I have an idea for a couple of new accessories I would like to see on the market. I have made a few of each of them and have close friends “field testing” them for needed improvements. I don’t really think they are million dollar ideas but definattly worth making for profit. What do I do with my new ideas now? All response is appreciated.
An inch to short. That’s the story of my life !
bstcrpntr — I hope to grow into this name.
Listeners write in about insulating an attic roof in a balloon-framed house, sizing a new heat-pump system, attaching extension jambs to a window or exterior door, and more.
"I have learned so much thanks to the searchable articles on the FHB website. I can confidently say that I expect to be a life-long subscriber." - M.K.
Dig into cutting-edge approaches and decades of proven solutions with total access to our experts and tradespeople.
Start Free Trial NowGet instant access to the latest developments in green building, research, and reports from the field.
Start Free Trial Now
Replies
Can you manufacture them? Do you want to manufacture them? Same two questions for marketing. If you don't want to manufacture or market them, how much would you have to pay somebody else to do that. Either way, how much would they have to sell for to be profitable? Do you think anybody will pay that much? Will your designs sell on sight, or would you have to educate your potential customers before you could sell them? Will people from lots of different trades want to buy them? If you do find a market, how easy or hard would it be for somebody to undercut your price by manufacturing on a large scale, or manufacturing overseas?
I think what I would do in your position is offer the designs to somebody who already knows the answer to all those questions, a manufacturer who makes the kind of thing you're inventing. And I wouldn't worry about getting ripped off. Once you get into the groove of having good ideas, you'll keep having them. If one company steals your ideas, you know who not to send them to next time. Plus you'd be in an excellent position to prove prior art if the thief tries to patent your idea. If no one will pay you for your ideas, maybe that accurately reflects the market value of bare good ideas, shorn of engineering, manufacturing, marketing, and sales.
Edited 12/31/2003 12:22:05 AM ET by Uncle Dunc
Ah inventing, a pastime close to my heart(have 1 patent in my name)(no not reinvent). Couple of things to consider. First do a pattent search. Can be done online with the US patent office. Look at all the patents that closely resemble your idea. If you pass that test it will take two to three years to get one and cost 2-4k. Hire a patent attorney, they know how to fast track through the red tape, If you try to go it alone(it is possible just not recomended) can greatly extend the aprovel proceses. Dont need a patent to market something but it does provide some protection(depending on the skill of the attorney and novelty of your idea). Once you have started the proceses you can say you are patent pending and this opens the door(only a little) to marketing. Now comes the hard part. Even if you do allmost all the work yourself it will still cost 10s of thousands of $ to get it to a sellable state(even for a simple widget) Be carefull of marketing companies. They will often tell you what you want to hear and after spending a lot of your money for 'R&D' or advertiseing you may have nothing to show for it. Also if you go straight to manufactures 99% will say not interested. Keep trying but unless you are patent pending you risk theft of your idea. Some companies wont even talk to you until you are. Go to your local S.C.O.R.E to get good free advice from retired business men. Go to the library and get some books on the subject (patenting, marketing etc). One trick companies can pull is to offer you a royalty on your idea and then delibrately shelve it so it wont compete with something they are allready working on.
Not trying to discurage you, just forewarn you on potential pitfalls.
Good luck.
an excellent question- unfortunately it would take several hours of phone conversations to really begin to answer it. uncle dunc and reinvent have you on the right path for the most part. i'm currently doing consulting for someone in exactly your position- good idea, but what do i do now?- as i have 3 patents and a pile more in various stages of development. if you could be more specific, maybe i could help you out on a few things.
m
Sorry but our resident inventor/stair-railer is out to lunch...
For life.
Too bad, he could he could tell you all the things NOT to do!
He was a real people person!
Not easily offended.
A real craftsman.
An all around great Guy!
A great conversationalist and always willing to admit he might be wrong.
Unfortunately he had a multiple-personality disorder, and that part never got out much.
Good luck!!
Mr T
Do not try this at home!
I am an Experienced Professional!
T
I wanna know the invention Prospero made to get rid of him..I'm so dying to know how they did that.....Thats the best invention of al time
Be.....aint sayin it!
andy
My life is my practice!
http://CLIFFORDRENOVATIONS.COM
T, Boy, you ain't right !
Greg
doesnt the union have a program for just such an avenue? i remember seeing an article in a magazine that was devoted to inventions by members, maybe that isnt the thing you are looking for.
as an innovator in my field of expertise for years i came up with several jigs/techniques to improve the work. is this more or less what you are talking about as well? when i hear you say "accessories" that is what comes to mind. i quickly read previous posts describing patents, and was wondering about copyrights? i had an idea several years ago, asked some questions, and found out that i did not re-invent the wheel, and that i had better keep my day job.
if you patent, or copyright your recipe for chicken soup, and someone else comes along and adds a little extra salt, and then uses the recipe as their own, they have not infringed on your rights. this is a very rough analogy, if you have something truly new and unique, that revolutionizes the industry you deserve the rewards, but if it is something already in existence that you are using in a new or different way you deserve to be recognized as the clever individual you are, and have the respect of your peers. you can get that recognition and respect here if you tell us what it is!
Thanks to all that are and will respond to this question i started. There are now a few more things i need to know. What is my local s.c.o.r.e. that one stumped me. I have two ideas that as far as I know there is nothing like out there that can be store bought. By accessories I mean that both of these are hooked on to the toolbelts we all know and love. As for the union having something about my situation I will look through my back issues of CARPENTER magazine and see. I often see new ideas for gadgets in Carpenter magazine and used to see them in fhb but I want to try the patent avenue before i just give away my little ideas. Thanks to all.An inch to short. That's the story of my life !
bstcrpntr --- I hope to grow into this name.
score
Service Corps of Retired Executives
Score
It is a place for bored retired Executives to give some thing back, to want to be business people. It is free they will sit down and give you benefit of their experience and some guidance.
Hi fredsmart
Would like to chuck my 2 cents in here. To obtain a patent it cost a lot of money, and it only protects you in the country where it is issued. Can you imagine how long a great idea takes to fly to the east and be knocked off!. People sit on the web and look at all the patents being issued, make a slight modification and the rest is history. If you have a great idea you have to get it on the market quickly make your profit and say thank you.
Happy NY
Mac