Do you have questions about inventions? Good you’re in the right place. I’m going to share with you some tips and hints for getting your product to market but more than that, I’m offering 10 free talks to universities, colleges or inventor groups within the UK…
Experts tell us that only one in five thousand inventions make back profit for those who created them. These seem pretty dismal odds don’t they? I can help you beat those odds though. I did, I’m living proof that yours can be that one in five thousand if you follow a few simple steps.
If you choose to sign up to my blog I can promise that you will think about the process of invention from a refreshingly new and exciting perspective, giving you the confidence to take your idea all the way, if you choose to.
But even better than that, you can actually book me, FOR FREE to come along and talk to your group about how I went from a frustrated shop floor worker to owning my own multi-million pound company – and I how I can help you to do the same.
For now though, let’s have a look at the answers to some of those questions about inventions that you may have…
What makes something marketable?
A marketable idea is something that helps solve a problem, eliminates a pain point or speeds something up. We are all looking for things that do this for us every day.
Start thinking your future customers are lazy because even if you don’t want to do less, they certainly do, that’s why inventors exist – we create solutions to make life easier and better for people who will be more than happy to pay a premium to own what we create, the hardest part is just finding out what that is.
Now for those of you who are more defined by laziness, like me, rather than being blessed with a natural desire to work hard – yes you probably have some motivational challenges to deal with but at least you appreciate those inventions that already exist in our world that feed your lifestyle for doing less, and that’s a perfect place to be, your mind is trained to look for short cuts.
Think about a world without sat-navs, mobile devices, the internet, cars or washing machines. The world would be a tougher place wouldn’t it? Each of those inventions came about because of people’s desires to do things more easily and much faster.
My invention just happened to be something that helped printers out. I worked in the printing industry and saw a problem that I could potentially solve. I created something that would save the industry millions of pounds and that would also save time.
Look around for problems in your own environment. What are people struggling with? What currently takes a lot of time? What are people complaining about? These can all lead to the next great invention.
Who should I look for as a mentor?
Just for a bit of fun, let’s first look at who you shouldn’t choose as your mentor. There are 4 types of inventor that you should really avoid as your mentor because they will not help you achieve your goals.
I have successfully monetised around 500 of my own products in the last 20 years, and during that time I’ve observed the characters, traits and mindsets of many inventors, and found four types you must avoid as your role model if you want to monetise your idea, here they are:
The mad professor, the type that is so involved in their creation that they never stop to think about how, or if they can monetise it. These people tend to be consumed with the idea of solving a problem rather than who they are solving it for. Learn more here
The “mad professor” inventors often end up eating into their savings to keep their patent alive because they are on the verge of something amazing, – these rather delusional creatures of habit have played their part well, delivering to the media exactly what they are perceived to be.
The court jester, the type that typically dresses in strange clothes to attract the attention of the media at inventor conventions. You have, no doubt, come across them at trade shows and the like.
I have never seen a truly great invention behind such a masquerade, (although I am sure there must be one or two out there) and more often than not a novelty or fun idea is usually what is left when the hype dies down – a musical toothbrush caused some attention at one show I attended, the “inventor” charmed the crowds for three days but left with zero investment or awards for his “ingenuity.” Learn more here
The destroyer, this is the type of inventor who demonstrates arrogance instead of confidence and aggression as opposed to a healthy passion. These people don’t follow rules and will use underhand tactics to promote and sell their ideas.
This is certainly not someone you should want to emulate. They will always be on the look out for short-cuts and they will not show you how to properly or professionally promote yourself or your ideas. Learn more here
The regular guy or gal, I think that most inventor’s fall into “the regular guy or gal” category – they often have marketable ideas that could really do well, but they don’t have any particular plan, or even a basic strategy to get them where they need to be. They tell you that they are just the ideas people and expect that someone might guess how their product might be attractive or beneficial in their market, they might simply ask, what do you think?,
These are not the people to help you get your ideas to market and they are also a type of inventor that you should avoid as your mentor. Learn more here
A good mentor is someone who will help you plan your sales strategy. They will be able to suggest routes to market, possible connections and collaborations and they will actually help you achieve your goals.
A good mentor is someone who has already achieved the very thing that you are striving to achieve. They will be able to show you the steps they took and help you to avoid the pitfalls they fell into.
How do you ensure that your ideas is the one in five thousand that makes money?
As a person who succeeded in creating world-class, print related products from my garage before selling them world-wide, I believe the tough lessons I learned along the way gave me the knowledge and insight to help any creative person with passion and desire to forge a similar path.
Firstly you need to find a powerful reason to get started in order to sustain your passion throughout the journey.
Second, think up a simple idea in an environment similar to you. It could be at work, at home, in the garden, or out walking your dog etc. This may sound clichéd, but you then have to say to yourself, if I could solve that problem it would make me a millionaire!
Third, you need to adopt a business mindset. This tip is absolutely key. If you truly believe your idea might turn into the next best thing, it is critical that you adopt a business mindset and become professional in your approach to everything you do.
Unfortunately, inventors usually adopt an inventors mindset, one that tells us that we are only the “ideas people,” and it is someone else’s job to work out how to sell what we created.
Fourth, keep things secret and don’t seek evaluation or praise. This might sound a little dumb as you would surely want the opinions of people you are trying to help right?
‘I’ve lost count of the amount of times people I have met who tell me about fantastic idea they thought up but were put off from proceeding with it because a friend or someone else they confided in thought it was crazy.
‘The most vulnerable time for any would-be inventor is at the initial stage of idea conception and proto-typing, this is where the temptation to seek approval, praise and even adulation is at its most potent level, don’t do it!’
If you’re doing things professionally, you would have carried out more than a basic amount of research to develop your solution to some big problem you encountered, and also worked out what it could mean to your future customers.
Fifth, beat the 12 month patent clock. It’s a sad fact that so many incredible inventions never get to see the light of day simply because the majority of inventors fail to monetise their idea within the first year.
Applying for a patent can cost anywhere from £3,000 – £6,000, which gives you 12 months to prove your idea is unique and can generate cash before you look to protect it world-wide, which equates to £1,000’s more.
And finally, book a free talk with me. I will share my journey with you and show you how it is possible to become that successful inventor that makes money from their creation.
I will answer your questions about inventions as far as I can. Whether you are at the raw idea stage, or you are ready to introduce your idea to the world I can help you take the correct next step.
I am offering to do 10 FREE talks across the UK to universities, colleges or inventor groups. Would you like to be one of them?
How to register for your FREE talks on invention