Are you one of the many inventors who think licensing is the golden ticket to success? If so, it’s time to reconsider your approach.

The allure of handing over your idea, letting a company do all the heavy lifting, and sitting back to collect royalty checks is undeniably appealing. But the reality is often quite different, and here’s why: licensing rarely works if your product hasn’t made any sales.

Lets understand why most people get licensing backwards, and more importantly, how you can flip the script to make it work for you with an approach we call Reverse Licensing.

The Licensing Myth

Licensing sounds like the perfect shortcut:

• You pitch your idea to a company.
• They invest in manufacturing, marketing, and distribution.
• You collect royalties.

What could be easier?

But here’s the harsh reality: Licensing rarely works if your product doesn’t already have sales or committed orders. Companies are unwilling to take a gamble on an unproven idea. Why?...

How NOT to Invent a Product

Are you ready to dive into the surefire ways to fail at inventing?

If you’re looking to ensure your next invention is a spectacular flop, you’ve come to the right place. Here's how you can master the art of what not to do.

Step 1: Solve a Problem No One Has

First things first: why bother with real-world problems? To truly botch your product development, start by inventing something for an small problem. Forget about market demand; it’s overrated anyway. This approach guarantees that your product will resonate with absolutely no one but you, securing its place in the hall of fame for unnecessary inventions.

Step 2: Skip the Research

Research is such a drag. Who has time to check the size of the market or scope out potential competitors? Assume your product is a stroke of genius. Begin by counting the profits you’ll never make. Ignoring your market ensures that you’ll be blindsided by actual consumer needs and existing...

In the realm of innovation, many inventors grapple with a central question: Should they license their product idea to another company or launch it themselves?

On the surface, licensing seems to be a shortcut to success. You conceptualize, another firm produces and markets, and you sit back collecting royalties. However, a deeper dive reveals that licensing is often more of a fairytale, primarily because your product is unproven. Conversely, launching a product, i.e., taking control of its manufacturing and selling, is typically the best bet for real-world success, especially when selling online or in retail outlets. 

Licensing: An Uphill Battle with Low Odds

Licensing, while theoretically appealing, often turns out to be a challenging endeavor. Here's a closer look: 

1. Unproven Ground: One of the most significant pitfalls of licensing is that an unproven product has little to no sales record. Brands are naturally risk-averse. They are less likely to take a chance on an...