ForumsFinancing Tips

The 'tell them and the money will come' can work....thats what happened to me. But my investor is also a dear friend who listened for a year before he offered me money to start up. When he felt I was ready...thats when he made his offer.

For the most part, the VC's want you to play the game and do the dance. Whoever plays and dances the best and then gives up the most wins the VC money. However...VC's and angels investors want to know that the weird inventor is also business savvy and has surrounded themselves with good people.

May I ask how can anyone expect to receive money without the business skills to handle it? Being strange as an excuse for being intentionally ignorant?

Then there are the 'patent trolls'...those people that will take your invention, do the engineering, patent work and incubate you...then take 50% or more.

Any inventor that does not apply themself to learning business will always end up on the short end of the stick.

Being creative is no excuse for not being business savvy. Not business savvy??? Then you better start reading and find a mentor QUICK! Being a strange breed is no excuse. That is the best recipie for failure I have seen in a long time...keep preaching it if you want to promote failure.

I am extremely creative...I am a domain expert.....but I know where every cotton picking dollar goes.....I know how EXACTLY much work I have to bill in a months time to pay for travel and other expenses for my team. I know when cash infusions are due and exactly what that money is being spent on....AND I can communicate this to my investor as well.

I know WHAT the marketing program is...and WHO is selling it and WHO is on the customer list. I know who my competition is and what price I have to come in at to undercut and hurt them but still make our money. I also know that my team depends on me to not only let them pull all my knowledge out of my head but to lay on the railroad tracks and accept the responsibility for the success of the venture. I am still learning and if something new comes up I have the benefit of the TEAM to make sure we do it right and all of us are agreed.

I am sounding really fussy here, I know, but your statements "Now, inventors are a strange breed, I am one, of creative people that think if they tell people about their invention(s) the money will come." as well as....

" think there is business from inventors, but sometimes you do have to go to them. They are not business oriented and sometimes have to be hit with a 2x4 to get their attention." ....

seem to be symptomatic of the general view money is somehow owed to people that invent things just because they are inventors and all of the foundational business rules DO NOT APPLY TO THE INVENTOR. (emphasis only not shouting).

Obviously I am of a different opinion.

Tony,

As we have discussed in other threads, yes, I have dealt with many, many inventors, (am dealing with even some from this forum) who absolutely know that their invention is such a great thing and will make so much money that investors are crazy not to just throw their millions at them.

And I have to say, the inventors even get just a bit insulted when you suggest that they need a business plan and a team so that they look attractive to capital.

That is why we have so much training on how to prepare and look attractive to capital at our CEO Space forums. And that is also why so many of the people in our network DO get funded......when they are prepared.

As a matter of fact, I just got an email from Bob Circosta, for those who don't know him, he is the God Father of home shopping (and a member of CEO Space) because he is going to have another 3 of our
inventor members going on his show on the air next month promoting their products.

My friend Maria Simone has helped a lot of inventors get prepared also, but really, one person can only do so much for you. You need all the people and thus comes the catch 22.

They need the money to hire the consultants and advisors to help them prepare so that they look good and can get the money.

Or you can join our membership and get all the access to what you need for less than the price of the retainer for just one consultant or attorney.

And one of the FAQ is Why inventors come to CEO Space?

Kathy

Tony, Where are you going with
" People, I am not looking for financing ". WHAT ARE YOU REALLY
REALLY LOOKING FOR?? A FORMAT TO WRITE A BOOK?? How about SCORE??
What is that going to get you if you convince inventors that they require more than an
invention to be successful.. Please explain without going round and round.
Slow down for a moment and set us straight. We, by answering your post ARE TRYING TO HELP.
LUCKIEST

If you want to convince inventors that they need help then cut and paste my post above and send to them. If that 'motherly rant' doesn't convince them then they need to go back home.

I learned the hard way.

Thanks Tony, the other contributors will be appreciative as well. I wish I could have 15 minutes with every inventor. (sigh...every mothers dream.... )