![]() |
|||||||||||||||||||||||||||
![]() |
It is continually updated to provide you with helpful information, so visit us as often as you like. I think most of us have ideas about new product inventions and how we can make something better. The problem that we encounter is not knowing how to successfully implement our ideas. It's not easy for inventors to find information on how to be successful with a new invention. Many sources of information are from people who never made any money inventing anything - who never manufactured, marketed or licensed new product inventions. The Myth We are led to believe that you patent a new invention - make a prototype - and then sell or license it. It's not that simple. It's like believing the following statement - "To make money in real estate all you do is get a hammer, build a house, and then sell or rent it". Success Rate If you're wondering how all this works - you're not alone - 93% of us are not successful. This doesn't mean that our new product inventions are not good. What it means is that 93% of us don't make any money from our inventions, and most of us lose money. This is because many of us do not fully understand the business of inventions. Having successful new product inventions is not just about the inventions. If it was, we would all be driving gas free cars and using low cost eco-friendly energy, and no one anywhere on the planet would ever be hungry. Not understanding this can result in an inventor being financially ruined one way or the other, or taken advantage of.
Believe me, I know - I've been there as have many others. Success is possible but there is a process to follow and pitfalls to avoid. Good News The good news is that new product inventions are in constant demand by consumers. It's possible for anyone to become very successful with something new or improved. It’s just a matter of knowing the process, what is involved, what works, and what doesn't. Key To Success
The key to your success can be stated in one word - "profits". Companies compete to provide solutions to problems. To provide new invention products or services that are in demand by consumers. They do this for one purpose - to make profits. They need new ideas for this to happen. If they don't and their competition does, they go insolvent. Tools of Success Patent research - inventor logs - market research - patents - business plans - prototypes - copyrights and trademarks, are just tools used by inventors to sell others on the benefits and profitability of their new product inventions.
These tools are like hammers, screwdrivers and saws for a carpenter.
It doesn't matter whether you have created a better mouse trap, a new integrated circuit, an innovative internet protocol technology, a food recipe, an instruction book, a logo design, or a method for doing business. The tools used for success are the same.
The more you understand these tools and how they work for you - how you use them and how profits are made - the better chances you have of making money with your new product inventions. ![]()
|
||||||||||||||||||||||||||