Episode #74: How To Break Into Toys Through Self-Publishing
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If you’re wondering how to break into toys, just know this. There are MANY paths into the toy industry. Get ready to hear how a self-published author found herself as the VP at a major toy company leading Marketing and Emerging IP’s. Our guest today is Karen Kilpatrick, an author who has both self-published and traditionally published her work with major companies like Macmillan.
In this episode, you’ll learn from Karen’s journey and mistakes, and finally realize that you don’t need to know where you’re going to get somewhere you love. Discover a path for creatives seeking for lucrative self-publishing options that allow you to keep upwards of 70% of profits instead of the typical 5% royalty. If you have ever had an idea for children’s book, then this is an excellent episode for you to dive into.
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Azhelle Wade: You are listening to making it in the toy industry episode number 74.
[00:00:05] Well, Hey there toy people, Azhelle Wade here. And welcome back to another episode of the toy coach podcast, making it in the toy industry. This is a weekly podcast brought to you by thetoycoach.com. Today's episode is one that was inspired because so many of my listeners have reached out to me saying that they have book ideas to go along with their toys. So I've done an episode on children's authors before with Yesenia Moises and you guys loved it. So today I invited my friend and fellow women and toys member, Karen Kilpatrick, to share her journey into the toy industry and the publishing world.
[00:00:59] Karen is a traditionally published author with two books soon to be released by McMillan in 2022. But before her publishing career, Karen held a role as the VP of marketing and emerging IP at Jazwares, making her the perfect guest for this show today. Now today's conversation is going to show you that there are many roads to the toy industry.
[00:01:26] One of them being publishing and we'll learn from Karen's journey and her mistakes that you don't need to know where you're going to get somewhere that you love. And if you're a toy coach podcast, insiders club member, we also dive into some specific how those numbers, royalty rates, and sales expectations that are the norm in the traditional publishing world.
[00:01:52] And those numbers might just surprise you. Now Karen's company that she's going to be introducing us today is called Genius Cat Books. Now she established this to help DIY creatives, self publish their books and keep more of their profits. So if you've ever had an idea for a children's book, this is the episode for you. Let's dive in to the interview.
[00:02:20] Karen, welcome to the show. I'm so glad to have you here. Thanks for being here today.
[00:02:26] Karen Kilpatrick: Thank you for having me so excited to be here.
[00:02:28]Azhelle Wade: I wanted you to come on the show because we had a conversation about your journey into the toy industry. And it's a really, really unique one that I know my listeners are going to love. So would you please share with us how you got started in the toy industry?
[00:02:43]Karen Kilpatrick: Yeah, it is an interesting story . I didn't know the toy industry existed for most of my life. Right. So I started off my career as an attorney in finance of all things. And I did that for a number of years and was pretty miserable.
[00:02:59]So, you know, lesson learned, moved on from that not soon enough, about five years in and I left, I just kind of quit one day without knowing what I was going to do or anything, because I just was so miserable that I thought. This is what life is. It's just not worth living it's just not worth being so unhappy. Like, it's just, you know, you gotta, you gotta make the change if you're so unhappy. It doesn't matter, just make the change. And that's what I did. And I kind of fell into this is like back in the early internet days, like make money online.
[00:03:34] And I was like, oh, I can make money online. I had no idea what I was doing, but I took some classes and I was like, is this a scam? Or is this real? I don't know. I'm going to try and. You know, eventually it works like a year in of me not making any money. And just one day I started making money and I did it building legal services websites, which I then spent the next year, six years building websites, marketing them and then selling them to law firms for
[00:04:05] Azhelle Wade: wait, slow down. We need to talk about this. You built legal services, websites. Like what does that mean? What is that?
[00:04:12] Karen Kilpatrick: Yeah. Like, so during the foreclosure crisis, you, people were looking for foreclosure loaders. So I was like, okay, Florida, foreclosure, lawyer.com, like, and just drove traffic through marketing to the sites, got the clients, sent them to paralegals and other lawyers and took a cut of everything. So I was making money online.
[00:04:34] It works. And I did it in that. I did it for like sealing and expunging criminal markers. I did it all kind of like discreet cases that I could just farm out and for a flat fee and make money. And then eventually, like, you know, law firms that were looking for revenue streams in that area, like an online revenue stream, they were getting a lot of clients.
[00:04:55] Then I would just sell it to them. That's how I kind of cashed out of that early start to entrepreneurial-ism. But I realized, again, I built the life that I didn't like, like I, I built the life around doing something that I wasn't passionate about. So once I got that exit strategy, I was like, I am now going to do what I want to do, which was writing books for little kids.
[00:05:20] Azhelle Wade: Where'd that idea come from?
[00:05:22] Karen Kilpatrick: I don't know, I've always loved writing and I've always written creatively for fun. But I think then when I had my free kids, I. I was telling them stories all the time. I was like making up stories and I was just telling them stories. And one day I was like, Okay. maybe, maybe I can make a story into a book and maybe I can sell the book because guess what?
[00:05:42] I can sell things online. I can make money online. So maybe I can use those same principles. For these books that I did for legal services. Now, you know, with the book I'm making like a dollar versus $700 lesson, like the best business model, but it worked, I got to number one listings on Amazon and I was, I was selling a lot of books and that was actually my ticket into the entertainment space I met up at BookExpo America trade show with the then president women in toys.
[00:06:19] And she was like, Hey, have you thought about toys? And I'm like, well, I always wanted to make dolls from these books. So she kind of introduced me into that organization. I volunteered to become a chapter chair, women and toys, which then I'm located in south Florida. I didn't know then, but it's like a hotbed for toys.
[00:06:42] You know, we've got Jazwares we got fun. We have all these toy companies and I started going to events and meeting people from toy companies. And I met someone from Jazwares and they, it turned out that they made an offer to acquire my book, book, doll series idea. Right.
[00:07:01] Azhelle Wade: Wait, hold on, hold on. We're going to fast. We got, hold on. We got to break it up. So first I really love that you have like these essentially what you did. I think in a previous podcast episode, I mentioned this, the pieces of you, right? So you have. Like your legal background, which led you to try to sell things online, which led you to trying to being a mom, which led you to say, oh, maybe I can monetize the storytelling aspect of, of what I do as a mom.
[00:07:27] And that led you to books, which led you to toys. And I just loved like hearing all these little pieces coming together. And I think that's important for people to hear. You don't know, you don't have to know exactly where you're headed. You just have to keep doing the things that you're interested in.
[00:07:43]Full out and when you hit that to access, then you're like, okay, now maybe I can combine this with this and that.
[00:07:49] Karen Kilpatrick: Yeah. Agree. I wish I had known that earlier. You know, sometimes you just gotta keep walking, even though you don't, you know, it's some people everyone's like, you know, you should know where you're going. Yeah. That would be great. But sometimes Yeah, sometimes you don't. And what do you, you know, you can sit on the side of the road or you can like walk, you're going to get somewhere, you know, you're, you're gonna, you're going to find a path.
[00:08:14] You're gonna find a path to go on. Even if you don't know your exact direction. Action. Leads to opportunity. And I think that's one thing I've really learned in my life. yeah,
[00:08:24] Like I tried things and expected one thing, but it's gotten me into completely different places. I never could have even imagined.
[00:08:31] And it's because I acted and I think that's key.
[00:08:35]Azhelle Wade: So before you ever met Jazwares before, because Jazwares listeners, if you don't know was Karen's like first big intro into the toy industry. Right. And so before you ever met Jazwares, you already had a successful book or two, or how many?
[00:08:53] Karen Kilpatrick: well, it was at that point I had, I think, five books out. Yeah, it ended up being seven total in the series. It was five books out and, you know, let's like define successful. Successful ish books. So I think, you know, they were successful in terms of really able to sell them online and On Amazon.
[00:09:14] Right
[00:09:14] So they had high rankings on Amazon and I had high numbers of eBooks. And that's what I was focused on, I think around 40,000, which for the first book, which you know, is a good number for a book especially with no distribution or anything. But I think my focus at that point wasn't really bookselling.
[00:09:34] It was like proof of concept. I wanted to build this into a brand and that book was my calling card. I think if I kept going, I could have built it. More into what I wanted it to be, but it really got derailed from building that brand because of everything that, all the opportunities that Happened. after which
[00:09:54] Azhelle Wade: Took you off the path you thought you were walking
[00:09:57] Karen Kilpatrick: a exactly. and I'm actually grateful that I took though at the time, I never, you know, Again, we couldn't have anticipated it. So the brand was pumpkin heads.
[00:10:10] Azhelle Wade: I was going to ask what was the brand? Okay. Pumpkin
[00:10:12] Karen Kilpatrick: it was pumpkin heads.
[00:10:14] and it ended up with an offer from a production company for animation and an offer from a toy company. Jazz was for bringing it into its own IP stable. This is when they were focusing on. cultivating their own IP and acquiring new IP to, to launch.
[00:10:32]Azhelle Wade: You say it ended up, what do you mean? It ended? Like what? Like what happened? How did it end up getting, what happened?
[00:10:41] Karen Kilpatrick: Well, I I found, you know, through women and toys and in participating in events, I found agents and connected with people who I started. I had a show Bible. I had, you know, my books, I had my idea, I had my concept, so I was pitching it to them. And through those pitches, I got offers now.
[00:11:02] Azhelle Wade: Okay.
[00:11:04] Karen Kilpatrick: I was,
[00:11:07] Azhelle Wade: Like don't get excited.
[00:11:09] Karen Kilpatrick: Yes.
[00:11:10] Azhelle Wade: Get excited.
[00:11:11] Karen Kilpatrick: I always year young enough in the toy industry to think for some reason that I didn't need help of larger companies to do what I wanted to do. And I said no to everybody. So I was like, Yeah.
[00:11:25] no, I've spent. This time and energy and your deal is good enough for me. Like I'm not selling out now. And I don't, I don't want to do it.
[00:11:34] Like I don't like your numbers. Like, no, thank you. In retrospect, in retrospect, not the smartest move, however, live and learn. right.
[00:11:46] It's one of
[00:11:46] Azhelle Wade: Okay. So I interviewed, I interviewed Cass Holeman also on this podcast. And one of the things she said, actually, I'm not sure if she said this on her podcast or on the Netflix special, but she said she was offered a similar opportunity to develop her line Geemo. And with, I think it might've been with a toy company and she was like, no.
[00:12:06]Karen Kilpatrick: I was just young initially. Like, no, I always just inexperienced. Wasn't the smartest decision. Yes, totally. Okay. Let's
[00:12:17] Azhelle Wade: Wait, Wait, wait, tell us why, like in retrospect now, because there are so many people, like I already know, I hear it when they hear like, like you could get 3% on this idea. They're like, really, like, that's not enough, you know how much I've put into this idea. So I, you know, I want, so tell me why now you say that was a bad idea that you didn't say jazz, whereas take my baby and just do what you will with it and make it big.
[00:12:41] Karen Kilpatrick: Yeah.
[00:12:42] Living that mistake. So like, so 3%, okay. A hundred percent of something really small is really small. 3% of something really big is really big. Like, I didn't realize the, the massive numbers that these. Brands Can get two and 3% of a big brand is a hell of a lot of money, like a lot of money. And by the way, it's not your money.
[00:13:11] You're not investing it. You have a team, you have manufacturers, you have a marketer do retail, they have distribution. They had everything you don't have.
[00:13:20] I also know in retrospect that just because you get an animation offer and a toy offer doesn't mean it's going to be the next big thing. I think the key in this industry is creativity. And what I didn't know then is I was married to my first idea.
[00:13:39] And I was going to have a lot of other marriages. Like I am not a one ideal woman. so like I, so if you're a lot of people, I sat on the other side of the table of Jazzers and heard a lot of inventors and people come to me with their ideas and it was their passion. It was like their baby. And I get it.
[00:14:01] Cause pumpkin has was mine, but like have more kids.
[00:14:05]You know, you got to, because then, then, then you're playing the game. You're actually a professional in this industry, your expertise, what you're bringing to the table is your imagination and your creativity. And you've got to believe that you're going to have more than one good idea. It's really hard for that idea to take. There are a lot of players, there are a lot of things that need to happen for that idea to turn into a really good brand. The more you do, the more opportunity you have to find that success. And it might be your first idea. You might be one of those when they're there, they're there around. Yeah they're around, but more often than not the people who are succeeding success are the people who are consistently coming up with their games, coming up with their brands, coming up with their inventions and they're professionals. And they do it a lot.
[00:14:55] Azhelle Wade: I that's such a good tip and I, and I feel like the biggest skill you could acquire if you acquire any skill as an inventor is one that I had to do and you probably had to do working in product development, but it's like, If you can figure out how to love an idea, like it's your only child and leave it.
[00:15:12] Like you're going to have another one, like quickly, that's a power that not many people have. And that's how you can develop a product that has heart. But without without marrying that one idea, like you said, being able, if you can figure out how you can, like, just give everything to an idea while you're on it and then like move it to the side and go to the next one.
[00:15:31] I feel that's where you're going to get a lot of success.
[00:15:34] Karen Kilpatrick: Well, you can only control what you can control, right? And that is your idea and making it the best, most amazing idea you possibly can. If you're going to go and try to find partners, then there's a lot of it that is beyond your control. And if you focused on everything, that's beyond your control, you're losing the opportunity to do more of what is in your control to give you more of those opportunities.
[00:15:57] Now, there are a lot of people who go, you know, the Kickstarter and start your own company route. It's it's, it's not bad. It's just different pros and cons. And, you know, do you want to start a business? Do you want funding? Do you want, you know, it's a whole other thing, a whole other goal, which is a viable goal, but a completely different path.
[00:16:21] And you have to look at it that you're building a company, a business it's going to require a lot of funding. If you, if that's something that you can take on and want to take on, go for it. If not, you know, then you can tap into what already exists by yeah partners.
[00:16:40] Azhelle Wade: Okay, let's get back to your story. I like how we're telling your story and lessons in between it. I think this is very, this is a very efficient way to learn.
[00:16:48] This is good. Okay, so now Jazwares comes and they're like, Hey, and, and a production company also comes and they're like, you know, we really like what you've got going on here.
[00:16:56] Karen Kilpatrick. And, and, and you're like, you know, Thanks, but I don't love what you guys have going on. So what happens next? What happens when you walk away from that deal?
[00:17:07] Karen Kilpatrick: Like, you know, two weeks of lack of sleep thinking I was a lunatic. I'm like, I'm like, what did I do? So, but the good thing was, is there was another idea that wasn't fully fleshed out, that I didn't invest time, energy and money in that I worked on with my two daughters. And I went back to Jazwares wears two weeks later and said, Hey. You like this, but, you know I said, no, but maybe you like this instead, like take this. And they looked at it. Yeah. And they acquired it. It is actually me bears, it launched through Russ a couple of years ago. So it was something I worked on with my kids and they said yes to that.
[00:17:48] Then they asked me to come in and work as a contractor, as a consultant.
[00:17:52] And then that totally changed the trajectory of my career in my life, what I was doing. So I was there running that division for about two years. Then I moved over to vice president of marketing. And I was in that position for a couple of years and I am now, no, I left Jazz.
[00:18:12] Whereas that's part of the story to to go back to my own independent. Right.
[00:18:17] Azhelle Wade: Wow. So what did, what are you doing today before I go into dive into your past more?
[00:18:24] Karen Kilpatrick: Yeah. So today I'm now a traditionally published children's book author. So while it was at jazz, whereas I realized I couldn't launch my own books, I didn't have the time. So I became traditionally published, but I have two books out, two more coming out next year with Macmillan. And then I also And consistent content creator in terms of children's books.
[00:18:49] And I now have a lot of industry friends who are also authors who want to take a more hybrid approach to publishing. So I now have my own publishing company which will be launching its first titles. This fall.
[00:19:06] Azhelle Wade: It's amazing. Wow. So, okay. So many questions first. I was so. No it, yeah. First. Yeah, actually first we should address that. Everyone is always asking me,Azhelle. How can I break into the toy industry as a career professional? There is no one way there is no one way. And you clearly said that in your story. I mean, you were just trying to essentially license your IP and you ended up being the VP of several departments at a major toy company.
[00:19:36] That's huge. But now my other question for you is, you know, I've had other authors on. This podcast and they all tell their story about how they got into, to traditional publishing. So I'm curious how you felt, how you were able to make that connection to McMillan, because you said at first you were publishing a self publishing on Amazon, right?
[00:19:58] So how'd you do that?
[00:20:00]Karen Kilpatrick: Women in toys, I like, I just found it the most incredibly supportive organization.
[00:20:07] I really try to meet people that I think that we have synergy where you pre COVID when I traveled, it was easier. I'd be, I'd be like, Hey, I'm here. I do this, this, and this let's meet for 15 minutes.
[00:20:19] Like maybe like. There's something you never know. And, and just meeting people and getting along with people and making those connections, I think is really important because you don't ever know. And I ended up sending, I met with some literary agents. I met with a bunch of people and I've sent them business.
[00:20:37] I've sent them people who have come to me and I can't help them. So I'm like, Hey, I think this is a great person for you. Like, I think just that whole. Pay it forward mentality. Like always be willing to help people before you're asking for help is very, you know, it, it works and you don't do it for some big ulterior motive.
[00:20:59] You just do it because you know that for me, that's how I want people to treat me. You know, I, I, I want to have those connections with people. I like, you want to do business with people you like.
[00:21:11] I just happened to be part of women in toys. So most of my stories center around women, but there are a lot of great men. in these stories too,
[00:21:19] Azhelle Wade: Yeah. And actually, yeah. And we've heard that you can actually join women in toys, even if you're a man. Actually, my partner is
[00:21:26] Karen Kilpatrick: Oh,
[00:21:27] Azhelle Wade: of women in toys, so
[00:21:29] Karen Kilpatrick: Totally worth it. It's a networking group. It started off, you know, for women, but it is just a really supportive community that, you know, I just help helps,
[00:21:40] Azhelle Wade: yeah.
[00:21:41] Karen Kilpatrick: that's all it is. So It's a good entree. to start learning
[00:21:44] Azhelle Wade: Ooh. It's a good entree. I like that. Okay. All right. I want to go back and talk about this system that you created.
[00:21:52] Because when we, the last time we chatted, you said that you really believed that creatives deserved to get more profit from their work. So
[00:22:03] Karen Kilpatrick: right.
[00:22:04] Azhelle Wade: out a way to make that happen. How much of that can you share today?
[00:22:08] Karen Kilpatrick: Well, it's through my. Company now Genius cat books, it's called. So, you know, with traditional publishing, you get true distribution, right? That's a huge thing. You get an advance and you get a marketing team, but what's interesting is, is you really have to do your own marketing. Honestly, you do. And, and that's not, you know, some big, hidden secret that everyone essentially knows that.
[00:22:34] If you're an author, you, you. Got to be on it, marketing your books. They put out so many books per year. The marketing and the publishing industry is nothing like the toy industry. I mean, the toy industry, doesn't launch brands, you know, they'll, they'll launch like 10 books in one day. They launch books every Tuesday, every Tuesday.
[00:22:52] It's like Tuesday, Tuesday, Tuesdays when books launches and it's a lot and you're just pumping out content and seeing What.
[00:22:59] sticks, you know But as an author, you want to have control of your destiny. If your book sells, then they'll put more behind it and you know, you'll get bigger advances. This is next time, but you're still only getting 10% or not even 10% 5% is an author. 5% is an illustrator 6%, maybe.
[00:23:20] So you'll get an advance on royalties, which for first time author could be as low as like $4,000. It's not, it's not, you know, it's a.
[00:23:31] book, not a toy line. It's like different in terms of scales. So the way you're going to make it. You're living as an author, you have to be, you know, a high selling author and then you'll get more advances, you know, higher advances, the more books you sell, but it's just a very slow, slow moving industry in terms of.
[00:23:53] It'll take a year to sell a book. I mean, my, my, my situation was a little different. It, it happened in an non-typical way. Right. But a typical way, you know, to have an agent to sell an, a book, it will take you know, months, months, and then a year or two to publish. Like it's a long lead time and you have to write a lot and be prolific and constantly selling.
[00:24:17] And you know, it. I wanted, because I obviously kind of do my own thing. When I have an idea, I just decided I'm going to do it. Whether it's going to work or not, it's almost irrelevant. It's it's like, I want to do it. I want to try, like, you can't go into something thinking it's not going to work. You have to go into it thinking it will work.
[00:24:43] And then whether it does or doesn't, if it does it's when, if it doesn't you learn and you get somewhere better. That's like my whole journey, Right,
[00:24:51] So for me, this idea of this company, like now I have distribution with the largest independent distributor in the us. So on par with the top five publishers.
[00:25:04] So I, all my books will be in the retail spaces, can be in the Barnes and Nobles, the target, the Walmart, the airport stores, all that I have that distribution. And I have the direct to consumer piece. So what I've offered to some of my author, friends who I know who are entrepreneurial, who do market their stuff, is to come on as an author in my company and access my system. right.
[00:25:32] So you don't have to build your own company to get that distribution, to do all the metadata, to do all that stuff. You just got to write your book. Put it in my system and market it. And then we'll do a profit share that, you know, they're walking away with 70, 80% of their profits versus a 5% royalty.
[00:25:55] So it's just a different way of doing things, but you have to be that entrepreneurial type person to do it because you're not going to adjust it even with a big publisher. Like if you just expect your book to sell. Yeah, again, you might be one of those people, but chances are you. Won't just because that's what the numbers are.
[00:26:19] The odds are like, you have to, you have to work. To sell something to build awareness, to get people, to know you, to like your work. And it's almost like a brand building process. So but if you want to do that, like, and then keep more for yourself, I just really believe that I'm a creator and I've been on the business side and I get the business numbers, but I figured out a way to make it more of an even playing field for the creator and the business me.
[00:26:52] So it's like the risk is spread a little more evenly, but the rewards are much greater for an author or an illustrator doing it this way than traditional publishing. And you have more creative control and you can put out more work quickly versus waiting for so long.
[00:27:10] Azhelle Wade: What I'm hearing is the benefit is like you're instead of spending all this time, building a business, like building, like getting the distribution connections, maybe when you're talking about direct to consumer, I'm assuming you're talking Amazon.
[00:27:22] Karen Kilpatrick: Amazon. and I'm building out my own DTC site kind of like I did with the legal services thing.
[00:27:28] Azhelle Wade: Oh, that's awesome. And does that, does your business also handle like warehousing if people need that. That's amazing. So you can essentially, so let's say I'm a mommy blogger and I've got all these followers and I have a great idea for a book instead of wasting all of my time, trying to build a business from scratch, because I just have one book idea.
[00:27:47] I can come to you, come to your company and say, I've got this great idea I'm going to develop, or maybe I've finished this book.
[00:27:53] Karen Kilpatrick: Yeah. So I think that's a great example. Like, so for people who already have a following, like it's perfect because what you would give up is the advance. Let's say you want that 10,000, 15,000 advance. I'm not going to do that because that's just not what the model is. Sorry. But you'll make so much more money in the long run because you know, people are going to buy your book. You have a built in audience. So, why wouldn't you keep 80% instead of just getting 5%? To me that was a no brainer, which is why I built the whole system in the first place. Like I wanted to keep more, I knew I could sell and since I can sell, I wanted to keep that profit that allows me to earn a living as a creative versus. Doing it as a side project.
[00:28:40] Azhelle Wade: yes. And also if you, I guess we should also say, if you don't have a following, this allows you the time to spend building it, instead of trying to simultaneously build that business, figure out how to sell
[00:28:51] Karen Kilpatrick: Right?
[00:28:52] I don't have a following.
[00:28:54] Nobody knows who I am.
[00:28:55]Azhelle Wade: So let's say somebody is starting and they don't have a following maybe. You know, maybe they got like 500 family friends following them on Instagram or something. At what point do they have to get to before coming to your company?
[00:29:11] Karen Kilpatrick: Yeah you don't need a following. And that's the thing, the beauty of it is, is I sell by leveraging the following of other people, because I am not like an inherently social person. Like I don't, it's just not my thing. Like I wish I, I wish I was like really into social media. I'm just not, so he's on my to do list and never gets done.
[00:29:33] So like, but there are other people who have huge followings that. You know, I reach out to again, establish the connection form the relationship. And they ended up being the people who drive myself. When I launched my books, it was it, the launch was to over 1 million people You know, followers online on Instagram, through my network of.
[00:29:58] People who posted and talked about it on launch day. It wasn't me. I didn't have a million followers, but combined, they all did. And they all posted. And that's what drove my book to number one. So you can leverage other people's communities. And the big thing too is once w if you self publish, you can always run ads against your books on Amazon.
[00:30:19] So traditional publishers won't run ads, they'll run ads at launch. And then shut them off, but they won't be on all the time. So those books, sales will peak and then they'll go away because there are new books coming in. But if you're controlling your marketing, you can always, I mean, I always say this about online marketing. Like if, you know, if you put a dollar in, you're getting a dollar 50
[00:30:43] Azhelle Wade: Yeah. You just put your whole life savings in there.
[00:30:46]Karen Kilpatrick: Why would you, do you ever stop putting the dollar in?
[00:30:49] Is the question.
[00:30:50]Azhelle Wade: iOs14 updates. That's why,
[00:30:52] Karen Kilpatrick: Well, yes,
[00:30:54] Azhelle Wade: that's
[00:30:55] Karen Kilpatrick: see how all that all plays out, but on Amazon it's different. right. And so you're advertising on Amazon. So,
[00:31:05]Azhelle Wade: You mentioned that you know how to reach out to these communities and utilize Amazon and all these things, but is that also going to be a service that's a part of working with you.
[00:31:16] Karen Kilpatrick: right. So it, can be some people don't need nor want that because they have their own community already established. So for them it's just easy. It's just really getting, they need access to the trade and the trade is retail. Barnes and Noble is Walmart and distribution to Amazon because you can't go advertise your book on Amazon right? now, as an independent publisher, you have to have access to the right Amazon platform.
[00:31:44] And the distributor gives you that access. So, right. Well, they used to have Amazon advantage. And it's been closed to new publishers for about like five, six years now. I think they let people in by invitation only at this point, but it's not something you can just sign up. And if that's the case, you're, you can't run ads to your hard cover books.
[00:32:06] You could do print on demand, but the financials of that aren't that great. Like you just don't have a lot of money to market against pod because you're. Printing on demand. So you're playing a high print costs for every time someone buys your book. You want to have inventory. The only way to do it is to get inventory.
[00:32:24] Like, you know you print in China, you ship it here, you have inventory and you access the Amazon platform through the distributor. But Yeah. If you have a huge fan, Right.
[00:32:38] You did say you had your own followers who are going to buy your book. You don't, you know, that that works, that sells books, we know influencers sell stuff.
[00:32:48] Like if you you've got the platform, you've got the following, you know, you don't need that marketing help. So that's, that's a different model than like, if you needed help, like, I would. Then the percentage split would be different, but it would still be substantially higher than 5%.
[00:33:06] Azhelle Wade: I have one bonus question for you. What toy blew your mind as a kid?
[00:33:13] Karen Kilpatrick: Oh gosh, I don't know, blew my mind, but I was obsessed with cabbage patch kids in pound puppies. Cabbage patch kids in pound puppies. Yeah. I was like one of those, like I like made my own board games. I like built my own toys. I was like one of those, like, you know, just in my own little universe. So like the little doll dogs and dolls, like allowed me to like, create like my little stories and you know,
[00:33:40] Azhelle Wade: Yeah. Yeah.
[00:33:41] Karen Kilpatrick: the kind of person I was. It wasn't like anything. Major.
[00:33:45] Azhelle Wade: I think it's funny that you say they that's a person you were, but like now you're just creating stories in a different way.
[00:33:51]Karen Kilpatrick: Yeah. Oh, I can say now the person I finally
[00:33:54] Azhelle Wade: Yeah.
[00:33:54] Karen Kilpatrick: the lawyer, after that.
[00:33:57]Azhelle Wade: Lawyer to toy industry executive to self publish author to traditionally published author to publisher. What a journey.
[00:34:06] Karen Kilpatrick: Yeah. I just feel like, you know what you live once, do what You like,
[00:34:11] Azhelle Wade: You have,
[00:34:12] Karen Kilpatrick: a way you've just got to believe. You'll find a way.
[00:34:15] Azhelle Wade: thank you so much for coming on the show today. Karen, this was incredibly insightful. I, I feel like I lost myself for a little bit, cause I started loving getting down into the weeds with you about it. Because just authorship, it seems like so much fun. And I love hearing that you're making it a little bit easier for people for first-timers to like, get their feet wet in that world.
[00:34:36] And I do have some people to introduce you to, so I'm excited for them to get you as well. Awesome. Yeah.
[00:34:42] Karen Kilpatrick: Awesome. Well, thank you so much for having me. I always love talking to you .
[00:34:45]Azhelle Wade: There you have it. This is the golden age of internet marketing and people like Karen Kilpatrick are helping create a new path for creatives to monetize their ideas. Karen, utilize the pieces of her. If you remember the episode where I talked about the pieces of you to create a system that gives her life and joy and lights her up as she helps.
[00:35:11] Other book authors make a living doing what they love. Now I've got two key takeaways. I want you to remember from this episode.
[00:35:19] Number one, 100% of profit of something really small is still really small. And 3% of something big is likely much more massive than you initially realize. So if you have the opportunity to license your toy idea, or your IP to accompany with multimillion dollar brands, don't immediately turn your nose up at the opportunity. Do the math, if your licensed IP or your licensed toy invention turns into a $20 million brand, that 3% at $600,000 is nothing to ignore. I've interviewed many people now that look back on deals, they turned down.
[00:36:02]Early in their career because the percentage sounded small, but it only seems small when you don't understand the massive numbers, these bigger toy companies or entertainment companies can do. So just make sure you're doing your math and thinking it through before you say no, I can't give away my baby for 3%
[00:36:22] Number two be a professional creator and inventor. What does that mean? Have many ideas, Karen called them. Kids have many kids and believe in your ability to have those many ideas. It's a special talent to be able to just love up an idea and give it your whole being and leave it just as fast so you can move on and create the next idea. So I want you guys to practice being a professional creator and inventor. This is what you do now. Okay.
[00:36:57] Our listener spotlight today is super sweet from coal hill. Coal hill says, look no more. I can't say any more about this podcast other than it's exactly what we need as potential toy creators. I follow the toy coach on IG and listen to all of our episodes. And I'm so inspired. She helps me feel like I can do this. My four year old daughter and I have started our own handmade heirloom dolls of diversity brand. And listening to this podcast has helped, helped us pitch for mini grants and really make this dream come true. Thank you so much, Michelle. We can't wait to meet you one day in person and say thanks in real life.
[00:37:37] Oh. Cole hill. I can't wait to meet you one day in real person and hear all about the amazing things you've been able to accomplish with just this podcast in your ear. That is amazing. Okay. As always Toy people. Thank you so much for spending time with me today. I know there are a ton of podcasts out there, so it means the world to me that you tune into this one until next week.
[00:38:02] I'll see you later. Toy people.
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🎓Learn more about how you can develop and pitch your toy idea with Toy Creators Academy® by clicking here to visit toycreatorsacademy.com and join the waitlist.