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The Intersection Between Innovation and Entrepreneurship with Louis Foreman, Founder and Chief Executive Officer of Enventys

By November 5, 2020

 

Louis ForemanLouis Foreman is the Founder and Chief Executive Officer of Enventys, an integrated product design and engineering firm. He is also the Founder of Edison Nation. Louis graduated from the University of Illinois with a Bachelor of Science degree in Economics. His interest in starting businesses and developing innovative products began while a sophomore with his first company founded in his fraternity room. Over the past 34 years, Louis has created 10 successful start-ups and has been directly responsible for the creation of over 20 others. A prolific inventor, he is the inventor of 10 registered US Patents and his firm is responsible for the development and filing of well over 700 more.

Louis Foreman is a recipient of numerous awards for entrepreneurial achievement. He received the Instructor Achievement Award for his teaching at Central Piedmont Community College and was recognized by the National Museum of Education for his Distinguished Contributions to Education. He has given testimony in support of independent inventors to both the House and the Senate. He served on advisory boards and committees of the SBA, the Intellectual Property Owners Association, and the United States Patent Office to name a few. He was a creator of the Emmy Award-winning show Everyday Edisons and is currently the publisher of Inventors Digest Magazine and author of the best-selling book, The Independent Inventor’s Handbook.

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Here’s a glimpse of what you’ll learn: 

  • How Louis’ creativity began, the first business he started while in college, and what he learned from growing the business
  • Getting started with inventions and dealing with intellectual property
  • Louis talks about working with inventors to help them develop their products
  • What inventors often do wrong when they go out on their own instead of working with a professional
  • Why many inventors fail with their inventions
  • Louis talks about the intersection between innovation and entrepreneurship
  • What inventors need to know about inventions and the 5 questions they should ask themselves before spending any money
  • The role intellectual property plays in the growth of a product-based business
  • How to get in touch with Louis Foreman

In this episode…

Coming up with an idea for a new product is easy; most people can do that. But, following through with that idea—and executing it to create a commercially viable product—is not easy. 

Bringing a product to market is a difficult undertaking and requires a well-orchestrated process. Above all, you have to ensure everything is working together seamlessly: that means the design and engineering, marketing, branding, and web development.

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As an inventor, Louis Foreman believes that you should also ask yourself 5 core questions before getting started on your idea. Why? His answer is simple: to ensure your success and reduce your chance of failure.

In this episode of the Innovations and Breakthroughs Podcast, Louis Foreman, Founder and Chief Executive Officer of Enventys, talks to Rich Goldstein about the intersection between innovation and entrepreneurship. Louis discusses the 5 questions every inventor needs to ask before developing their product, the role of intellectual property in the growth of a product-based business, and why many inventors fail with their inventions.

Resources Mentioned in this episode

Sponsor for this episode…

This episode is brought to you by Goldstein Patent Law, a firm that helps protect inventors’ ideas and products. They have advised and obtained patents for thousands of companies over the past 25 years. So if you’re a company that has a software, product, or design you want protected, you can go to https://goldsteinpatentlaw.com/. They have amazing free resources for learning more about the patent process. 

You can email their team at [email protected] to explore if it’s a match to work together. Rich Goldstein has also written a book for the American Bar Association that explains in plain English how patents work, which is called ‘The ABA Consumer Guide to Obtaining a Patent.’