Diamond Author
Not long ago, I was talking with an inventor, innovator, and entrepreneur extraordinaire, and he had inquired as to whether or not I would invest in his invention. The answer in the end turned out to be no, as he didn't have any proof of concept or prototype, no math to prove it could work from an engineering standpoint, only a couple of drawings, a CAD CAM rendering, and his word that he was sure it would work.
Indeed, I told him, I'd be willing to assist him in putting together a business plan and help him move his project along, but my money is real money, earned the hard way, and I've been around the block a time or two, not so easily moved by the passion without the proof.
You see, the good thing about me is that I know I can do anything, and that I study everything prior to doing it, and I know what I don't know. Since, I have limited knowledge, my preliminary answer was "no" but that does not mean that I am a "never" type of guy. It's just I run through about 100 potential deals per month, sometimes more, most of them decent, but without a team behind me following up, I have to make quick decisions and follow my gut. See how that is necessary?
Remember that venture capitalists are very similar by nature, they have to be. For the inventor or innovator who is "all in" and the force behind something, he is the jockey you bet on, not necessarily the fast horse or the track he rides on.
Industries experience sector rotations, gun sales are up, so too are permits, so it's a nice track to be on, and if your invention is accepted by the crowds, and if you put your focus too it, it could win. Now then, based on all the other ideas out there, will it be a financial winner?
Totally different game than asking the question will concealed weapon permit holders or first responders want it and pay for it? The best idea (horse) in the world can fail if the track is wrong or the jockey is a newbie to the track, horse, or horse racing in general. And the worst idea can be a winner in the market with the best marketing, angelical inventor who believes, along with a team that has the force behind them with the best trainers, dieticians, breeders, etc. See that point.
About this Author
Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. Lance Winslow hopes you've enjoyed today's discussion and topic. http://www.WorldThinkTank.net. Have an important subject to discuss, contact Lance Winslow.
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