Inventions

Many people have a great invention. Their success, however, may depend less on how innovative their invention is, and more on how well they know how to market it. In many cases, a great idea just isn't enough. Aspiring inventors also need to understand how to research, develop, and promote their products.

Researching an Invention

Before attempting to market an invention, it's best to find out if there's a need for it, and to identify any errors or improvements that can make it more marketable. Every inventor should identify a target market for their product?a particular age group, gender, or people from a specific occupation who would likely be interested in the product. With this information, inventors can identify what marketing methods would work best, and can locate people from that group whom they can contact for market research purposes.

Surveys and Focus Groups

Once they've identified their target market, many inventors conduct formal or informal focus groups. This allows a representative sample of their potential customers to evaluate the product and give feedback. With this feedback, the inventor can make any needed changes, and learn how to best reach customers. Surveys can also be used to gather information, via email, over the telephone, or by direct mail.

Funding an Invention

Until an inventor finds a manufacturer or financial backer, the responsibility for developing and promoting the invention lies with the inventor. While financing can be a tricky issue, there are several ways to find the money, as opposed to taking out an expensive loan.

First, see if you can cut back in any other areas of your life. By reducing personal expenses, you can save the money you need to get started.

Don't quit your full-time job to work solely on the invention. The product may not be successful, or it may take many years for it to take off. By continuing working, you can ensure you have the money you need to live on and some set aside for funding your idea.

Take your time. Do not try to tackle research, development, and marketing all at once. This way, you can fund your product over time, and not risk sinking a large sum of money that you may not yet be able to afford.

When to Get a Patent for an Invention

Many inventors think they need to get a patent before they do anything else, but this can be an expensive and unnecessary step. Patents can cost $5,000 to $10,000, so inventors should make sure their products are even marketable before they spend that much money. Many products don't have patents, and as long as an inventor doesn't violate anyone else's patent rights, one probably is not needed.

USA phone cards

USA phone cards

Phone cards
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