QUESTION: What was the time frame between having the idea to the patent being sold?
ANSWER: It took me about 35 seconds to think of the idea for BetterBlocks©, then to develop it and get it into the marketplace, was about another 3 to 3½ years. I built the prototypes myself but I couldn’t manufacture it.. didn’t have the money as I was $100,000 in debt.. I wasn’t a marketing person.. in fact there was a long list of skills and resources that I didn’t have. So I had to find, then assemble a team of people who had all of the skills that I didn’t have but were necessary for BetterBlocks© to be successful. Invest in your team as well as your product. With BetterBlocks I not only invested in my idea that was going to become a product but I also realised there is a whole lot of business skills and resources I did not have and a team effort was required to make it all happen properly and in the sequence that it is supposed to happen. They may not have been as creative as me but were far better at manufacturing, sourcing venture capitalist or they’re very good at drafting contracts so that I did not get burned in the process. To be honest, I don’t know how I attract these people. But I seem to do that. It’s like my new venture, BetterKidsTV.com. I had an idea that I wanted to teach kids about money and entrepreneurship. I knew one thing; it needed to be entertaining because kids like to be entertained. And that was about all I really knew. Then off I went and I told people I’ve got this idea and now, I’m beginning to assemble a team of really excellent people. Not only people who can produce great products, but also on internet marketing side of it, and just general support. Again, I’m assembling a team of people around me who are far more skilled in their areas than I am and that’s ultimately what will make BetterKidsTV.com a successful business and a successful product.