Setbacks: Stepping Stones to Inventing Success


As I have frequently stated in prior posts, inventing is a tough business and few inventors achieve success. Many novice inventors perceive that all they have to do is obtain a patent for their invention, then to “sell their idea” to an enthusiastic company anxious to commercialize the product.

A more accurate view is that  a patent is merely the opening stake that gets you into game. Then, the real challenge begins – to fully develop the concept and market it effectively whether as your own business or by licensing your IP. The latter is where 95% of all patent holders fail.

Setbacks: Stepping Stones to Inventing Success

Any successful salesperson knows that you get far more “no’s” than you do “yes’s”. A .300 batting average is considered outstanding in baseball, but it means the batter strikes out 70% of the time.

Inventors, however, always love their products (as they should) and assume…

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