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How To Finance Your Invention

Postby tony.fulford » Wed Jan 23, 2008 5:09 am

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There seems to be a great deal of interest in this subject here at ISpot. Over the next week or so I will be addressing it from 2 perspectives:

  1. Licensing Your Idea/Invention
  2. Producing Your Idea/Invention
Licensing Your Idea/Invention

For licensing, you want to find potential licensees while it is still in the idea phase. See my topic:
There is additional risk involved when taking an idea, rather than an invention, to a potential manufacturer, but quite honestly they hold all the cards in this game and you have little choice if you want in the game. When you have interest from a manufacturer and it comes time to negotiate a licensing agreement, you want them to pay for the patent application. This is usually not difficult, as they are the ones that will have to protect the patent.

Producing Your Idea/Invention

Before I start this, I think it would be good to get familiar with some terms used in the industry:
You have a great idea or invention and you want to produce it and sell it yourself, right! The first thing you need to understand is that banks, angels, venture capitalist, stockholders, etc. will be looking for a viable company first and your product (invention) second. If you cannot convince them that you can put together a viable company, your chances at obtaining financing are minimal.

You first need to do a self-evaluation to determine if running a company is right for you. If not, and you still want to produce and sell your product, you need to find appropriate management to run your company. Start by going to the SBA website and reading:
Now, I know you do not want to hear this, but a Business Plan is KEY to getting your financing. I know, you are an inventor and you think that if they hear about your invention, the money will come! WRONG! You are the one that wants to produce and sell your invention/product, so do yourself a big favor and go and look at some of the SAMPLE business plans at:
We all have questions about financing, get some answers!:
Links to Financiers:
The above is just a very small sample of sources, for more than you can handle, Google: finance angels OR venture

There are a lot of frauds, scams, and cons waiting for you out there. The first thing you should do is Google with:
    "the company name" scam OR fraud OR con
with the company name in quotes as shown. Small businesses, especially start-ups, are prime targets for these shysters. Don't become a victim!


For those of you that offer financing of various types or business services, please go to:

and let us know about them.


Stay tuned!
Last edited by tony.fulford on Fri Jan 25, 2008 12:46 pm, edited 13 times in total.

Postby CEO Space » Thu Jan 24, 2008 7:34 pm

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I have to tell you, Maria Simone, in our CEO Space network, is phenomenal at getting inventors prepared to get funding.

If anyone works with her, tell her Kathy Hadley sent you. We are great friends. I've seen her results.

There are lots of other inventor resources at CEO Space. That is why our inventors win top awards in their fields and why so many of our members stuff is sold on HSN and QVC.

Good Luck,

Kathy

Postby tony.fulford » Fri Jan 25, 2008 4:28 am

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Welcome Kathy!

I invited the folks below over here to help me. They are an excellent resource when starting and running a business.

Visit them at:

Postby CEO Space » Fri Jan 25, 2008 10:02 am

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Tony, here is the post from the community forum. You had asked me to continue posting here to help all the inventors.

Tony,

Yes, I will try and follow along both. You are correct about inventors not being the best business people.

But again, business people aren't inventors, either.

That is what is so great about our network at CEO Space. I would venture to say, that most
of the inventions that have launched from our network would have never made it otherwise.

Why?

Because most inventors want to go straight for capital when they aren't prepared with a business plan and a team. Most inventors couldn't afford to pay all the people they need to have a good team presentation that most investors want to see. That is one of the things we teach in our network, how to gain your team and how to raise your capital.

The two videos called "Show Me the Money" and "CEO Space Explained" show a little bit of that
with real people. They are on my site http://www.ceospaceworld.com . Just sign in and then click on the video link on the left side.

Good luck
Kathy Hadley
www.ceospaceworld.com

Postby tony.fulford » Fri Jan 25, 2008 10:40 am

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Kathy - CEO Space

I also encourage you to put CEO Space in our resources by following the Submit Inventor Resource link in the main topic. You have good things to offer and we don't want them to get lost.

Postby tony.fulford » Fri Jan 25, 2008 12:54 pm

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OK, I am going to pause for a little while and let you tell me what else you want in this topic.

After that I will round-it-out and close-it-up and we will just talk about it from then on.

Thanks in Advance for your suggestions and participation!

Postby CEO Space » Fri Jan 25, 2008 5:38 pm

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Tony,

As we have discussed in other threads, yes, I have dealt with many, many inventors, (am dealing with even some from this forum) who absolutely know that their invention is such a great thing and will make so much money that investors are crazy not to just throw their millions at them.

And I have to say, the inventors even get just a bit insulted when you suggest that they need a business plan and a team so that they look attractive to capital.

That is why we have so much training on how to prepare and look attractive to capital at our CEO Space forums. And that is also why so many of the people in our network DO get funded......when they are prepared.

As a matter of fact, I just got an email from Bob Circosta, for those who don't know him, he is the God Father of home shopping (and a member of CEO Space) because he is going to have another 3 of our
inventor members going on his show on the air next month promoting their products.

My friend Maria Simone has helped a lot of inventors get prepared also, but really, one person can only do so much for you. You need all the people and thus comes the catch 22.

They need the money to hire the consultants and advisors to help them prepare so that they look good and can get the money.

Or you can join our membership and get all the access to what you need for less than the price of the retainer for just one consultant or attorney.

And one of the FAQ is Why inventors come to CEO Space?

Kathy

Postby tony.fulford » Sat Jan 26, 2008 9:29 am

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I am posting a link to 2 threads at:

I think you will find it interesting. DomainDiva, CEO Space, and others have some very good insight.
Last edited by tony.fulford on Sat Jan 26, 2008 9:43 am, edited 1 time in total.

Postby CEO Space » Sat Jan 26, 2008 9:31 am

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tony.fulford wrote:Kathy - CEO Space

I also encourage you to put CEO Space in our resources by following the Submit Inventor Resource link in the main topic. You have good things to offer and we don't want them to get lost.


Tony,

I couldn't find where to post in the Submit Inventor Resource
for www.ceospaceworld.com???

Postby tony.fulford » Sat Jan 26, 2008 9:48 am

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Kathy - CEO Space

Here is a link:


Thanks,
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