SOLUTION: BUL 4310 Florida International University The Inventorpreneur’s Handbook Discussion
THIS IS HOW YOU DO IT, KID The Inventorpreneur’s Handbook By Francisco Guerra Copycorrect © 2014 Francisco Guerra Smashlook Edition Acknowledgements Of all the look that feel been strung unitedly for this tome, none of them are as enigmatical as these. Gratitude is further easily explicit than written, and there’s regularly the awe of leaving someone out, of unintentioncoadjutor slighting someone. (If that ends up substance you, I apologize now.) But consequently no man’s tour is extraneously the aid of another’s, then let me procure a twinkling to rejoice a few key crew who feel been mentors, encouragers, instructors, inspirations and, ultimate but unquestionably not ultimate, clumpmates. The deceased Michael Picora, who primary introduced me to the concept of licensing and who graciously distributed his apprehension and clumpmateliness. I miss you, my clumpmate. To Brian and Angie Glover, who feel been exceling a suitableness me through integral step of this system. We’ve made some moderately marvelous falsehoods unitedly. Thanks so to the South Florida Inventor’s Club—where I primary build my “people”—motivational sign Tony Robbins whose infallible force to inflame others has aided urge me anxious concurrently this method to victory. To David Barman, a precious clumpmate and coadjutor, and to the unnumbered other executives who I’ve had the enjoyment of watching and emulating their leadership wheedle. And, of manner, a meaning rejoices to my uncommbarely instinctful clumpmate, NYT Bestselling agent Rhonda Nelson, whose aid in the despatches of this tome has been inestimable and very-abundantly appreciated. For Frankie Table of Contents Cover Title Page Acknowledgements Dedication Introduction Step One: Finding Your Passion Step Two: Identifying the Market—Who Wants What You Have? Step Three: Secure the Intellectual Property—Protect Your Passion Step Four: Prepare Your Presentation—It’s Showtime! Step Five: Be Strategic—Fake It ’til You Shape It Step Six: Be Persistent—Narrow the Gap Step Seven: Licensing—the Ultimate Money-Maker Step Eight: Close the Deal—Wrapping It up Step Nine: Protecting Your Interests—You’re Equitable Getting Started Step Ten: When All Else Fails—The DIY Approach Coming in May – Shake and Bake: Cooking Up A Fortune Sample Confidential Disclosure Agreement Sample Licensing Agreement THIS IS HOW YOU DO IT, KID… Introduction It’s the million-dollar question—how did you do it? How did you procure your uninfluenced effect from myth to use, from a whatif to a produced-deal? An aha! twinkling to a globeooning bank statement and properties all balance the earth? Did you end from a rich rise? Attend the best colleges and concern grounds in the kingdom? Acquire the infamous obscure handshake? Experience the silver bullet? The defense to those primary three questions I’ll sketch in the tome, but the defense to ultimate few is a comical, vibratory no. No, no, no. Born in Cuba, my strictly fruiting-class rise arrived in Miami when I was five-years-old and, suitableness I’ve since obtained a diversity of degrees from institutions and colleges all balance the kingdom, when I patented my primary victoryful myth, the barely conquer’s I could privilege exceling a suitableness any belief had been graciousness of the proverbial Ground of Hard-knocks. (And it’s quiet my most present alma mater.) When it ends to substance a beneficial creator, there is no obscure handshake or enchantmental silver bullet. There’s uninfluencedly a agency to victory and uniformly you’ve conversant how to fruit the agency, to be twain an creator and an entrepreneur—an creatorpreneur, if you get—then the system behoves quite mere. It barely appears intricate. You’ll attend-to that I’ve attached this tome to my son, Frankie, and he’s eventually the debate I’ve separated to transcribe it. In the excelingcited pages, I’m going to acquaint you what I aim someone had told me when I primary began this tour further than twenty years ago. It’s my fondest aim that my hindsight get be his—and your—20/20, consequently I would feel economyd-for for someone to affectionately pounce me by the scruff of the neck and say, “Listen up and pay vigilance. This is how you do it, kid…” STEP ONE: Finding Your Passion “Passion is the genesis of creativeness.” —Anthony Robbins Sounds too mere, correct? Experience your warmth. Appearance out what it is that you love to do and then appearance out a way to shape a prop doing it. Yeah, yeah, I comprehend. This isn’t new command. You’ve undoubtedly attendd it before, from crew exceling a suitableness a lot of alphabet listed exceling the wheedle on their door or letterhead. But the debate you’ve attendd it precedently—the debate that this tiny nugget of instinct spins up further repeatedly than any other—is consequently it’s significant. It’s key. It’s indispensable. Because warmth is the catalyst. It’s what ignites the flame of appetition, sets squall to intention, incinerates doubt and spins a heedshort ear to naysayers. Warmth fuels the especialty of knowledge, the redisintegration to trance a bigger trance. It doesn’t atincline “no,” it continucoadjutor refreshes the flagging get exceling a suitableness the expiratione of “you can do it” and “what if?” and “try repeatedly” and “equitable maybe…” Much love Superman’s force to fly or Sign Woman’s Lasso of Truth, warmth is the allowed super government of the victoryful. It’s that obscure tiny celebrity that inflames credulity and refuses to liberty. In a earth which is increasingly rewarding mean, it’s the lonelyly rustler piercing the trophy winners far from the forever-growing crew of untrammelled-trade ribbon crew. Don’t meaning you’re dressy abundance to do what you scantiness to do? Educated enough? Don’t meaning you feel the instrument to shape your trance occur? That you feel the correct connections? That you’ve got what it procures? Guess what? You’re wickedness. Warmth get plane the liberal arena. Listen, warmth doesn’t economy if you didn’t disequalize from lofty ground, if years of standardized testing placed you correct buffet in the intermediate of the “of average intelligence” assemblage. It doesn’t economy who your parents were, where they came from or how abundantly money was in their bank statement. It’s the ultimate equalizer, consequently if you’re warmthate environing whatforconstantly it is that you scantiness to do or shape occur, then none of those falsehoods get nonsense. You get excel consequently warmth won’t let you fall-short. Whether it’s an myth you scantiness to procure to negotiate, a benefit you scantiness to contribute, equable a mean effect exceling a suitableness flushtful aspirations, warmth get inflame you to acquire categorically integralfalsehood you can environing what’s fascinated your vigilance and set your mind on affection. That apprehension get communicate you the belief to boldly pluck up the phone and blast on doors. That belief get aid you civilize those connections. You see, warmth detonates cause, cause creates apprehension, apprehension inflames belief and that security reforce culminates exceling a suitableness —tada!—a fruit. And that’s the end, correct? (If it’s not, then you scarcity to go end to the delineation board.) To explain my meaning, I’m going to acquaint you a story. In my hence twenties I was a necromancer on a cruise ship. I’d gotten into enchantment in my deceased teens as a direct fruit of some sibling opposition among me and my younger brother. He was a unshort sorcerer, seriously powerful and, suitableness I had admissible skill (translation: not as cheerful-tempered-natured) I build that I could conquer a enchantment legerdemain in short spell and get a improve rejoinder from an assembly. Economics at its finest and my primary aha! twinkling, one that would eventually chart a manner that would qualify my personality continually. You see, enchantment was my warmth. Finding celebrity that intrigued and wandering me—that I knew to the very marrow of my bones that I was cheerful-tempered-natured-natured at—categorically set my personality burning. It grabbed me by the throat and wouldn’t let go. It didn’t nonsense that clumpmates and cared-for ones supposition I was rottenness my spell, that I was extravagant my personality “playing” instead of fruiting at a “real” job. The barely falsehood that nonsenseed was getting improve, acquireing further, honing my art. I didn’t scantiness to equitable be cheerful-tempered-natured, or cheerful-tempered-natured-natured abundance—I scantinessed to be the best. Thanks to that fervency and pertinacity, it wasn’t covet until I was hosting my own pomps, selling legerdemains and fallacys—some of them for thousands of dollars—to other necromancers, and I flushtually landed a abundantly-coveted job as a spokesperson for Nabisco, traveling all balance the US. (There’s another story there, which I get get to deceasedr, but for now end to the cruise ship.) This meaning cruise method toured the southern Caribbean and uniformly integral two weeks dropped anchor in Puerto Rico. A friend necromancer and clumpmate routinely disembarked there and would do a pomp for the national cadetren’s hospital, and fincoadjutor harassed and harangued me abundance that I agreed to do it succeeding a suitableness him. I’ll be honest—I didn’t scantiness to. I dreaded it. I can’t equable acquaint you why. Call it jade, wheedle it laziness, wheedle it whatever… The effect of oppositeness those sick children struck a antagonistic hush in my chest that I’d equitable as promptly dodge. It was exceling a suitableness that admittedly penninear standing that I sloth followed my messmate into the edifice. It was a benefitable pointized obstruct structure—in other look “cheap”—succeeding a suitableness rusty pure mounds and old bloodnear unripe tile, the skin that had genial closely integral ground cafeteria I’d forforconstantly visited. It smelled love antiseptic and sweat—sanitized indigence. It was claustrophobic, depressing, a soundness of anticipationlessness permeating the very air. The nuns led us down a covet, low-ceilinged bisection and my calamity climbed exceling a suitableness each step deeper into the edifice. I couldn’t regard I’d let myself get roped into this. I could feel stayed on the ship, gotten some abundantly-needed pause. I could feel fruited on my act. I could feel flirted exceling a suitableness Sheila, the new blackjack trafficker. The faithfulness was, I would feel rather been anywhere at that twinkling than there, in that sad tiny hospital in Puerto Rico. And then I walked into the multiintention opportunity and integralfalsehood qualifyd. Hundreds of cadetren, all of them wearing an similar look of expectation, of fluctuation. Equable the older ones, who supposition they were too cool for this class of falsehood. Ask any originator what shapes a pomp and they’ll acquaint you that it’s the assembly, date. It’s force and reaction, the legerdemain and the rejoinder, the fallacy and the rouseled throb or the expirationshort “ahhhh!” The distillation in this meaning assembly was obvious, made my skin prickle, my disposition family. It was then that I saw him, his look further expectant, further eager than any other. His visage pressed resisting the glass of a mean opportunity built into the end mound, he watched the unimpaired act from rouse to terminate, in thorough, fixated, rapt vigilance. He was in segregation from the other cadetren—leukemia, I would deceasedr experience out—and his wheedle was Carlos. Because he’d enjoyed the pomp so abundantly, further than anyone else in the room, I administrationd to communicate him a peculiar act. I late thirty diminutives exceling a suitableness the kid, gave him all of my best nonsense, equable some falsehoods I was quiet fruiting on, and he economyd-for integral unmarried diminutive of it. Loved it. Magic, I detected, was his warmth, too. Carlos made me assurance to end end and I immutable him that I would. What I’d fabricated was going to be a frightful comprehendledge had acetous into one of the most professioncoadjutor and personcoadjutor rewarding I’d forforconstantly had in my personality. “What do you scantiness me to do present spell?” I asked him as I was packing up to liberty. “What would you love to see?” I’ll nforconstantly lose the look on his visage. He smiled, closely wistfully, and looked and me and said, “I scantiness to see it snow.” Snow? Really? Right. Didn’t see that one hence. At the spell I didn’t feel any effect how on earth I was going to shape it snow in a metaphorical weather, abundantly short in a thin tiny hospital opportunity for a termincoadjutor ill cadet, but I knew that I had to shape it occur consequently I’d said I would. For the present two weeks integral untrammelled diminutive I had was dedicated to developing a show that would replicate snow. I’d regularly had a preparedness for using frank items in nontraditional ways to aid in my fallacys—I’d uniformly used rolling coilow shades mounted to the internally of a ample box to shape myself “appear” in what had been a seemingly vacuity space—so I knew that there had to be a way to do it. Lots of temptation and chance, lots of frustrated grumbling and profaneness under my expiration, but by the end of the succor week, I’d produced it. I’d packed the show into an old doctor’s bag and the diminutive we pulled into air, I was off the boat and on my way to the hospital. I knew that I’d made celebrity especial and I couldn’t abide to distribute it exceling a suitableness the kid who’d inflamed it. I hurried down the bisection, through the inclose doors into the multiintention area, toward Carlos’s segregation opportunity…barely to discbalance that it was vacuity. He’d obsolete his conflict exceling a suitableness cancer three days precedently I’d arrived. It breaks my attendt that the boy I’d origincoadjutor contrived my very primary snow agent for—the Snowman™—nforconstantly got to see it, but consequently of him and his mere, seemingly odd solicit, litercoadjutor millions of crew all balance the earth feel comprehendledged the enchantment of that agent. It’s in integral main theme park in the earth—Disneyworld, Disneyland, Universal Studios, SeaWorld, Busch Gardens. It’s been used in unnumbered films—Harry Potter, Twilight, Elf, The Grinch, equitable to wheedle a few—as well-mannered-mannered as videos for megastars Taylor Swift, Miranda Lambert and Justin Bieber. It was my break-out myth, the one that flushtually instituted my economyer as a serial creator and has put me at the helm of the amplest eespecial effects audience in the earth. It was the game-changer, my clumpmates, and if I can do it, then you can too. STEP TWO: Identifying the Market—Who Wants What You Have? “The aim of negotiateing is to comprehend and discern your customer so well-mannered the effect and benefit fits him and sells itself.” —Peter Drucker So you’ve build your warmth and you’ve conversant integralfalsehood you possibly can environing it. You’re pumped up, you’re psyched, you’re responsive to procure the earth by rage. Excellent, primary, consequently you’re going to scarcity that distillation. For negotiate examination. Sorry for blasting the coil out of your sails, but it’s the faithfulness. It doesn’t nonsense how wandering you are environing your effect if there isn’t a negotiateable scarcity for it. If no one is causeed in what you feel, then this is a ample impediment. One that can further than lovely be surmounted exceling a suitableness a tiny re-envisioning and initiative, but it’s quiet a immanent height. Let me communicate you an development. Uniformly upon a spell, when Frankie was a toddler, he economyd-for the indoor playgrounds featured at sundry of the unswerving-food restaurants. He especicoadjutor economyd-for the globe pits. So I’m sitting there watching him one day, and a nearby kid loses his diaper and allowance to indication his immediate country. (A very incongruous skin of successful arch, let me acquaint you.) Another kid has covet ropes of snot trusting from his nose, and another is cramming one of the globes into his discloseding. Ew. It’s a germ-infested, unsanitary clump and, consequently I’m an creator and inventors admittedly meaning incongruously from the pause of the earth, my brain immediately rouses looking for a disintegration to clear those globes. Days deceasedr I’d produced my primary prototype. It was a show that vacuumed the globes from the pit, spun them through a clearing/sanitizing disintegration, then dried them and shot the globes into an forecast container. Brilliant, yes? I supposition so. So abundantly so, in occurrence, that I wasted-separate a ample chunk of important into the effect and Fran’s Lickety-Split Ball-Cleaning concern was born. And astern died a prompt, high-priced death…consequently I fall-shorted to do the indispensable negotiate examination. I equitable antecedent that integral unswerving prop pauseaurant on the planet exceling a suitableness those disagreeable globe-pits would scantiness my benefits. I antecedent wickedness. Those concernes are primarily franchised out to separate owners who would rather pay a minimum-wage employee to do the job exceling a suitableness a garden hose than employ a partal beyond rise. Unsurprisingly, this would feel been aidful to comprehend precedently I went to the spell, calamity and expenditure to fabricate, design, and construction a agent to do the job, then disclosed and staff a rouseup to manipulate what I fabricated would beend a multi-million dollar concern. Hindsight, recollect? Do your abodework. Examination your negotiate. And equitable when you meaning you’ve produced all the examination you can do, go end and do it repeatedly. Trust me on this. Had I procuren the spell to actucoadjutor go in and accost to a few of those restaurant owners and managers and said, “Look, this is what I’ve got, isn’t this odd, would you be causeed in hiring Fran’s Lickety-Split BallCleaning Concern to abstract the urine and snot and spilled coke and French fry crumbs from your globe pit?” and actucoadjutor listened to their rejoinder, I’d feel dodgeed this rookie chance. That said, don’t be cautious to meaning big. Don’t be cautious to investigate alternate uses for whatforconstantly it is that you feel. Did you comprehend that Play-Doh’s original intention was to clear coal and soot from the mounds of crew’s abodes? It’s true. When clearer distillation rises became profitable and sales nose-dived, the original audience visaged delaydrawal. It wasn’t until one of the owner’s noticed that his sister, who was a ground instructor, was allowing her students to use it as effection carcass, that the “toy” intention was detected. They added a scent—to cbalance up the old, short appealing one—and rebranded. That’s ingenuity. People, as a administration, incline to balancecomplicate falsehoods, meaningly when they’re dealing exceling a suitableness the obscure, and that’s especicoadjutor penny when it ends to the accidental creator. We’ve all attendd the old dictum, “Necessity is the mother of myth” and I can’t fabricate that pennyr look feel forforconstantly been unwritten. From the 1930’s housewife who complained to her mate that she scarcityed celebrity to await her native “bob cut” in place—thus the bobby pin— to the Kellogg brothers who were looking for healthier eating choices for their patients and inadvertently stumbled upon Corn Flakes, scarcity has inciten the negotiate. Need get regularly incite the negotiate. Say you’ve fabricateed celebrity congruous to an corporeal effect alresponsive on the shelves, or a benefit that’s alresponsive substance contributed, but your effect or benefit is incongruous. (And, one would anticipation, improve.) How do you experience out if there’s opportunity in the negotiate for your effect? First command of concern—look at who’s alresponsive manufacturing and distributing what’s out there. When I made the conclusion to procure my primary snow agent to negotiate, I went into integral big box supply in my area and combed through their Christmas and interest sections. I looked at integral effect that was equable remotely congruous to mine—or served the similar class of intention—and, using my faithful recorder, I serene the wheedles of the constructionrs and the distributors. It wasn’t hard. The notice was correct there. Oftentimes, equable the discourse. Armed exceling a suitableness that notice, I came abode, wholly examinationed the various companies and put unitedly cut sheets—an balanceview exceling a suitableness spec details—and mailed (yes, mailed them, the cheerful-tempered-natured-natured quaint way) to each immanent client, exploration if they’d be causeed in licensing my effect. Within filthy days of those packets going out, I had an extend of $50,000 in advance resisting royalties. So what was the separation among the globe-cleaning concern and the snow agent? Demand. A bigger negotiate. Much bigger, it would spin out, than I’d forforconstantly tranceed. You see, exceling Carlos passed far, I brought the snow agent end and put it up on a rejection, where it astern sat for two years. I’d custom-made the fallacy for him and had been disinclined to distribute it exceling a suitableness anyone else. It wasn’t until the City Manager of Hialeah, Florida came to see me environing borrowing some falsehoods from me for their audience picnic that it flushtually resurfaced. I’ll nforconstantly lose it. We were out in my treasure, looking through my economyfully labeled inve ...
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