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Another new license product!

teddywd's Avatar

Another new license product is out January 12, 2017 for bathroom storage. For all inventors never give up!! Four new ideas coming.

David .
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sunto's Avatar

Good luck with the sales of your new licenced product.

Your right about not giving up.

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sunto's Avatar

Well  that's a real negative spin .

Doom and gloom .

I think I should just pack it all in now and take all your advice . Not. 

Doom and gloom. 

And I like EN.

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sunto's Avatar

Sounds like you have had some bad experiences I totally understand all your points .

My products are not mass market products they are all work related around construction so I would probably waste my money joining EN . So really I have no choice in being them to market myself. Not everybody's cup of tea it's real hard work and you do a lot of  work for love . When things go right it's a great feeling but theirs always something round the corner to bring you back down to earth.

I wish you good luck with your EN submissions and hope to see others get successful product brought to market with a little help from EN.

Michael Heagerty
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rogerbrown's Avatargold

Jimmy's Band and David illustrate exactly what I have been saying here for years. There is more than one way to get a product to market and every Inventor needs to find what works best for their situation.

I found out long ago if I wanted to be a serial Inventor I do not want to build a company around each of my ideas. The amount of time it would take to build a company around each idea would keep me from pursuing many of my ideas. In my case it makes more sense to license the ideas to a company that already has a distribution system and manufacturing capabilities.

I have gotten 11 products licensed in the toy, tool, kitchen, eyewear and nuclear industry spending less than $100 on each and some as little as $8. Using just a NDA and sell sheets. No patent, no PPA. Would this route work for everyone, No. Why, because eveyone has different needs. Look at all the successes of people here in the forums they are very diverse.

But they all have some core things that you need to do to find success. It doesn't matter if you are looking to license or build a business around your idea you first need to do the research on your idea to see if it has a market, who your competition is and does your product answer the Better Than question. You need to decide if building a business or licensing it is the direction you should take. Once you know the direction you want to go you need to formulate a plan on what steps you need to take next to keep you moving forward and understand the money and time you can put into this venture. 

You need to know your limitations and where you will need help along the way. It makes no sense to start building a product when you know it needs more design work or engineering. With all the tools available you can do a lot of testing using computer models before you make the first prototype.

You don't contact companies touting your product is worth millions when you haven't even looked at what is already on the market. 

Whether you are looking to license or build a business around it you need to know your product better than anyone else and you need to be able to point out how your product is better than what is currently on the market. If you act like the competition does not exist you are only fooling yourself.

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