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My ‘aha’ moment occurred in the shower one morning in 2002 – an epiphany for a slim wallet to hold many cards yet remain flexible and comfortable. I quickly built a crude prototype and discovered the idea could indeed be a real product, a better wallet. The dream of a ‘million dollar product’ burned like a flame: I vowed to do ‘whatever it took’ to make my product successful.
Well, things didn’t go very well for me for a long time: my customers loved my wallets, but those holding the keys to commercial success said it was ‘just another wallet.’ I spent many years chasing my dream, almost went broke. After 13 years I was frustrated and exhausted – having devoted the last 5 years pursuing DRTV (direct response television). I was seriously considering giving up.
Then, something magic happened.
I found one person in DRTV who believed in me and my slim wallets. Bob was willing to take some financial risk in my invention – he believed as I did it could work for television. We were both right and we both hit the jackpot: Wonder Wallet has been a huge commercial success on TV and retail stores everywhere selling over 1 million wallets in the first year.
Now it is My Turn to Help You
Success brought a lot of good things my way. I paid off my debt and took some nice vacations: two trips to Hawaii, a trip to Australia for 3 weeks, and two weeks in Peru with my children.
I know there are thousands of inventors like me who have great retail-ready products but who need just one advocate, one person to believe in them and help move their products forward to commercial success. My mission is to help as many inventors in as many ways as I can. I believe that with a little nurturing and success, independent inventors will create far more wealth and new jobs than most Fortune 500 companies. I want to be your advocate.
But, I’m not rich, how can I help? There are three key ways I can help inventors:
Module 1 – Advice and information across the 4 phases of the inventing journey:
Phase 1 – Product
- How to evaluate your idea
- Research – is it already out there?
- Prototype – get help or DIY
- Patent strategies – protect IP without going broke
Phase 2 – Plan/Paths
- Build a business around your product
- License your invention
- Commercial paths:
- Catalog or eCommerce sales
- Retail stores
Phase 3 – Partners
- Product reps
- Marketing/licensing assistance
- Patent attorneys/agents
Phase 4 – Production
- Finance options
- Manufacturing – US or overseas
- Packaging of your product
- Placement – where should you sell?
7 Keys to Invention Success and How to Manufacture in China are both free of charge.
Just click on Download Now to get your free copy.
Module 2 – Ideas to Wealth – Webinars for Inventors
I am developing a webinar called Ideas to Wealth designed to provide detailed information and guidance across the 4 phases of inventing: Product, Plan/Paths, Partners, and Production. Ideas to Wealth will feature live webinars, in-depth how to information on many topics including:
- How to work with manufacturers in China
- How to do a free detailed patent search for your product
- How to prep like a pro before going on air at QVC or HSN
- Licensing agreements – strategies to land the best deal possible
I am seeking input and ideas from inventors like you to tailor the webinar to fit your needs. Please click here to join the private Facebook group for Ideas to Wealth.
Please check out the two Ideas to Wealth videos shot recently from Peru.
Module 3 – Licensing Agent for Inventors with Retail-Ready Products
Thousands of inventors spend years working hard and taking risks to develop their raw ideas into workable inventions and finally retail-ready products. Unfortunately, most of them never find that key partner willing to help them over the final hurdle to achieving commercial success. For them, the dream ends with the quiet counsel of a spouse or trusted friend: it is time to move on meaning your dream is over. I truly understand because that very nearly happened to me.
My mission is to leverage what I have learned – to be that key partner to help the inventor to finally realize the dream of seeing their product on TV and in retail stores across the US and Canada. Who can I help and how can I help?
I can help inventors who have retail-ready products that meet the following criteria:
- Patent-pending – preferably on a utility patent
- Solves an annoying problem that affects millions of consumers
- Can be cost-effectively manufactured and sold for at least a 4X markup at retail
I help by serving as a licensing agent to the inventor. I represent his or her product to potential licensees – manufacturers – with a goal of executing a licensing agreement in exchange for royalty payments based upon product sales. The inventor pays me nothing unless we achieve a successful licensing deal for the product. Then I would share in a portion of any royalties paid to the inventor going forward.
None of this is easy and success is never guaranteed.
The reality is in most cases I am unable to assist the inventor due to a variety of circumstances. Niche products are difficult to license because retail is best suited for products with broad-based demand. Seasonal products are hard sells simply because they cannot be sold year round – making them riskier to manufacturers and harder to license. In other cases either I don’t see a way I can help or I don’t see a clear path forward to a licensing deal.
However, I have licensed my own products successfully and am currently working with inventors with good prospects for achieving success. Even in circumstances where I cannot help the inventor directly, I am often able to direct them to a resource that can benefit them.
For more details and information contact me directly – email@example.com.