Paul Sorenson is an experienced business professional with a demonstrated history of working sales, product development and entrepreneurship. He posseses strong business development professional skilled in sales, patent law, management, business development, and business coaching . Paul Sorenson has successfully licensed multiple products including the same spatula idea into multiple industries.
Paul Sorenson…Interview Exerpt
Paul Sorenson is also an InventRight Coach and former student and our guest on Episode 119 . This episode is the first in a 2-part series. The followin is an exerpt from this interview…the first question I asked:
Robert Bear: Paul Sorensen, I’d like to start off by asking you to take us through how you came up with the idea, and how you came to license your spatula idea twice.
Paul Sorenson: Alright, yeah. So I joined inventRight, and I had to come up with a list of ideas. So I was in my office making my list and my buddy walked in and asked me what I was doing. And I told him, he’s like, Oh my gosh, I got this idea. Then he told me about a need in the industry to clean up the large number 10 cans, because he’s been in restaurants his whole life. So I threw it on the list and went on with my day and got on my call.
Good Idea
My coach went through and said, “hey, that one would probably be a good one”. So I went ahead and develop the product out. And as I was working on it, and showing everybody, everybody would say, You should do a little soup, can version too. We’re like, wow, this is so much work just to get the large industrial size. So we just focused on that and got that done and got a licensing deal on that. And then shortly after, everybody kept saying the same thing, You’ve got to do a little soup can version. And so we thought, what the heck. We had success with the first one. So I jumped in and put some marketing material together and started going and lo and behold, it was a good idea in the consumer market as well.
The Perfect 10 Spatula
So we have the large, perfect 10 spatula in the restaurant industry. And then we have the little one-twist can spatula that we licensed for, you know, the everyday kitchen use and both of them are selling good and have good reviews. So it’s kind of cool to take the same concept and be able to apply it to two different industries. And even better that they’re not conflicting. My licensee for the big one, they couldn’t care less because that will never steal a sell from them, if I sell one to somebody they use in the kitchen, and vice versa. And that’s what made it so you can license to multiple industries is when there’s not a competing…when they don’t become competition for each other. So, it worked out really great. It’s been really fun.
Other Questions we asked Paul
Why did you join inventRight?
Why did you become an inventRight coach?
What characteristics should an inventRight student possess?
What do you do when a student is stubborn about their idea?
Coming Soon
Episode 118…Our Interview with Paul Sorenson, Part 1 is Coming Soon on Invention Stories on YouTube
inventRight: Master the art of licensing
The inventRight Philosophy
The inventRight philosophy rests on the following 10 step process.
1. Study the marketplace is
2. Invent for the marketplace
3. Evaluate your ideas
4. Prototype your ideas
5. Your one sentence benefit statement
6. Design your marketing material
7. Protect your ideas
8. Getting in to inventor-friendly companies
9. Negotiating a great contract
10. Moving on to your next great idea
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