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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
# 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
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.
#
# #
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
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Until next month, Successful Inventing To You!
Thanks
& Best Regards,
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