Hello all,
I am currently working on a product that I had patented a little while ago. Im sure like most of you like me are constantly coming up with new ideas and products.
I am trying to focus on 1 idea at a time, I have a heavy load as it is, I am VP for an electric contracting business and i am a property investor as well.
My question is what do I do with these other ideas that I have? Is there a firm out there that buys ideas? A colleague of mine said he had a friend that worked for a company and his job was to come up with 3 ideas a year and paid very well.
Should I patent everything??
I just don't want to venture off and be scattered and never complete anything.
Any guidance or help would be very much appreciated.
Watch the Shark Tank and Dragon's Den. It's amazing how much you can learn about product patents, what sells and what doesn't.
There was a guy recently that came on and had 80+ patents for products after 7 years... with NO sales. Without going out and licensing your patent, pitching it to a larger corporation to team with, or going directly into manufacturing, it's no better than having the idea in your head. You just put your idea on paper.
If you TRULY think they are great, attainable ideas, write them down somewhere and give them time for you to think about. Focus on executing one product or a line of products end to end and get it out the door to generate revenue. It takes 210% to get a business running, so splitting that 210% between 5 products means you'll be falling 160% short on each one.