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How to License Your Million Dollar Idea: Cash In On Your Inventions, New Product Ideas, Software, Web Business Ideas, And More, Third Edition by Harvey Reese

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CHAPTER 9

Listening to Successful Inventors

The winners in life think constantly in terms of I can, I Will, and I am. Losers, on the other hand, concentrate their waking thoughts on what they should have or would have done, or what they can’t do.

—Dennis Waitley

The inventors I interviewed for my book Amazing Secrets of Millionaire Inventors are a mixed bag—young and old, male and female—with only a few things in common. The first similarity, of course, is that they all had original ideas; and the second is that they all decided to do something about it. The fact that they all persevered and accomplished something despite setbacks and mistakes is of course to be applauded, but what impresses me the most is that they took their ideas under their arms and went out to meet the world. None of these folks hid behind sending letters or opening a website: They got in their cars or planes or trains and went out to meet whomever they had to. Were they nervous? Probably. But so what? Being nervous at the outset makes victory that much sweeter. As author Katherine Paterson noted, “To fear is one thing. To let fear grab you by the tail and swing you around is another.”

I asked them all individually what they’d like to pass on to other inventors. What follows are a few of the more common bits of advice.

MAKE SURE YOU REALLY HAVE SOMETHING TO LICENSE BEFORE YOU TRY TO DO IT

Many of these folks, having had no business experience, were unprepared for what it was that they were expected to bring ...

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