Tag Archives: innovation

FOCUS! The Inventor’s Curse

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I remember the day when I realized that I needed to focus.

I was playing golf, poorly; I was playing tennis, so-so; I was canoeing in whitewater, not bad.

I realized that I needed to drop two of these sports and focus on just one, not to become a world-class champion, but to develop a high degree of skill.

I decided to move on from canoeing to whitewater kayaking.  I dropped the other two sports.

In whitewater kayaking it is critical to stay focused on each impending rapid to get maximum enjoyment, and to avoid disaster!

How does this relate to innovation, you ask?

The great quality of a creative person is that…they are creative.

They can see a problem and can rapidly envision a solution.

The curse of a creative person is….LACK OF FOCUS!

As I engage with inventors, innovators, product developers, visionaries, thought leaders I frequently hear “I have a lot of ideas….”

That is why I developed a 41 question rating system so that each idea, concept, vision can be compared to the others.

Why? So they can be prioritized.

If multiple ideas are simultaneously pursued, the death of all the ideas is virtually certain.

If the idea with the most promise is pursued first, commercialized, positive cash flow is created, and the break-even point (you recover your investment) successfully passed, then you can move on to the next idea in priority (assuming that the market window is still open).

I understand that it is so much more exciting to jump from one idea to another, following the next shiny moving object.

However, just as a magnifying glass focuses the energy of the sun to a single point and ignites a fire, so can focusing all your attention and resources on your best idea generate the momentum to move your idea into the marketplace.

Accomplishing each step fills you with energy and the satisfaction of positive progress.

Lack of focus pulls you backwards; singularity of focus propels you forward.

In my office I have signs everywhere with the Samurai quote “A focused mind shatters stoneTM”!

If you need help with focus, request the “First Steps” report and then give us a call.

We have been there ourselves and can keep you on track.

The Patent “Which-Comes-First-The-Chicken-Or-The-Egg?” Dilemma

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In the early stages of your innovation journey you might be tempted to rush out and have a patent application filed.  Whoa!  Stop!  Wait!

This urge may be fueled by the legitimate concern that another bright mind is simultaneously working on the same innovation, or that “someone will steal my idea” if I hesitate.

Industry best practice is to first formulate your business strategy prior to crafting your intellectual property strategy (of which a patent is only one part).  That is correct, business strategy is “the chicken” and intellectual property is “the egg”.

Your first reaction might be: “business strategy?  I’m a creator, not a business person”  Welcome to the business of innovation.  Here are just a few of the questions you should ask, and answer, in developing your business strategy.

- Am I going to license my invention, or form a company, or both?

- Can my invention be reverse engineered?

- Do I reveal my “secret sauce” of how it works, or do I keep it a secret?

- Is my invention “shelf ready” (already manufactured, packaged and ready to ship), an idea on a napkin, or somewhere in between?

- Will I need government approval (FDA), or industry certification (UL) and how much time will that take?

- Who is my competition and what compelling benefits does my product/service have?

- What will be the life-cycle of my innovation and what will be the first version, second version, etc.?

- What countries outside the U.S., if any, are appropriate for this innovation?

Of course there are many other questions that must be asked and answered before you have a framework for deciding on the role that Patents, Trademarks, Copyrights and Trade Secrets will have to protect and promote your innovation.

Ron Reardon, Patents & More, Inc.