He expects that about 70% of the innovations that come out of the lab will strengthen Ogio's gear-bag line for itself and its big-company partners. The other 30%? Who knows. Wunderli imagines a variety of outdoor and lifestyle products that will depart entirely from bags. One really far-out idea in development is a "NASCAR-looking" chair for kids. And Wunderli foresees new patentable features and products for Callaway. Other big companies, including $2-billion-plus toolmaker Snap-on, have already expressed interest in what comes out of the lab.
In the end, these entrepreneurs-slash-inventors get to do what they love -- dream up ideas all day long and turn some of them into gold. They're having such a good time, they don't want it to end. Gregg Latterman could develop new bands forever. "My thing is, you take the time to make it perfect, as good a record as you can," he says. "I've always been long-term. I wanted to work with people I like, make great records, and sell a lot."
Cashing out may be the eventual goal, but there's no hurry. Ogio, for its part, has no plans to sell to Callaway or anyone else. "We want to stay independent," says Wunderli. "We're having too much fun."
Susan Greco is a senior writer at Inc. Elaine Appleton Grant is a senior editor.
Almost Famous: The Dynamic Bra and Other Woes
Consider the predicament of Michael W. Boehm. No one believes he's the man behind the best-selling George Foreman Grill. After all, Boehm's invention-on-demand company, called Intellection, is tiny -- just Boehm and his daughter working in a cramped office in Batavia, Ill. And then there's the fact that Boehm hardly resembles the beefy boxer whose mug adorns every box of the 14 million grills sold by Salton. When Boehm takes credit for the grill in meetings with potential corporate customers, they chuckle. "They don't believe I invented it," he says. Then he pulls out the patent papers.
As it turns out, Boehm not only created the grill familiar to late-night infomercial watchers but also coengineered the prototype and developed a business plan for how to sell it. Salton bought the grill in 1995 after Boehm won Foreman's endorsement.
Then there are the troubles of Invent Resources Inc., in Lexington, Mass., another invention firm for hire. For all of its four partners' advanced degrees and breakthrough commercial successes, they still must rely on champions within large companies to ensure that the new products they develop actually see the light of day.
The partners tick off some of their almost-famous ideas. There was the Dynamic Bra (don't ask), which they explored for Victoria's Secret only to see the concept go, well, bust. The fate of their Silent Pencil Sharpener is an equally sad tale. After spending six months developing a prototype for Hunt Corp. that was so quiet, it made regular electric pencil sharpeners sound like thunder, Invent's partners got bad news. "A new marketing manager decided the company didn't need a silent pencil sharpener," says Invent vice-president Ze'ev Hed, who personally holds 42 patents. "That happens a lot."
What do you do then? Well, you can always shop for another sugar daddy. Boehm is developing an improved version of the old Foreman grill. Only this time, he says, Salton isn't interested. Ostensibly, the follow-on could hurt sales of the original. "People in corporate situations, perhaps not wrongly, want to keep risk low and profits high," Boehm says. So he will likely take his new product to another large company. And so goes another day in the life of the innovator for hire. --Susan Greco
Go to www.inc.com/keyword/relationship to learn how to manage an R&D relationship with a large corporation. To see the previous two installments of Inc's three-part series "The Innovation Factor," go to www.inc.com/keyword/innovationfactor.
They include:
August: Innovation and Organizations
In Part I, we focus on continually inventing organizations, companies designed to churn out ideas. We feature the "Innovation 50," a list of companies that have filed at least 30 patents in recent years.
September: Innovation and Leadership
Part II looks at innovation through the eyes of CEOs. What sort of people deserve to be called "innovators"? How do they operate? Where do they get their ideas? Do you have what it takes to be part of the club?
The Innovation Factor: Part III
Innovation, We Trust
Creation Nation
A Brief History of Innovation
Ordinary People, Extraordinary Creativity
Please E-mail your comments to editors@inc.com.
