They Could Have Been Billionaires
Don't Let this Happen to You...
Protecting Your Innovation
Patents don’t come cheap. For those of us who find it necessary to invent on a shoe string budget a traditional patent is out of the question. So what can you do to protect your product?
If you can afford a little something, a temporary, but cheaper option is a provisional patent. Fees vary, but as of this writing the rate is $220.00. With a provisional patent your invention will be protected for one year which would allow you the opportunity to shop it around to potential manufacturers without risking your idea.
Applications must include the names of all involved inventors and can be filed up to 12 months following the date of first sale, offer for sale, public use, or publication of the invention.
In order to receive a filing date, the provisional application must contain a written description of the invention that complies with all requirements, and any drawings that are necessary to understand the invention.
For complete information on how to file a provisional patent, fee changes, and what is required, go to: http://www.uspto.gov/web/offices/pac/provapp.htm
Oklahomans Turn their Creative Ideas into Successful Inventions
Silly Bandz: A Profitable Fad
Silly bandz, colorful rubberbands formed in the shapes of various animals, have been the latest trend among the elementary school crowd, and according to Robert Croak, Silly Bandz founder, the bands have brought in sales of over one hundred million dollars.
While most fads, like the pet rock of the 1970's fade, Croak has plans to build a brand around this newfound craze, hoping to keep the momentum alive. Several experts don't believe it can be done, but I hope Mr. Croak proves them wrong and grows his idea into a strong business that will be around for awhile.
Even if the bands do turn out to be a fly by night product, 100 million is nothing to sneeze at. Mr. Croak has reaped enough financial benefits and hopefully sufficient experience to move onto a new adventure and make it a success.
Recession Inventions: Success Stories in Bad Times
Daddy Diaper Bags
NYC firefighter, carpenter and dad, Gerard Bonner, just added inventor to his resume with his creation of the Daddy Pak. Uncomfortable with toting around a diaper bag for his two boys, he addressed his own dislikes with the traditional design and then enlisted the assistance of other dads, asking for their input on what they would like to see in a diaper bag.
Bonner took those ideas to the worktable, along with the core design of a mountain biking bag and spent a year crafting and perfecting a masculine product that would offer, in his words, funtionality, style and comfort for fathers on the go.
Attracting a lot of interest, his first bag design in the Daddy Pak line is a hands free version that replicates the fanny pack. It eliminates the aching shoulder and keeps your hands free for assisting and interacting with your children. Looking ahead to line expansion, he plans to include a backpack, messenger bag and satchel style product, giving consumers more options. Bonner is also in the process of attaining license agreements with collegiate and professional sports teams to add their logos to the Daddy Pak. A full interview that covers Bonners design and invention process can be found in the 2010-2011 Inventor's Market.
His products can be purchased at: http://www.daddypak.com/
Inventor awarded millions in suit against Home Depot
Mr. Powell has since sued and instead of the 4 million dollars he was supposed to receive from Home Depot, the court not only ruled in Powell’s favor, but has awarded him a judgment of roughly 25 million dollars. An expensive lesson in integrity for Home Depot.
Interview with inventor of the CreaClip
The Iron is Hot
"Strike while the iron is hot." This is a great bit of advice that applies to more than a blacksmith hammering and reshaping the iron. This recession has roused the need for new ideas and corporations are hungry for concepts that will increase their bottom line, making this an ideal time for inventors and innovators to pitch their ideas to the big guys. Just keep in mind that due to the downturn the big guys will want to steer clear of a major investment, which means inventors should submit ideas that already fit into their current manufacturing program.
Innovators also need to look to the market. The present economy has changed the way America shops, and what they perceive as important, which will affect whether or not an idea sells. Consumers are currently cutting costs on entertainment, replacing high dollar pleasures with low cost fun and gravitating toward the purchase of inexpensive household comforts. They are also trending toward gadgets and applications for their homes and cars.
Keep in mind that inventors and manufacturers are not the only ones that benefit from new products and ideas in the marketplace, but it's also a very real way to stimulate the economy. So dust off your old ideas or create new ones and give it your best shot.
Artists & Writers
Creativity and innovation are broad, expansive terms and can't be confined to the box of invention. There are multiple avenues of creative expression and some of those take an artistic path rather than an inventive one.
If you are a visual artist, you might want to check out a website that provides income and exhibition opportunities for both artists and photographers: http://www.theartlist.com/ For the fiction writer, you can visit: http://www.wow-womenonwriting.com/contest.php to keep up to date on entering their quarterly flash fiction contests, where the winners are rewarded with monetary and other prizes, including publication of the winning stories.
The year was 1886 and Pemberton’s French Wine Coca was being sold by most druggists in Atlanta as a nerve tonic, headache remedy and stimulant. With wine used as a sweetener in the product, the government’s passage of prohibition would have dealt a death blow to Dr. Pemberton’s business if he hadn’t been quick witted and taken control of the situation.
His solution? Pemberton came up with the idea of substituting sugar for the wine, and as a result, turned out one of the most popular fountain drinks of all time. One hundred and twenty four years later, Coca Cola is still standing and is a multi-billion dollar company.
And my point is, you ask? Whether it’s government regulations, lack of funding, or other roadblocks getting between you and your bottom line, or distancing you from your dream, you have to get creative, inventive, brainstorming options to get around or over the obstacles. Ask for help if you must, but don't cave to the circumstances.
Whatever it is that you might be facing, give yourself a set amount of time to whine and lament and then shake it off and move forward.
Inventor's Eye
The USPTO (United States Patent and Trademark Office), has started a newsletter for independent and small entity inventors. This publication is offering tips on working with the USPTO and includes stories about average Joe invention successes. They are also currently looking for story ideas to use in their newsletter. If you are interested in more information, go to: http://uspto.gov/inventorseye/
Publish Your Jewelry Designs
There are a lot of great (beaded) jewelry designers/makers that come up with unique and stylish necklaces, earrings and bracelets. If this is you, or you know someone who does this, Stringing magazine is looking for original designs with complete instructions and photos to publish in their quarterly publication. Check out their website at: http://www.stringingmagazine.com/ For complete information on how to submit your designs, go to: http://www.stringingmagazine.com/stringing-guidelines.pdf
Trade Shows & Your Products
Exhibiting your innovation at trade shows is a great way to get your idea picked up by manufacturers or attract the attention of well known direct marketers like HSN and QVC. The catalyst for Debbie Meyer's success, owner of Housewares America, was when her product invention was discovered by QVC at an International Home & House-wares Show. This debut invention, known as the Kake-Kut'r, is designed to neatly slice pieces of cake and serve them up. Currently Debbie Meyer launches all of her products on HSN. House-Wares America, Inc., brings in revenue of $100 million annually.
Get Help Selling Your Products/Inventions
Commission based with a small commitment fee, Emory Day helps businesses, entrepreneurs, and inventors sell their products via e-commerce. You can choose the full package or specific areas you need assistance in. Visit their site: http://emoryday.com/
Mr. Breuer has invented a water saving device that recycles what is called gray-water. Gray-water is the waste water from showers and sinks that can be put to other uses.
How effective is your invention in water recycling?
Very effective. One to two showers per day provide about 100-150L of gray-water, enough for all toilet flushings (15 -20 times X 6L) per day so that the clean water is almost never used.
How does the process work?
A small 8 mm diameter, flexible rubber pipe and electric sensor is inserted into sink/shower/tub/washing drain, to draw the gray-water out with small electric pump and is filtered and recycled into a small tank without any changes to the drain pipes or flush-tank.
If gray-water is not sufficient or available the system automatically switches to clean water.
How easily is the device installed? Does it require any special expertise?
No special expertise is required once the determination is made where the best collection source for gray-water is located.
The electric pump and sensor must have 110/240 connection.
What can the recycled water be used for?
Flushing toilets or garden watering.
How frequently would the unit need to be replaced?
To avoid odors, gray-water should be disinfected and monitored periodically.
Standard toilet/pool disinfectants are used and changed 1-3 monthly.
Is this your first invention?
Yes, in gray-water recycling.
Anything else you would like to share?
I do not have the time or means to promote this product on large scale, but am very happy with few installations already made.
I would be happy to cooperate with anyone who genuinely believes in this cause and wants to develop it further.
To Learn more, or contact Baruch Breuer, visit:
http://www.waterstop-loss.com/
The Launch Hour
Launch is a weekly radio show for inventors and consumer product entrepreneurs to pick up tips and get professional advice from those who have gone before. Tune into their podcasts and check it out: http://thelaunchhour.businessradiox.com
Life Saving Invention
Jeff Rehman has found a better way. Jeff is a paramedic that wasn’t satisfied with the effectiveness of available intubation devices he had to work with, so he designed one himself.
After 3 ½ years of reworking and improving the design of the current oropharyngeal evacuation tool used to vacuum out foreign material from a patient’s airway, a prototype was born and the product successfully tested.
In exchange for royalties on each piece sold, Jeff struck a deal with SSCOR Inc. who will be marketing his new intubation device, the S-Scort S3, to emergency rooms, paramedics and hospitals.
Invention Radio
Have questions? Get expert answers and advice at http://www.gotinvention.com/main.php , a radio program for entrepreneurs and inventors. Check it out, Thursdays 8:00 pm EST or 5:00 pm PST.
Strange Idea=Big Profits
“Who would buy something like that?” Those were my exact words after watching an infomercial for something I thought was completely ridiculous. I won’t “name drop” the item in question, but I’ve read enough comments to know that I am not alone in my opinion, and if you're like me, you would be asking yourself, how did it make millions? Of course the right advertising always helps but there were obviously more than four million consumers that decided it was all that and a book-light and were willing to shell out their hard earned cash to order one or two or three or more of this product. Four million! And that was just in a four month time span. Not bad for a simple idea, huh? The making of millionaires from a single idea is not uncommon these days. How’d You Get So Rich? hosted by Joan Rivers, spotlights average people that have turned a basic product or idea into a profitable enterprise. Who knows, eventually there might be some brainy techies included in her cache of interviews, but one of her poor man turned rich stories includes the invention of a five chamber bubble wand; a plastic child’s toy…something the average Joe could have dreamt up. Many have gone before and proved that you don’t have to be an Edison to invent a useful or even a useless item….think Pet Rock….and be able to turn it into a successful venture. It’s a matter of stepping out and taking a chance on an idea, a dream, or a vision. Don't Get Scammed "There's a sucker born every minute," and with the advent of the internet that number is increasing. Even this particular phrase has scammed many, its origination erroneously being credited to PT Barnum. If you have come up with an invention or product idea, you should be cautious about who you approach for assistance. There are a number of disreputable companies that don't follow through on their promises and oftentimes bilk aspiring inventors out of their money. Before signing on with anyone always do your research. To check out complaints filed against invention promotion companies, go to: www.uspto.gov/web/offices/com/iip/complaints.htm It's no secret that we are living in difficult and uncertain economic times, and when the future looks so bleak, as impossible as it may seem for some to press in and continue, this is not the time to quit. In fact, there is never a good time to quit. Cheap Lessons from a Thong During my brief venture in the underwear industry, I learned a valuable lesson and it only cost me a strand of twine, a printed brown paper header card, a plastic bag and a postage stamp to figure it out. The lesson? You can have a product idea that appeals to a large number of potential customers, but it isn’t going anywhere if it won’t make the retailer enough money. In simple terms, my idea was too cheap.
Inventions & the Recession (link)
Just hearing these crazy success stories makes me want to go out and invent something new. Maybe you already have an idea for an innovative product or procedure that the rest of us might be missing out on or just plain want to laugh at. It may not make you millions, but it could be the extra cash to cover the monthly car payment or take a nice family vacation. If this is you, don’t let it sit there, who knows what might become of it? You could be the next one Joan Rivers interviews.
A good resource book on this and other invention matters is: 20 Questions to Ask if You Have a Great Idea or Invention, by Michael Jester. Available at Amazon.
Never Quit
We have some prime examples of success from those who have gone before in what we all know as the great depression. Not only did many businesses prosper during that era, but a number of them, such as Proctor and Gamble, are still operating today because they continued to advertise, to sell, and to meet consumer needs.
In the midst of the economic decline of those days, creativity and ingenuity did not die, but spawned new creations like Scotch tape, pantyhose, the well known board game, Monopoly, baby food, drive in movies, Superman comic books, road reflectors, and the movie classics, Gone With the Wind, Snow White, and the Wizard of Oz.
You may need to revamp, revise or start something altogether new, but even in tough economic times, there will still be needs to meet and a purpose for products, businesses, and inventions. So instead of allowing discouragement to weigh you down, remember that this too shall pass, and rise to the challenges set before you.
Move over fruit guys, it’s jute of the loom, thong underwear for rednecks…..Made from all natural, 100% jute. Okay, it was a wacky idea I came up with, but it was a simple prototype to make and package. People got a good laugh out of it. I even had someone volunteer to model it….Ewww, bad visual. But, I thought it was funny and so did a popular retailer. They called me and expressed their interest. For a minute....
Another company I contacted got a kick out of it too, but if it was up to them, and it was, there would be no rednecks picking twine from their backside any time soon.
It isn’t the cost of the components of the product that matters, but the value of what those components comprise in their final state. You can throw together some inexpensive plastic and a few other parts and still create something that is worth more than the parts involved, like a computer. But if the value of the end product isn’t much more than the combined parts, like my thong, it can’t be marked up enough to justify the retailer carrying it.