"The challenges are 1. getting the strategy right. Most industrial designers would have a tendency to get into too much detail before showing an idea to a company. That can and up wasting huge amounts of time. 2. Believing it can be done. There aren't too many people doing this right now so you have to really go off the beaten path and believe that a successful outcome is ahead of you. 3. Experience is everything when it comes to licensing. making mistakes and learning from them takes a great deal of humility and patience"