MINDLESS MUSINGS

Moe: Hey, Homer came up with the drink, but I came up with the idea of charging $6.95 for it.

The Simpsons: “Flaming Moe’s”

The tale of the artist/inventor being duped is a way too common one. Being gifted and then putting in the time and effort required to create something great doesn’t leave a lot of time for learning business skills. Taking that valuable talent/invention etc. and using it to create revenue is a different skill entirely and neither skillset can squeeze anywhere near as much money going solo compared to working together.

If integrity and transparency exist, we can end right here and wish these partners the best. It does happen, I’m sure; we just rarely hear about it because there’s no drama in things running smooth. Also, when it comes to shared endeavours and money people have a tendency to put a lot more emphasis on their contribution over that of the others.

In the case of our mates Homer and Moe we have a clear division: Homer invented the cocktail and Moe had the means of distribution. This is often the sticking point for most fledgling entrepreneurs and/or inventors: how to get your product to the customer? If, like the Flaming Homer, it can be easily made and served, you have the benefit of skipping the whole manufacturing process; which introduces a whole new bunch of ‘partners’.

However, if the Flaming Homer/Moe was to move to the next level, it would definitely require mass production, and I doubt Moe has the means and necessary licenses for that undertaking. Thus, it probably would have ended much like the episode was headed before Homer spilled the beans. They would have sold the rights to a manufacturer; at best they would have gotten a percentage agreement.

So, I suppose it would have extended the quote a little:

“Yeah, Homer came up with the drink and Moe made it popular, but those small timers never could have taken it national and supplied the market.”

Technology has broken down many of the barriers that held the little guys down, so maybe a comparison of the old and new gatekeepers is in order:

For the budding entrepreneur the game changed significantly with the likes of eBay and Amazon combined with electronic payment systems. Nowadays if you can figure out how to safely and securely mail your merchandise for the right price you’ve got a fighting chance. Might have a bit of trouble mailing potted plants you sold on the internet though.

That kind of stuff probably still requires some kind of store. I remember my sister and her homemade scented candle phase. She sold a lot through word of mouth and people grabbing them straight from her. Once a month she would have a stall at a local market on a Sunday and turn a small profit. Her biggest boost came when the people who ran a second-hand goods store across from her house agreed to sell them. I don’t know about the split, but she never gave up her day job, and I never saw any obvious signs of wealth. She eventually branched out into mail orders, but the time and effort became too much, so it petered out slowly.

My mother had her own money-making idea regarding her lush garden after seeing the price of many plants she had growing profusely in her yard. Just buy the pots and soil and voila! They wouldn’t keep them in the 2^nd hand store, so we left them on my sister’s porch and posted a sign in their window. They were nicked before her next market day.

We never invested any more time into ironing out the details and therefore we never became merchants. Who’d have guessed it takes research and persistence to get a feasible business up and running? Cue the coming together of the ideas-man/woman and the business savvy sidekick.

Thinking of them as a sidekick would probably be your first mistake in terms of underestimating their potential; both to make or break the mission. Not to mention rip you right off if you’re not paying attention. Something as transferable as making scented candles from packets or potting profitable plants from a prolific garden probably wouldn’t justify such a specialist; that would have to be you.

However, if you have a unique product or talent. Or maybe a new design or twist on an old one, you may require the assistance of an experienced representative. Someone to tout your wares and get a good price: a manager, an agent, a promoter – in short, a hustler! Herein lies the warning. This person has spent years learning and fine tuning their skills of persuasion; gathering contacts and figuring out how to maximise profits from the fruits of other’s labour.

“As hard as I worked in the gym and the ring, there were hundreds of people working just as hard figuring out how to get my money.”

Paraphrasing something I heard Mike Tyson say once.

Don King was not an anomaly. He was extremely good at what he did, but he wasn’t a new character. For all intents and purposes Michael Gudinski was a saint in terms of equitable music promotion. Although my inner cynic cannot disregard an old saying about con-men: “the best cons go unnoticed”. Maybe the notorious Mr King wasn’t as clever as we all thought and the real G.O.A.T of the grifters is out there being hailed as a person of impeccable character. I have no reason to suspect Mr Gudinski just for the record. It was just one of those devil’s advocate thoughts that pop up.

Either way, the inherent talent, training and effort you put into creating your art, skill or widget, has probably been matched by the person best suited to be your mouthpiece and moneyman. Your cousin Fred may mean well and have your best interests at heart, but there was a reason I left out the word marketable from the first sentence of this paragraph. Who decides what is marketable? A quality spin doctor with good contacts can open doors and make things happen.

Hell, a brilliant one would have an honest crack at selling a polished turd and I wouldn’t bet against their success. A good product/idea with a great hustle can easily outperform a technically better competitor if the sales pitch sucks.

And on that note, I shall conclude. As usual we will return and turn over some more rocks in the future.