I Need Invention Financing!!
Do you need invention financing but don't know where to get it? If you have no money but you think you have a great idea then you need to get creative. In most cases you can find money waiting out there for funding your idea if you know where to look.
If you are unable to find yourself an invention investor, don't despair. That doesn't mean you can't make money from your idea. You can. Actually you can do quite well if you are smart about how you approach the inventing process.
You will simply have to adopt a DIY approach to inventing. This is the approach we teach at InventionPartner and it is by far the best method for the independent inventor.
The basis of DIY inventing is knowing what your goal is from the beginning. You should decide if you are going to start and run a business around your idea or if you simply want to license your idea to a manufacturer. In most cases the process is different for each approach because the requirements for each are different.
If you intend to build and run a business, a patent is not required to be successful. It can be helpful but 99% of products are not patented. Knowing this you can save time and money by NOT getting a patent.
The flip side of this is licensing. Most companies that license products want to have some form of protection around the idea they are licensing. This could be a patent, trademark or copyright. If your strategy is to license, this is an important area to focus on and plan for.
Many times the answer to the question of whether to license or manufacture the product yourself comes from the idea. If you have a novel concept and it is patentable you have the option of either choice. However if you know a patent is not in the cards and you have no intention of starting a business then usually the best choice is to find a new idea.
By asking the right questions and understanding your end goal you can save yourself a lot of money.
The ultimate goal of DIY inventing is to be successful and make money from your invention. The second goal is to only spend the money necessary to reach the first goal. If you are smart you will not need invention financing. If you need help try funding invention. I have licensed products for as little as $200 in expenses and you can to. You simply need to use the right approach for your goals.