| How to Generate Cash From Your Invention in Six Months
Turning an invention into income can be a very daunting experience, for most inventors. If you have never done this process before, it will be hard to know what you will need to focus on or budget for, to get to the first significant cash-generating transaction.
But what if you are not sure what the first stage is?
The Inventors Academy Level 1 is a six-month program for inventors to take their projects from an ideation stage to their first cash-generating transaction. We know that your first cash-generating transaction is going to give you the freedom of choice and open up your options for taking your product or service to a local, national, or global market.
It can be almost impossible to take an idea from a patent and a prototype to having it generate a global income. You will need an interim plan to generate your first cash-generating transaction, so you can afford to pursue others. As you build your momentum, you not only generate the funds you need to grow your business idea, but you also will get the attention of prospective distributors and licensees you will need in your current or other markets.
The biggest early problem for most inventors is knowing what to aim for and how much money is required to get there. It could take two or three years of failure to accept that you will never get funding for a global market penetration program from any experienced investor. People want to see a track record before they put their investment funds on the line.
In order to reduce the risk of your project failing to meet the first cash-generating transaction, you need to know what to aim for and how to get there. The Inventors Academy Level 1 is an inventors coaching program distilled from nearly 40 years of IP Commercialization, designed for even novice inventors to get their first cash-generating transaction within the six-month program.
This program includes nearly 35 hours of self-paced learning, as well as checklists, templates articles, and case studies, as well as weekly live coaching to make sure your project stays on track.
Part of the early process in this program is the selection of just one core cash-generating transaction that you wish to achieve within this six-month program. We select from 4 core options, which are suitable for more than 90% of inventors in the early stage of commercialization.
Once you achieve your first objective, we don’t stop there. Most inventors re-set to either repeat the objective in another market or select another objective from the list. An astute inventor who follows the program and implements it on a weekly basis should be able to achieve at least 2 of these milestones within the program.
Today, I provide a short five-minute video of each of these objectives, from our course overview. Which of these cash-generating transactions would you select as your first or next transaction, as part of our program?
Early-Stage Funding
Distribution Agreement
Licensing Agreement
A Trade-Sale |
