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THE ONLINE INVENTOR -- May 2006 Issue

 

(c) 2006 Market Launchers, Inc.

 

http://www.marketlaunchers.com

 

Editor:  Paul Niemann

 

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Dear Inventor –

 

I’d like to introduce you to the sequel to my popular first book, INVENTION MYSTERIES. This one is called MORE INVENTION MYSTERIES: 52 Little-Known True Stories Behind Well-Known Inventions. The book is a must-read for inventors … full of interesting trivia about America ’s favorite inventions – and it will inspire you as well. For more details, surf on over to http://www.InventionMysteries.com 

 

Article # 1:      “TOP TEN INGREDIENTS for SUCCESSFUL INVENTING” by Lawrence J. Udell

Article # 2:       “If I had a nickel for every time an inventor said that!” by Paul Niemann of MarketLaunchers.com

On with this week’s article …

 

Best Regards,

 

Paul Niemann

http://www.MarketLaunchers.com

800-337-5758

217-224-8194

 

TOP TEN INGREDIENTS for SUCCESSFUL INVENTING

By Lawrence J. Udell

 

1.         Believe in what you are creating, but never be blinded by the potential for success, always remain realistic

 

2.         Solicit the advice of others that you trust, to assist in the design, the research, marketing, financing, etc.

 

3.         Conduct extensive market research by using data bases and the reference sections of major libraries

 

4.         Don’t invest a dollar until you have explored the potential and the realistic opportunity

 

5.         Never fall in love with your creation, since if it could be successful, then you may have to release it to others for commercialization

 

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ADVERTISEMENT:    

 

If you contact companies about licensing your invention, then it makes sense to get your own web page so they can SEE WHAT YOUR INVENTION LOOKS LIKE AND HOW IT WORKS.

MarketLaunchers.com builds web pages for inventors, it's affordable and we're easy to work with! Visit our site and see what other inventors are doing. www.MarketLaunchers.com  

 

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6.         Consider the competitive advantages of your invention and how it will positively or negatively affect the existing products

 

7.         Evaluate whether it is logical and feasible to go into business to make and sell it, or license it to an existing company

 

8.         Never do your own negotiating in a licensing-royalty arrangement, always hire someone with experience to represent you

 

9.         Always remember, if you can create one invention that may be a success then you can also think of many more

 

10.       In everything you do, never let greed be your judgment factor, it will always destroy the greatest of opportunities

 

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Larry Udell is Executive Director of the California Invention Center and the Center for New Venture Alliance . He can be reached at Intellectual Property International, 3766 Brookdale Blvd. , Castro Valley , CA 94546-2014 . Phone: (510) 888-1998. E-mail:  [email protected]

 

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“If I had a nickel for every time an inventor said that!”

Paul Niemann of MarketLaunchers.com

 

I received a letter today from an inventor who said, “My invention will revolutionize the world!” This is similar to the letters, phone calls and e-mails which state that “Everybody will buy my invention as soon as it gets on the market.”

 

If I had a nickel for every time I heard an inventor say that, I would have, by my estimation, approximately $17.85. In this article, I am going to explain why this is the wrong thing to say to a potential licensee, and what you should say instead.

 

FIRST, here’s why this is the wrong thing to say.  2 reasons:

 

1.         They’ve heard it before because many inventors think their own invention is the best, and it nearly always turns out to not be true.

 

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ADVERTISEMENT:    

 

If you contact companies about licensing your invention, then you should have your own web page so they can SEE WHAT YOUR INVENTION LOOKS LIKE AND HOW IT WORKS.


MarketLaunchers builds web pages for inventors. It's affordable and I'm easy to work with! Visit www.MarketLaunchers.com to see how YOUR INVENTION would look on the internet. 

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2.         If the person who you say it to doesn’t believe it, then he’s probably not going to believe anything else you tell him. And why should he, if you’ve already undermined your own credibility?

 

NOW, here’s a better approach:  Be specific and base your comments on RESEARCH that you’ve done. For example, say something like, “Of the 50 potential customers in our market who I’ve shown it to, 46 said that they would either definitely or probably buy it if it was priced at no more than $19.95.” 

 

This is better than saying, “Everybody will buy my invention as soon as it gets on the market” because it is based on research and because it is specific. Sometimes it’s better to undersell than to make what sounds like an exaggerated claim.

 

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Paul Niemann runs MarketLaunchers.com, building web pages for inventors. Having your own web page allows you to show your invention to companies when you’re unable to present it to them in person. It can serve as your “online brochure.” Plus, it can be seen by companies who search the MarketLaunchers.com Invention Database for new products.

 

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