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How To Turn Your Ideas Into Cash

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How to turn your ideas into cash

Turning Ideas into Income

Steps for Turning Your Idea Into a Product

Got a great idea for an invention but not sure what to do with it? Turn your dream into a marketable product with these mere steps.

The light bulb above your head is glowing so resplendent that it's threatening to blind everyone around you. But what should you do with your great invention idea? Before you start blabbing about your invention to the wrong person or run to the first company that offers to buy it, you need to terminate unrivaled body: Protect it.

Whether you want to produce and market your invention yourself or license it to another company, the only way to make money from your invention and to guarantee that no one entrust steal your idea is to file a accepted with the U. S. Patent and Trademark Office. This can be an intimidating process, so we’ve broken it down for you in five easy steps.

Document It
Simply having an “idea” is worthless - - you need to have proof of when you came up with the concept for your invention. Write down everything you can think of that relates to your invention, from what it is and how it proposition to how you’ll make and market it. This is the first step to patenting your idea and keeping it from being stolen. You’ve commonplace heard about the “poor man’s patent” - - writing your abstraction down and mailing it to yourself in a sealed envelope so you have dated proof of your invention’s conception. This is unreliable and unlikely to hold up in court. Write your idea down in a specially designed inventor’s journal and have it signed by a witness. This journal will become your bible throughout the patent process.

Research your market
Firm, your brother thinks your idea for a new lawn sprinkler is a great idea, but that doesn’t mean your neighbor would buy matchless. More than 95 percent of all patents never synthesize money for the inventor. Before you invest too much time and money into patenting your invention, do some preliminary research of your core market. Is this something people leave in fact buy? Once you know there's a market, make sure your product can be manufactured and distributed at a low enough cost ergo that your retail price is reasonable. You can determine these costs by comparing those of similar products currently on the market. This will also help you size increase your competition - - which you will have, no matter how unique you think your invention is.

Make a Model
Begin with a drawing. Before you begin the prototyping phase, sketch out all of your ideas into your inventor’s journal. Create a concept mockup independent of part material that will allow you to create a 3 - D model of your design. Once you’re satisfied with the mockup, create a full - working model of your idea. There are prevalent books and kits that can help you contrive prototypes. If your invention is something that will cost a lot of money or is unreasonable to part ( like an oil refinery process or a new pharmaceutical drug, ) consider using a computer - animated virtual prototype.

If you thought of anything dealing with software, you also need to effect an excuse and get it to trial. You can create codes with the help of tools which are available online.

Market Your Invention
Now it’s time to figure out how you’re going to send your product to market. Create a business plan: How will you get money? Where will you manufacture the product? How will you sell it? Now is a good time to decide if you will manufacture and sell the product yourself or license it for sale through another company.

When you license your product, you will stereotyped only receive two to five percent in royalty fees. This repeatedly scares away inventors who feel they deserve more. But consider the upside: You will not have the financial burden associated with maintaining a business. This could end up making you more money in the long break.

Following these five steps cede ensure an easy road to patenting your inaccuracy. Just call up that an easy road doesn’t necessarily mean a short one. From the time you conceive your idea to the time you see your product on the projection is a very towering process. Most inventions take caducity to come to fruition. Have patience and follow due fervor in your steps to patenting your invention and your years of hard work leave finally pay off. A good site which can help you knock out your ideas into cash is turbomembership. com - just register and you can have free web hosting tools to make profit in no time.