The final roadblock that I’ve discovered inventors suffer from the most is a fear of the unknown. They’re unsure of what do to next. They don’t know how to call a company. They don’t know what company to call. Their lack of information prevents them from moving forward, as well as their inability or unwillingness to get informed. But ultimately, you’re never going to know as much as you wish you did. A lack of information isn’t a good enough reason for inaction! Remember that you’re going to learn by doing.
I understand that it’s not that easy. It’s hard to find information about the steps of licensing a product, and furthermore, determining if that information is good or bad. Books will only get you so far. What I recommend doing is developing a network of friends and contacts, people you can turn to for advice. Find a mentor and a coach. A great way to start would be to investigate if there are any local inventors chapters in your area. There is also a thriving online community of inventors who love to share. Talk to other people about how they achieved success and apply their lessons to your own product.
Get ready to get your hands dirty! Get in it. Have so many experiences you’re able to mentor another inventor. We all learn what we do know from what we originally did not. Don’t let “I need to know more!” “I’m lost!” “I need to confirm if this is really the right step to take…” stop you from bringing your product to market. Do you really need to be more informed? Or are you simply fearful of what the future may bring? Your product-idea deserves thoughtfulness and attention, but not inaction.
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.