After a recent visit to the Forbes Riley Studio, Linda Hersey a journalist for Patch.com submitted the following article.
Celebrity TV seller Forbes Riley, whose high-profile infomercials have made hundreds of millions of dollars, has the perfect pitch for selling products and making money.
The veteran of 115 infomercials has opened her own TV studio locally and a membership-only VIP club on the Internet, FitWithForbes.com.
Patch asked the well known pitch woman to share her tips for getting a whizbang idea or product on the market:
1.) Know Your Product and Develop Your Elevator Pitch: “I actually sold one of my SpinGyms in an elevator with only two floors. If you know your pitch, that’s how fast you can get your product out there,” said Riley, who sold 61,000 SpinGyms in 24 hours on HSN.
2.) Know Your Audience: “Don’t be aiming wildly. Know your audience first, then develop your product.” Riley tells the story of the archer whose arrows pierced every bull’s eye in a forest. When asked his secret, the archer replied: “I shoot the arrow first, then paint the bull’s eye where it lands.”
3.) Redefine the word “No”: “I learned a very valuable lesson: A lot of people stop when they hear the word ‘no.’ When you hear someone say, ‘yes,’ that is the time to stop. ‘No’ stands for ‘Never-ending Opportunity.’ If you get a ‘no,’ you’re asking the wrong person the question. Rephrase your question, or ask someone else.”
4.) Find a Mentor and/or a Coach: “I used to believe I could do everything by myself. To be successful, find those people who will support you and your ideas, and enroll them in your vision. Make it worthwhile for everyone. The people on your team all need to be successful. You don’t get to be the only one.”
5.) Give back: “The only way to truly receive is to give back – whether it’s to a charity or just giving your time. You will reap rewards, and your life will be enriched. And remember, your time is the most valuable asset you have.”