I’ve been teaching a course, inventRight, with Andrew Krauss for nearly 15 years now. It’s a pleasure. We’re dedicated to teaching people how to license their ideas. We continue to give a lot of our insight and methodologies away for free, but people still need help. Selling a product idea to a company isn’t inherently difficult, but there are a lot of steps along the way. We teach the different skills and practices required to succeed.
I always like to say, “Find someone who’s doing what you want to do and learn from him or her.” It’s the quickest route to success. You’ll avoid making some of their mistakes along the way. At the end of the day, it’s you who will have to dive in. Coaches can help.
The way I see it, education is inherently tied to entrepreneurism. To become an entrepreneur is to value and seek out knowledge. We’re students of life, really. Could we be better students? Maybe.
I’m always thinking about to help our students get more out of our course. So the other day I asked my team, “Tell me about your ideal student. How would she act? What would she do?” This list is compiled with their input. If you have a coach now, are you getting the most out of that relationship? If you’ve thought about joining a coaching program, are you willing to do what it takes to succeed?
1. Secure a level of trust with your coach. Early on, get personal. Tell your coach about who you are, including your likes, dislikes, hobbies, and work experience. People work together better when they feel comfortable enough to articulate questions and concerns. What your coach learns about you will help him determine which strategies and action steps are the most likely to help you become successful.
2. Be open-minded. No one has all the answers. Your coach is there to work with you. Focus on listening.
3. Get in the habit of recapping what you’ve learned via action steps. What are you going to do next? Document it. You won’t forget what’s expected of you next.
4. Stay consistent. Schedule calls as needed. Some students go too long without scheduling a call because they don’t want to ‘bother’ their coach. That’s the wrong way of looking at it! Your coach wants to stay on top of your progress. Check in frequently, whether it’s to review homework, discuss an update, or ask a question. Pick up the phone if the subject matter has weight.
5. Make the focus of your course a top priority. Actively work toward accomplishing assigned tasks each week. Look for ways to get the work done, not for excuses as to why you couldn’t.
6. Set realistic goals about the time you have available to pursue your goals and your ability to succeed. Set goals that inspire and drive, not overwhelm and depress.
7. Listen with the intent to take action. What do I mean? Focus on action steps at all times. There’s a big difference between passively taking something in and noting what needs to be done to move the ball down the court.
8. Don’t be afraid to get real. This is your coach. They are here to help. Having a coach, especially one you’ve hired, is a unique experience. Maybe you’ve never opened up about your ideas before. Maybe you’ve never verbalized your ambitions out loud. Now is the time. Being able to clearly and concisely express a message is an invaluable skill.
9. Do the work. Return asking for more. If you want monetize your ideas, you’re going to need to be enthusiastic.
10. Be patient. Nothing happens overnight. At the same time, you need to maintain a sense of urgency. Accept the process for what it is, that it might take longer than you want. But do everything in your power that you can! It’s a balancing act.
11. Don’t let projects sit too long. Follow up, follow up, and follow up some more. Use down time to learn more and better prepare yourself for the future.
Originally published on Entrepreneur.com November 13th 2015.
