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Great Lakes Toy Company Works for Kids Careful Planning and Listening Leads to Games That Work
I was the supervisor for a company that makes transformers and regulators for the utility industry. A patent attorney saw some toys I had made for a friend’s son and asked me if I’d thought of turning it into a full-time business. I hadn’t, but I went to see another patent attorney friend of his.  He put a box on the table and said, “Tell me what you can do with this.” I thought of, maybe, 25 things. “Congratulations,” he said. “Most people think of two or three. …Personally I love the toys. … You have a chance of making a good business out of it.” That was about 10 years ago. Learn From Others’ Mistakes ... Slowly I took three or four years to research the industry, find out why companies fail, why they succeed. We started in wholesale. We only put out a few toys because we were unknown. Sales were slow — around $60,000. Broadcast Your Name  Networking is so important. I got our name out there by hitting local specialty shops and mailing brochures describing the company and our product.The following year, we decided to sell retail on the Internet using e-bay and our own site. We also did school fundraisers, which helped get our product noticed by the public. Bookstores started buying. Zoos across America put our toys in their gift shops. Once we went retail, our sales rose to about $90,000. For 2007, we expect to hit $180,000 to $250,000. This includes some newer products we’ve introduced. Putting together a professional team was probably the hardest part of building the business. I’m the right person as far as design goes, but I needed somebody with sales experience who knows the industry to get out there and sell. Seize Opportunities ... Quickly I took everything slowly, although by doing that we missed some good opportunities. For example, we had a Harry Potter game two years back. When it comes to a trend, you’ve got to move fast. Before we got to the kids, they were on to something else. Listen to Advice and Research, Research, Research Do your homework. There are things you don’t anticipate, such as extra expenses. And make sure your product is not already out there. Talk to people in the industry. Don’t be afraid to ask questions. But Don’t Forget Who It’s All For Watch, learn and make something out of it. I’m a guy in his 40s who observes kids for a living. I’ve seen companies hire artistic people who come up with ideas that kids don’t like. You have to go to the source — the kids. Of course, you’re in business to make money, but it’s more than that. If you’ve ever seen a kid’s face light up when they play your game, it’s a wonderful feeling: Do it for the kids. The following are some toys for kids from the Great Lakes Toy Company:
 Writer's Bio: Elizabeth Greenspan edits and writes for trade and technical publications. She has interviewed and collaborated with some of the top practitioners in their fields. She lives in Philadelphia and travels extensively for her work. Read more articles by this author |
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