Inventor in need of advice.

[Jeremias Hefner]

I'm a 20 year old tire technician, I've never had any education on which road to take while trying to invent something. Should I do it all on my own or should I get help through a company.
I had an idea that I submitted a company that says would help me get patented, and marketed. My question is are these companies the real deal? Second question is what would be the best way to get investors.

 

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[GuestUserX09]

I had an idea that I submitted a company that says would help me get patented, and marketed. My question is are these companies the real deal?

I wouldn't have submitted my idea without being confident they were the real deal.

As for execution, I would review a few general business books or things like "lean startup" or "7 day start up". Then gather a team of freelancers skilled in their own areas and take on the project myself.

 

[Jeremias Hefner]

Generally speaking, the best way to raise money (outside of friends and family) is to bring on someone who has experience leading companies to lead the company. That person will not only have the contacts necessary to raise capital, but should also bring investors confidence that the company can perform.

I'm assuming you don't have the capital to hire someone, so my recommendation would be to find someone who will join strictly for equity. The only way to find someone who will do that is to have great IP that can be protected -- this is good, because if you can't find someone who will join you strictly in return for equity, that probably means your idea/IP isn't good enough. Better to know this now than later.

Thank you for the quick reply, your advice really made sense to me. And with the equity part, how much equity is too much equity to give?

 

[TonyStark]

Just do it.

 

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[TonyStark]

Why waste time on all of that if your product sucks? Go work on your product, and if people need it then you can patent it. Until then, it probably stinks. (No offense)

 

[Jeremias Hefner]

Why waste time on all of that if your product sucks? Go work on your product, and if people need it then you can patent it. Until then, it probably stinks. (No offense)

Well I introduced my product to my manager, (Discount tire) and he thought we could use them in our place of work. So I figured if it could help us, it'd could help everyone. And how did you get that my product sucks?

 

[TonyStark]

Well I introduced my product to my manager, (Discount tire) and he thought we could use them in our place of work. So I figured if it could help us, it'd could help everyone. And how did you get that my product sucks?

You'll never know until you ask a million people if your product could help them. So I would start there. Money will come naturally. MJ writes a lot about it in the book. Did you read it? I hope so. Anyways, he mentions that once you get so good at something investors start looking for you. So get really good at it. It doesn't matter which route you take, just do it.

 

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