So people submit their ideas and any unique, actionable ones will be developed while the creator is told that Hasbro was already working on it.
Hasbro are totally detached from their customers right now and need a team who are actually on the ball when it comes to product development and customer engagement.
I'm not submitting high quality ideas through a form, but I'm happy to work alongside Hasbro in turning things around.
Contributor to Forbes and Inc.; Co-founder of inventRight and Inventors Groups of America; Author of "One Simple Idea"; Host of inventRightTV; 2018-2019 AAAS-Lemelson Invention Ambassador
Contributor to Forbes and Inc.; Co-founder of inventRight and Inventors Groups of America; Author of "One Simple Idea"; Host of inventRightTV; 2018-2019 AAAS-Lemelson Invention Ambassador
Are you inventing for the toy industry? Wham-O has been in business for over 70 years, and they’re looking for new ideas!
While this industry presents incredible opportunities, it also comes with its own set of challenges.
Let me elaborate…
The other day, I spoke with an individual responsible for inventor relations at a toy company.
During our conversation, he shared his thoughts on the quality of ideas submitted by inventors, noting that they often fall short of expectations.
He expressed that there is room for improvement in the submissions he receives.
Reflecting on our conversation, I knew exactly what he meant.
The toy industry is one of the most difficult areas to license your idea, but there is a reason why.
Toy companies have sifted through countless product ideas over the last 50+ years, making it challenging to offer something truly original.
Getting to companies is not difficult, they need new ideas to thrive.
However, leading toy design firms submit beautiful 3-D prototypes, commercials, and packaging, setting an exceptionally high standard. Consequently, the competition is extremely tough.
The gentleman I spoke with was spot-on — to succeed in this field, you have to up your game.
As my former boss once said, “The toy industry is not child’s play.”
When I started my career at Worlds of Wonder, we launched Teddy Ruxpin and Laser Tag.
When I left World of Wonders to start my own company, I licensed my first toy idea, the Michael Jordan Wall Ball, to Ohio Art.
Interested in learning more about the toy industry and why I ultimately decided to move on? Check out my new video on inventRight's YouTube channel, inventRightTV.
https://lnkd.in/gvRM-FYz
You better love it, you better be in it for the long haul, and you better up your game!
#Toys#Industry#Challenges#Innovation#Licensing#Ideas#inventRight
INVENTORS and PRODUCT DEVELOPERS!
Here's a treat for anyone inventing in the Toys and Games industry.
First you have some wise words from Stephen Key, and second, you have a link to a 7-minute video from inventRight and company offering further counsel and finally, third, a brief video clip from Todd Richards, President of Wham-O inviting you to submit your ideas for Licensing.
Licensing is hard work as you know, and you need to learn what you need to learn, but, the lessons are out there if you follow the links made available to Inventors.
You just have to do it!
You just have to bring your good ideas to life!
Let's Invent!
Contributor to Forbes and Inc.; Co-founder of inventRight and Inventors Groups of America; Author of "One Simple Idea"; Host of inventRightTV; 2018-2019 AAAS-Lemelson Invention Ambassador
Are you inventing for the toy industry? Wham-O has been in business for over 70 years, and they’re looking for new ideas!
While this industry presents incredible opportunities, it also comes with its own set of challenges.
Let me elaborate…
The other day, I spoke with an individual responsible for inventor relations at a toy company.
During our conversation, he shared his thoughts on the quality of ideas submitted by inventors, noting that they often fall short of expectations.
He expressed that there is room for improvement in the submissions he receives.
Reflecting on our conversation, I knew exactly what he meant.
The toy industry is one of the most difficult areas to license your idea, but there is a reason why.
Toy companies have sifted through countless product ideas over the last 50+ years, making it challenging to offer something truly original.
Getting to companies is not difficult, they need new ideas to thrive.
However, leading toy design firms submit beautiful 3-D prototypes, commercials, and packaging, setting an exceptionally high standard. Consequently, the competition is extremely tough.
The gentleman I spoke with was spot-on — to succeed in this field, you have to up your game.
As my former boss once said, “The toy industry is not child’s play.”
When I started my career at Worlds of Wonder, we launched Teddy Ruxpin and Laser Tag.
When I left World of Wonders to start my own company, I licensed my first toy idea, the Michael Jordan Wall Ball, to Ohio Art.
Interested in learning more about the toy industry and why I ultimately decided to move on? Check out my new video on inventRight's YouTube channel, inventRightTV.
https://lnkd.in/gvRM-FYz
You better love it, you better be in it for the long haul, and you better up your game!
#Toys#Industry#Challenges#Innovation#Licensing#Ideas#inventRight
Editor-in-Chief: The Toy Book | Senior Editor: The Toy Insider/The Pop Insider | Founder, Publisher, & CEO: THE ROCK FATHER Magazine | Media Personality, Toy Expert+ | Consultant to the Toy & Entertainment Industries
Country Head of Global Payments Solutions at HSBC Philippines; Chairman, PESONet ACH Steering Committee; Digital Transformation Advocate; ISO20022 Champion
I am a Toy Collector.
It’s the golden age of toys, as established and new toy makers realized the significant commercial potential of catering for adult collectors.
According to a study by Market Decipher, the toy collectibles market was estimated at USD12.5 Billion in 2021 and is forecasted to reach a market value of USD35.3 Billion by 2032, growing at a CAGR of 10.1 %.
With so much digital content available, there is new and renewed interest in toys based on movies, series, anime, cartoons, games and even original characters made by toy designers.
Personally, the toys I collect are connected with my childhood. These bring me back to a time of pure happiness and endless imagination, a sort of escape from the realities of my life today.
The toy industry has to be monitored (maybe regulated) as it is prone to overproduction.
In March this year, the toy company Funko announced that it will dump USD30M of unsold products, across different themes. Maybe limited edition runs make sense after all. The problem (for me) is that it will drive up the price.
This is another “New Economy” that has emerged from the pandemic, complete with a primary and healthy secondary market.
These are the “Toys That Made Us”.
Disclaimer: those Swarovski figures are not part of my collection. Everything else are.
#neweconomy
👇🏻 I am going to tell you a real life story;
— It's about 'LEGO';
— Childhood revives when I hear "LEGO"!
Once LEGO struggled for its revival!
Yes, you have heard it right!
LEGO-the leading Toy Companies for years;
Things gone very well till 2000!
—In early 2000's, Video Games Market started!
—Also rise of other Toy alternatives!
In response; LEGO;
— Adopted Differentiation Strategy;
— Over-focused on innovation;
— Tried too many initiatives;
— Launched Video Gaming & etc..
But only 6% of LEGO innovation sold!
LEGO suffered a 'BIG LOSS'!
Super Stores- backlog of unsold Lego sets!
So, what LEGO did to revive?? THE SECRET WAS---
✔Simplicity; Get back to the 'basics'!
LEGO; reduced cost by;
— Restored the Core Features;
— Cut back unnecessary innovations!
✳✳The Result?? Revenue began to soar again!!
— THE TOY KING BECAME THE KING AGAIN!!
✳✳P.S. WHAT LEGO TEACH US?
#lego#toyindustry#innovation
Recruiting Internet of Things, IIoT, Real-Time, Embedded, Cyber / Mobile / Network Security, Telematics and High Performance Computing technical and sales professionals
#blackfriday#deal Lego unveils epic Marvel Avengers Tower set with Black Friday deals and offers for Insiders: Lego has raised the bar for Black Friday deals with a ton of offers Lego Insiders rolling out with one of the biggest Lego sets I've ever seen: the Marvel Avengers Tower.
e-commerce, retail, publishing, writing, editing and more
1moSo people submit their ideas and any unique, actionable ones will be developed while the creator is told that Hasbro was already working on it. Hasbro are totally detached from their customers right now and need a team who are actually on the ball when it comes to product development and customer engagement. I'm not submitting high quality ideas through a form, but I'm happy to work alongside Hasbro in turning things around.