It’s a frank, unfortunate truth: not all aspects of inventing and licensing a product are fun. And if you’re under the impression that they are… it’s more likely than not you’re not as successful as you could be!
Many inventors stick with the fun stuff. They invest all of their time in the aspects of the process they enjoy, like creating prototypes and designing product variations. Some may enjoy writing patents. Others love the excitement that accompanies dreaming big. Whatever it is, inventors tend to stick with what they feel comfortable with. That’s a normal tendency – all people do, to one extent or another.
But in reality, the success of an invention and an inventor is dependent on their ability to sell. Contacting companies, making introductions, being persistent, getting rejected – these are all parts of the sales process that many people do not enjoy. But they’re so, so necessary. If you find yourself hopping from one prototype to another, you’re not spending the time and energy you need on sales! If you aren’t reaching for advice and mentorship from successful individuals before you, you’re doing your invention a disservice. All of the tasks I’ve named take courage – the courage to put yourself out there! To interact with other people! To ask for help, to ask for a licensing.
You’re going to have to take off your “inventor” hat long enough to put on a business one: these tasks may be perceived as less fun, but that isn’t a good enough reason to avoid them! Bite the bullet. The more comfortable you get selling your product, the more successful you will be.
Stephen Key is a successful award-winning inventor who has licensed
over 20 products in the past 30 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 listen to the weekly radio show on inventing. Get In The News, list your invention to have media outlets find you for news stories.