Not All Inventors Are Out For Blood

I watched the HBO Documentary, The Inventor: Out for Blood in Silicon Valley. Sad story about how people were scammed out of hundreds of millions by this woman who only had an idea! Common sense should have prevented this catastrophe. This kind of senseless investment was done with no real research into her idea. Yes, it would be a game changer, if it worked. However, the first thing as an investor, one should talk to the current experts in the field, look at the market, ask questions based on what this woman claimed she could do. These kinds of deals make it extremely hard for smaller entrepreneurs like me to find funding due to huge losses by super rich investors on an idea with no real science behind it. Starting with a smaller investment into an idea, check out the advancement first hand and see if it has the potential to grow. It is a shame in this day and time that people that people feel they have to be dishonest to acquire investment. Using unrealist charts and projections to get the money to maybe make it work they should know it will work before asking for investment.

Being a innovator, inventor, and entrepreneur I create things that benefit people in a positive way. I have always been an open book about my inventions, never looking to take advantage of investors, my integrity will not allow it. I use common sense in my developments, backed by scientific proof to launch a product. I ask myself several questions because I don't like fail or be proven wrong. If I can't answer the first 6 questions with a yes, I drop the idea.

1. Is this idea possible, can it be done even though no one has done it before?
2. If someone tried and failed, where did they go wrong?
3. Are there experts in the field of potential product?
4. Can I solve the problem easily?
5. Can I keep cost low using the K.I.S.S. method?
6. Is there a market for the product or service?
7. Should I license or manufacture?
8. Where can I find Funding?

Example; My aerosol ceramics i developed for the dental profession, I knew it would work as I was spraying ceramics from airbrush. If ceramics could be aerosolized it would be a product that would save my time, decrease production time, increase profits and improve dental restorations for patients. I had one of the largest dental manufacturers in the world try to discredit my product and try to destroy me. I had spent the better part of a year traveling across the USA with independent distributors, I was just a guy with a very small company who affected maybe 0.1% of sales of one product the big dental manufacturers produced and sold.

Their salesmen would go into laboratories and tell my customers and their customers if they used my product on their product they would not stand behind their product. I got a lot of phone calls as you can imagine. I told my customers not to worry I would prove my product was a superior product. I contacted Dr. Russell Giordano PhD. material scientist at Boston University. Dr. Giordano tested every dental companies materials. I ask Dr. Giordano to test my product on their products against their similar ceramic applied by hand. Cost $5,000.00 and 6 weeks to test. Results came back as I knew they would, my aerosol ceramic actually improved their products over their similar product!

I sent a email copy of the test report to the VP of the company and called him on the phone. I ask him to read the email of the report from Dr. Giordano, I told him I would hold on while he read the report. When he came back on the line, I said, "Allen, that report clearly proves my product makes your product a better product. So if these conversations between your salesmen and our customers, yours and mine don't cease. We have a problem!" He quickly responded, "No, Phil we don't have a problem I will take care of this immediately!" In three weeks the corporate office in Europe sent me their ceramic powders to create a OEM product to sell under their brand. They became my biggest customer.

I have a real problem with people who speak before they know the truth and facts to be true. The HBO Documentary was a perfect example of letting someone continue to blow smoke and answer questions with questions to avoid the truth. She made friend with influential people and gained credibility through association with powerful and very smart people whom she was able to convince she was telling the truth. All the investors had to do was a little research and not take her for her word. Common sense was something she was able to keep investors from thinking and wanting more concrete evidence the company was sound. If they had signed CDNA agreements they had every right to go into the company and see what was happening.

Inventors should always speak with integrity, honesty, give the investors and customers the truth. Use common sense when you seek to invent or invest in a innovative new product, technology or service.

#investing #truth #disclosure #innovators #inventors #entrepreneur  #business #integrity #truth #designthinking #lawyers  #publicrelations  #doctor #networking #winning #journalism #dentist #medical # physicians #pharmacutical #solutions #urcoolstuff #t-coolk9 #dogs #hypothermia #hunting #workingdogs