Article 48: Step Out or Miss Out!
Have you ever heard the saying, “Step Out or Miss Out”? Well unless you travel in my inner circle the odds of those exact words landing on your ears is highly unlikely but similar ones have been said for years. Life is all about opportunities. They are either coming at you or passing you by. The trick is to recognize them before its too late and you end up missing out.
No matter what the economic circumstances people will always work towards securing a good life for themselves with some spending their time creating new ideas for products and services. We have all heard these words, “Why didn’t I think of that?”, and more times than not we all shrug our shoulders and say, “I don’t know”. The truth of the matter is you need to have an inquisitive, creative, inventive side to you to come up with these new products. Most of us are so busy with the day to day that we very rarely give ourselves time to forget about the day’s events and focus on the possibilities of new inventions or improvements to existing products We limit our minds creative influence and usually only let it out when it is convenient.
Not to worry if you are like the majority and inventing isn’t your thing because there are many, many people who do possess that talent but not necessarily the gifts you may have such as; marketing, organizing, detail oriented, etc. Here is where it gets interesting. It is my Reese’s peanut butter cup analogy. Both groups work well by themselves but when you combine the forces of a great idea with the practical side of how to put it in play then you have birthed something that has the potential of becoming the hottest new product.
The problem is not necessarily with the creators because typically they know what they do best, create/invent, and what they need help with, which is everything else. The issue comes when these great minds come to us for help with project advancement and our first comment is, “I’ll do it for $ amount”. Those seeming less innocent and protective words have now created a roadblock and have set you up for membership in the “I Missed Out” club. I know we have to be prudent about which ideas we back but 99% of the time when I hear of deals not going through its because one side wants financial assurance that they will be compensated no matter what happens. They never want to take a step back, evaluate and then take a chance by investing their time/talent into a project in hope that it will succeed.
Granted many times these creative types are just looking for funding, which that in itself should be a red flag, but not always. I have met people who have done the heavy lifting of a project. They have come up with the idea, created a prototype, done basic research and test marketing and now just need someone to come in and work out the details on the best way to market, promote and ultimately produce the item. Here is where most people miss it. They want compensation before they sign on and in reality there is no money available. The inventor typically just has the idea and any cash he does have is probably tied up with other inventions or business ventures. So now you have a crossroad. Do you go left and keep on as you did the day before or go right and add the invention to your project list and work it further down the road? The vast majority of people, sad to say, go left and then when the sun comes up the next morning wonders why things haven’t changed for them.
Now I’m not suggesting that we get these little inventor guys going down a road to success and we never get fairly compensated but rather that we do a bit of ground work to see if this is a worthwhile project, without compensation, and once we begin to make head way then we discuss earning split with the creator. By that time both sides should be able to see the value each one brings along with that glimmer of light at the end of the tunnel. Once that has happened then it is time to bring the legal eagles in and get documents signed so that once the cash starts flowing - everyone wins.
Realize that many of these test propositions will never end up at the signed document stage because things happen, circumstances change and the unforeseen surfaces. However, no matter if that happens or not you are always better off because of the time you took to check it out. Sure you lost a valuable commodity, time, but the time you spent gathering information, meeting new people and companies is also very valuable. It opened your mind up to new possibilities and gave you a fresh outlook. This project may not be the one but if you never step out and see then you are guaranteed to miss out 100% of the time. Not just on this project but you will have conditioned yourself to become jaded and other potentially good/prosperous projects will either never make it to your door or your door will always be in “lock down” mode.
New products/services are created every day and it is those who choose to take a chance that ultimately end up on top. Start out small. Pick a project which will allow you to check it out by investing your time and talent. Each time you choose to help someone establish their dreams you are setting yourself up to accomplish yours.
Just know that sometimes you need to Step Out or Miss Out!
Jeffrey A. Mohr – Founder