Building a Better Mouse Trap: How to Succeed as an Entrepreneur

This week on IPWatchdog Unleashed I had the opportunity to speak with my good friend Louis Foreman. Louis is the Chief Executive Officer of Enventys, which is a full-service product launch company that handles all aspects of product development, crowdfunding and ecommerce marketing. In addition to Enventys, Louis is a prolific inventor himself, he is also an Assistant Professor of Entrepreneurship at Wake Forest University, and as if that isn't already enough, Louis was the creator of the Emmy award-winning PBS TV show Everyday Edison that so many people in the community remember.  I've counted Louis as a friend for close to 20 years, so it was good to sit down for a conversation, even if that conversation took place remotely.

As our conversation unfolded it became clear pretty quickly that the focus would be on entrepreneurship, particularly the trials and tribulations of entrepreneurs looking to dive into the startup world with an innovative product. 

“There's three P's that I like to share with all entrepreneurs and all inventors,” Foreman said. “The first P is passion. If you're not passionate about what you're doing, find something else… The second P is patience. Inventors and entrepreneurs don't have a whole lot of it, but you need to because it's going to take longer than you expect. You're not going to become a billionaire overnight. It's going to take longer than what you expect to just be ready for the long haul. And the third P is persistence because life is going to throw all sorts of obstacles in front of you. There's going to be all these roadblocks or detours, and you're going to question whether or not you should even go forward… But if you really believe in what you're doing, you'll eventually succeed.”

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