TGIFcon: Toy Business 101
By Cliff Annicelli -- Playthings, 10/1/2007
The 11th annual Toy & Game Industry Conference convened last month outside of Pittsburgh. It was a smaller affair than in years past, but for those toy and game inventors on hand it was widely acknowledged to be a priceless opportunity to question and connect with an impressive 'faculty' of toy business veterans.
“I wish I'd come here a lot earlier,” said Linda Look, a novice board game inventor from Myrtle Beach, S.C., early on the first day of the three day event. “I've only done one session and I've already gotten answers to questions I've been trying to find out about for more than a year.” Hers was a admission that would become common as TGIFcon's panel discussions, roundtables and product presentations quickly brought aspiring toy tycoons up to speed on the daily realities of the business, including what manufacturers and retailers look for in new toys, details of common business deals and essential pitfalls to avoid.
“Don't show me something 10 percent better than what I've already got,” Stan Clutton, Fisher-Price Brands' senior vice of inventor relations, licensing and new business, told inventors during a roundtable on toy design. “I need something that makes a big leap compared to what's out there. Don't bother with ideas that are small improvements on existing products, those aren't ideas companies are going to pay for.”
Meanwhile, former Hasbro executive Larry Bernstein warned of the dangers of dealing with invention agencies. “If they ask you for money, they're not agents, they're con artists,” he said during a discussion that offered practical advice on toy business contracts.
Next year's TGIFcon takes place June 22-24 in tandem with the annual ASTRA Marketplace & Academy.
