The Value of ‘No’, in Invention Success
We have the pleasure of working with inventions on all edges of the spectrum, from clever household products to innovative fitness equipment, to fashionable jewelry, useful pet accessories, outdoor equipment, toys, and much more. Thousands of ideas have passed through our meetings, some of which are brilliant and currently enjoy licensing deals or massive retail success, and others that are simply not market-ready. (And remembering some of the bizarre ideas we’ve reviewed, perhaps ‘not market-ready’ is putting it lightly). We believe that saying ‘No’ to the latter category is as important as saying ‘Yes’ to the former. Since our industry experience is so vast, we understand what works and what doesn’t work, and pride ourselves on separating the two and communicating our thoughts to inventors. A ‘No’ can help the inventor realize that their time and finances are better invested in other ideas. Our business is not only that of brand building, marketing, business development, and securing licensing/sales contracts, but also fostering an inventor community that understands what it takes to create a successful product. Like any form of education, it requires some trial-and-error on the part of the inventor. A first attempt might not be successful; often it takes two or three submissions before we move forward with an idea. By maintaining an honest relationship with our inventors, we hope not to discourage them, but to create a sense of trust that will become the foundation for a long-lasting relationship.
So if you have an idea you’re proud of—submit today! We won’t find the next great success story without a few ‘No’s’ along the way, but all it takes is one ‘Yes’.