I have great inventions. I can give you names of investors who want to invest with me. I have refused all investors. I KNOW my product is dynamite, and wanted to self fund the entire thing. Are you an inventor? Have you been there before? That grinding in your gut telling you that your product is needed, necessary?
When talking to the person who has never done this before and thinks they understand what commitment really is. Nothing will test you as much as the hat of an inventor. When I am talking to the person who HAS done who has done this before, who KNOWS that this is not easy to do a startup, no matter if you have the best thing since sliced bread, they just smile and nod. The great ones have done it.
Often the questions revolve about “What did you do to start your company?” As an inventor you have to do two things. You have to be willing to sacrifice, and you have to understand that this will be the toughest thing you will ever do in your life.
I am talking REAL sacrifice.
Sacrifice doesn’t mean giving up Starbucks. As an inventor I have been placed in tough positions. I had two homes. To get the funding I needed for patents and start-up costs, my only funding was my second home. I sold the house. I got all the testing done, the molds done, the patents pending, everything, but ran out of money to pay for the trade shows to get the orders.
How tough do you have to be? My dilemma is this. Do I sell my house, rent a place, and pay for the shows? Or do I walk away, with no investors, and a full company sitting, waiting, to get their first order and no one knows I exist? When UC Davis has your invention, and they say it's wonderful, what would you do?
Are you willing to go there? What would you do?
Any guesses about what I will do? In the next few days I will be writing about being an inventor and what you have to do to succeed. When I am finished, I will tell you what I have done. By then, its either worked, or not.
Got any questions? Tell me what you would do. Are you an inventor? Will you stick your whole life out and risk it for your inventions?