Are you hoping to take your idea to the marketplace? It is amazing how many inventors tell me they can do everything themselves because they think it is a way to earn/keep more of the money. The reality is no one can do it all! In fact, inventors who live in this state of fantasy, more often than not, lose it all because there are not enough hours in the day for him/her alone to do everything well. Manufacturing is a full time job. Marketing is a full time job. Selling is more than a full time job. In addition, no one can sell enough on his/her own to make a living. Besides he/she is going to have to keep the day job just to pay for all of this!

Having an idea isn’t enough

Getting from “I have an idea” to the marketplace is a long, expensive and challenging process. First, you need to understand yourself. What do you do best: your skill set? Where is your experience? Do you have any friends or family who can help out: graphics, engineering, marketing, etc.?

Now you need to find reasonably priced service providers to can fill in the blanks. Our motto is “Don’t spend a dime before it is time”. With that in mind, eventually you are going to have to have realistic expectations on what you can do, what you need to contract out and the profits you might make.

Most inventors don’t have the desire or skills to run a manufacturing company (a startup). Contracting out the manufacturing is a viable option if you have deep enough pockets to cover the cost. Then you can focus on marketing and selling. However, keep in mind, that marketing and selling are the hardest part of this process and the most expensive. Most inventors have two options: marketing and selling or licensing. Each has advantages and disadvantages. You pick the strategy that works best for you and you can even change your mind if one doesn’t work. Most important: You have to get to this point!

When you’re ready to do what you need to do to take your idea to the marketplace and achieve your goals, contact us.