What You Focus On Is What You Get!

I love this statement!

But what does this have to do with inventing, licensing your invention, and making money?

I’ve found it has plenty to do with inventing, licensing your invention, and making money. As I’ve become more involved with inventors over the years, I’ve noticed it has quite a bit to do with inventing, especially when it comes to earning money or royalties from your invention.

When I was looking to get my invention - BetterBlocks™—into the marketplace, my thinking was quite simple… because really I’m not that smart! I was looking for someone who could sell LOTS of my blocks, and here’s one of the reasons why.

One of my favorite sayings is, “I’d rather have a small piece of a large pie than a large piece of a small pie.” When it comes to earning a royalty, my royalty is only a small piece of the retail price my invention is sold for. So, whoever I license my invention to, I want them to sell plenty for me to make money!

I didn’t initially focus on getting a licensing deal, I focused on finding someone who would sell “tons” of BetterBlocks. If I could find someone who could sell and was keen to sell “tons” of BetterBlocks, I was confident I could work out some kind of deal with them.

Eventually, they really did sell “tons” of BetterBlocks. Over 600 million blocks weighing over 1,200 tons.

Here’s why they sold “tons” of BetterBlocks. When I say “they,” it was actually one person who orchestrated all this, Kelvin. Kelvin was very good at marketing and selling, he sold BetterBlocks through Direct Selling on TV.

Kelvin’s marketing campaigns were so good that when the adverts appeared on TV, kids would drag their parents to the TV to watch them, phone up, and order BetterBlocks.

When BetterBlocks made it into retail stores, parents would go into the store having already made their decision to purchase BetterBlocks, instead of having to decide in-store, at the last minute, from the array of competitor's products on the shelves.

The power of creating customers with premade decisions cannot be underestimated.

How your invention is marketed and sold powerfully affects how successful your invention is and how much money you earn from royalties.

Here’s what I’ve noticed. I know inventors who have licensed their inventions only to be paid little in royalties because their invention has not sold that well, often due to a lack of marketing. I think this is a great shame because I know all the work, heart, and soul inventors put into inventing their products.

I also realized that not every invention is going to be a “World’s Best Seller” and earn the inventor millions in royalties, but I do know one factor which has a great influence on how much money you’ll earn in royalties, and that’s how your invention is marketed and sold.

It doesn’t matter how good a licensing deal you have. If your invention is not marketed and sold, you’ll probably not earn as much money.

So, getting back to my original statement of “What you focus on is what you get,” I focused on finding a person or a company that was willing to market and sell my invention.

After that, I worked out a licensing deal with them rather than focusing on getting a licensing deal and often hoping they would market and sell my invention… because, all too often, I’ve seen inventors’ wonderful inventions become “just another product” in a company’s range of products, and you and your inventions deserve better than that!

The exciting thing about focus is, it’s a choice we’re in total control of, it's a choice we make! So please choose wisely, as over time it can make quite a difference in your life. I know it has in mine.

Hope this helped you out.

With Gratitude,
Warren