Use Your Creativity To Make Money

If you have an idea for a product that you think others need too, you could probably use a little encouragement to get your idea out of your head and to the drawing board.  Who knows, you may see your idea roll off the assembly line in a few short years.  Millions of people with ideas to create something new or improve a product see their dreams come to life each year.

Ann and Tom Knightlinger, of Raleigh, NC, are the inventors of a new camera accessory, called POPABRELLA (small) and the PROBRELLA( larger), which are now on the market. The POPABRELLA and PROBRELLA are products that attaches to your camera to protect it from the elements. We all know what sun, heat, and rain can do to our costly electronics. The products are sold for $19.95 and $29.95 respectively.

So, how did an average couple do this?

Here are the steps they recommend:  First, put your idea on paper. Drew the object you wish to invent. Then create a prototype. Try to make your first prototype the best you can by using anything you can. You will probably make changes to that first design. “We had lots of prototypes,” say the Knightlingers. 

If your invention is not extremely technical, get a Provisional Patent, which cost about $75.00. The patent will last a year.  You should be close in design as you cannot change much at this point. Next you should have a prototype to show others. Your objective is to gain feed-back. You may wish to attend trade shows, take orders, and show the product to companies who may be interested. This helps you to determine if your idea is marketable, as well as how much the consumer will pay for it.  Important: You should have anyone who will see your product, sign a NDA (Non-Disclosure Agreement).

Before your Provisional Patent expires (one year) you should file for a Non-Provisional Patent.  This is usually done with a patent attorney and cost about $3,500, of course, it depends on how technical the item is.  You can file for the Non-provisional Patent on your own, but the process is more difficult. Keep all receipts as you go. 

If you find that your product is marketable, then you will next decide who will manufacture it.  Most products must be mass produced and unfortunately most goods are manufactured overseas, due to lower costs.  It’s all about the bottom line. “If our product was manufactured in the US, the consumer could not afford it,” The Knightlingers added. You can make connections overseas by searching for manufactures that produce your line, for instance, plastics manufactures or glass manufactures.  When you find a manufacturer you like – and have obtained a quote on your product, maybe you’ve even met with them, get them to make a sample.  Having a sample is always a good idea especially for attending trade shows.  A good prototype is best but not always necessary. 

After you have your cost, (this is very important because buyers want to know their margins) then you need to figure your own margins for each distribution level.  Then you can start selling.

Look for distributors in your market, sell direct, sell to retailers. The Knightlingers’ parting comments, “We wish you the best of luck, and as someone told us one time- JUST DO IT!”