“The Odds Of You Licensing That Idea Are One In A Million”
In my home office, I’d brainstorm new ideas while shooting baskets with my indoor Ohio Art basketball game. I’ve always loved playing basketball. There’s nothing quite like making a few buckets.
This Ohio Art indoor basketball game featured a small picture of Michael Jordan on the backboard. Being a huge Chicago Bulls and Michael Jordan fan, I thought to myself, Michael needs to be bigger! Does the backboard have to be square?
So, I bought a Michael Jordan poster at the mall and resized it on a copy machine to fit the backboard. After removing the original graphics, I taped the resized image to the backboard.
Now the entire backboard was Michael Jordan, and I absolutely loved it.
But, like everyone else, I wasn’t quite sure anyone else would feel the same way — so I asked my wife.
She wasn’t a big fan of this idea.In fact, she told me the chances of me licensing this idea were about one in a million.
No matter: I photographed my prototype and named it, “Hoop Hoop Hooray.”
A rough prototype, but they’d get the idea. A ridiculous name, to be sure. It was for a complete range of different types of indoor basketball games I included with my sell sheet.
I didn’t file any intellectual property — didn’t even think to — and sent it to Ohio Art.
To my surprise, they were interested in the Michael Jordan version. In just three days, they offered a signed contract and gave me an advance payment.
Ohio Art nailed it with the name: “The Michael Jordan Wall-Ball.” This product was a hit, selling in every major retailer, including Walmart, for over 10 years.
Seeing my idea in stores was amazing. I couldn’t believe it!!!
Even more incredible was watching the Michael Jordan Wall-Ball commercial with my kids on Saturday mornings. Michael Jordan himself endorsed the product, calling it the best-looking backboard he’d ever seen.
Truly amazing!
From this experience, I learned that it’s okay to ask others about your ideas, but…
1. Only one opinion really matters when product licensing: The company you’re pitching to.
2. A good idea is a good idea, regardless of how it’s presented.
3. Licensing is a numbers game. Keep creating, keep pitching.
4. Find those companies that want to work with us, idea-people!
Every product I license teaches me valuable lessons.
Being able to create new ideas and make a living has always made me feel very fortunate. I also feel it’s my job to help my fellow creator and pass those lessons forward — and that’s why inventRight was established over 23 years ago.
