Jan
4
Written by:
John.Hobbs
1/4/2010 10:10 AM
By properly assessing the idea before moving forward too quickly an entrepreneur will be less likely to waste much of their time or any money by working on one of over 440,000 plus new patents filed each year that does not make a profit.
The following is only the start of the process to become profitable while also wasting less time and money.
- Write down every feature & benefit then focus on developing the benefit language from the very start.
- Complete initial search at www.uspto.gov, although get a Patent Attorney to file your patent later...
- Research the Target Market and Competition…
- Develop a business plan, which include use of proceeds… The first plan will be less detailed than the next one you develop but it’s essential to the next step.
- By completing the steps above an entrepreneur has enough information to make a rational decision to move forward or not. If yes, it is now time to start a business and work the rest of The Secrets of Successful Inventors. This is the first investment in the exciting journey of bringing your concept to life!!
The 5 steps above are covered in the first 4 chapters, a.k.a. Action Steps, of The Secrets of Successful Inventors. An inventor that decides to move forward and works the step-by-step guide will gain traction even if the idea is floundering. This is accomplished through proper preparation of the person and business, helping to attracted the necessary resources and team required to penetrate the market with a professionally branded message that compels their target market to buy.
Now since there will be a few seasoned teammates that have the knowledge to make savvy decisions the new company will strategically move forward in a professional manor. This will keep an inventor from wasting precise time and resources with unscrupulous 3rd party service providers on services that are not needed until they are needed. Because if money is spent on services, such as patents, websites, brochures, fliers, commercials, advertising, and prototyping etc. before the services are needed an inventor will be able to include themselves as someone that contributed to the billions of wasted dollars spent each year.
Copyright ©2010 John R Hobbs
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