As Thomas A. Edison is known to have said – “invention is 1% inspiration and 99% perspiration.” Today we talk about the perspiration part.
This invention step is usually on the back end of the invention process in the minds of most inventors – but should really be closer to the front end. What are you going to do when you get your patent? How do you get your invention made? Who wants it? Can it sell? What about a license? These questions should really be at least partially answered before you even start on the patent process.
You need help if you don’t know the answers to the above questions – or – you don’t even know where to start looking for the answers. Here is where the perspiration part begins. Lots of research – testing of your idea to see if regular people are interested in your product – and getting a good idea of the cost that the public might be willing to pay for your new gizmo – compared to the cost of making it – are some of the roads to be well-traveled to develop your idea.
Invention help comes in two basic packages. companies that help inventors First – if you have a business mind and an entrepreneurial personality – you may want to build your own company to manufacture and sell your invention yourself. If you have the right talents, the persistence, and oodles of optimism – AND if you have the ability to persuade other people to see the pictures in your mind – you might make it this way.
Second – if the invention help you want is merely someone to buy or license your invention – you may not need all of the entrepreneurial spirit required above. Just remember – either way – you always have to persuade others to see your vision.
All this assumes of course that you are like most people, and you are looking for $millions$ from your fantastic idea. If you are part of the small minority that just wants a piece of paper to frame and put on the wall – go for it. Get your invent help from a patent attorney – get your patent – hang it on the wall and move on. The rest of this page will discuss the invention help for the entrepreneur. companies that help inventors
Invention help in the form of money from investors to support your invention habit – sometimes even from family and friends – almost certainly requires the development of a business plan. A business plan should be considered a necessity for proper development and funding.
Research needs to be done to answer the questions that will undoubtedly asked by any potential investor:
What is your invention (product)?
Who wants it and why (demographics of buying public)?
Where and how will they get it (marketing and distribution)?
How much money is needed and specifically for what (product development, manufacturing, marketing, distribution, business management costs)?
How much does the investor make and when does he get his money back (potential return of investment (“ROI”) and return time frame)?
