© 2008 Dream Merchant • 2309 Torrance Blvd. #104, Torrance, CA 90501 (310) 328-1925 email: Jkm316@aol.com
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Dear Inventor:
As we look back on our publication over the last 18 years, it's clear that the world of invention continues to grow and produce a variety of innovative new products. But the basics of inventing have essentially remained the same. So perhaps it's time to review a few ideas with you, our readers.
So whether you're new to the Dream Merchant or have been with us since the beginning, let's look at a few essential truths of the invention world.
1. Ideas Clump--Inventors are often paranoid about losing their idea or having someone else steal the designs, etc. This doesn't happen as often as you might think. What's more common is that ideas will "clump"--two or more people will have the same product idea around the same period of time. The lesson? Don't sit on your ideas. Work to develop them. The prize goes to those who act and act first.
2. You CAN Patent it Yourself--David Pressman's classic book, PATENT IT YOURSELF, is as true today as it was in its initial release several years ago. On a budget? You can still protect your idea and develop your product. Buy Pressman's book. Read it. Then begin using the steps to protect your hard work.
3. A Patent Isn't Everything--The vast majority of patents never make any money for the inventor. Why? Because most inventors aren't marketing experts and have little experience in prototyping, venture capital, licensing, manufacturing or small business. Those who educate themselves stand a much better chance at invention and small-business success. How do you get educated? The public library is a great place to start, but then so is the Dream Merchant.
4. Marketing IS Everything--No matter how innovative and useful your new product is, it will never sell (or be licensed) unless people know it exists. Once your product is protected, begin searching licensing deals or manufacturers who can help you get the product into the marketplace. That search may eventually inspire you to start you own company.
5. You CAN Be a Business Owner--That's right--we mean YOU. Most inventors don't think in business terms, but that doesn't mean they can't be successful in business. We urge you to read the Dream Merchant's business section for articles on small business, while also networking with other business owners through local organizations in your area. The Service Corps of Retired Executives (SCORE) also offers one-on-one help for people wishing to start or improve their small business ventures. Look online for a SCORE chapter in your area and make an appointment. There's plenty of help out there. Take advantage of it.
Although the world of invention remains the same in many ways, that can be a great advantage to inventors. You're in a world with a long history and a clear-cut path for product development. We at the Dream Merchant honor that world, and will continue to offer you the latest in information and inspiration.
Best of luck with your great ideas.
Sincerely,
Mike Foley Editor
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