11 Ways on How to be an Inventor on vp Business Development

Filed in Business Idea by on January 11, 2023 0 Comments

Inventor ideas: The word “inventor” conjures all kinds of images in our minds. We picture the mad scientist stumbling upon technologies that seem impossible, and whacky characters gluing pieces together in their basement. The reality is that inventing something isn’t always super complicated. If you come up with an idea for a product that doesn’t exist, you can be an inventor! If you’re curious about what this process looks like, read on to learn how you can bring your idea to life.

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Inventor ideas

1. The first step is to figure out what kind of problem your invention will solve. This process can take a variety of different forms, but the first step is to identify the problem you want to solve. Does your imagined product make a daily task easier to perform? Does your idea entertain people in a unique way, or improve on current solutions? Identifying the appeal will make it easier to guide your design. From there, start brainstorming potential products that could solve the problem you imagine.

  • If you can’t identify the need for your invention, you’re not going to be able to turn your invention into a marketable product.
  • When you hear “product,” don’t assume that it means concrete physical object. Websites, apps, and services all qualify as products!
  • An important note on this process: do not publicly share any of your ideas. If the idea for your product is publicly disclosed, you may not be able to patent it in the future.

Inventor ideas

2. Research the existing market to make sure your idea is original. Once you have a sense for what problem you’ll solve, hop online. Start poking around in search engines and online shops to see if anything already exists that solves that problem. If you already have an idea for a product in mind, check to see if it already exists. If it does, your product has already been invented and it’s back to the drawing board. If it hasn’t, you’re in luck! You may have a marketable idea.

3. The last step is creating a prototype to start tinkering. A prototype is a real-world version of what your final product will look like. You can make one by drawing a sketch of what your product will look like, or by creating a 3D model of your idea. Then, either you’re your product by hand or hire someone to make it for you.

  • You may go through multiple prototypes before you stumble on one that matches your vision.
  • For example, if you invented a broom that oscillates back and forth to clean more efficiently, you could physically cut the head of a broom off, drill the hinge into place, and wire the motor yourself to see what it will look like. You could also hire a fabricator to make a custom hinge and a soldering hobbyist to put the motor together.
  • For service-based products, your prototype might include a description of your services, a logo, or an outline of how the service would work.
  • If you’re inventing an app or website, you might sketch out the home screen, logo, and menu options. Then, you could design the pages in Photoshop or code a few screens yourself. Alternatively, you could hire a freelance coder to craft a basic version of the app for you.

4. Consider how you would improve on things that already exist. Inventions don’t need to be radical, brand new ideas. The LED lightbulb was a brilliant invention, but it’s not like lightbulbs didn’t already exist! If you can slightly improve upon a thing that already exists, you’ll have a major edge when it comes to marketing your product. Just make sure that you aren’t explicitly ripping off a specific brand if you go this route.

  • For example, there were other social media sites around before Facebook—MySpace and Friendster. What did Facebook do differently? It was easy to use. You didn’t need to know HTML to customize your page like MySpace users did, and you didn’t need to search for posts other users made like Friendster.
  • Think about where your talents lie. If you know a lot about wiring, you might consider trying to invent a better light switch, keyboard, or alarm clock. If you’re really creative and good at coding, you could try inventing a new photography app that makes editing easy.

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Inventor ideas

5. Think about problems that desperately need solving. Consider all of the minor inconveniences in your daily life. From the time it takes for your phone battery to charge, to lost car keys, there are all kinds of normal problems out there that people would happily pay money to solve. While it’s possible to come up with the problem you’re going to solve after you have an idea for an invention, it’s much easier to identify the problem first.

  • Is there something in your personal life that drives you insane and there’s no solution out there, try to brainstorm what a potential solution looks like. If you always sleep through your alarm clock, what could you do to make that impossible? If you’re really bad at remembering names or dates, what kind of app might you invent?

6. Keep an open mind and entertain your silly ideas and mistakes. Don’t let your assumptions and laser-sharp focus keep you from identifying a great product. Maintain an open mind, let your ideas flow freely, and don’t write a potential product off just because it’s a little odd. Some of the best ideas are developed accidentally, so treat your failures like progress and consider each idea from multiple angles.

  • The inventor of the Slinky was trying to build a spring to keep ships stable in rocky seas. He accidentally knocked prototypes off of a shelf and saw how his products moved, which is where he got the inspiration for the toy!
  • The popsicle was invented by an 11-year-old who left a cup of soda outside in freezing weather. When he stumbled on the frozen cup, he noticed he could hold the frozen stirring stick he left in the cup like a handle.

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Inventor ideas

7. File a patent if you’re confident in your idea and ready to build. There are dozens of different types of patents and trademarks, so talk to a patent attorney if you’re interested in legally protecting your idea. However, you do not necessarily need a patent if you’re planning on going at this alone without investors or corporate help. It may also be a good idea to wait if you aren’t sure the product is marketable yet. Once you’re ready though, talk to a patent attorney.

  • Patents can cost $5,000-10,000, and there may not be a need for a patent if nobody knows about your idea and it’s unlikely someone else is going to beat you to the punch. If you aren’t positive you want to invest the time and energy on your invention, just wait.

8. Create the product yourself to start a small business. For physical products, contact suppliers, purchase materials in bulk, and assemble the product yourself. Sell the product on a personal website, set up an Amazon shop, or market the product to local businesses to get it on their shelves. For digital products, code and design everything on your own and upload the final product online or to app stores.

  • You don’t really manufacture service-based products. If you’re starting a small business for a service, you might create your website, begin advertising, or craft your billing system. Remember to register your business and get any necessary permits before you start on your journey!
  • It takes a lot of time and energy to manufacture and sell the product yourself. However, you’ll have total control over the direction of your business, you’ll get to keep all of the profits, and you won’t need to rely on anyone else.

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Inventor ideas

9. Partner with a company or hire freelancers if you need help. You can hire a machinist, designer, or manufacturer to create inventory for you. Alternatively, you can reach out to a company in your field and pitch your idea to them. They may try buying your idea off of you, suggest a licensing deal, or offer to make the product and bring it to market in exchange for a cut of future profits.

  • You can reach out to venture capital firms if you strictly want funding to develop the idea yourself.
  • For corporate help developing the prototype and product, contact companies in your product’s sector. If you’ve invented an app, reach out to software companies. If you’ve invented a home cleaning product, reach out to companies that make cleaning solutions and home supply products.
  • Ever seen Shark Tank? If you haven’t, it’s basically a show where inventors and entrepreneurs pitch their ideas to investors and corporate bigwigs. Try watching a few episodes if you’re going this route to see how other inventors pitch their products.

10. It can range from free to $100,000, so it really depends. If you already know how to code, your invention is an app, and you aren’t worrying about patents, you may not have any costs at all. If you file for patents, purchase raw materials to make your prototype, and hire a manufacturing firm to build a new type of catalytic converter, you may be spending thousands upon thousands of dollars. It depends on your skillset, the invention, how much work you want to put into the prototype, and the degree to which you’re willing to spend money on a business.

  • The cheapest way to go would be to not make any physical prototypes and try to pitch your idea to a company who already has the capital to create it. In this scenario, you may not make more than a small percentage of the profits, though.

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Inventor ideas

11. You can, but it can take a lot of time and effort. A single great idea can make you a ton of money. However, it takes a lot of time for a prototype to turn into a marketable product, and even then, it may be years until consumers see the benefits of your invention. Try not to get discouraged and stick with it if you believe in your product.

Inventor ideas

Conclusion

  • There are “invention promotion” companies out there that claim they’ll turn your idea into a marketable product. They often request a small sum of cash to do this. These companies are usually scams, so you’re better off avoiding them in most cases.

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