Many inventors feel as though they’re doing everything wrong – nothing is working out, they can’t find someone to license their idea, and they’re exhausted. Unfortunately, more often than not, inventors are doing everything the harder way. And there are usually two reasons for this. The inventor hasn’t sought any advice from an experienced inventor or the inventor is following advice they received from someone who has had no success at the inventing game.
There are many individuals who claim to be helpful advisors, dispelling wisdom about how go about achieving your goals. The task of finding a good advisor can be downright overwhelming, given the large number online and in print. But its incredibly important you find an advisor (or at the very least, take advice from) an individual who’s proven their success, who has actually accomplished what you’re attempting to. Many advisors give the same advice to absolutely any businessperson; be wary of these advisors and their generic advice. Is the advice coming from someone who has actually brought a product to the marketplace? How many companies have they licensed products to? How much profit have they earned from their efforts? And furthermore, the inventing game differs greatly depending on the industry. A good advisor will refer you to someone in your specific field if need be. Try to find a mentor who creates products for the same type of industry!
Other inventors fail to seek out any advice, preferring to believe they can figure it all out on their own. While this conviction is commendable, why wouldn’t you try to learn from all the tens of thousands of mistakes made before you, by inventors like you? Although finding good advice can be tricky, as I stated in the paragraph before, it’s not impossible. Most importantly, where is the advice coming from? There is no need to try to invent the process of bringing a product to the marketplace yourself. Find someone you trust and believe to mentor you. And always, feel free to take advice with a grain of salt. You certainly don’t have to follow it.
And finally, some inventors are cheap. Although you may be on a very strict budget, the advice you receive from friends, family, and free counsel is unlikely to the best – if not some of the worst. As with everything, you get what you pay for. I constantly blog about some of the resources I think are best for inventors; the people and the programs and the non-profits that are both affordable and effective.
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.