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1. Inventor Vs
Entrepreneur
(...And How to
be Both!)
By Karen Waksman
Founder, Retail MBA

2. A lot of inventors come up
with ideas. Maybe you don’t
have a lot of money but
you’re very creative and
you’re trying to bring your
product to the world.

3. The problem with an
inventor who’s handing over
their business to somebody
else is that they’re not
taking responsibility for the
product itself and they tend
to be less than 1%
successful typically.

4. So what I’d say to you is
that if you’re going to go
and try to hand off your
business to a third party,
you’re going to have a very
difficult time...

5. people who sit with their product
stare at their product
commit to their product
choose to sell their product even though they
hate selling
choose to figure what they’re going to do
to tweak the product if the product doesn’t sell
choose to not give up until that product
converts into making money
The person who is going to make money:

6. You have this idea and it deserves to be in the
world and only you can take it to the next level.

7. You’re going to say “I will
not stop until I convert into
making money.” And that’s the
person who’s going
to become the entrepreneur.
So question number one:
Are you willing to do that?

8. Some people just say, "Well I just want to license my
idea or write my idea to a company and have them go
produce it." But maybe they don’t understand what that
looks like and they lose a lot of opportunity and revenue.

9. When you write your idea to a third-party company
you get a
percentage of
every unit they
sell of your
product
your product
could go
nowhere
OR

10. You have to really
understand the
company and what
they’re actually going
to do to ensure
success with your
product.

11. So at the end of the day, the difference of
an inventor and entrepreneur is someone
who is not going to quit and don’t hand
away all your business right away upfront.

12. If you like to learn more about why you need to go after
retail stores, visit our site:
http://retailmba.com