SOWPub Small Business Forums  
 

Click Here to see the latest posts!

Ask any questions related to business / entrepreneurship / money-making / life
or share your success stories (and educational "failures")...

Sign up for the Hidden Business Ideas Letter Free edition, and receive a free report straight to your inbox: "Idea that works in a pandemic: Ordinary housewife makes $50,000 a month in her spare time, using a simple idea - and her driveway..."

NO BLATANT ADS PLEASE
Also, please no insults or personal attacks.
Feel free to link to your web site though at the end of your posts.

Stay up to date! Get email notifications or
get "new thread" feeds here

 

Go Back   SOWPub Small Business Forums > Main Category > SOWPub Business Forum
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

SOWPub Business Forum Seeds of Wisdom Forum

Reply
 
Thread Tools Display Modes
  #1  
Old April 25, 2019, 10:49 AM
GordonJ's Avatar
GordonJ GordonJ is offline
Administrator
 
Join Date: Aug 2006
Location: West Palm Beach, FL
Posts: 3,471
Default He has 5 million to invest. What would you tell him?

Out of the blue, unexpected as it usually happens...I got a call. From an old, old friend. He needs help. Basic problem: Brother with five million to invest, and has invented/created a game. And wants to either FRANCHISE IT or run huge tournaments.

He called me because he knew I once consulted on such things, mainly in the role of the antagonist, asking the questions MOST don't want to hear, you know, the REALITY type stuff. Like who wants it and why?

Or, where do customers come from? All that reality based jazz that new inventors or idea people want so badly to ignore.

I've spoken with scores of inventors who have told me, EVERYONE will want this. HA! Reason I love the shark tank, REALITY.

So Barry has 5 million to invest in his game, which he says EVERYONE will want to play.

First red flag for me. His game, without giving too much a way, is a THROWING, tossing, target type game. Think bowling, horseshoes, skittles, bocce, corn hole (bean bag tosses and frisbee golf.

It can be competitive, or played for score. Take bowling, everyone knows what it is. You could compete in a weekend tournament, from single elimination to round robins, pay an entry fee and play for the pot. It could be one to one competition, or number of games rolled and cumulative score.

So, what Barry is thinking. Lots of space available. He has a plan which needs about 10,000 square feet. About the size of a small Rite-Aid or small grocery store, like a mom and pop grocery (IGA).

Anyhow, in this 10,000 square feet he can put 50 alleys (space needed for game about 3x20 feet. Think short shuffle board type area. And he wants a bar (which I advised against) and/or a food thing.

So, I have given it some thought. IF any of you have any ideas, let me know via email you have some thoughts, don't yet tell me, and maybe we can help the guy and who knows, get in on the ground floor of something.

MY advice so far: TEST CONCEPT. He needs a working prototype, and so some of his dough has to go to making the games, then manufacturing them.

All things he thinks will be easy. I suggested he lease a vacant bldg, get insurance, and run a tournament for a month, to see if it draws people in. Also I think he should check into FOOD TRUCKS, to see if they are allowed on the location, or some sort of kiosk like at Fairs to put inside or have outside.

He needs to have people playing the game. Find it fun, challenging, and competitive, but also needs to PROTECT IT. Some of it can be Trademarked, or Copyrighted, other more advanced notions need mechanical devices, which could be Patent protected, albeit, all this adds TIME to the plan.

He has two versions, one more like a course, think golf or frisbee golf or minature golf, and inside, I think he would need walls or nets to keep the "ball" in it's own fairway... OR, instead of a course, it can be done in lanes or alleys, or set up in rows.

I told Barry, half of his money should be put back for promotion. He squealed at that idea. But, it is just my advice.

TEST the concept, get proof there is a demand. PROTECT it best you can, be first to market with a PLAN TO SCALE IT UP RAPIDLY.

He is thinking franchise, another TIME strategy. I think POP UP tournaments, which he controls, and maybe offers games to players, with a MASTERS tournament set up once a year to hold the championship.

It isn't often I have to put my mind on ideas where people have 5 million bux burning a hole in their pocket, and with something, I am unfamiliar with.

Although, interesting enough, just recently I had a convo about CORN HOLE, (yea go ahead, make all the jokes you want), which has become a pretty popular game here in the middle. Ohio, Kentucky, Indiana and Mich. seem to be the centers of the corn hole world.

Interesting to give thought to bigger ideas, now and then.

Gordon

PS https://www.cnbc.com/2018/08/18/corn...g-leagues.html
Reply With Quote
  #2  
Old April 25, 2019, 11:02 AM
GordonJ's Avatar
GordonJ GordonJ is offline
Administrator
 
Join Date: Aug 2006
Location: West Palm Beach, FL
Posts: 3,471
Default How about a million dollar tournament?

Reading that article about the corn holer who made 25k for throwing bean bags, made me think of Walter Ray Williams. He has won a few million dollars with his bowling expertise, and is one of the greats.

He has won thousands of dollars with his HORSESHOE pitching, and is a 9 time world champion (3 as a junior).

Horseshoe pitching is one of the most popular back yard, small town sports in America. Anyone can set up a place to throw.

You need a bowling alley to bowl (or a nice lawn).

If Barry were to put a million bux in escrow, and offer a prize of like 250,000 for the WORLD CHAMPION of his sport, call it BarryBall, he might get some very fast media. But he would need to have his ducks in a row.

A home version of BARRYBALL, could be sold as easily as a bocce ball set.

Gordon
Reply With Quote
  #3  
Old April 25, 2019, 11:44 AM
GordonJ's Avatar
GordonJ GordonJ is offline
Administrator
 
Join Date: Aug 2006
Location: West Palm Beach, FL
Posts: 3,471
Default Customers, consumers clients...the headaches of business?

Speaking of Barry, the bro of a friend with 5 million to invest.

Barry is hot on concepts taught by MJ Demarco of the Fastlane school and Unscripted. He likes the FORMULA... WCE

Wealth Creation Equation (anyone familiar?)

Which basically says to get rich faster, you need to scale up, and manipulate.

Scaled up. Barry is thinking FRANCHISING as a way to scale. And home versions as a way to MANIPULATE, same as having a tournament one to one or a cumulative score. So he likes MJ Demarco's way to thinking (and so do I as far as it goes).

There are many other ways to scale up, maybe this afternoon, if time allows, I'll write some more on it. I've got a couple of hours of phone calls scheduled today.

FUN day, from CHALK BOARDS, to GAMES, to FRANCHISES (which I like for their marketing). And even a lottery club meeting later (oh woe is me, I was only one number off, or something like that, I'd bet on it! HA!).

Barry wants to turn 5 million into 100 million, ASAP. IF we can help, we can go along for the ride, if not, just a few thoughts tossed to the wind, eh?

Gordon
Reply With Quote
  #4  
Old April 25, 2019, 03:27 PM
Dien Rice Dien Rice is online now
Onwards and upwards!
 
Join Date: Aug 2006
Posts: 3,357
Default "Piggybacking" might be one approach...

Quote:
Originally Posted by GordonJ View Post
Speaking of Barry, the bro of a friend with 5 million to invest.
Hi Gordon,

WOW, this is pretty exciting!

I really think how it is presented and marketed is very important... I feel it has to capture the public's imagination...

One thought is, is it possible to "piggyback" on something already successful?

I don't know enough about the game, but if it were easy to "piggyback" on an existing successful brand or business, it could be a "quick way" to success...

This approach would probably entail going into some kind of joint-venture with an existing brand name or an existing successful business... (You'd have to make sure your "toll position" is well protected, so they can't steal it.)

(A game-type of example that springs to mind is Bob Reiss and the TV Guide game... Here's an article about it, but I think Bob Reiss gives more details in his book.
https://www.alumni.hbs.edu/stories/P....aspx?num=2602
There is also a Harvard Business School case study about it, which is what I originally read... )

I'll "sit on it" and email you if I come up with any further ideas...

Best wishes,

Dien
__________________
Reply With Quote
  #5  
Old April 25, 2019, 07:52 PM
GordonJ's Avatar
GordonJ GordonJ is offline
Administrator
 
Join Date: Aug 2006
Location: West Palm Beach, FL
Posts: 3,471
Default Re: "Piggybacking" might be one approach...

Quote:
Originally Posted by Dien Rice View Post
Hi Gordon,

WOW, this is pretty exciting!

I really think how it is presented and marketed is very important... I feel it has to capture the public's imagination...

One thought is, is it possible to "piggyback" on something already successful?

I don't know enough about the game, but if it were easy to "piggyback" on an existing successful brand or business, it could be a "quick way" to success...

This approach would probably entail going into some kind of joint-venture with an existing brand name or an existing successful business... (You'd have to make sure your "toll position" is well protected, so they can't steal it.)

(A game-type of example that springs to mind is Bob Reiss and the TV Guide game... Here's an article about it, but I think Bob Reiss gives more details in his book.
https://www.alumni.hbs.edu/stories/P....aspx?num=2602
There is also a Harvard Business School case study about it, which is what I originally read... )

I'll "sit on it" and email you if I come up with any further ideas...

Best wishes,

Dien

Very good, and thanks Dien. A couple of points Bob made don't apply here.

Stevenson's definition of entrepreneurship is "the pursuit of opportunity beyond resources currently controlled."



Barry, in this case, would be more akin to Trivial Pursuit, the first to market, and dominant player. He does not lack resources.

As an aside, and as YOU well know Dien, there are lots of people in the world who do not lack resources. And five million seems like a lot to most of us, for the investors of the world, it isn't all that. Barry's five million is the "leftover" of his selling a company, and taking care of his family and needs for years to come through risk adverse investments.

The 5 million is totally in play and at risk, of course he doesn't want to lose it, or all of it, but his thinking is start fast, grow fast, go from 5 to 100 million at breakneck speed. Something like Suarez did in the late 80's early 90's where they doubled almost every year.

He is aware of all the investor opportunities out there, and he wants to invest in HIS BABY, his game. He wants a place to bring people together, and those models include Chuck E. Cheese, Busters, Lazer Tag and a new one, MONSTER MINI GOLF, where black light rules the day.

He recalls those packed bowling alleys of yesteryear, and we talked about the popularity of mini golf in the summer, here, attached to an ice cream stand.

They do go together.

Bean bag (Corn Hole) tosses, ladder games, which I think was stolen from the people throwing shoes over power lines, and add in a little skee ball action, well mix and mash, arcades still can pull people out of their houses.

If one works, then why not 200 franchises, is BARRY'S thinking. I don't know my role, if any, as of today, probably like those early days with you talking to the investor who needed your skills...so that is the process.

One of the sweet things, maybe for both of us, is NOT having to deal with bootstrappers and those who would practice the Stevensons of the world idea of limited resources.


The caution is, to prevent them from spending money, just because they have it. PLAN it out, do it small but to scale, then E X P L O D E on the scene with a readiness to GO big.

When I created my Froggin Poggin game, we tested it small, at flea markets and little school fairs, where we learned it was addictive. It could have been a contender.

Maybe BarryBall, BarryBowl, BarryBoll, BarryBag, BarryBeans, or whatever he comes up with will go all the way.

Thanks for that very good article, seems to me we've discussed Bob before haven't we?

Gordon
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Other recent posts on the forum...


Seeds of Wisdom Publishing (front page) | Seeds of Wisdom Business forum | Seeds of Wisdom Original Business Forum (Archive) | Hidden Unusual Business Ideas Newsletter | Hotsheet Profits | Persuade via Remote Influence | Affia Band | The Entrepreneur's Hotsheet | The SeedZine (Entrepreneurial Ezine)

Get the report on Harvey Brody's Answers to a Question-Oriented-Person


All times are GMT -4. The time now is 01:05 PM.


Powered by vBulletin Version 3.6.0
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.