So many people have amazing ideas but don't know how to get it from idea to reality. First of all passion, drive and above all perseverance are needed by the wine barrel full! You will drink the wine believe me:) The minute you come up with your idea find a great patent lawyer to find out if your idea is already out there, or has a patent on it. Keep in mind that this is a hurry up and wait process and will be worth your time in the end. Once you get the all clear, you can start!
Next you will need a prototype made, either by someone else or if you are handy and can do it yourself then hats off to you. While you are in this phase, Do Not tell anyone about your amazing idea or you risk it being stolen. Once the patent office gives you the "patent pending" stamp then your next step is Family and Friends approval. Our first prototype of Kickspike was a golf shoe with retractible metal spikes. We called her "Old Betsy" and Darrell built it himself in a garage with nails for spikes.
Getting proper feedback about your product or idea is critical to moving forward. If it is a hit then keep moving forward and create a business plan to move into manufacturing or licensing your product. Apply to be on Dragons Den or Shark Tank and write off to blogs that feature new and innovative products. We were the Dragons Dens first ever Million Dollar deal. We got all 5 Dragons for 30% for 1 Million! ![IMG_4650.jpg]
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We were so naive in thinking that was it, that we had made it! You must remember that patience is the number one key in bringing your idea to fruition. We were so green, only 7months into Kickspike when we appeared on Dragons Den. When the show aired we really gained traction and all kinds of media wanted a story about us and Kickspike. Then a knock at our door changed everything! A group of our neighbors got together and offered us 10% for 1 Million. Needless to say we got out of our deal with the Dragons on a technicality and went with this new group. More is never better! There were too many cooks in the kitchen who did not agree about the direction of Kickspike.
Next piece of advice...at some point if you bring on shareholders into your company, and your idea is good, they will most likely attempt to take over your company. Beware of this and get your lawyer to write a shareholders agreement that will protect you and your idea.
Fast forward a few years to today and we are a solid company with only one other shareholder and an amazing product with 4 patents worldwide. We have appeared on Dragons Den 4 times for updates and to help others navigate the crazy waters of entrepreneurship.
