Teresa Joyce...Debt-Free Inventing...Part III Conclusion

Continued From Teresa Joyce...Debt-Free Inventing...Part II...

In my last blog post we learned that Teresa was able to progress forward with her FunctionALL-Linens business with the assistance of her patent agent, David Lewis (see contact info below), who took a professional risk in order to see her succeed. Learning tremendously from this relationship, Teresa was be able to go forward with the belief that many people are willing to help others--she just had to find them.

---------------------------------

Teresa went through perfunctory 'first time around' basic patent filing fees, for which she paid her patent agent $4000. According to Teresa, this was a bargain compared to lawyers she contacted.

All went well as well can be for a legal beginning. Then a couple years later--during which Teresa attended to other facets of her new business--she received news that the USPTO rejected her patent application because it was 'too obvious'.

Heartbroken and frustrated, Teresa could only reflect on how much love and soul she poured into her project.

"The funny thing about the rejection was that I was not even thinking about the money I would have lost on this project," said Teresa. "I was upset because not only are my linens for the everday person, but I saw potential in a future line designed with the physically challenged or hospital patients in mind."

As fury quickly replaced Teresa's sense of defeat, Teresa decided she was going to fight. But for Teresa, asking Dan for more money was out of the question.

Predicting Dan's less than positive reaction for financial replenishment, Teresa knew it was time to get a job--any job that afforded flexible work hours.

"Yes, I was serving burgers for $8 hour even though I had higher level positions in the past," said Teresa. "What can I say?--It was the pits."

Even with her earnings, Teresa was not able to keep up with the patent or legal fees, so she needed to talk with David to ask if he could extend a professional courtesy of breaking the work into payments.

"He knew my project would live or die by his decision," said Teresa, who added that her David politely accommodated her request.

After nine months of paying off her latest fees to counter the patent rejection, Teresa finally received the USPTO approval for her patent application. Unfortunately, this good news came arm in arm with a slew of more expenses.

"Fees started to snowball on me," said Teresa, who added that she also needed to meet payment deadlines.

This is when David, who understood her plight, became her 'angel' as he offered to pay these fees for her in advance.

"I was so touched by his trust and faith, I cried," said Teresa, who admitted to often tearing up when she relaying the story David's generosity to others.

Continuing to repay David for months after, Teresa decided the time came to ramp up for sales, but did not have money to put together a basic website with e-commerce.

This is when I needed to reach out into cyberspace and network," said Teresa. "Imagine, I barely knew how to use a computer, and now I had to network."

Overwhelmed with the challenge, Teresa inadvertently struck gold when she came across ClubENetwork. Rather quickly, Teresa learned how to navigate the website, participate in forum discussions, and how to ask for help. 

Here, Teresa met her webmaster, Renee Michaels, who saw the value and potential of FunctionALL-Linens. Renee agreed to do work up-front with Teresa's commitment to pay her back when her business started to generate revenue.

Crediting more generous individuals who assisted her in all aspects of her business, Teresa secured more financial arrangements like the ones with David and Renee. As a result,Teresa has a thriving business having sold over 800 pieces of the FunctionALL-Linen line.

"Most people like to see other succeed, especially when they can win as well," said Teresa, who is proud to say she kissed debt good-bye. "Thankfully professionals exist that can see beyond the 50-80% up front with a 30 day due balance."

***

--------------------

David Lewis, Certified Patent Agent-- DavidLewisPatentAgent

Renee Michaels, Graphic Designer-- ReneeMichaelsDesign

--------------------

Please stay tuned to my next blog installment to read about Jessica Pohlkamp, inventor of CellySmellys--scented cleansing wipes for personal electronics.

Eva Winger

www.TheInventorChronicles.com

TheInventorChronicles@live.com

follow me on that silly twitter thing @InventorChronic