You’ve probably heard me say this before, but I could easily wallpaper my house with all of the rejection letters I’ve received. At the time, yes, they stung. They hurt. But time has passed, and they’ve become a sort of badge of honor – they’re a physical reflection of all the battles I’ve fought. Many lost. But some wars won!
But I think my greatest strength has been forming and maintaining relationships with many of the companies who rejected me. I’ve come to realize that they weren’t rejecting ME: maybe they were rejecting my product or maybe they were rejecting the timing. I’ve kept coming back. I’ve been professional. And I think I’ve morphed from the guy with “that idea”, to someone who is potentially capable of supplying them with a product they need.
If you stick with the game, if you keep it professional, if you don’t give up, you will start to see this transformation. You’re going to get the respect you deserve. As soon as potential licensees begin to understand that you’re doing them a service, they will start giving you more information about what they’re looking for.
Develop that layer of tough skin! Getting a few “yes’s” is so worth the many “no’s”. You’ve got to earn your veteran stripes, so to speak. If you get ten “no’s”, that “YES!” may be waiting around the corner. But keep it professional, always.
Stephen Key is a successful award-winning inventor who has licensed
over 20 products in the past 25 years. Along with business partner
Andrew Krauss, Stephen runs inventRight,
a company dedicated to educating inventors about selling their ideas
and the skills needed to succeed. You can and listen to the weekly radio show on inventing. Get In The News, list your invention to have media outlets find you for news stories.