include the Chia Pet, the Ove Glove, and the Clapper. It’s typical that products have a life cycle – but Joseph’s have had outstanding longevity. When Joseph Pedott considers adding a product to his line, what qualities does he look for?
“I accept probably one product out of a thousand I see. I need a product to have mass appeal. I look for inventions that are patentable – I need to know that I’m investing in an idea that is protected. I look for products that have a strong perceived value; they have a benefit, they improve some aspect of the consumer’s life. The product has to be trouble free. I want an item I can easily sell a million of. That means identifying that the product has a large market and will have a long shelf life. If I find that right item, we throw our full financial backing into it.”
Joseph’s long list of criteria has paid off. While other products come and go, his have stayed.
“Our products are unique. They’re not just a tweak on an existing product, but items that truly solve a problem. We’re looking for a star in the dark night – not just a passing blip. For example, the Ove Glove. Because it’s made of Kevlar (the same material that firefighter’s flame resistant clothing is made of), it can withstand more heat than any other kitchen glove. That’s a great benefit to the consumer.”
Although Joseph admits that finding a new product is sometimes like finding a “needle in a haystack”, his high standards have clearly paid off. His products are useful and make the consumer smile. Apply his criteria to your own product inventions.
Listen to the entire interview on the inventRight radio show here.
Stephen Key is a successful award-winning inventor who has licensed
over 20 products in the past 25 years. Along with business partner
Andrew Krauss, Stephen runs inventRight, a company dedicated to educating inventors about selling their ideas and the skills needed to succeed. You can ask questions and get advice on the inventRight forum, check out the resource center, and listen to the weekly radio show on inventing. Get In The News, list your invention to have media outlets find you for news stories.