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August 10, 2012

Fitting in with consumers behaviour

A common problem with inventors is that they think everyone will want their product. This is not often true. Inventors are so taken back by their inventions that they fail to look at the bigger picture. Does the invention fit with consumers behaviour? Thinking everyone will buy your product is a big mistake that inventors make. Inventors need to take into account what is currently in the market and how yours fits in not how your product can change the consumers behaviour. Trying to change consumers behaviour is risky and more often than not your product will fail. If your product […]
June 8, 2012

Don’t rush your invention

Ensuring your invention is going to be the best you can possibly make, means you need to take your time and don’t rush. A forced invention is more likely going to be a failure as it most likely won’t consider all aspects of the market. Presumably you have a full time job and a life, so treat your new idea as a hobby to start with. Don’t even consider quitting your job based on your assumption that you will make millions instantly. Your idea might make millions, but it will almost certainly take a minimum of 6 months until you […]
June 8, 2012

Six mistakes inventors make

So you think you have an idea, great. But are you one of many that fall into the below six categories of mistakes inventors make. If you are, then be careful, you might get knocked down quickly and this can cost you dearly. Mistake 1 – Expecting unrealistic results Don’t think that you will make a million dollars straight away, its highly unlikely. All new products take time to develop. For example it takes a minimum of 6 months for the design and manufacture processes before you even progress to marketing and sales. If you employ a good team, this […]
June 8, 2012

License the invention or make it yourself?

The best advice to anyone trying to sell an invention is:  Make sure you do all you homework. Is the product already in the market? Should you get a patent? A prototype and a well designed product will make this process that much easier and attract more attention. No one really wants to take on all the hard work themselves to create your product so it is going to be very difficult to be able to sell your idea. The only people who may be interested in buying an invention may be companies who would save a lot of money […]
June 8, 2012

Inventors choose the right business name

A very important part of setting up a new business is to actually come up with your business name. Believe it or not, choosing a business name can be very difficult. Not only do you need to find a name that is memorable, you also need to find a name that is not already registered by another company. Your business name can have a positive or negative branding so be sure to choose wisely and don’t rush into registering a name you are not 100% happy with. As coming up with a business name can be time consuming, I have come up with some […]
June 8, 2012

Inventors choose the right product name

So, you have asked your friends and family for advice on your idea now its time to come up with a name. Coming up with a name is usually a little hard. Try and think about the product and what the product is doing. Try thinking about short and memorable names that will be easily remembered. Is your name similar to other product names out there?  Is there a website domain name available for that name (I will cover this topic in later posts). If you can add the task the product does to the name, then it will more than […]