FAQ  •   Login  •   Register  •   Subscribe 

Welcome to the Forum for InventorSpot.com, the most popular invention related website in the world. Read our welcome message.

Skip to content

Moderators: Michelle, Scrupulous, Roger Brown, citizen


Lesson # 32 You Need To Have Realistic Expectations

Postby Roger Brown » Sun Aug 28, 2011 9:00 am

User avatar
Roger Brown
Black Belt
 
Posts: 1179
Joined: Mon Oct 30, 2006 2:53 pm
Location: USA
I am posting this because I feel it is really needed to help all Inventors. I am getting more and more emails from Inventors that do not have realistic expectations. They are approaching me and various companies with an attitude that makes Inventors as a group, look highly unprofessional. This same attitude is what makes Inventors ripe for rip-offs. They are quick to jump on the band wagon of companies that promote “You will make millions from your ideas if you just sign on with us”. As we have seen these rarely come true and the Inventor is in debt with nothing to show for it but heartache.
I have exchanged 14 emails with this person trying to get them to understand what they thought was correct, is way out of line with what is realistic. They seem to have a better understanding of how the inventing process works now.
Take a look at some of these statements and I think you will understand quickly that no company would meet their expectations and they are not realistic. We need to spread the word to Inventors that this type of thought pattern is not going to get them anywhere other than broke.

From their first emails:
Hey Mr. Brown I’ve been trying hard but no luck yet. I was wondering if maybe you can help me with my invention for a __________ ,consider it a double upgrade of all _________. I’m willing to sign as co-inventor and I only want two checks, so you may keep all the royalties, no bull.

From their 4th email:
How about I’ll sell you my idea for a _________ for 2 million you can launch it whenever you want, or a _________ idea it’s also revolutionary for 4 million. 1 million first then the rest when you launch them of course, we can arrange a payment plan if you think its price or don’t have the money for it, this will be my last offer, thank you for your time sir
They also solve problems of course my ideas I thought them up to be absolute and make people dispose of their old item.

The first issue is they think a company will give them a million dollar advance. If you had the cure for cancer, maybe, but a kitchen utensil or a toy, no way. This comes from that thought pattern that every idea you come up with is worth millions. Which we know is not true. Just as we know every idea is not marketable.
Then they assume just because their idea is good you will throw away whatever item it is you have in your house right now just so you can replace it with theirs. If I came up with a toilet that used less water per year and flushed quieter would you immediately take the ones in your house that are functioning properly and throw them in your front yard and go buy my toilet? The answer for the 99% of consumers would be, No
If you were looking for a toilet at the time mine came out on the market you might consider mine to purchase. Just like a hotel that has 400 toilets is not going to immediately rip all 400 out and replace them with mine. Yet, when you see figures for these Inventor’s products/ideas that is exactly what they assume.
“According to the Plumbing Manufacturer’s Institute there are 225 million toilets in the U.S. Of these almost 50 million are low-flow.”

So, when I write my sell sheet/pitch do I say that my projected sales are 225 million, because every single toilet in the U.S. will be replaced by mine? No!!
Inventors need to stop what they are doing, do more research on their idea and have realistic expectations if they want companies to take them seriously. Even if you have a fantastic idea you will find it hard to get it in front of the right people if you approach them with unrealistic expectations.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.

Re: Lesson # 32 You Need To Have Realistic Expectations

Postby Roger Brown » Mon Oct 10, 2011 11:01 am

User avatar
Roger Brown
Black Belt
 
Posts: 1179
Joined: Mon Oct 30, 2006 2:53 pm
Location: USA
Find a person that will give you their honest opinion of your product, not tell you they love it because that is what you want to hear. It may hurt to hear your idea stinks, but it is a lot better than hearing it is wonderful and you are in debt over your head because no one bothered to give you honest feedback. I have seen items from Inventors that just looking at it I can name three other devices on the market that are better than what they are proposing. If your idea is inferior to what is already selling that should be a BIG RED FLAG you need to stop and rethink what you are doing with this project. And you need to learn not to shoot the messenger since they just saved you a lot of wasted work and money by telling you the truth.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.

Re: Lesson # 32 You Need To Have Realistic Expectations

Postby Roger Brown » Fri Nov 11, 2011 10:40 am

User avatar
Roger Brown
Black Belt
 
Posts: 1179
Joined: Mon Oct 30, 2006 2:53 pm
Location: USA
The problem you have with a number of Inventors is they are stuck in the fantasy mode of my idea is worth millions, everyone will buy one even if they don’t need it just because you thought of it, the company licensing it will be so happy you found them they will shower you with money. They forget the reality of inventing which is, inventing is a business, companies want a return on their investment, you are not the only Inventor approaching them, all of your ideas are not pure gold, companies will say No even if it does not make sense to you.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.

cron