The Other Road To $uccess
Every successful invention follows the same path to success. First, the inventor must identify a commercially viable need or want by making sure that the market is large enough to attain success. Then, they must develop the idea into a commercially viable product. This takes into consideration the cost of manufacturing, customer appeal, how well it functions over its’ competition, all the overhead expenses, leading to a competitive price.
Once this is achieved, the product is ready to launch. Now the roads start to branch off. The inventor might choose to license the invention or sell it out right. They might manufacture it and sell it on a website, listing sites, through stores or directly to the consumer.
Last month, we learned about how an inventor successfully licensed her inventions. This month, we have an inventor who took the other road to success.
Try to imagine a time when credit cards were rare. They actually used the imprint of the card on a packet of paper which included carbon paper to pay a bill. Then, magnetic readers changed the world. However, they were bulky and when the reader needed to be cleaned, they had to send it back to the factory.
Stanley Eyler saw these drawbacks as an opportunity and seized the day! He created the perfect cleaning device which he turned into a successful business that held its’ place in the industry for many years. Then saw another branch of a road coming his way and sold the business.
I am sure that every single inventor out there would Love to have the $uccess that Stanley had. If you are one of them, make sure that you tune into his presentation on 10/8/22 at 1:00 pm eastern to hear his wonderful and insightful tale of how he did it. I found it incredibly interesting. So you can get started down your own road to success.
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