Why are most inventors not making millions?

You know….my mother always said and it still rings true today – you must work hard and be patient if you want to be successful. Vague…I know! However, for most inventors, it seems as if they feel success will just show up at their doorstep simply because they believe their product is the best that has even been created. Having worked with inventors for years, I can safely say that managing these expectations is just part of my job. The reality is that most inventors won’t enjoy success and the reasons vary. One large one though is their inability or lack of desire to stay the course and continue to endure the many “no’s” they will receive from large retailers as well as a lack of overall sales in the early going. Today, more than ever, selling products is difficulty due to the endless amount of people coming up with product ideas and a lack of shelf space to house them all. So, what to do?

– You must expect to spend at least a year and likely a few before you will achieve any meaningful sales – you just have to get used to this fact

– Just developing and making your product ready for retail from day one will almost always take at least 6-9 months and many times a year or more. Lots of moving parts to deal with and the people you hire to help you get things done are likely also busy with other projects meaning that it will take time to accomplish each phase of getting your product completed

– Keep a smile on your face! I know its not easy sometimes but this is essential! Nothing great seems to happen overnight….and successful inventing is no exception.

So, knowing that time is the key and working hard are just a few key thoughts for making money in this business. It can be done and is done everyday so think of it that way. Just stay with it….and like a new plant seed eventually it will grow and bear fruit!

Jim
Don’t forget to pick up a copy of my new book The Business of Inventing at http://www.jimdebetta.com

About JimDeBetta