It’s hard as an inventor not to have dreams of great success. Most inventors have moments of imaginary grandeur. I have said this before and will remind you again, there is nothing easy about inventing and there are no guarantees. One of the hardest things I have to do is help an inventor understand “time”. It takes time to get a product to market and more time to get the ink dry on a licensing deal and then more time to get the product to the store shelves.
I recently had a client very disappointed that he didn’t have a “deal” done in a matter of months. He had no product manufactured to sell which creates a huge hurdle. It’s not impossible to get a deal, but it does take longer.
I always make sure that I explain the possible timeframes and obstacles for various products. Since as a licensing agent, I don’t get paid until the inventor gets paid, I have to be very aware of timeframes. The hardest part is when the inventor “forgets” what we discussed in the beginning and goes back to believing in unreachable goals.
Bottomline: Timeframes are hard to pinpoint. Don’t be unrealistic. The more you do for your product, the easier it is to license. The less you are able to do, the more challenging it is to get a deal and it takes MORE time.