President's Corner

President's Corner

The Board of Directors thanks Lydia Woods for a fabulous presentation to the attendees of the July 12th meeting at LIGI TOOL & ENGINEERING, INC. Lydia is inspiring, energetic and enduring in her efforts. The Board should have her speak to the membership once a year to reinforce the valuable information she offers.

Lydia began her invent-to-market journey at her back yard pool. One of her daughters wanted to float on the water in the sunlight. The TARP KLIP® was born! Lydia offered many highlights of the journey in her presentation. The points I want to stress to every inventor are the following:

Validate the idea and determine if already patented.
Create a prototype and validate functionality of materials.
Network with the inventing community to obtain leads, ideas, event information, and process knowledge.
Choose your process partners based on your needs (participation, contract, long-term) in the relationship.
Attend tradeshows and other events that offer product exposure, networking and customer validation.
Advertise/promote through website, finder's fee, press release, telephone contact, mass mailings and 60-second CD presentation.
Free yourself of tasks that others can do more effectively (fulfillment services).
Maintain your integrity in all dealings to keep your business strong.
Be open to suggestions for follow-on products.

Lydia Woods' path to success has parallels to the journey described by John Hobbs in the June meeting. The inventor has to do the research to determine the customer base, wholesale price, raw materials, product exposure and so on. These are key components of your business plan, and requirements to obtain funding or license your product to others. As Lydia and John explained, the timeline of success is counted in years. There is no definitive path to success. It requires endurance, focus, and long-term commitment.

Also, I want to comment on Lydia's presentation table. She had a special photo holder that gave a slideshow of the product in use. There were product samples, posters, and publications promoting her product. She used handwritten notes in large print to keep her focused on what she wanted to say. She had the friendly faces of her family in the audience for encouragement. Lydia recently acquired a partner to upgrade her website and film her presentation for future product promotion. Always focused on product success, Lydia is the epitome of what we encourage in all inventors. Thank you, Lydia Woods!

The Board of Directors wants to remind members and visitors that the August meeting will be held at the Broward County Main Library. Eileen Fischlschweiger, the Patent and Trademark Depository Library (PTDL) librarian will be lecturing on the online electronic filing system for patents, as well as other electronic enhancements affecting patenting. This is a special presentation well worth your attendance.

Regards,

Albert Newman