what is your success rate?

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Inventor Protection Act of 1999 – Requires that you must provide the statistics of their success when asked.

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Rob Guizio (Community Ambassador) January 30, 2012 20:34

Alberto, what would you classify as "success"? Number of products released? Amount of money made by inventors?

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Ken Somerby January 30, 2012 17:49

That's true......They pick at least 2 products a week and I think that's pretty good...Those scam companies do what 2 a year and charge on average $14,000.00

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That's true......They pick at least 2 products a week and I think that's pretty good...Those scam companies do what 2 a year and charge on average $14,000.00

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Rob Guizio (Community Ambassador) January 30, 2012 20:34

Alberto, what would you classify as "success"? Number of products released? Amount of money made by inventors?

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Alberto, what would you classify as "success"? Number of products released? Amount of money made by inventors?

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Clinton Fleenor January 31, 2012 15:24

Alberto, since Quirky sells and distributes retail goods, it is not an "Invention Promoter". So it's not required to provide that information.

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Alberto, since Quirky sells and distributes retail goods, it is not an "Invention Promoter". So it's not required to provide that information.

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Rob Guizio (Community Ambassador) January 31, 2012 17:45

Although we aren't legally bound to provide certain pieces of info, we are quite transparent and we do offer up a lot of stats. So, Alberto, it depends on what you're looking for.

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Although we aren't legally bound to provide certain pieces of info, we are quite transparent and we do offer up a lot of stats. So, Alberto, it depends on what you're looking for.

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Steven LeDuc February 01, 2012 17:55

I'll go out on a limb and guess that he would like to know how many submissions do you receive per year and of those, how many make it to market to be sold for a profit?

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I'll go out on a limb and guess that he would like to know how many submissions do you receive per year and of those, how many make it to market to be sold for a profit?

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alberto martinez February 01, 2012 18:16

Thank you Steven. That's exactly what I would like to know. So far, I've only seen the Pivot Power-Pivotable Surge Protection-6 Outlets.

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- Rob Guizio (Community Ambassador) February 01, 2012 22:51
  
  Refer to Ken's list below. All items in the shop are commercially available. All items in Upcoming are products we have developed and will make if the conditions are right.
  
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Thank you Steven. That's exactly what I would like to know. So far, I've only seen the Pivot Power-Pivotable Surge Protection-6 Outlets.

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Ken Somerby February 01, 2012 20:38

http://www.quirky.com/shop

http://www.quirky.com/upcoming

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http://www.quirky.com/shop http://www.quirky.com/upcoming

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Steven LeDuc February 01, 2012 22:53

Ken, that doesn't answer his question. UC changes and does not represent all submissions, only those chosen to be "under Consideration" at a particular moment in time and the shop only shows those products that are currently being sold.

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- Rob Guizio (Community Ambassador) February 01, 2012 23:00
  
  Ken linked to the Upcoming product section. Not Under Consideration.
  
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- Ken Somerby February 01, 2012 23:12
  
  Yes Steven Pay attention!:)
  
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- Steven LeDuc February 02, 2012 00:16
  
  LOL! Either way, it still does not answer the question. Rob, pay attention ;-) I'll restate. How many submissions, chosen or not, are created on Quirky per year? How many of these submissions make it to production and sales per year?
  
  I'll make it clear and use me as an example. I submitted two ideas, zero of them made it to production or sales. Your success rate with me is 0%.
  
  Now, extrapolate that to the entire member base...Last year (Jan 1, 2011 thru December 31, 2011) how many submissions were entered? Now, during that same time period, how many of those submissions were ultimately turned into products that were sold? NOT how many units, but rather, how many single ideas or submissions.
  
  Does that clear things up?
  
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- alberto martinez February 09, 2012 23:26
  
  Steven, nice breakdown.
  
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- Steven LeDuc February 10, 2012 02:32
  
  Thanks Alberto but I doubt we'll get an honest answer to your original question which is valid and should be answered with actual numbers.
  
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- UNO February 10, 2012 03:51
  
  Today roughly 100 ideas have been submitted. During peak times 2-4 times that seem to have been submitted per day on the busiest days of the week. I'd estimate a total of 40000 ideas submitted as a rough estimate for the period you mentioned. The tv show was going strong, site traffic was significant and there were a lot of submissions the last 6 months or so of the year.
  
  With that you can then probably take an average of 3 items per week over last year or 150 give or take a bit.
  
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- Vicky in Denmark February 10, 2012 15:17
  
  okay. but none of them have gone to shelf. sorry.
  
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- UNO February 10, 2012 16:17
  
  Those were my estimates not Quirky staffs. As far as going to shelf nothing happens overnight. IMO we're still at a wait and see stage in this companies development.
  
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- Kat Devlon February 10, 2012 16:50
  
  Each ideation has a number. The most current is #172804.
  
  Does this mean that 172,804 ideations have been submitted to Quirky thus far?
  
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- Chris Tran February 10, 2012 19:01
  
  Ideation numbers are also provided for tagline/naming/concept submissions.
  
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- Rob Guizio (Community Ambassador) February 12, 2012 20:24
  
  I'll look into this for you guys and supply as much info as I can.
  
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Ken, that doesn't answer his question. UC changes and does not represent all submissions, only those chosen to be "under Consideration" at a particular moment in time and the shop only shows those products that are currently being sold.

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Steven LeDuc February 15, 2012 15:30

Bump back to the top. This really should not be all that difficult to answer.

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Bump back to the top. This really should not be all that difficult to answer.

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Steven LeDuc February 17, 2012 21:54

I think we may have an answer now based on the Town Hall meeting numbers presented by Ben. He said that there were approximately 1,500 to 3,000 submissions per week. There have been 46 (that number changed a few times) products that have made it into production since the beginning of Quirky. So lets be generous and say that all 46 were just this past year and lets be conservative in that there are only 1,500 submissions per week. That leaves a success rate of 0.05%

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- alberto martinez February 17, 2012 22:36
  
  I think you're being very generous. My calculations place it around 0.002%. I'm sure it's the same trying it on your own, but a least if you try it on your own, you have full control. Sad Indeed.
  
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I think we may have an answer now based on the Town Hall meeting numbers presented by Ben. He said that there were approximately 1,500 to 3,000 submissions per week. There have been 46 (that number changed a few times) products that have made it into production since the beginning of Quirky. So lets be generous and say that all 46 were just this past year and lets be conservative in that there are only 1,500 submissions per week. That leaves a success rate of 0.05%

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Steven LeDuc February 18, 2012 03:07

Alberto, yes, I agree, I was being very generous on the numbers. Even so, its still pretty bad. But, as Ben would state, you have to remember, going out on your own is an out of pocket expense and extremely risky. Quirky offers you the chance of success without the stress and expense.

The question is, are you willing to and can you afford to go out on your own or do you just want to spend $10.00 for a chance to make $75,000 over the next 3 years and call it a day?

Quirky is good for those that do not understand business nor do they care to. ITs good for the dreamers that have ideas that perhaps enhance existing products. It is NOT an inventors site from what I have seen. It is what it is and will probably always be.

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Alberto, yes, I agree, I was being very generous on the numbers. Even so, its still pretty bad. But, as Ben would state, you have to remember, going out on your own is an out of pocket expense and extremely risky. Quirky offers you the chance of success without the stress and expense. The question is, are you willing to and can you afford to go out on your own or do you just want to spend $10.00 for a chance to make $75,000 over the next 3 years and call it a day? Quirky is good for those that do not understand business nor do they care to. ITs good for the dreamers that have ideas that perhaps enhance existing products. It is NOT an inventors site from what I have seen. It is what it is and will probably always be.

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alberto martinez February 18, 2012 05:42

Thnaks, Steven. You definitely helped with the realization of your chances of success.

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Thnaks, Steven. You definitely helped with the realization of your chances of success.

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