This is an exciting topic, and I always asked super successful entrepreneurs, either in business, in licensing, in toys games. Like I've asked tons of entrepreneurs across the board over the last 15 years, this very question -- what is the 1 thing you wish you knew when you started.
I am inviting you to signup to my mini-training course that breaks down the 5 simple steps on how to license your own products and shows you what you need to do to make it happen.
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In invention licensing world, when we hear the word "Royalty," the whole idea of it instantly fascinates us. Who does not, right? Talking about getting your inventions licensed, passive income and other cool stuff.
However, it's not as simple as having an idea, putting it to the market and having a royalty tag. If we are to break it down, there are certain skills that are needed to develop a "Royalty Machine." And not just that, I'm also talking about creating multiple sources, not just one invention licensed.
If you wanna know how I did it, watch this video now!
P.S. Are you ready to get your invention licensed in just 60 days? Register now for my "60-days To A Deal" Challenge starting on February 1st, 2021 at 8PM Eastern time. Save your spot at https://www.inventtribe.com/inventors-challenge
Invention licensing world has evolved drastically and so is companies’ communication with us.
As inventors, we need to learn how to cope up with these changes by knowing individual communication style so you can be on the same wavelength with your potential licensees.
There are ways to do that and that’s what I want to teach you in this video!
P.S. Check out Royalty Machine! This is a mini-training course to get you started on your journey to getting your product licensed and on the market. My objective with this course is to show you the steps to get your product licensed.
There's an exponential factor in this business that occurs when you license your first product, because then you have a little bit more financial resources, a little more confidence, and sometimes a little bit more connection within industries, to leap from there and then license a second product or third product. And so knowing how to get through that first deal is so very important.
I am inviting you to signup to my mini-training course that breaks down the 5 simple steps on how to license your own products and shows you what you need to do to make it happen. Signup Today To Get Your Product Licensed — https://www.inventtribe.com/royalty-machine
Today, we're going to talk about how to license your product without a granted patent. My strategy of how I get my product license is I start out, I develop the idea, I do my research, I put together marketing material, and then I go out and I write a provisional patent application (PPA) to get that filed with the USPTO for $70. And when I get the documents back, I'm patent pending, right? So when I go pitch to companies, they asked me, where's your patent status I say, patent-pending.
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This is an exciting topic because it is the rules of the game! This game is all about licensing, getting your product in, but patents are also important. They play a big role in getting your product license. So today, I want to talk a lot about the business reasons why we're getting into and why we're filing patents. And a lot of times when I'm working with inventors, it's all about filing a provisional pan application. It's commonly called PPA or provisional patent application, and it gives you 12 months of the option to protect your product.
P.S. Want to get notified once we launched our Inventor Toolbox? Checkout here — https://www.inventtribe.com/inventortoolbox
In this episode, let me tell you that licensing is a lot like a magic trick! Check out more of the inventor roadmap on how to get your product license. We're here, we coach, we teach people how to get their stuff on the market.
Download your copy today - https://www.inventtribe.com/inventor-roadmap
Listen to this episode where I walk you through my thought process of how to invent a product.
I use a bunch of different techniques to get my brain focused in the right direction to invent things that are licensable.
But if you put the parameters up and you think of the solution first, you know, I want this end goal, then you let your brain and your subconscious create within that. Then you come up with great licensable products.
All the tools, hacks, and so much more to aid you in your Inventing journey. Delivered straight to your inbox.
Signup here — https://www.inventtribe.com/inventortoolbox
If you'd like to become part of the tribe, I teach and coach like licensing and how to get your product to market and how to monetize. Learn more at www.inventtribe.com/packages