👇 SUBSCRIBE TO DAVID’S YOUTUBE CHANNEL NOW 👇 https://www.youtube.com/InventionLice... Check out these Top Trending Playlists - 1.) Royalties through Inventions - https://www.youtube.com/playlist?list... 2.) $1,300,000 Royalty Mistake - https://youtu.be/9Tbwdaa4mlk 3.) Invention Help : FAQs - https://www.youtube.com/playlist?list... ★☆★ CONNECT WITH DAVID ON SOCIAL MEDIA ★☆★ YouTube: https://www.youtube.com/c/InventionLi... David Fedewa Blog: https://www.inventtribe.com/blog David Fedewa Coachi...
Aug 30, 2022•3 min•Ep. 77
Aug 23, 2022•2 min•Ep. 76
👇 SUBSCRIBE TO DAVID’S YOUTUBE CHANNEL NOW 👇 https://www.youtube.com/InventionLice... Check out these Top Trending Playlists - 1.) Royalties through Inventions - https://www.youtube.com/playlist?list... 2.) $1,300,000 Royalty Mistake - https://youtu.be/9Tbwdaa4mlk 3.) Invention Help : FAQs - https://www.youtube.com/playlist?list... ★☆★ CONNECT WITH DAVID ON SOCIAL MEDIA ★☆★ YouTube: https://www.youtube.com/c/InventionLi... David Fedewa Blog: https://www.inventtribe.com/blog David Fedewa Coachi...
Aug 16, 2022•2 min•Ep. 75
👇 SUBSCRIBE TO DAVID’S YOUTUBE CHANNEL NOW 👇 https://www.youtube.com/InventionLice... Please understand that by watching David’s videos or enrolling in his programs does not mean you’ll get results close to what he’s been able to do (or do anything for that matter). He’s been in business for 12 years and his results are not typical. Most people who watched his videos or enroll in his programs get the “how-to's” but never take action with the information. Dave is only sharing what has worked fo...
Aug 09, 2022•3 min•Ep. 74
Check out these Top Trending Playlists - 1.) Royalties through Inventions - https://www.youtube.com/playlist?list... 2.) $1,300,000 Royalty Mistake - https://youtu.be/9Tbwdaa4mlk 3.) Invention Help : FAQs - https://www.youtube.com/playlist?list... ★☆★ CONNECT WITH DAVID ON SOCIAL MEDIA ★☆★ YouTube: https://www.youtube.com/c/InventionLi... David Fedewa Blog: https://www.inventtribe.com/blog David Fedewa Coaching Packages: https://www.inventtribe.com/packages Facebook: https://www.facebook.com/Inv...
Aug 02, 2022•4 min•Ep. 73
What is a realistic expectation? I have been trying to license two different ideas for 2 years as far as getting a licensing deal. Be sure to join us on our next live Q&A with Invent Tribe students. Check out my Inventors Toolbox at https://www.inventtribe.com/inventort... All the tools, hacks, and so much more to aid you in your Inventing journey. Delivered straight to your inbox. 👇 SUBSCRIBE TO DAVID’S YOUTUBE CHANNEL NOW 👇 https://www.youtube.com/InventionLice... Check out these Top Tre...
Jul 26, 2022•3 min•Ep. 72
I believe you have to be a little careful with who you're showing, what you're showing, and where your protection is. I love trade shows, but they have to be at the right time in an inventor's journey through the process. Today, let me share with you how important trade shows are, to get your product out. PS. Are you ready to take the fast lane to earn a full-time income from your inventions? Sign up to schedule a personalized, 1-on-1 Inventor Strategy Session with one of our Licensing Experts. ...
Jul 19, 2022•2 min•Ep. 71
How do you get started in licensing your products? It's not an overnight thing, not a get-rich, quick lottery ticket by any means. You still have to put the legwork in it. Let me share with you today the first thing that you need to do to get started in licensing your products before you go any further especially spending any money whatsoever. PS. Are you ready to take the fast lane to earn a full-time income from your inventions? Sign up to schedule a personalized, 1-on-1 Inventor Strategy Sess...
Jul 12, 2022•3 min•Ep. 70
It is one of the most important aspects of getting your product licensed. And if you do not know or focus or concentrate a lot of your effort on this step, you will not be successful in this business. If you had 100 hours or 100-time blocks of the process of inventing - from inventing to signing a licensing agreement, then 80% of those blocks are going to be taken up in this single step. So in today's episode, I'll share how you can move through that licensing process without trying to lose any ...
Jul 05, 2022•5 min•Ep. 69
I feel this is a very interesting topic because, through the process of getting my product license, I wasn't very happy. And the reason being was that I always had this expectation on myself; to be a successful inventor, be hardworking and do all these things. I was actually quite unsatisfied with myself, which made the process extremely tough because when you're dissatisfied with yourself and your performance, you view every day as a failure. So today, I'll explain why you should focus on doing...
Jun 28, 2022•8 min•Ep. 68
A lot of people see the result, but they don't get to hear the difficulties and the stumbling blocks. Watch Dennis Carter as he shares his awesome journey towards licensing. He is one of the Invent Tribe students who had his automotive product licensed and got a couple of patents on it. Are you ready to start your Inventor journey and license your first invention? We will teach you everything you need to know about licensing your idea and selling it to potential licensees! Book a call with our P...
Jun 21, 2022•24 min•Ep. 67
The improvements clause is very important to me or a potential licensee. This is because product improvements and design changes all come about, and they usually happen throughout the process. A company, if they make improvements, they want rights to it. Or if an inventor, makes an improvement on the product, the inventor doesn't want to get improvement out of the deal. So, what are the ways to handle this? In today's episode, I'll share ways in finding the middle ground that works for both part...
Jun 14, 2022•5 min•Ep. 66
A minimum in a licensing contract is very important but completely misunderstood by both parties. Some companies don't want minimums. They don't want to commit money and then be held to a minimum after they've made all the investments. And so you need to approach it correctly and understand how minimums actually work. And this is something I'm trying to teach the entire industry because even the licensees and licensors don't necessarily understand how mechanically a minimum guarantee works. Toda...
Sep 03, 2021•6 min•Ep. 65
As I said in the first video, everybody flips through the contract and makes sure that there's a 7% royalty or whatever it is that they're looking for. And they say, that's great, but it's not, because the net sales definition actually has a bigger impact on your royalty rate or the actual money you make. You can have a 25% royalty rate, but your net sales definition can take out all of that profit and leave you with $0. And so you need to make sure that you know and understand how the definitio...
Sep 01, 2021•8 min•Ep. 64
Most inventors, when they get their licensing contract would flip through every page to find the royalty agreement or the royalty rate. In reality, that's something that I did personally. I would flip through and when I saw that 5% or 7% and I was like, all right, I'm good to go. But now that I've been in the business so long, I've helped vendors sign over 170 licensing deals, I've seen a lot of contracts and I've helped people negotiate these deals, I would look at the contract differently. So ...
Aug 30, 2021•9 min•Ep. 63
Signing up for NDA is something that you need to speak to your lawyer and get legal advice on because everything is so circumstantial on products, categories, and innovations. Right now, a lot of inventors believe that they want to get NDA signed before they present their product. Such belief is also recommended by a lot of attorneys, but companies don't want to necessarily sign an NDA before they even see the product. So in today's episode, I'm giving you my general rule on how I use NDAs when ...
Aug 27, 2021•3 min•Ep. 62
A lot of inventors jump right to either prototyping or patenting. People love to start the process of bringing their inventions to the market without the foundation of knowledge and understanding the marketplace. That's when they start wasting money and time on a project that won't necessarily go anywhere when they get to that point of pitching to companies. I have ample examples of why you shouldn't do such, and a couple of them are my own. It took me three times to learn that lesson. And that ...
Aug 26, 2021•6 min•Ep. 61
Seasonal products are great stuff and they are fun. I have helped a lot of students sign licensing deals with seasonal products such as Christmas or summer products. They're not necessarily evergreen products, so they don't last 10 years on the shelf, but, you can get more hits than just, one or two in other categories where there's less volume licensed. Today, we're going to talk about the pluses and minuses of seasonal products, if that's the path that you want to do. P.S. Getting to the point...
Aug 18, 2021•5 min•Ep. 60
When I got started in this business, I'm like everybody. I didn't have any pre-existing knowledge. I was a dishwasher, waited tables at restaurants, and so I didn't have this big bank of experience of doing anything. And so one of the things I did is, when I wanted to call companies, I started playing conversations through my mind; on my way to work, on my way back from work, or in the shower. Whenever I was, I play through these conversations in my head. And when I started calling companies and...
Aug 16, 2021•7 min•Ep. 59
Have you ever heard of the Pareto principle or the 80/20 rule? The Pareto principle states that 20% of your actions produce 80% of your results, and 80% of your reactions produce 20% of your results. So what's the meaning of that? The principle is that there are few things that you do that produce results. And the majority of people are doing 80% of the things that produce the lesser of the results. Today, I will be talking about Pareto's Principle of Licensing and the two best things that I foc...
Aug 13, 2021•6 min•Ep. 58
When I got started in the business, I had this big lofty goal. The first year, I want to make $400,000 a year. Right, it's awesome! But every day I kept failing because I wasn't at my goal and it was very discouraging in the business. And so I started to approach it a little bit differently. So in today's episode, I'll share one of the secrets I use to help me stay motivated and focused on getting to my goal. It changes everything, that you don't feel so strained every month, you get to be a lit...
Aug 11, 2021•3 min•Ep. 57
One of the first things I ask my students when they become part of Invent Tribe is - what do you want your life to look like in 3 years? The reason I always ask this it's because I want to make sure that their decisions today align with their future goals. If they don't, then they're setting up their selves on the wrong path to get started. Today, I will be talking about starting 3 years out and getting back today to make decisions. Go get a pen and paper, sit back, and watch this video. P.S. Ge...
Aug 09, 2021•6 min•Ep. 56
From a business perspective, filing patents through an attorney can be difficult because it can get really expensive and can take a lot of time. So if you spend your product development time on doing the patent process, you will have no time on getting your product sold and licensed to a potential licensee that can take your product to market and start monetizing it. However, protection and patenting is also an important part of the process. So which of them should be your priority? Find out in ...
Aug 06, 2021•6 min•Ep. 55
Not falling off your climb to success is not something people think about when starting their journey. That is because they don't think about the fact that they could fall off. We're always projecting forward in our minds on how success is going to show up. We project that this is how it's going to be. But the fact is, it's not always gonna be like that. Chances are if it does not happen according to our expectations, we easily get frustrated and feel stuck in our minds. So in today's episode, I...
Aug 04, 2021•5 min•Ep. 54
Today's episode is about the top 3 WORST categories to try to license your product. I'll give you a hint. The last category can get a little weird. So if you want to know what these WORST categories that you need to get rid off, then go watch today's video! P.S. Getting to the point of making money off your invention is hard. That’s why I’m hosting a very special webinar for you on how to get through all of this. At the end of just 1 hour, you’ll know the techniques to get your invention license...
Aug 02, 2021•7 min•Ep. 53
Today's episode is about the top 5 categories of products that get licensed the most. These categories are the spaces that I see most deals happen. However, a lot of times here's where the most competition happens. So it's not necessarily the best place for you to go to. But it's a place where a lot of deals happen and a lot of inventors get started on these spaces. If you are curious about what these categories are, go watch today's episode and start getting your products licensed! P.S. Getting...
Jul 30, 2021•6 min•Ep. 52
Not falling off your climb to success is not something people think about when starting their journey. That is because they don't think about the fact that they could fall off. We're always projecting forward in our minds on how success is going to show up. We project that this is how it's going to be. But the fact is, it's not always gonna be like that. Chances are if it does not happen according to our expectations, we easily get frustrated and feel stuck in our minds. So in today's episode, I...
Jul 28, 2021•5 min•Ep. 51
Back in 2008, the market crashed that was caused by the great recession. As the economy slowed down and things got difficult, companies had to get rid of the extra in their company, so one of the first things that went is R&D departments. The reason being is they looked at it and said, "we don't need any new products because things are slowing down. We're not selling as many, we're not selling new products." So how did invention licensing turned out to be the new R&D department? I think ...
Jul 26, 2021•5 min•Ep. 50
In this podcast, let's jump right into the nuts and bolts on getting your product licensed. To get things done, you've got to have the confidence, get yourself motivated, and actually do it! However, there are a lot of inventors who come in with this motivation, but when they sit down to actually do stuff, they don't know exactly what to do. So what's next? You have to establish your knowledge base on the nuts and bolts, then the head and heart will eventually align with execution and move forwa...
Jul 26, 2021•4 min•Ep. 49
There is this one question that I get quite often. It has to do with knowing how many "NO" does it take to drop a product. In this industry, we are taught to have perseverance and always push through every obstacle until we get to license our product. But it's not always the case. As an inventor, there's nothing wrong with working hard. BUT if it does not add value to your project anymore, something needs to be done. Want to know how many NO's do you need to finally give up on your product? Go c...
Jun 28, 2021•7 min•Ep. 48
