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THE ONLINE INVENTOR – November Issue

(c) 2005 Market Launchers, Inc.

http://www.marketlaunchers.com

Editor:  Paul Niemann

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In this issue …

You are receiving this free newsletter because you signed up for it either at my MarketLaunchers.com web site, or by sending me an e-mail. If you want to unsubscribe, just hit the "reply" button and type in the word "unsubscribe."

PUBLISHER’S NOTES:       Time-out for a brief self-serving message … With the Christmas shopping season soon approaching, you might be going through the same frustrating thing again this year – what gifts should you buy? Especially for the men in our audience – men hate shopping. Well, I have a suggestion for you: Order the book “INVENTION MYSTERIES: The Little-Known Stories Behind Well-Known Inventions,” then read it for your own enjoyment, and then wrap it up and give it to a friend or relative. It’s not written specifically for inventors; it’s for anybody who likes to be entertained, and maybe learn a thing or two in the process. Best of all, it comes with a 90-day unconditional money-back guarantee. You can order it through your local bookstore or you can get a signed copy at http://www.InventionMysteries.com for $12.95 (or buy 3 and get 1 FREE).

Today we introduce you to a new feature – your invention tales. We start out with 3 stories of what inventors have done WRONG in their inventing experiences (and how you can avoid making the same mistakes). In next month’s issue, we will reveal 3 things that our readers have done RIGHT (and how you can copy those methods).

I know you’ll enjoy this issue! Have a Happy Thanksgiving!

Best Regards,

Paul Niemann

 
http://www.MarketLaunchers.com

 
800-337-5758

 
217-224-8194

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Article # 1:       “The # 1 Biggest Mistake that Inventors Make … And How to Correct It,”

Article # 2:       “The Perfect 3-Step Approach for Contacting Potential Licensees,” by Paul Niemann of MarketLaunchers.com

Article # 3:       “Real-life Inventor Bloopers,” submitted by your peers.

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Article # 1:      “The # 1 Biggest Mistake that Inventors Make … And How to Correct It,” by Paul Niemann of MarketLaunchers.com

In religion class as a youngster, I learned that there are sins of commission (things which we should not do but do), and sins of omission (things which we should do but don’t).

On a different note, do you remember when Ross Perot ran for President in the 1990’s? He used to tell us what was wrong with America. Figuring out what the problem is – that’s half the solution right there. You mist define the problem.

As the headline indicates, I’d like to reveal the # 1 biggest mistake that inventors make … and then tell you how to correct it.

First the easy part – figuring out what the problem is. It’s been said that 97% of all patents fail to produce a profit for the inventor. The biggest mistake, assuming that there’s a market for your product, is a sin of omission: Failing to contact companies.

Why do so many inventors fail to contact companies who are capable of licensing their products from them? For the same reason that we were afraid to ask that cute girl to dance with us at our junior high school dance – because we’re afraid of being rejected.

I used to work in sales, and our sales manager used to tell us that it takes 3 “no’s” before we find 1 “yes.” That’s really all you need, just 1 yes from the right company. Yet, if we don’t contact any companies, then we’re practically guaranteed to fail. It was Wayne Gretzky who said, “We’ll miss 100% of the shots we don’t take.” Truer words have never been spoken.  

That’s the easy part – figuring out what the problem is. The hard part is knowing how to approach companies who are potential licensees. Read Article # 2 to find out more. In next month’s issue, I will reveal the # 2 biggest mistake that inventors make … and then tell you how to correct it.

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Article # 2:      “The Perfect 3-Step Approach for Contacting Potential Licensees,” by Paul Niemann of MarketLaunchers.com

This is a very uncomplicated process, and it can only work if you’ll use it.

1.         Make the phone call to introduce yourself. With a list of potential licensees, set up your schedule to where you will make at least 3 calls every Tuesday morning. (Tuesday morning is good because every week has one.)

2.         Mail a letter (with a sample if you’ve had him sign a non-disclosure form) or direct him to your web page, assuming you have one: People can’t buy what they don’t see, so it’s better to have a picture, a drawing, a prototype or a finished product to show him. Words alone are not enough. If you have a web page, you can accomplish Steps # 1 and # 2 at the same time.

3.         Follow up with a phone call: You must follow up. He might not have received your information or product sample in the mail, or maybe he’s just not convinced. Maybe he didn’t understand what your product is or how it works or who it’s intended for.

What if he turns you down? Can you try again later?

In some cases, yes. For example, if you have new information, such as a redesigned package or you think the market is now ready for your product, etc., it might be right to call him again. Also, he might no longer be working at that company, and his successor might be more interested than he was.

What if you get turned down again?

If you do the steps in these first 2 articles and still don’t succeed, then maybe there isn’t a market for your product, or maybe the market is not ready for it. At least you found that out now because you were willing to make those calls … not it may be time to put this product on hold and move on to your next great idea.

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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 own “online brochure.” Plus, there are companies who search the MarketLaunchers Invention Database for new products.

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Article # 3:      “Real-life Inventor Bloopers,” submitted by your peers.

Here are 3 mistakes that an inventor made. All 3 of these were from the same inventor who despite making a few mistakes, WAS STILL VERY SUCCESSFUL WITH HER INVENTION.

1.         “When I hired someone to make my mold, I didn’t explain what I wanted.”

SUGGESTION:           “Give him a blueprint to follow – a drawing. The moldmaker didn’t tell me that he needed a drawing. His wording in the agreement said “accommodate” which id did but it should have said “hold in place or secure”

2.         “I had already made some sales when I signed a licensing agreement. They paid a royalty on this account, but not on the accounts that I already established before licensing it to this company.”

SUGGESTION:           “I could have kept those retail accounts for herself.”

3.         “Inventing is the easy part. Packaging is the hard part. When I licensed it to the big company, they sold it overseas and changed the packaging into 4 languages, which made my instructions a waste of my time.”

Send me an e-mail with either your SUCCESS or TEMPORARY FAILURE stories to [email protected]

The inventors whose stories I publish will automatically receive a FREE, SIGNED copy of the Invention Mysteries book. We’ll continue this feature as long as YOU continue to send in your stories. Your name will not be used in the story, so as to not embarrass anyone.

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THE END

If you wish to distribute this issue of “THE ONLINE INVENTOR” to your local inventor group or friends, please send the *entire* issue by clicking Forward. If you change your e-mail address, please subscribe with the new address in order to continue receiving it each month. If you wish to unsubscribe, simply reply with the word “unsubscribe” in the subject line. You can view past issues of “THE ONLINE INVENTOR” at http://www.marketlaunchers.com/archives.html  Until next month, Successful Inventing To You!

Thanks & Best Regards,

Paul Niemann
http://www.marketlaunchers.com/customer-testimonials.html

 
(800) 337-5758 (within the

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