The Licensing Jungle Explores with Kentucky’s Inventors Council President.

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The Inventors Launchpad Network – Is proud to present The Licensing Jungle, Co-Hosted by licensing expert Mr. Jeffrey Mangus of Product Coach USA and Carmine Denisco, Managing Partner with Inventors Launchpad. As a Product Licensing Coach Jeffrey’s greatest strength is that he can simplify what you would like to accomplish into an easily implementable step-by-step plan. Helping you without the need to for him to have extensive knowledge in your product or area of expertise because you are the inventor, the expert. Jeffrey’s expertise is in knowing the product licensing process, the inventing sequence and how to move people forward, which usually involves overcoming many common obstacles. Let this Podcast help you get over the bumps, steer clear of the sharks and get you where you and your product deserve to be.

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The Licensing Jungle Podcast is presented by The Inventors Launchpad Network.

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Podcast Notes

1You Tube Transcription
hi everyone and welcome to another
0:04
episode of the licensing jungle I am
0:07
carmine the disco your host and I will
0:10
take you down the road today until we
0:12
get off the road into the actual jungle
0:14
and I'll hand things over to my expert
0:18
co-host Jeffery mangas today we have Don
0:22
Skaggs who is an entrepreneur he's an
0:25
inventor he has started companies from
0:27
the ground up and he is actually the
0:30
president at the inventors Network out
0:33
in Kentucky and we're gonna talk to him
0:35
in a few minutes and bring him on and
0:37
just see we've got going out there I'm
0:39
sure that anytime someone is involved
0:42
with an inventor Network or Club there's
0:46
some great stories behind that but let
0:48
me bring my co-host on hey Geoffrey over
0:50
there I'm over here hey carmine how are
0:52
you doing I'm doing good man like I said
0:56
just running around trying to get some
0:58
stuff done I know that you've been busy
1:00
out there I know you did some traveling
1:01
how's how's it going you back settled in
1:04
I am yeah back from New York I'm settled
1:06
in back in the saddle and yeah it's it
1:09
I'll be also the I need a vacation from
1:11
taking a vacation because I'm trying to
1:16
you know with technology though you know
1:19
I used to travel for some of my other
1:21
companies and you know we didn't have
1:23
the ability to reach out and answer
1:27
people quickly you know go through
1:29
emails go through notes and you come
1:30
back after vacation it was really crazy
1:32
I mean we're really behind now you're
1:35
behind but at least you know that
1:37
nothing is on fire or there was no
1:39
problems and I think it makes it you
1:41
know a lot of people complain about
1:42
people checking their phones and do an
1:44
email and it's one of those 50/50 shots
1:46
because I I can relax a little bit more
1:48
when I go away that's exactly right you
1:51
know I mean what I love about my
1:53
coaching job and my company is and and
1:57
the licensing job a week we can do this
1:59
from anywhere and you know it's like you
2:01
say you can we can put out fires if
2:03
those fires need to be put out from
2:05
anywhere we are and it does make it a
2:07
lot easier though so it's it's funny you
2:12
mentioned the licensing jungle
2:14
whew you're busy man I mean everywhere I
2:16
talk to everybody where I go you know
2:19
people are talking about your coaches
2:20
coaching it I mean you you're really
2:23
building up over there I mean you have
2:24
any openings for anybody I'll be honest
2:27
with you I do have openings but I tell
2:28
you what it's getting tighter on me
2:30
honestly I'll say then the braggy way it
2:32
really is getting tighter we have a life
2:34
got a lot of students a lot of great
2:36
students got a lot of things happening
2:38
it is exciting you know I do I love
2:40
helping inventors I truly love seeing
2:42
them be successful and I've got someone
2:44
some of the great they're on a great
2:46
path towards success that means a lot
2:49
well that's what everybody's saying
2:51
everybody everybody's talking about your
2:53
method of bringing people through that
2:56
licensing funnel or functions or
2:59
whatever any fall and I'm not sure
3:01
exactly everyone has a different name
3:03
for it but those processes that you take
3:05
people through it seems like they're
3:06
really connecting with it and I think
3:09
you're doing a great job out there men
3:10
man thank you very much yeah it's a
3:12
process and you know my coaching is
3:15
truly in-depth and it does go down the
3:17
line and teach someone out to license or
3:19
products from A to Z and they get some
3:21
more I'm really excited about the show
3:24
today thank you for you know again
3:26
another episode I sing jungle today we
3:28
have Don Skaggs just like you said Don's
3:30
on and you know Don it's prolific in the
3:34
business and I really wanted to have him
3:36
on to to talk about his group and Don
3:40
are you over there this morning I'm
3:42
right here hey Thank You Jon you're very
3:46
welcome
3:46
so we'll just get jump in if you don't
3:48
mind tell us a little bit about you and
3:50
your and what you do for your for your
3:52
your organization there sure sure little
3:55
backstory about me
3:57
serial inventor serial entrepreneur
3:59
about 20-some years ago I bootstrapped a
4:04
company out of a farmhouse and of all
4:05
places Eastern Kentucky and we didn't
4:09
stay in the farmhouse forever though we
4:10
it became a factory we had employees we
4:14
made specialty products for the
4:15
pathology laboratory industry sold off
4:17
hospitals and labs all over the country
4:19
grew at about 23 years and had a nice
4:22
exit company in Texas acquired us bought
4:25
us out and I
4:27
been working about 10-15 years with a
4:31
nonprofit organization called the
4:33
inventors Council in central Kentucky
4:35
and I was sort of at a crossroads at
4:38
that point and I said well okay what's
4:40
next for me what's career part-2 for Don
4:42
Skaggs and I really came back to this
4:46
and so we we took this we turned into
4:49
the inventors Network Kentucky we have
4:51
an inventors council now in Lexington
4:53
Kentucky we have another one in
4:54
Louisville we do the meetings open
4:57
meetings we do workshops we do classes
5:00
we're doing a lot of a lot of support
5:03
things we try to help inventors through
5:05
education engagement and empowerment
5:08
that's our that's our tagline and in
5:10
addition to that we launched a series of
5:13
educational classes we call them powered
5:15
inventing and services through that and
5:17
so I would also have a the new launch
5:20
over my right hand shoulder here is
5:22
empowered inventing calm so we we help
5:25
inventors and entrepreneurs outside of
5:26
the state of Kentucky through that site
5:28
as well that is excellent that's yeah
5:32
that was one of my questions I wanted to
5:34
ask if you I know you're in the Kentucky
5:36
in the tri-state area where we are where
5:39
I'm located as well in West Virginia
5:40
Ohio Pennsylvania but now you've opened
5:43
up a site that's going to help inventors
5:45
across the country that's that's great
5:46
now it with empowered inventing is this
5:49
going to include classes and and
5:51
different things like that right we we
5:53
have an educational component that we do
5:55
because we really think education is is
5:58
is key you put three things in
6:00
intervention as well one of the things
6:01
we teach you put you put time you put
6:04
money but you put this third thing this
6:05
antiquated term that I really shouldn't
6:08
be antiquated anymore I think it is that
6:10
word is called wisdom and wisdom is
6:13
vitally important for inventors and
6:15
entrepreneurs and if you don't have the
6:18
wisdom first I don't care if you're a
6:19
one-person micro business working out of
6:22
your garage or a nine billion dollar
6:25
multinational corporation I've seen both
6:28
personally simple make the same
6:30
boneheaded mistake where they did not
6:32
get the acquire the wisdom first and I
6:35
took the time in the money and they
6:37
basically poured it down a drain because
6:38
why because if they don't have the
6:40
wisdom first they
6:41
nowhere to spend the time of money so
6:43
education is a is a huge component in
6:46
addition to that what we're going to be
6:48
adding on and and and this is this is
6:51
rather new for us but we're gonna be
6:52
over the next few weeks we're gonna be
6:53
adding on a lot of vetted services so
6:55
not only will you be able to learn how
6:57
to do things but you'll have to you'll
6:59
have trusted resources of okay I can I
7:02
can get a prototype built here and and I
7:05
know this because other inventors have
7:06
used it they they've known it it works
7:08
if I need marketing services I I know I
7:11
know I can get it vetted and and plus
7:14
another thing that we teach is never
7:16
purchase a service that you don't
7:17
completely understand you know some
7:20
people will take more time researching a
7:23
restaurant than they will the right
7:26
inventor service that is you know you're
7:29
so right and I love what you're saying
7:31
and carmine and I both are in total
7:34
agreeance on the in this industry in
7:36
this business wisdom comes from
7:39
education education knowledge and
7:42
learning what you're doing at first is
7:45
better than going out spend thousands of
7:47
dollars and then not and not having
7:50
anything to show for other than
7:52
something sitting in your garage you
7:54
know it's really important and that's
7:56
that's the big that's my biggest thing
7:58
that I do with my coaching program that
8:00
I want to stress to our listeners and
8:04
that's I'm not selling my product here
8:05
excuse me is that I want people to be
8:11
knowledgeable I want them to have the
8:13
the education that it's going to help
8:15
them in the process and that's really
8:18
great that you guys are doing it that
8:19
way that that's really awesome for you
8:21
you know so thank you I want to ask a
8:24
question you I'm sure you come across a
8:28
lot of inventors you talk to a lot of
8:29
inventors what do you see is the biggest
8:32
challenge that inventors that you have
8:35
that you come in contact with what is
8:36
the biggest challenge that you think
8:38
they face what do you what is the thing
8:40
that you see a common problem one well a
8:46
couple things and you sort of touched
8:48
from one of them one is I'll I asked 11
8:51
a lot of talks that I'll give I'll
8:53
ask what kind of inventor are you and
8:56
I'll see you one of two different
8:59
extremes with this and one is what I
9:01
call the inventors that have what I call
9:03
the toss the keys mentality where let me
9:07
just toss the keys and my wallet and all
9:10
my money and everything else and you
9:11
just make me rich I've got this nice
9:13
napkin sketch here and let me just throw
9:15
this to you and and these are the ones
9:17
that you usually end up getting falling
9:20
for the inventor scam companies the
9:22
industry statistics tell us that the
9:24
average novice and better will spend
9:27
between ten and fifteen thousand dollars
9:29
with for services that are practically
9:32
worthless and you know it's one thing to
9:34
see those statistics in black and white
9:36
there's another thing to see the faces
9:37
of the people coming through my door
9:39
where they where they've got these
9:40
services and they're saying well this is
9:42
worth something isn't it and really it's
9:44
it's it's not they've not they've not
9:46
validated their market they've not you
9:49
know they've gotten patents and you know
9:51
they've spent all this money but they
9:53
they don't know you know they've sold
9:55
the first item the other extreme that I
9:58
see is what I call the DIY inventors and
10:01
those are the ones that want to do it
10:02
all themselves and they want to keep
10:03
everything just closed it in themselves
10:06
these are the guys and I know one sad
10:07
story of an inventor was was working on
10:10
his prototype for 10 solid years kept it
10:13
hidden in his garage technology the
10:15
world passed him by
10:16
it was never able to commercialize it
10:18
but he was always just working he was in
10:20
that comfort zone his comfort zone was
10:22
working on his prototype and trying to
10:24
get it all all just kind of you know
10:27
perfected and you you can't do that you
10:30
know you can't work in a bubble no
10:31
successful inventor truly works in
10:33
isolation people are another very very
10:35
important component that's one of the
10:38
reasons we have the inventors councils
10:39
and Lexton Louisville is is we is the
10:42
people factor is so important well I you
10:45
know I totally am in complete agreement
10:49
I'm we hear you say a statement but it's
10:53
the truth
10:53
I'm a big African anyone's listened to
10:56
any of my videos and and what I talk
10:59
about I'm a big big advocate on on note
11:03
my rule of thumb is no one is going to
11:05
work as hard for you then
11:07
you exactly and and that's what that's
11:11
what set me in motion is I want to tell
11:13
him myself a little bit here a few years
11:15
back I was a victim of an invention
11:18
submission company and I lost I lost a
11:22
lot of money to them and that's when I
11:24
realized that hey wait a minute I can do
11:26
this on my own
11:27
and also I told my wife I said there has
11:30
to be a company because that's me
11:32
something that's going to let this go
11:34
truly help inventors and and get past
11:37
the scams get past these these people
11:39
who offer no value other than to take
11:42
into your wallet so and with that said
11:46
I'm off my soapbox now and what I want
11:49
to say is inventors can do this on their
11:52
own but they eventually yes you're going
11:55
to need a team you're going to need a
11:57
team of people now you will acquire that
12:00
team of people people will come into
12:01
your invention life an invention career
12:04
that's going to help you and you'll be
12:06
able to discern that and how you're
12:08
gonna do that and that's through
12:09
knowledge through wisdom so exactly yeah
12:14
yeah I would say that good inventing is
12:16
like a like a well-prepared meal you've
12:19
you've learned some good recipes you've
12:21
tried to cook some things maybe you've
12:23
burnt a few things and that's okay and
12:25
you had to throw them out and but you've
12:28
learned and you've practiced and you've
12:30
you've you've talked to other cooks that
12:34
are that are better than you are that
12:36
they're a little better cooking than you
12:38
are and you've learned from them and so
12:40
you acquired this wisdom so you've
12:42
prepared this just wonderful meal that
12:44
you can share with a lot of people bad
12:46
inventing is a microwave burrito it's
12:48
the bad kind that you get in a
12:50
convenient store it looks bad when
12:52
you're buying it in a nasty freezer
12:54
section of the the convenience store it
12:58
smells bad when it's cooking in that
12:59
nasty microwave in the back of the
13:01
convenience store and it tastes bad when
13:03
you eat it but you eat it anyway why
13:05
because you're in a hurry you're not
13:07
paying attention and just like with bad
13:09
inventing at the end your signature
13:12
stomach and you're full of remorse
13:13
that's right and you know that's your
13:16
full remorse you know that's what I want
13:18
to actually try to help inventors evil
13:21
and vinners cannon can't avoid you know
13:24
and and it boils down to you know
13:27
learning the process is learning how to
13:30
take your product and and move out into
13:33
the world with it you know but doing it
13:35
the right way you know I just I call it
13:37
spray-and-pray you know some people
13:39
shotgun it and just out there to
13:42
everyone across the world then they
13:43
wonder why their ideas are taken or
13:44
stolen that's where you know put
13:46
themselves vulnerable so I know earlier
13:49
before we for the show we were talking
13:51
about patents and we were talking about
13:53
those things now do you guys educate
13:55
your inventors on patents and the
13:58
processes between a utility patent and
14:01
provisional patent applications yes yes
14:03
we do and you know a lot of inventors
14:07
will come in and the first thing they
14:09
want to do is rush out and get a patent
14:10
I've got to get a patent got to get or
14:12
multiple patents for this and the one of
14:16
they'll want to spend a lot of money up
14:18
front and I always tell them there are
14:20
strategic ways to do this with
14:22
provisional patents with with learning
14:25
how to do it what one strategy that we
14:28
teaches is I as I tell them pretend the
14:31
William Shakespeare got his way and all
14:32
the all the attorneys have died and you
14:35
have to you know there aren't any
14:37
attorneys left anymore so you have to
14:39
prepare this so you pretend just like
14:41
you have to prepare this and write this
14:44
yourself you learn you educate yourself
14:46
and then once you get it all written
14:49
then you take another three different
14:51
attorneys and you say okay I've got all
14:53
this written I've got all this prepared
14:55
I've got all this put together what
14:57
would it cost for you to go through and
14:59
clean this up and fix it so I give me
15:02
the best chance of a of a notice of
15:06
allowance of approving a patent and and
15:09
and really you know a lot of people they
15:11
don't they treat the attorneys like
15:14
they're you know there's the sacred cow
15:16
mentality I think with a lot of
15:18
attorneys
15:19
it's where oh no we can't question
15:21
anything that they say or do no you
15:23
treat them just like you're getting
15:24
quotes for for our plumber or for
15:28
anything else you are you know you're
15:31
learning from them and when you do a lot
15:33
of the work yourself before
15:35
you take it to an attorney you are your
15:37
doing two things number one you're
15:38
educating the attorney on this is what I
15:41
have
15:41
number two you should be saving yourself
15:43
a lot of money and if you're not that's
15:46
why you go to three different ones
15:47
that's really good that's a great
15:50
approach and I I'm I totally am with
15:52
that as well I teach inventors to do
15:55
right provisional patent application
15:57
themselves and there is a formal way to
15:58
do it I believe I mean I've heard some
16:00
say there's not but I believe there is
16:02
set yourself up there are great books by
16:04
David Pressman you know patent yourself
16:08
inventors don't know about that book I
16:10
would encourage you to get it because it
16:12
does you can do these things and you're
16:15
right
16:15
at the end of the day you're gonna need
16:16
an attorney but you can save a whole lot
16:19
of money but but let's go back to the
16:21
broad spectrum you're gone mm-hmm and
16:23
I'm sure carmine will agree with me that
16:26
you know patent attorneys nothing
16:28
against patent attorneys and please I
16:30
want to say that up front because they
16:32
definitely have their place in our
16:33
business I mean they're crucial to our
16:35
business but a patent attorney does not
16:37
determine marketability
16:39
of a product exactly a lot of inventors
16:43
you're right they will what a patent
16:45
attorney says you know like like it's
16:47
just gold and but at the end of the day
16:50
I've had an attorney wants to sell a
16:51
patent write a patent and that's that's
16:54
their business you know again not
16:55
talking negative but you know inventors
16:58
again when it comes down to education
17:00
education and learning that hey I'm you
17:04
by time you step into the patent
17:06
attorneys office you should already
17:07
hopefully know your market you know or
17:09
lisa has studied it yes and and there's
17:13
I mean there's there's good bad patent
17:14
attorneys just like there's there's
17:16
there's good and bad grocery stores and
17:18
restaurants out and and you know I
17:21
always think of it as is okay if you go
17:23
in and even with the good attorneys you
17:26
can go in you can walk into a grocery
17:29
store so you walk into a Kroger or a
17:31
Meijer or whatever grocery store chains
17:33
near you and and you know they will they
17:36
will let you you use one of their
17:37
shopping carts and you can fill that
17:39
shopping cart full and if you take it to
17:41
the checkout counter guess what and you
17:43
give them money that you can buy all
17:45
those groceries you may not need all
17:48
those
17:49
groceries but you can build sell them to
17:52
you and there's nothing wrong with that
17:54
that's why they're in business they do
17:55
that and you've got to look at attorneys
17:58
is the same way as is okay do I need all
18:01
this and do I need all this at this time
18:03
and in and that's what you really how
18:06
you really have to work from the
18:08
straddle is one of the things that I
18:09
think both you and I kind of you're
18:11
again we're in line with and we teach is
18:13
is that the strategy and the timing on a
18:17
lot of this is very very crucial and you
18:20
can I've seen a lot of people very smart
18:23
people people the letters of alphabet
18:24
letters after their name and they've got
18:27
that nice shiny plaque on the wall with
18:30
saying who I have a patent never sold
18:32
the first item ever and they've got this
18:36
nice plaque on the wall but that's all
18:38
they've got to show for it yeah you know
18:40
you're right I personally would not want
18:43
to be that person who has a nice shiny
18:45
plaque on my wall in heaven and then
18:47
looked at looking at my spouse and going
18:49
you know I'm sorry I spent $15,000 of
18:52
our savings for has to have that you
18:54
know we could yeah
18:56
Home Depot or somewhere I guess I've got
18:57
a nice something else but but yeah you
18:59
know you're right these are this is
19:01
important stuff to eat for embitters to
19:02
here you know is we're not being
19:04
negative we're just I love that's what I
19:06
love about this show I love being here
19:08
with carmine because it's true and it's
19:10
real and it shoots straight from the hip
19:13
you know let me just jump in real quick
19:16
our first off Don it's awesome what you
19:18
guys are doing I'm sitting back listen
19:20
and I mean you guys are covering the
19:21
full spectrum when it went for inventors
19:24
I think it's awesome what you're doing
19:25
over there and it's really needed
19:27
everywhere but what we talk about when
19:31
we talk about even invention scams and
19:33
and people utilizing money at the wrong
19:35
time or in the wrong process in the
19:37
wrong step even the patent process is
19:40
one of the most costly steps and you
19:43
know we talk about invention scams all
19:44
the time now and I'm I'm 100% with both
19:47
you guys we need patent attorneys we
19:48
need them they're crucial but you know
19:51
we want inventors to know it's not just
19:53
the invention scams you need to get a
19:55
patent at the correct time at the
19:58
correct place that's a big expense to
20:00
put out
20:02
it's a huge expense and you know with my
20:05
coaching program I mean that's one of
20:07
the biggest things that I teach is is
20:08
again doing it on your own and not
20:11
spending money upfront doing all the
20:14
things you need to do up front including
20:15
the first thing studying the marketplace
20:17
finding where your product fits find out
20:20
where it's where it's defining it down
20:22
where does it you know where's it
20:24
what big how big is the market you know
20:26
what kind of flow is it gonna be it's
20:27
gonna solve a huge problem or a small
20:29
problem you need to know all these
20:31
things before you even step into a
20:32
patent attorneys office and usually you
20:35
know even if you did step into a patent
20:37
attorneys office it still won't take two
20:39
or three years for that for that patent
20:41
to issue by that time the market could
20:43
have passed you by you know so you need
20:45
to really just go go do it yourself and
20:48
do it as quick as possible but the right
20:49
way you know yeah and and you know this
20:52
this covers so many parts I I think of
20:56
the whole inventing process it's and I
20:59
think what it boils down to you know
21:01
what we're saying here is is you're not
21:03
to spend a lot of money upfront before
21:08
you learn again it comes back to that
21:10
wisdom thing you have to have the wisdom
21:11
first before you start spending a lot of
21:13
the time and the money you know it's a
21:15
it's the same way with protecting with
21:17
patent I think it's the same with
21:18
prototyping I had a guy come to one of
21:20
our workshops one time and he said I've
21:22
got a guy that's going to build me my
21:25
very first prototype and they're only
21:26
going to charge me $5,000 and daddy man
21:30
I said I am begging you do not spend
21:33
$5,000 on your first prototype because
21:36
the first thing it's going to do is fail
21:37
and then you're gonna it's gonna teach
21:40
you all these things that's gonna that's
21:42
growing wrong that you would have never
21:43
known unless you build it yourself and
21:44
you're going to build that you're gonna
21:46
find things that's wrong you're gonna
21:47
have to scrap all that start over again
21:49
then you're gonna find something else
21:51
that's wrong you're gonna have all these
21:52
iterations in this first functionality
21:55
part of the prototype process I call it
21:57
building the franken type you've gone
21:59
out of the graveyard of open products
22:01
and spare parts you've used glue sticks
22:04
and duct tape the result is a prototype
22:06
that only an inventor could love but
22:08
you've taken that first important step
22:10
of prototyping the right way you've
22:12
built it you proved that it works
22:14
you haven't spent a lot of money now
22:17
there's a whole nother stage after that
22:19
where you're building one that's
22:20
demonstrable it's it's where it's pretty
22:22
DUP and you might be spending more a
22:24
little more money on that but first off
22:26
you need to fail fast and fail cheap it
22:29
doesn't matter if it's the customer
22:31
discovery process if it's the the
22:34
prototyping process you're going to have
22:36
your biggest fails early you want them
22:38
to be very very cheap very very
22:39
survivable yeah yeah that's right you
22:42
know because I talked to quite a few
22:44
inventors and there's the same
22:46
underlying story as they have gone out
22:48
and spend spent a lot of money on
22:50
prototypes and spent a lot of time on
22:52
prototypes and then also patents and
22:55
usually they're you know they're 15
22:57
$20,000 deep into these things and they
23:00
still haven't sold the first thing or
23:02
even have any idea rection so that's
23:04
that's right you know fail cheaply and
23:07
it's easier to do that you know I mean
23:09
I'm gonna tell myself here my wife and I
23:11
we have we have actually prototype
23:13
making nights and we Frankenstein stuff
23:16
and dead its butt and we shut the drapes
23:19
drink a little wine and have a prototype
23:20
night you know so it's pretty cool but
23:26
let me ask you the inventors that you
23:28
come in contact with and now you're
23:30
reaching out and you're reaching out
23:31
across the country to do you find on
23:34
that a lot of inventors are trying to
23:36
make the products themselves to go on
23:39
the market themselves or do you find
23:41
some that really want to go after the
23:42
licensing situation what what's what's
23:45
the mixture there I'll see both kinds
23:47
and usually it's it's more the ones that
23:51
sort of lean towards they toss the keys
23:53
and in again there's there's nothing
23:56
wrong with it until you get into the
23:57
extremes so there's a lot of them that
24:00:00
yeah you know I don't want to do the
24:01:00
business part of it and actually had a
24:04:00
guy one time in a meeting he got up it
24:06:00
was all flustered he said he said Don
24:08:00
you don't understand I just want to I
24:09:00
just want to make stuff I'm just
24:11:00
you always says I'm an idea person and I
24:15:00
just want to come up with an idea and I
24:16:00
just want to do this and and I don't
24:20:00
want to do any of this business stuff
24:22:00
and I always tell them the same thing
24:25:00
and I always think of this
24:27:00
the gentleman is run one of our oldest
24:29:00
members that we had as the name was
24:32:00
George George passed away last year ripe
24:34:00
old age of 89 George was a retired
24:37:00
aerospace mechanic mom now our workshops
24:41:00
we have kind of a new unique way we do
24:44:00
our workshop settings is where you all
24:47:00
come in we're working on their clothes
24:49:00
non-disclosure agreement it's members
24:51:00
only we get the sort of brainstorm
24:53:00
everybody gets a chance to talk about
24:54:00
this is where I'm at this is what I had
24:56:00
this worm stuck
24:57:00
George would come in to each one of
24:59:00
these workshops with a brand new
25:02:00
invention every single month something
25:04:00
brand new at the Olin he's got a brand
25:07:00
new one this month so oh you know it was
25:09:00
almost a joke we'd say okay George
25:10:00
what's the invention the month this time
25:12:00
and you know it's funny you know it was
25:14:00
it was spare parts and rubber bands
25:16:00
sometimes but it was functional it
25:19:00
worked and it was usually pretty cool
25:21:00
now was George ever going to
25:24:00
commercialize anything no not George was
25:26:00
having a ball George was the
25:28:00
quintessential tinkerer and I always
25:31:00
tell people that say well I don't want
25:33:00
to do any of this business part I just
25:35:00
say if you want to be like George
25:37:00
there's absolutely nothing wrong with
25:38:00
that however if anywhere along the
25:42:00
timeline of your idea you have even the
25:45:00
slightest expectation in that your
25:47:00
deepest part of Arts of money changing
25:50:00
hands that's called doing business and
25:53:00
you have to learn the business part it
25:55:00
doesn't matter if you're going into
25:57:00
business you don't have to necessarily
25:58:00
go into business you can you can get the
26:01:00
licensing thing going and and that's
26:03:00
great you know I know a lot of people
26:05:00
that have done really really well
26:06:00
licensing they say it's wonderful you
26:09:00
get it it's a once you're successful
26:10:00
licensing you just go collect that check
26:12:00
once up once a quarter and you're not
26:14:00
having to worry about anything so that's
26:16:00
great when you can we can do it but you
26:18:00
have to do it the right way and you have
26:19:00
to learn the right ways to do it they
26:21:00
things like what you teach I appreciate
26:24:00
that you know yeah exactly it's like we
26:26:00
scripted today honestly you know the my
26:29:00
I mean the program that I the thing that
26:33:00
I truly totally teach is exactly that
26:36:00
treat yourself as a business treat
26:39:00
yourself and and
26:41:00
yeah there's some people that hey
26:42:00
they're great idea people and that's all
26:45:00
they want to do but at the end of the
26:47:00
day you know I I'm a big advocate on you
26:51:00
you have to learn you have to learn to
26:52:00
wear many hats you have to learn how to
26:54:00
designer it be a cell marketer but you
26:57:00
don't have to be an expert at everything
26:58:00
right right whatever you don't know yes
27:03:00
you can kick it to someone who does know
27:05:00
and that's but again with that knowledge
27:07:00
that you know the process you're gonna
27:09:00
be able to direct your show be the
27:11:00
project manager of your own show what
27:13:00
once you have once you've mastered the
27:16:00
the wisdom part of it then you can
27:20:00
manage these things and you don't have
27:21:00
to do it all yourself in that again
27:23:00
that's the other extreme I'm gonna do it
27:24:00
all myself I'm gonna hide it all away I
27:27:00
always see all a lot of these inventors
27:29:00
and they want to they want to hide away
27:30:00
their invention they want to just kind
27:32:00
of hold it close to them and they're
27:33:00
always saying oh I'm afraid somebody's
27:35:00
gonna steal my idea and truly if they
27:38:00
were honest with themselves a lot of
27:39:00
times what they're really saying is I
27:41:00
don't want anybody to say anything bad
27:43:00
about my idea right and and they kind of
27:46:00
hold it close to them they they kind of
27:47:00
cradle it like it's a baby and they
27:50:00
treat it like a baby and and if you
27:53:00
think about it we gave birth to the idea
27:55:00
so it's sort of you know there's sort of
27:56:00
this natural maternal instinct we have
28:00:00
with the idea sure and we all I have
28:01:00
that a little bit but inventors tend to
28:04:00
want to they want to cradle it and hold
28:06:00
it close to them so if somebody says
28:07:00
well now what if you change this or what
28:09:00
if you did this or maybe if you think
28:11:00
this over here you broaden your audience
28:12:00
or how about if you did this and they
28:16:00
kind of want to shy away and they said
28:17:00
don't don't say anything bad about my
28:19:00
baby my baby is not ugly my face perfect
28:21:00
and the problem with that is that if you
28:24:00
treat your invention like it's a baby
28:27:00
it's going to behave like a baby and it
28:30:00
doesn't matter whether it's diapers or
28:32:00
college tuition babies cost money but
28:34:00
the day that you decide that you're
28:37:00
going to stop treating your invention
28:38:00
like it's the baby and start treating it
28:40:00
like it's a product that's the day it's
28:43:00
going to begin to behave like a product
28:44:00
products have the potential of making
28:47:00
money rather than costing you money
28:48:00
that's excellent advice
28:52:00
yeah yeah totally agree real quick
28:55:00
Gaya Danar you're you're right on the
28:57:00
money I mean uh you know as Jeffrey said
28:59:00
we it's obvious you've been doing this a
29:00:00
long time you know what you're talking
29:01:00
about
29:02:00
and you know we hear over at the launch
29:05:00
pad we run into people that that always
29:07:00
wary someone's gonna steal her idea or
29:09:00
copy it and I tell them whatever send I
29:11:00
said if your product is successful
29:13:00
someone's gonna copy it I mean it's
29:15:00
right it is happy so stop worrying about
29:20:00
it and just get and then the second is
29:22:00
they always want to be first to market
29:24:00
now I don't know if it's because just
29:26:00
for ego but me I don't want to be first
29:28:00
to market I come in learn from all those
29:31:00
mistakes and spend less money absolutely
29:36:00
pioneers are the ones with the arrows in
29:38:00
their back right you know that's why I
29:41:00
could tell you know you're you're really
29:42:00
giving some good advice out there I mean
29:44:00
it sounds like you got a great club
29:46:00
going on well thank you thank you we've
29:48:00
we've we've got a lot of just really
29:50:00
passionate people and people were trying
29:53:00
to have you know we're trying to point
29:54:00
in the right directions and help and
29:56:00
it's just it's been it's been great yeah
29:59:00
you know real quick I'm gonna go back to
30:02:00
something which you said Don that I want
30:04:00
to reiterate you know you're right
30:07:00
inventors love their ideas that's their
30:09:00
babies and I totally get it I've been
30:11:00
there I mean I've had ideas that I've
30:13:00
truly loved and didn't want anyone to
30:15:00
mess with but then you know there comes
30:17:00
a time and it comes a day and you
30:20:00
correct me if I'm wrong that when just
30:22:00
to separate you from you know from me
30:25:00
from the amateur status to the
30:27:00
professional status you have to learn
30:29:00
how to discern that and and be able to
30:33:00
say okay I love the idea but now I'm
30:35:00
gonna take it to the next level and I
30:37:00
need to evaluate it you know from a
30:40:00
outsider standpoint look at it from the
30:43:00
outside and say okay it's a great idea
30:44:00
but is it doesn't solve a big enough
30:46:00
problem is it going to make it I call it
30:49:00
sleeper or keeper you know that's when
30:51:00
you really need to decide where and
30:53:00
that's what separates a professional
30:54:00
from from a rookie and nothing that a
30:57:00
bad way guys Rivini men are out there
30:59:00
I'm not trying to cut down any event are
31:00:00
out there not at all I'm just saying
31:02:00
that when you read you're at a certain
31:04:00
level when you want to reach the next
31:06:00
level and go and move your product
31:08:00
forward you
31:09:00
have to be able to discern that and yeah
31:11:00
right you do it's just it's gonna happen
31:14:00
you have to let it go you have to let it
31:16:00
fly and and if you don't if you just
31:18:00
hold it in there it's just it's gonna
31:20:00
it's just gonna stay there we've got a
31:22:00
saying nobody wants to dance with The
31:24:00
Wallflowers
31:25:00
a lot of inventors of the hell you know
31:27:00
they'll they'll rent the tux they'll get
31:29:00
the limo they'll go to the dance and
31:31:00
then they'll stand along wall they won't
31:33:00
get out there I always think of this
31:35:00
this one inventor I worked with early on
31:37:00
his name was Dan I used to nickname I
31:40:00
called him Lieutenant Dan movie Dan heck
31:48:00
came up with this very very simple tool
31:51:00
to clean the underside of lawnmowers he
31:53:00
called for grass buster and clean the
31:56:00
well I guess in less than a minute it
31:58:00
would clean the underside of all the
31:59:00
grass and gunk that would build up under
32:02:00
a lawn mower now I would never use it
32:04:00
because you know I get somebody else to
32:06:00
cut my lawn though but we I'm not I'm
32:10:00
not an end-user so Dan went to one of
32:12:00
these Shark Tank like pitch the
32:17:00
competition things and the guy told him
32:20:00
in the in this competition and I'm all
32:24:00
for pitch competitions I think they're
32:26:00
great I've won them I've been in them
32:28:00
but you you you have to not count that
32:31:00
as the as the yeah thing we always teach
32:33:00
but but Dan went to this and somebody
32:36:00
told him is one of the guys told him he
32:38:00
said no one will ever buy one of these
32:40:00
well you got to know Lieutenant Dan he
32:42:00
was the types that okay I'm gonna prove
32:44:00
you wrong so he went out there and he
32:46:00
tried to sell it
32:47:00
he got tons of doors slammed in his face
32:49:00
nobody wanted to resell it no
32:51:00
distributor to give him the time of day
32:52:00
and finally he was took it at this trade
32:54:00
show was this a lawn and garden show in
32:56:00
Louisville and he asked me this was back
32:58:00
in the days where I could actually go
33:00:00
and it'd kind of be a little more
33:01:00
involved plus we were trading some
33:03:00
services out I don't think it was
33:05:00
cutting my long but he was helping with
33:06:00
some other stuff but he so he said down
33:09:00
would you come and help me and in the
33:11:00
trade show booth I've never done a trade
33:12:00
show before I said sure down I'll help
33:14:00
you with this so and I'm glad I did now
33:16:00
because I got to tell this story and so
33:19:00
I went to this trade show and there he
33:21:00
was and he
33:22:00
and all these other booths around him
33:23:00
all these distributors that had just
33:25:00
completely snubbed him and the last day
33:27:00
of the show on Friday they had this open
33:30:00
to the public the end users were
33:32:00
actually coming in and you could
33:34:00
actually sell product now Dan had a
33:36:00
couple of really small lot test Lots
33:38:00
made he had a first-generation lot it
33:40:00
was probably about 225 units he had a
33:43:00
second one probably about two 200 to 250
33:46:00
units so he had these two boxes by 10:30
33:50:00
that morning on Friday he had emptied
33:53:00
the first box mine he had emptied the
33:56:00
second box
33:57:00
he was completely sold out now a funny
33:59:00
thing was happening all of these
34:01:00
distributors all of these other people
34:03:00
in their boos were all looking and
34:05:00
saying what's going on in there there's
34:07:00
people five there's five people deep all
34:09:00
with money in their hands wanting to buy
34:11:00
this what the world's going on over here
34:13:00
and and so suddenly it was a game
34:16:00
changer for Dan and now he's picked up
34:18:00
distributors he's selling he ended up
34:21:00
selling his business but he was selling
34:22:00
the distributors all over the country
34:24:00
with this thing this one thing that one
34:26:00
person told him no one will ever buy on
34:28:00
behalf but the customers were the ones
34:31:00
that were driving it and that that's
34:33:00
what it truly comes back to its customer
34:35:00
discovery that's right you know carmine
34:37:00
and I have talked a lot about this one
34:39:00
you know I would not want to been the
34:41:00
guy in the office who turned away the
34:43:00
Snuggie or turned away you know like
34:46:00
karma karma said he would have kicked
34:49:00
the guy out the door come in with who
34:53:00
say it's customers customers are truly
34:58:00
gonna I like a lot of inventors that
34:59:00
will come and they'll say can you tell
35:01:00
me if this is a good idea and I'll say
35:02:00
no I can't
35:03:00
I am NOT the person that's going to tell
35:06:00
you now I can show you how and I can
35:07:00
teach you how to find that out but it's
35:09:00
the customers that's going to tell that
35:10:00
that's excellent you know I get that
35:12:00
question all the time hey do you
35:14:00
evaluate my idea that's not my job to
35:16:00
evaluate your idea because yes I can
35:19:00
tell you you know how I can show you how
35:22:00
to do this yourself that's my answer you
35:24:00
know and you're right the inventors need
35:26:00
to need to know that this that it's not
35:29:00
they need to study the marketplace get
35:31:00
themselves out there really do the work
35:32:00
do they learn the processes and then
35:34:00
they can they can find out if
35:36:00
products gonna make it or not you know
35:37:00
so exactly with that story dawn and will
35:40:00
and is what I got from that story is he
35:43:00
didn't give up he didn't give up no you
35:46:00
had a lot of that I mean though that was
35:48:00
a you had a lot of tenacity and he went
35:51:00
he went in again he for him was a little
35:53:00
almost accidental but it was getting to
35:56:00
that
35:56:00
direct user and getting that input and
35:59:00
for his but to the gal the people who
36:01:00
were slamming the doors and his face to
36:03:00
see that was the huge game changer I've
36:06:00
never seen anything quite like it before
36:07:00
I've seen different versions of it
36:09:00
before but but not but not quite like
36:10:00
that but I'm gonna I'm gonna give it one
36:13:00
more thing that got out of that story
36:14:00
that I wanted vendors to hear is that
36:15:00
you say that Don is Dan Lieutenant Dan
36:21:00
got a lot of rejections but he yes
36:24:00
that's where you know again separating
36:27:00
you know the professional from the the
36:29:00
the amateur is learning how to deal with
36:33:00
rejection and believing in yourself you
36:35:00
know to to the point where you're going
36:37:00
to move forward and you got and but then
36:39:00
again there is a certain time when if
36:41:00
you've hit everybody that you could
36:43:00
possibly hit and yeah then you guys the
36:46:00
inventor I'm sure you agree with me that
36:49:00
that's when you make a decision on your
36:51:00
own
36:51:00
you don't let someone else tell you you
36:53:00
know that's decision is yours to make
36:56:00
not as the one else's in yeah you never
37:00:00
let an attorney or a prototype or
37:02:00
someone doing some service for you drive
37:04:00
your but you're the one that's driving
37:06:00
you need to be the one in control and
37:08:00
you need to be armed with the wisdom
37:09:00
just like we were saying but you but you
37:11:00
need with armed with that wisdom you
37:14:00
need to be the driver of it but you need
37:16:00
to let the get the information from the
37:19:00
customers the people that are going to
37:22:00
that's actually going to going to give
37:25:00
you certificates of appreciation called
37:27:00
dollar bills I always say you know in
37:29:00
inventing and in business you know it's
37:32:00
a very very honorable profession and
37:34:00
you're helping people and if you help
37:36:00
enough people people will give you will
37:39:00
say thank you and keep you in business
37:41:00
by giving you these certificates of
37:43:00
appreciation called dollar bills and and
37:46:00
and they will you know that in it that's
37:49:00
I know how that works I mean in they
37:51:00
will help drive you a lot of times
37:53:00
you'll hit these brick walls and you'll
37:55:00
hit these brick walls and you know
37:57:00
inventors will be like oh I just want to
37:58:00
give up and I don't really you know I
38:01:00
can't do this
38:02:00
and what they should be listening they
38:04:00
really should have their ear close to
38:06:00
the ground at that point because they
38:08:00
should be listening for not just they're
38:11:00
saying no but why are they saying no is
38:13:00
do I need to change this one thing how
38:16:00
do I need to pivot okay you don't want
38:19:00
to buy this you won't pay to money for
38:21:00
this but but you'd really pay money for
38:24:00
this over here so into that input that's
38:27:00
where it becomes very very critical
38:29:00
that's where you're going to find your
38:31:00
your customer discovery is going to
38:33:00
teach you where the market really is
38:36:00
that's excellent advice because you said
38:39:00
something earlier on about making
38:41:00
prototype if spending a lot of money on
38:43:00
prototypes this is why I coach not to go
38:47:00
out and spend money on fancy prototypes
38:49:00
because you're going to get valuable
38:51:00
feedback if you're pitching your product
38:53:00
to companies they're going to hopefully
38:55:00
give you some great feedback on how to
38:57:00
make your product better and a good
38:59:00
adventure we'll take that advice and not
39:02:00
ignore it and then move and adhere that
39:05:00
whatever feedback they get to their
39:07:00
product to make it better to reach a
39:09:00
bigger market and make themselves
39:11:00
successful that is excellent advice
39:12:00
absolutely exactly because because when
39:15:00
you no matter what you have put together
39:17:00
once you I always love what Steve Blank
39:20:00
says he says no really haven't done
39:24:00
market validation until you have been
39:27:00
able to see your customers pupils dilate
39:29:00
and it was another one for an army
39:33:00
general and I guess it was really
39:35:00
thinking of this one first and that's
39:36:00
that no no battle plan ever survives
39:39:00
contact with the enemy and once you get
39:41:00
out there with it you don't you may have
39:44:00
thought you've just built the perfect
39:45:00
prototype you got the functionality down
39:47:00
it's just humming everything's beautiful
39:49:00
and then you take it to people and
39:51:00
they're saying well you know I really
39:54:00
wouldn't pay for this thing that you
39:56:00
thought was the cat's meow but this
39:58:00
other thing over here that you really
40:00:00
didn't think was important at all now I
40:02:00
would pay double
40:03:00
for that yeah and that's where you need
40:05:00
to be changing things and that and you
40:07:00
have to leave it open to that and if you
40:09:00
just paid spent all your money on
40:11:00
building what you think is oh but it's
40:13:00
perfect just like it is the customers
40:16:00
are gonna tell you what's perfect not
40:17:00
not not what's going on inside your head
40:19:00
yeah I agree and and the good part about
40:22:00
it is you have to think about it it's
40:23:00
never gonna be perfect and that's why I
40:25:00
mean you look at the iPhone they have
40:27:00
seven versions out there so if any
40:29:00
designers out there think that there
40:31:00
have better engineers than NASA or Apple
40:34:00
or ever you don't have to be perfect you
40:36:00
know think about versions get your first
40:38:00
version out there and make some money
40:40:00
exactly well it's been a great show dawn
40:44:00
you've been you've been a ton of
40:46:00
information and it's been I mean really
40:48:00
inventor listening to this show I can't
40:51:00
wait for it to come out because this has
40:52:00
been great stuff to hear so real quick
40:56:00
what is your what is your takeaway
40:59:00
advice to inventors out there across the
41:01:00
across the land what what from your
41:04:00
experience what's your advice to them
41:05:00
what where to get started that kind of
41:08:00
thing well yeah number one people are
41:11:00
important people so get involved if you
41:15:00
have a local inventor nonprofit inventor
41:17:00
group get involved with them get
41:18:00
involved with other inventors you know
41:21:00
the rivers win a livewire and a dead one
41:23:00
is connections so you need to be
41:25:00
connected not just with inventor groups
41:27:00
but also with people in your industry I
41:30:00
get out there be totally immersed in
41:32:00
what's going on and the other thing is
41:36:00
look of course the wisdom what we've
41:38:00
been talking about wisdom is vitally
41:40:00
important for inventors there's an old
41:42:00
proverb that says well the wisdom is
41:43:00
more valuable than old and it's really
41:46:00
true if you think about it because it's
41:48:00
more valuable than the time of the money
41:49:00
you put it and the third thing is
41:51:00
diligence diligence is just vitally
41:54:00
important and that's that tenacity
41:56:00
that's that's that's sticking to it we
41:59:00
have a lot of inventors and they'll you
42:00:00
know they'll be all excited you know
42:02:00
they'll they'll go to a show or
42:04:00
somewhere we're all I'll be doing a talk
42:06:00
or speaking and they'll be all excited
42:09:00
during the show or the event or whatever
42:12:00
it is but then come February when it's
42:15:00
cold or
42:17:00
here in August when it's hot and they're
42:19:00
like I'm just not feeling it I'm just
42:21:00
gonna sit this down here and I get back
42:24:00
to it and we teach our inventors we tell
42:27:00
them we say you make an appointment with
42:28:00
your invention just like it's an
42:29:00
appointment with a doctor an attorney
42:31:00
you make an appointment with you with
42:33:00
your invention just like on paper on
42:35:00
purpose and you say okay on Wednesday
42:37:00
between 6 & 9 p.m. I'm putting down the
42:40:00
remote I'm getting up off the couch and
42:41:00
I am working on my invention and a lot
42:45:00
of inventors they'll you know they'll
42:46:00
set it down to let the minutia of life
42:48:00
get away and then they'll just come back
42:50:00
to it like months later and they'll
42:52:00
they'll like okay we're all this tie and
42:54:00
go so you really has to be on purpose on
42:58:00
paper and that's why the diligence part
43:00:00
so people wisdom and diligence those are
43:02:00
the three three keys I think right there
43:05:00
just made the whole show my friend that
43:07:00
was it that was it if you if anyone
43:10:00
could just hear any part of this show
43:11:00
that was the part they needed to hear
43:13:00
because showing up for your showing up
43:16:00
to your business I you know I'm I cannot
43:19:00
tell you how many times I say this I
43:21:00
don't care if you show up for an hour 30
43:23:00
minutes even I don't care what it is
43:25:00
just show up you know know every single
43:27:00
day I mean whether whatever it is you do
43:30:00
have time if you if you really want to
43:32:00
make time you can and I you know I even
43:35:00
tell inventors utilizes the time zones
43:38:00
companies are in California you're you
43:41:00
know you might be in your PJs but this
43:42:00
still is still work time and people in
43:44:00
California utilize that stuff yeah
43:50:00
karma is there anything else you have
43:51:00
for Don no no I thought was an excellent
43:54:00
show as I said I think just by listening
43:56:00
to Don and the wisdom he displayed he's
43:59:00
been doing this a long time and we need
44:02:00
inventor groups like Don started his
44:05:00
people out there that are looking for a
44:06:00
group and there isn't one in their area
44:08:00
star went up seek went out as has Don
44:12:00
had said numerous times no one there was
44:14:00
anything great by themselves you have to
44:16:00
work together that's right exactly right
44:19:00
and well listen thank you guys for being
44:22:00
here on the licensing jungle Don thanks
44:25:00
so much for being here as a guest and
44:27:00
look forward to getting this out and let
44:28:00
inventors here hear this
44:30:00
show and really looking forward to it
44:32:00
and if anyone again with her a quick
44:35:00
plug if anyone out there is interested
44:36:00
in product coach USA you can visit my
44:38:00
website or product coach usa.com you
44:41:00
know su email me with any questions you
44:43:00
have a product coach USA at gmail.com so
44:47:00
yeah thanks for thanks carmine for for
44:50:00
hosting and allowing me to co-host with
44:52:00
you it's just a true pleasure great show
44:55:00
thank you so much done and I want to
44:56:00
everybody know if you're driving you're
44:58:00
listening to the podcast I'll have
44:59:00
everyone that was on the show today's
45:01:00
contact information on the inventors
45:03:00
website inventors Launchpad website
45:05:00
inventors Launchpad comm all of the show
45:09:00
notes contact information for Don and
45:11:00
for Jeffery will be up there go ahead
45:14:00
and peruse the site listen to some other
45:16:00
great podcast I thank you everyone for
45:18:00
listening and have a great day everyone
45:21:00
take care

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