Licensed His Product Through Coaching From inventRight
How inventRight coaching helped Dennis license his 4-in-1 highlighter invention
Dennis Diener signed his first licensing agreement with support from inventRight coaching. Working with coaches Scott and Ryan Diez, he refined his concept, pushed through rejections, and addressed cost concerns by proposing distributor connections and sharing mold costs in exchange for a higher royalty — an offer that led to an agreement the same day. He now has a second and third deal in the works.
“The 10-Step inventRight process works! Embarking on the journey of licensing a product to a company was one of the most challenging endeavors I’ve undertaken. Many years ago, I joined inventRight with the dream of holding my own product in hand. Today, I celebrate signing my first licensing agreement, and the second and third are in the works.
Here’s what I’ve learned. Initially inspired by fellow product developers, I familiarized myself with the inventRight process, making a firm commitment to bring my idea to reality. Despite setbacks, including a rejection for my 4-in-1 highlighter due to perceived “high costs” far down the road, I persisted. Juggling a new job and the demands it brought, I put my idea on hold.
Returning to inventRight years later, I explored new product concepts while the 4-in-1 Highlighter returned from the back of my mind. While it might not be a million-dollar idea, I believed it was at least One Simple Idea. Convinced of its clear benefits and feasibility, I refined the design and engaged with more companies.
Despite facing concerns about cost, I turned obstacles into opportunities by offering one of the previously interested companies to connect them with potential distributors and sharing mold costs in exchange for a higher royalty. A breakthrough came when they agreed the very same day I sent out this offer.
What did I learn? It’s a numbers game, and we must be problem solvers and project managers. Not every company will instantly commit, and our role is to identify and address concerns. Building a mindset around continuous learning and trust in our ability to adapt when needed, is crucial. That way, I personally think failure becomes impossible, and success is only a matter of time.
I extend my gratitude to Scott, Ryan, Stephen, and Andrew for their motivation, valuable feedback, and guidance. inventRight, in my view, is more than a system — it’s a life school, turning not just ideas into reality, but us into creators!”
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