Reason only 1 in 600 patents are profitable
Warren Wilson, a successful inventor joins Enterprise Radio to share his secrets to successful inventing with you & the reason only 1 in 600 patents are profitable.
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Listen to interview with host Eric Dye & guest Warren Wilson discuss the following:
- What is the real reason only 1 in 600 patents are ever profitable?
- What was your biggest failure, and what did you learn from it?
- How did you come up with the idea for BetterBlocks?
- What was one of the keys to your success?
- So you have a great idea or invention……………what now?
- How do you come up with ideas for inventions?
My inventing story started in my backyard shed. I had idea for a children’s toy – BetterBlocks – which, to my surprise, went on to become a $45 million business! Commercially-speaking it was my biggest shot. 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 a failure who got lucky? Looking back, I guess I was all those things plus some………… But what was clearly shown to me was the creative process of “inventing” is a powerful process, which, when combined with work and education, results in abundance in any area that it is applied to!
I have experienced the highs of creating a $45m business to the lows of being bankrupt! Both experiences and all the ones in the middle have taught me great lessons in life.
Life for me has been an adventure. When I was quite young my father was permanently incapacitated with a stroke and soon after my mother passed away. One of the benefits to me was I grew up through my teenage years with out a lot of interference. I could make my own path in life. However one of the gifts parents can give their children, the gift of experience and wisdom I sorely missed out on but in saying that the encouraging of my creativity, I received their support in spades.
Now, what I really enjoy doing is helping anyone who has an idea bring it to life in whatever way I can.
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