So you’re busy with the kids or doing chores around the house and you get frustrated….AGAIN…because the gadget you’re using isn’t working as easily as it should. You think….why do they make it this way, I could have designed this so much better? And BAM! You have an idea for a great invention. You know you could
make millions off it, because all the other moms you’ve talked to have the same problem with their gadget!
But how do you get your invention out there and make millions? How do you sell your ideas for invention? What is the first step?
Well, there are two directions you can go. You can patent your idea and start your own business producing and selling your product OR you can sell (or license) your idea to a company to manufacture and sell it for you.
The advantage of doing it yourself with your own business is you keep most of the profits. When you license an idea to a company to manufacture it for you, you only get around 5-10% of the profits.
So you need to ask yourself, do you have the time, energy, and money to do it yourself? This means filing for a patent, hiring a patent attorney, searching for and selecting a manufacturer to make your product, working with the manufacturer, marketing your product, etc. If so, then you have the potential to make millions if you have a great product! It can be done, there are many moms out there who have done it and are making millions.
Or do you want someone else to take care of the manufacturing and marketing of your product idea? If you choose this option (to sell or license your idea) there is still work to be done but it is definitely easier than creating your own company and marketing it yourself. You have the potential for making really great money collecting royalties off your ideas!
I’ll go into further detail on what steps to take to do both of these. Read my post Make Millions From Your New Invention Idea - Step 1.
More articles:
How To Find Retailers To Sell your New Product
7 Industries That Offer the Potential for Moms to Make Millions
How Moms Can Use the Internet to Start Making Millions
Six Figure Yearly Program - Is It Worth The Money?
Get Paid to Drive Your Car - Is This For Real?
Submit Your New Invention Ideas To Proctor and Gamble
More Moms Who’ve Made Millions
