Sometimes it just nice to get validation. Someone from the outside to let you know you are on the right track.
Last night I spoke to a gentleman who’s the CEO of a an up an coming brand of tool accessories. I sent the company an e-mail a week ago pitching one of my ideas. Yes, I eat my own dog food. I tell people to pitch their ideas to companies with the intent to license the IP. That is what I did.
I contacted 17 companies in the tool belt industry. Not a good sign, 17 companies! A fragmented market with a lot of players. Hard to strike a deal with one that will generate large sales. The big boys like Stanley Works have you sign a non-non-disclosure agreement. Basically you have ZERO protection. This is an instance where you should have a PPA.
This was the ONLY company to get back to me. I was a bit discouraged. I spoke to this entrepreneur CEO for about 15 minutes. I was so impressed that he wanted to speak with me for so long. I soon learned we are kindred spirits. He started out as an engineer working for IBM, got his MBA, and started his own company. Along the way he ran a IT company during the internet bubble and even a restaurant. He’s an immigrant from the Caribbean and his story is quite remarkable. He’s now the CEO of a company that he intends to build the brand to be on par with DeWalt. .
In the short time we spoke, he was able to see what I was about. He said (paraphrasing), “I can tell that you have a passion for what you do.You don’t just have one product you are peddling, you have a vision for your company.” WOW, yes I am passionate and I sure have a vision for the future.
My challenge now it to keep at it and remain patient. It was nice to hear from this gentleman that he saw in me what I believe in my heart. What an inspiration! It was like an early Christmas present.
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