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Re: One Simple Idea, by Stephen Key

Postby StephenKey » Thu Mar 03, 2011 1:55 pm

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Thank you for the feedback Roger. We fixed the title.
Award Winning Inventor Stephen Key - http://www.inventright.com
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.

Re: There is no such thing as a Provisional Patent

Postby Gizmo » Thu Mar 03, 2011 3:23 pm

Gizmo
 
Roger Brown wrote:Stephen you may want to change the title of your webinar “The Power Of Provisional Patents”. To say “The Power of Provisional Patent Applications”. Because there is no such thing as a Provisional Patent.

Just for clarification, a provisional application for patent is a legal document filed in the United States Patent and Trademark Office (USPTO), that establishes an early filing date, but which does not mature into an issued patent unless the applicant files a regular patent application within one year. There is no such thing as a "provisional patent"..


Nice call Roger, You used the term Provisional Patent a few weeks ago on EN. You have some post on this forum you have used it also

Which Comes First, Money or Research?
The concensus I have gotten from talking with a large majority of Inventors is that they jump ahead of the process and will dump money into an idea before they do any research. I beleve this comes from a fear that if they don’t file for a provisional patent or patent right away they will lose their million dollar idea.

Lost! Do I really need a patent for a silly idea?

There is no such thing as a Provisional Patent

Postby Roger Brown » Thu Mar 03, 2011 3:50 pm

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Gizmo, you are correct and if you look I think I used it more than a couple of times. That is my point, we all get caught up in the jargon from using it so long that we short cut terms or phrases. We refer to items such as PPA, NDA, ROI, MSRP, MOU, ISC and don't think twice about them or if the reader knows what they mean.
So, when I saw the mistake I wanted to point it out, because I know I have done this myself, not only for Stephen's benefit since he is doing a webinar on the topic, but the Inventor community as well. We need to make sure the information we give out is correct and help all of us not to keep misinformation alive.
It just goes to show you how easy it is to overlook something like this even if you have a staff working for you like Stephen does.
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: One Simple Idea, by Stephen Key

Postby StephenKey » Fri Mar 04, 2011 12:13 pm

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How To Be a Rock Star Salesman

What does it mean to be a rock star salesman? It means being the very best. And as we all know, in order to become the best at anything, we have to examine that thing or goal very closely. When it comes to sales, it’s all about the pitch. It doesn’t matter what it is you’re selling. Whether it’s your opinion, idea, program, or service, what’s important is finding the benefit. And not just any benefit: I mean the most emotional benefit. The benefit that really resonates with people and that grabs their heart and causes them to want to know more. The best benefits will actually cause people to think, "I want this."

Most people, even salesman, don’t actually understand the principle of benefits. When I ask most people about their idea or business, they talk on and on for 10 minutes. But a rock star is able to summarize the benefit of whatever it is he is selling into one sentence. He goes for the gut.

I have a couple examples of what it means to sell benefits. I’d read that labels never had enough space. So when I approached potential licensees for my Spinformation label, I knew the biggest benefit the innovation offered them was extra space. And that’s exactly what I told them -- in one powerful line. "I can add 75 percent more space to your label" was my statement. It didn’t explain how the technology worked or how many labels I thought they could sell. Though this information was obviously important, it wasn’t part of my pitch. When I approached potential sponsors for the Soyu beverage, I didn’t explain how vending machines would sell the tea in schools. I simply asked, "How would you like to get your message in front of one million teens?" They were hooked.

If you want to be a rock star salesman, understand the needs and wants of your client. And then satisfy them.

---------------
Reposted with permission from www.allbusiness.com
Award Winning Inventor Stephen Key - http://www.inventright.com
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.

Strange place to make a Pitch

Postby Roger Brown » Fri Mar 04, 2011 2:38 pm

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One thing I have learned over the years is you have to be ready to pitch your product no matter the time of day or location.

Here is my story. I developed a product called the “Super Sleever” while working for Westinghouse at a government owned nuclear facility called Savannah River Site. Westingouse ran the 200,000 acre facility as a subcontractor for the government. You can see the SuperSleever device on my website and read more on it here http://www.p2pays.org/ref/14/13978.htm . It saved the company roughly 4 million a year in waste reduction. I had gone through the company’s IDEAs program and gotten the device patented. Westinghouse had their own onsite patent lawyer and development group. They had a policy that if you developed a product and it was licensed you got 25% of the royalties from all non-government sales. That was one draw back to the program. They were real big on pushing the device to all DOE sites nationwide and I even won the National DOE Pollution Prevention award. I was the only individual to win that award. Normally it was won by teams of engineers focusing on some research funded project. So, needless to say I was proud of my accomplishment, but was disappointed that it was not being pushed into the commercial world where I would get royalties on the sales.
The development group was supposed to find companies wanting to license the products they got patented, but wasn’t real decent at it. After 18 months of the development group not finding any interested companies I asked if I could give it a try. They were reluctant to let me since I was not a member of their staff, but after a lot of prodding they decided I could try if I notified them of any interested parties.
Two weeks after I started looking I found an interested company. I went to the development group and told them I had a meeting set up for the next day. They asked me who and where. They were stunned when I told them it was the VP of Product Development at Bartlett Nuclear and he was flying in from Massachusetts just to meet us in Georgia.
The next day I went with a representative of the development group to meet the VP. We met in the lobby of his hotel and he asked where the product was located. I said it was in my car trunk in the parking garage. I told him I would get it and we could go to a meeting room inside the hotel for a demonstration. The VP said we could just do the demo at my car. So, here we are standing in a half lit parking deck as I am giving my pitch and showing how the device worked. I was concerned about doing the demo in the parking garage because the Super Sleever looks like a rocket launcher. All I could think about was some security guard watching us on a video camera thinking we were about to blow up the building. LOL
The demo took about 5 minutes. After the demo I was expecting and prepared for numerous questions. Instead I was pleasantly surprised when he looked at me and said “Can I get an exclusive license on this?”
We went back inside the hotel and dicussed terms on the license. As we were heading out of the parking deck the Development group representative said how he was amazed I could get all this done in two weeks when his department had worked on it for 18 months with no results. I told him it was because I wanted it more than they did and I am persistent.
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: One Simple Idea, by Stephen Key

Postby StephenKey » Fri Mar 04, 2011 3:12 pm

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Roger.....congratulations,nice job!
Award Winning Inventor Stephen Key - http://www.inventright.com
Stephen's new book "One Simple Idea" from McGraw-Hill is available in stores nationwide as well as online.

Re: One Simple Idea, by Stephen Key

Postby Roger Brown » Mon Mar 21, 2011 5:58 am

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Stephen, Congratulations on your book "One Simple Idea" March 18th release!! I know you were shooting for hitting the best sellers list with its release. Where you able to do it?
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: One Simple Idea, by Stephen Key

Postby ATtheLake » Tue Apr 26, 2011 7:52 pm

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Stephen,

I recently found your Youtube channel, which I was unaware of previously. I have watched several of your videos and enjoyed them. I was slightly surprised, your friendly, down to earth and even somewhat brutal; that I really actually like, because that means your just telling it like it is... Please keep up the good work! :)
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