Getting investors for your invention, like any other investment, is about marketing an opportunity. Marketing the opportunity is not only about the invention - but about the inventor.
Any investment involves establishing a relationship. Investors need to know what it is like to work with you.
A business plan is a tool which not only establishes your plan to make money but it tells investors about you.
An investor must believe you are capable of marketing your invention.
It is the view of most inventors that their product is needed and wanted. You have to convince an investor of this assumption and show how you are capable of making it profitable.
Investors
Potential investors for your invention may also have strategic reasons to invest. They may have an interest in the field of your invention or have involvement in a business that relates to your invention.Investors can be anyone who is capable of providing the resources you require to help profitably market your invention.
Investors could be anyone you believe would benefit from being involved and you are confident you can convince them of the merits of your invention.
The inventors of Trivial Pursuit required a lot of graphic design work for their board game. They did not have the funds available, so they approached a graphic designer as a potential investor.
The idea was to give a percentage, or share, in their invention in exchange for the value of the service provided by the designer. The designer reviewed the presentation and was convinced of the merits of the business plan.
Needless to say, it was a very profitable investment.
