Forums: Discussions for entrepreneurs and small business.

I have a Provisional Patent for a garment invention and am feeling a bit stuck with my next step.  I`m feeling the clock ticking on my patent as well as seeing competitive(yet different) products coming out which validate the need for my product but let me know I need to hurry and get this out. 

So far I have a written explanation of the invention as well as illustrations of my garment in mulitple uses.  I am trying to figure out if I need a prototype and if so, my garment comes in several styles so am wondering if making one of each would be necessary. 

Part of me would love to try to start a home business but finances are extremely tight and loans are not an option right now so I think I must go the route of licensing.  If anyone wants to talk me out of that I`m all ears!  I don`t have a great concept of how much it would cost to run a home business for a product that would sell for about $20 each but am pretty sure it`s way more than I could come up with at this time.

So, assuming licensing is my best route and lets say I think Hanro or Calvin Klein would be companies that my product would fit well with.  After I have all of my marketing research and data, do I just call them and hope to set up an appointment?  I`m guessing I have to make a pitch over the phone but who might I expect to be talking with- would I ask to be transferred to a specific department?  I`m guessing the receptionist doesn`t want to hear it but can`t imagine it`s too easy to get a call back. 

Sorry for the long-winded question.  I have many, many more but this will hopefully get me some forward momentum!  Thanks for any advice related to this endeavor.

Hi :-)
Having been in your shoes many times in my life, I`ve learned some pretty decent lessons....the hard way. One of the key lessons is that, "There`s no such thing as a once-in-a-lifetime deal!"

Now that may not sound as though it fits, but I can tell you for sure that you`re putting yourself into a major anxiety profile by worrying that you`re gonna "lose this once in a lifetime opportunity." See? :-)

The bottom line is that you may or may not be first to market with your product. If not, it`s possible that whomever else comes out with something similar will gain name recognition. Or not.

It`s not that easy for a product to "sweep the world by storm," y`know? It takes all sorts of work and effort, imagination and creativity.

So even if you DO see other similar products, a much better approach is for you to take it one step at a time. Don`t worry about rushing, or getting out ahead of "someone" who may or may not exist. Focus on what you CAN do, and take the time to do it right.

It may turn out that as you hunt around for licensing, you`ll find a new way to initiate the business on your own; maybe a partnership or something else. The nice thing about long shots is that "although you may not hit what you were shooting for, you often hit something else that`s still useful." Arthur Hailey said that, and it`s true.

The key here is to focus on the idea and making it work, not the time line and how fast you can make it happen. :-) No matter what you may believe, the universe itself and life pretty much both move along in their own speeds.

Try to relax a bit. Many great products didn`t do much at all, and sort of languished due to poor implementation. Then someone came along with a better way to sell the item, and that`s the *brand* we`ve all come to learn.

I appreciate the sage advice. It is challenging to not get carried away with worry that while I`m floundering about with something I know so little about implementing that someone who knows the game a little better or figures it out quicker will snatch it all away!  I recognize(with your help) the folly in this thinking and will try to slow my brain down and let it come a little more smoothly- so thank you! 

:-) You may have some success with an over-the-counter product called Seriphos. It`s a cortisol uptake product, pulling excess cortisol out of your bloodstream. After years and years of anxiety, I ended up with chronic fatigue, which of course "doesn`t exist," according to the AMA.

Anyway, when your mind is going 1,000 mph and you can`t sleep, you`re worried about everything and frustrated about everything else, that`s mostly too much cortisol in your system. Check the link, do some reading, and see what you think. It may be as helpful for you as it was for me.