We are different. We do not follow the crowd...
We believe in…
Building with profit
Income from customers
Evidence based decisions
Optimising cost, time and emotional energy
We disagree with…
Building with investors’ money
Income from investors
Stress and confusion
Wasting money, time and emotional energy
That means we get stuff done. We save money.
We are fast and nimble…
We just happen to call it the “Lean Commercialisation Program”
It’s a process to convert an invention into an income stream…
Let's answer your questions about the program
The aim of the Lean Commercialisation Program is to empower the participant to discover and demonstrate (with evidence) that their invention has real value. Through on-line education modules we provide insight and then work with the client to apply the concepts to their innovation. We aim to ensure participants are confident that they would sell their first batch of product/service. This will provide an income and provide funding to pay to protect their idea and further increase sales.
We are all asked this question all the time.
And we know that no one can look at an idea to see if it would work. It takes a lot more… knowledge of the finance, market place, competition, customer needs, regulation, etc. During the Learn Stage we concentrate on these elements building the client’s confidence in the their ability to take their invention to license, franchise, or a full company.
Further, sometimes discoveries made during the Learn Stage feed back into improvements in the patent as more is found out about the problems customers are facing.
This happened to Nathan who initially came to us searching for funding. During the Learn Stage he realised that there were too many competitors. Initially despondent, Nathan had a brain wave. All he had to do was make a small change. And, in his words, “I was now in an area where there are few, if any, credible competitors. I had found the holy-grail: ‘clear water’ with customers!” As a result he had not only something unique, but income from his first customer.
That’s our ultimate goal – validation of our invention and money in one go! Success.
There are four key stages in the LEAN Commercialisation Program (Learn, Establish, Advance, Normalise) as is illustrated by this diagram:
The Learn Stage covers the key things you need to know in order to decide if your idea is worth continuing with. You will cover:
- Customer Discovery – Are there enough people with enough money who need your product?
- IP Strategy – Has anyone done this before (or patented this idea before)? How can you stop people copying you?
- Financials – Can you sell the solution for enough to cover all costs and make a healthy profit? Will you need to raise funding? What grants are available and would investors be interested?
- Competition – What are your customers currently doing to solve this problem? How much better are you? 10%, 2x or 10x?
- Timeline – How long will it take to generate initial income? What are your long term goals? Where do you want to be in ten years time?
- Partners – Who can help you get to your goal? Who will be the best suppliers? Should you head to China for manufacture? Where would you get the App built?
- Once you have completed the Lean Stage you make a decision: Stop or continue to the Establish Stage.
Note: we have not actually built a product/service yet! We are collecting evidence and insights about the important aspects of our solution. This means we don’t need to change it later. Delaying product build can save you $100,000 or more in rebuild/change fees. We’ve seen too many people pay designers to build a product and discover there is no-one to buy it because they missed one critical insight.
In the Establish Stage we create a company, build a website, price the product/service, start building it or look to license or franchise the idea. Our primary aim is to start generating some income to prove all the assumptions and research of the Learn Stage.
Assuming we decide to continue building the company, A is all about Advancing the product, increasing sales and profit and reducing costs.
The last stage is “Normalise” where you get to decide if you want to sell it, hire a manager or run it yourself. Your choice.
Getting any part of this process can make a major impact on the business.
Take Pricing for example. For Nathan we increased the price and he won his first contract which meant he didn’t need to go looking for funding. As he said after the deal was done, “The value to the customer was much higher than we realised. By charging too little we were trivialising our significant expertise and doing both us and our solution a dis-service.” So true.
We advised Invention Evaluator on price – from $149 to $990. He decided to go for $450. But that was enough. He received an offer for his company from the UK and sold it. The first thing they did – increase the price to $995 USD!
We work within the constraints of the client. That means the Lean Commercialisation Program can be done in the evenings, weekends or even full time. The principles are the same. The process is the same. We go at the client’s speed, not the speed dictated by anyone else.
As Petro explained to me recently, this was one of the biggest benefits: “I focused on what was needed right now and made better use of my limited time in the evenings. Brian explained the Business Model Canvas and Steady State Plan which gave me instant clarity, confidence and set goals for future actions. In the end, I never did write a formal business plan. As Brian pointed out, who was going to read it?”
The program works where ever the client is – Perth, Brisbane, Hobart, and of course Sydney and Melbourne – as long as the client has an internet connection. We use high qualify conferencing software to share documents and update them in real time.
Some words our clients use to describe what they experience include:
Inspiring, challenging, empowering, light-bulb moments.
This program is a unique combination of online training/learning, software, facilitation and mentoring. There are no magic pills, only well tried, tested and simple tools that you can learn and apply to your idea. You will learn techniques and we will work with you to apply them to your idea. When you’ve seen this done once, you can do it for your next idea without us!
You will spend time face-to-face (in person or over Zoom) with our commercialisation mentor. He will assign you online learning modules which contain the best teaching resources from around the world. Once you have learnt the principles, both you and the mentor will work together applying them to your idea. This will generate more work and modules to review. And during the Learn Stage, the process will continue to cover the core elements required for you to be able to make an informed decision about moving to the Establish Stage.
During the Learn Stage, you’ll be generating lots of information. We’ve seen entrepreneurs struggle to manage it all. So we’ve written some software that will help you manage the process and grow with you. To begin with it’ll manage your information, then it’ll become a simple website, then it will become a communications tool (so you can email anyone within your growing database), next it will be an eCommerce platform to sell your product/service. No need to change systems part way though – it’s all in one place. And it’s unique. No-one else has it – except you.
(If you are interested in the technical details, it’s all industry standard – WordPress, WooCommerce, Zero BS CRM, SLL, Responsive just to mention a few!)
No. They don’t need a patent.
If your client doesn’t have a patent to protect their invention, by the end of the first phase of the program they’ll know whether they need one. We don’t discuss the invention with anyone and we sign a Non-Disclosure Agreement with them so they are completely protected. Of course, we always refer them back to you to get the IP Strategy implemented.
There are many reasons you want your client to take part in the Lean Commercialisation Program. These are some we’ve heard from Patent Attornies:
- Time. Reduces the amount of time I need to spend telling clients why they should do customer validation.
- Improvement. Real potential customer feedback can improve the quality of the patent as more potential uses and competitors are discovered and investigated.
- Expertise. I’m an expert in patent applications – not in commercialisation. So having a pathway to a group of people who can help my clients commercialise their invention takes me out of the loop.
- Income. The focus on income means that my client should be in a position to maintain their application through Australia and the rest of the world.
We will provide your client with free access to an online learning module and spend an hour with them by phone, zoom or face-to-face. After the complimentary hour session your client will know what to expect and how to progress.
With their permission, we’ll keep you up to date with progress.
What's the next step?
Please ask your client to apply for the Lean Commercialisation Program and we’ll provide them with a complimentary online module and 60 minute mentoring session to get them started on their way. When we speak to them we’ll ask where they heard about us so that (with their permission) we can let you know the progress that they are making.
However, due to the high volume and quality of support that we provide or clients with, this program is limited to two people each month… and the patent process waits for no-one, so start the application process now…
If you’d like some material to send to your clients, please complete the following form and we’ll send you a PDF and appropriate links.