In this blog I share my own story of how I went from facing bankruptcy, to having an idea in my back shed, to making it into a bestselling international product. This product was BetterBlocks, a children’s building block.
Like so many products that we now take for granted, I invented BetterBlocks out of necessity. I needed to make money to get out of the dire financial situation I found myself in. Luckily to my surprise, BetterBlocks turned into a $45 million idea. Commercially-speaking it was my biggest success. In its prime – I am proud to admit –it gave Lego Corporation a bit of a headache.
At first I didn’t know what to think: was I a smart cookie? A one-hit wonder? Or just failure who got lucky?
Over the years I’ve seen many far better ideas than BetterBlocks fall by the wayside. The question is ‘Why did these inventors who had more money, better patents and better business plans than I fail to get their ideas off the ground?’. This question intrigued me so much that I’ve spent the last 10 years researching why only 1 in 600 patents are ever successfully commercialized and why 99 out of 100 businesses fail in the first 5 years.
I have started my blog, “Warren Wilson Inventor” to share some the answers I discovered during my 10 years of research.