Consultation / Mentoring
You do the footwork and perform most of the same things we would do in Phases I through III, under the direction of Ron Docie, Sr., President, Docie Marketing. You can use The Inventor’s Bible as a complete how-to guide to go step-by-step through the phases.
Each week or two consult briefly with Mr. Docie to discuss your findings and receive detailed instruction about how to proceed next. This leads you directly to Docie Development’s negotiation services where Mr. Docie helps complete any perspective deals.
Cost: Hourly rate, budget between $500 and $2,500 or so.
Do It Yourself
In the event you do not have the financial resources to hire Docie Marketing for this market research, you may be able to do so on your own, and Docie Marketing can provide assistance with this as well. The book, The Inventors Bible, by Ronald L. Docie, Sr. is a complete how-to guide to marketing and licensing your invention. It leads you step-by-step through the same market research Phases that are performed by Docie Marketing. If this is something you have the time to do and feel qualified, you may be able to effectively achieve all the research necessary to get your invention to the stage of negotiation.
An additional service offered by Docie Marketing is mentoring through consultation. This works most efficiently when you use The Inventors Bible as a guide. In this event, you would essentially be performing the leg work under the guidance of Mr. Docie. This is quite an economical way to go about this because a little bit of consultation goes a long way, for example, a small retainer may last for a few months. You would perform market research on your own and report the findings to Mr. Docie. Mr. Docie would consider your findings and advise as to the next step for you to take. This would entail, for example, a 15 to 20 minute conversation once or twice per month. Before you know it, you and Mr. Docie will both be familiar with your invention’s market potential and the associated barriers. From this a strategy can be developed to the point that you may then retain the services of Docie Development. In this way your expenses and risks are minimal and you still have the opportunity to retain Docie Development for final negotiations with third party companies.
Yet another alternative is to simply take the advice found in The Inventors Bible and perform this process on your own, submitting your invention to companies that seem appropriate and fielding offers from them. This is usually easier said than done, however, certainly not impossible. Much depends on your expertise and comfort level. You may be comfortable doing certain in-field market research and interviewing, but not be as effective over the telephone. Likewise, your telephone skills may shine, however, you may be weak in the negotiation phase when a deal must be finalized. Docie Marketing can help you evaluate your own strengths and weaknesses and work with you to help fill in the gaps, whether it be for a fee, for commission-only, advice through The Inventors Bible, or consultation. We tailor our service to meet your needs.