You’ve got a great idea for a product that can make you millions. But before you get too excited, consider these five things:
1. It’s not new. Great ideas are rarely new, so chances are someone else has thought of it already. If your idea is truly unique new invention idea, it will be much harder to market.
2. You know nothing about manufacturing or distribution. Even if you have an idea for a product that’s never been made before, that doesn’t mean you know how to bring it to market or have the resources to do so successfully.
3. You don’t have time or money to develop it. The time and money required to develop a product can be overwhelming for even the most successful entrepreneurs — just ask Steve Jobs, who famously said: “The only way [Apple] could build something as refined as the iPhone was by starting with a blank sheet of paper. “Don’t try this at home!
4. Your first patent application won’t get approved on its own merits; instead, you’ll need expert assistance navigating through the complex process of getting approved by the U.S Patent & Trademark Office (USPTO). And even then, there’s no guarantee that your application will succeed — patent applications are rejected more often than they are approved.
5. Patent applications take a long time to be processed; in the case of some complex technologies, the process can take years before you see any results.
How to begin developing an invention idea?
With all that said, let’s see how to start an invention idea?
Identify the problem: What is it that you want to solve? Make sure it’s a real issue that other people have experienced too, or else your invention won’t be useful in the marketplace.
Research: You need to know all the different ways people have tried solving the problem before you can come up with something better.
Brainstorm solutions: Write down every possible solution you can think of, even if they seem ridiculous at first glance; this will help get your creative juices flowing and ensure that nothing gets overlooked.