About three weeks ago I got a patent on a idea I came up with six years ago. Now I have about 8 thousand dollars invested into it. I have 15 companies that want to take my idea and try to sell it for me. I don't want to get screwed on this and I don't know who I can trust. Have any Ideas?
- Mike W from Sheboygan, WI
Thank you for your email. First off, I do not have all the details so forgive me if I share thoughts only based on what you wrote above.
Lets first clear up the comment that someone said you did not have to spend 8K on a
patent... from my experience the more you have done before going to market or before bringing on a partner gives you leverage in negotiation. If you were able to secure a patent that sounds like a good thing to me without knowing details and I would not second guess that decision now in the process.
If you have a line of companies that are interested... I say congratulations :) If you did not have a patent you may not be in the same position... so again... dont question the past use it for knowledge for the future. Questioning your steps in any journey only leads you astray. I have found that there is always a reason why people are led or travel the path they do and the sooner you tune in to learn the lesson hidden inside the quicker you move down the path.
You ask me ...Who can you trust.... I get this question all the time. My belief is that past actions predict future experience when gauging a company or a person. Find out as much as you can about the people and the company you are dealing with. The internet makes this very
easy. Donny says all the time on his show... bad people do bad things no matter what you do to guard yourself. So if you find evidence of a bad deal or not happy people throw by the side lines... expect the same.
Combined what you learn about who they are and the deals they have done in the past with your raw gut reaction while you are interacting with them. No matter how great a deal sounds if your hair on the back of your neck stands up every-time you deal with someone, or if a deal
seems to good to be true... it probably is... Take it as a warning and the universe tring to tell you something :) Tip number 2 .... Sleep on every decisions and three, make your choices for the reasons that are "your " core values, not anyone else's.
Hope that this email helps on some small way :)
Wishing you and your family health and happiness
You can learn more about Amilya on her web site, http://www.Amilya.com. And when you are ready to make the entrepreneurial jump, make sure you check out some of the priceless information and inspiration at http://www.LuckyNapkin.com. Lucky Napkin is the country’s premiere “Venture Catalyst” company, an entrepreneurial catapult “Where Great Ideas Launch.”
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