The School of Greatness 490 Kevin Harrington on Shark Tank, Inventing the Infomercial, and Billions in Sales
May 29, 2017
Kevin Harrington, the original shark on Shark Tank and the mastermind behind the infomercial, shares his journey of turning ideas into billion-dollar successes. He dives into strategies for effective product launches and the evolution of marketing, highlighting the shift from TV to social media. Discover his insights on crafting impactful infomercials and the necessity of multifunctional products. Harrington also offers a three-step sales formula and emphasizes the importance of mentorship and community support in achieving greatness.
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Origin Of The Infomercial
- Kevin found Arnold Morris selling a knife set live and filmed the demo to reach millions instead of 10 people.
- That filmed demo became the first infomercial and generated hundreds of millions in sales.
Rusty Knife Crisis And Creative Fix
- Kevin received 10,000 rusted knives from a cheap shipping method and faced $400,000 in refunds risk.
- He salvaged them with steel wool for $20,000 and avoided mass refunds.
Structure Fair Licensing Deals
- License products with clear worldwide terms and expect to pay inventors royalties typically around 2–5%.
- Ensure partners understand cash flow timing and manufacturing costs before changing deal structures.