All inventors and inventions travel a common road. It is the same journey for all of us. Our hope is that some will be better prepared for the trip than others.
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The major obstacle for inventors is not whether their inventions are unique, useful, novel or potentially popular. It is a lack of agreement among manufacturers, distributors, retailers and investors as to whether an invention will make money.
For any invention to exist - to be available to others - it must be commercially viable. It must make money for the participants and the more money it makes - the more viable and available it becomes.
No matter what the invention - how beneficial it may be or how altruistic the inventor - there must be a profit realized for it to exist. This may not seem right but that is the reality of economics and there are no exceptions - even if it appears that exceptions may exist.
A contributing factor for why 93% of patents never make any money is the failure to thoroughly research the profitability of the inventions.
This means 7% of patented inventions succeed because they follow a profitable business model.
He was ranked by Life Magazine as the most important person in the last 1000 years.
He has been called the fifteenth greatest American and the thirty-fifth most influential figure in history.
National Inventor's Day (February 11) occurs on the anniversary of his birthday and he was a major advocate of the profit model for inventors and inventions -
"Anything that won't sell, I don't want to invent. It's sale is proof of utility, and utility is success."
"My main purpose in life is to make enough money to create ever more inventions."
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