I need a lot of money. Everyone thinks they need a lot of money to be a successful inventor. “If only I had a million dollars… If only I could afford…” You don’t need money, you need knowledge. You need to understand how the system works. You need to know how to put together a sales sheet and contact companies – not mega bucks.
I need a lot of experience. Sometime I believe the less experience you have, the better. The best thing you can do is to get your feet wet and jump in there. Find people who do have experience and learn from them. But at the very least, get in the game. A little naivety may help you push forward – it’s more important that you have drive and persistence.
I don’t need to learn sales or marketing skills. Yes, you do. If you don’t possess either of those skill sets, find someone who does and partner with them. If your verbal sales skills are weak, rely on other methods to sell your product, like creating an excellent sales sheet or YouTube video. Inventing means constantly marketing your product to companies. You’re showing them why they need to license your idea from you – that’s marketing. Everyone erroneously believes that inventing means prototypes and patents. It doesn’t. It means marketing and sales.
I don’t have to continually learn and invest in myself. I’ve been inventing for thirty years and I’m constantly trying to improve my skill set and keep up to date. Educate yourself. Use forums, groups, trade shows, or books. Always try to up your game.
I can do it all on my own. You can, but it’s very difficult. Team up. Find someone that you can work with, your better half. If you’re creative, but don’t like sales, find a salesman. If you love sales and marketing, find someone who can draw and design your sales sheets. Identify your weaknesses and plug them. The road is going to be infinitely longer and more challenging without support.
Special thanks to Linda Hollander from The Wealthy Bag Lady for inspiring this blog post. You can read Linda’s article “Top 10 Myths about Small Business” at her website: www.wealthybaglady.com
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 ask questions and get advice on the inventRight forum, check out the resource center, and listen to the weekly radio show on inventing.