Tom Wise is a 30-year veteran of Live TV shopping. He is a TV Host-Director of On-Air Talent, vendor at QVC USA/Germany and HSN, and he teaches how to make money in your sleep.
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3 Value Bombs
1) TV Shopping became an industry in the ’80s. It is about a 9-Billion dollar business in the US.
2) Start by having a product that works.
3) It is always a good idea to get out of your comfort zone. Look for products that may not be in the HSN world yet.
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Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: Inside Live TV Shopping – A Secret Source of Piles of Cash with Tom Wise
[1:13] – Tom shares something interesting about himself that most people do not know.
- He worked for Kevin Harrington of Shark Tank as vice president for production for infomercials.
[2:25] – What exactly is TV Shopping, and why TV Shopping?
- TV Shopping became an industry in the ’80s. It is about a 9-Billion dollar business in the US.
- With TV Shopping, you can make money while someone else is doing all the work.
[3:42] – How do you find a product that sells on TV?
- For TV Shopping, you can find a product that sells on TV by solving a problem or identifying a need for an individual.
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- You can come up with new products.
- You can bring back hot products from the past, re-brand it, trademark it, or improve it.
[10:32] – How does Amazon come into play?
- If you have a product that is successful on Amazon, Tom suggests you approach HSN or QVC.
- You can sell thousands of your products in minutes.
[11:52] – A timeout to thank our sponsors, ZipRecruiter and Traffic Secrets Podcast!
[13:47] – How much time does it take, and who can help navigate the Live TV Shopping world?
- Start by having a product that works.
- Contact and get help from a representative.
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- The representative can bring in the product for you.
- The representative can do the samples for you.
- You can have the local talent do the presentation for you.
[16:24] – What is the biggest mistake you have seen people make and how can we avoid it?
- Tom shares his experience with Kerry Kart – it is a 4-in-1 utility cart
- His biggest mistake was he placed a 15 thousand-piece order and ended up having production problems. He was able to overcome it, but it took about 18 months to fix everything.
- For starters, do not take big orders while you are still building your foundation. Make the first impression – do it right.
[20:39] – Should you patent or trademark?
- It depends on the product.
- You can have products that you cannot patent, but you can trademark so that nobody can use the name of your product.
- You can patent a product if you make some improvements to it, or if you come up with a new product you can patent it to slow down those who want to copy your product.
[22:50] – Tom’s parting piece of guidance.
- It is always a good idea to get out of your comfort zone. Look for products that may not be in the HSN world yet.
- Tom’s Email – Connect with Tom directly!
- Kerry Kart – Use FIRE as your coupon code and get $50 off on your Kerry Kart purchase!
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3) Funnel On Fire: Learn how to create a funnel that converts!
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