I have some ideas below which should help inventors considerably, and overcome many of the problems that they have. I would like to know your thoughts on these solutions. You are welcome to share my letter.
Many inventors including myself have done a business course and learnt many of the techniques in marketing and business management. However, I think that the main thing that would help inventors is a contact list of honest companies who are interested in taking on new ideas. It is very difficult for inventors on their own to find time to both design inventions and run their business as well, especially when they also have other important things to do in life. Many inventors have tried running their business as well, and then found it too much to handle. Trying to manage the business has often distracted them from working on their invention. This could cause them to fail to commercialize their product.
We need to find some good honest companies who are interested in helping inventors, and marketing their products. An email list could be formed so that inventors could email these companies details on their inventions. It would be good to gather a data base of people who can help inventors. We could work together to do a search for lists of honest companies, organizations and investors who are interested in helping inventors. These lists could be available on the Internet. Different organisations may have small lists. However, what we could do is combine the lists into one large list. The list would only include the small percentage of companies or organisations that are interested in helping inventors, or manufacturing or marketing their products. The companies or organisations should only be ones that have proven themselves to be honest and good to deal with.
The lists should not be given to irresponsible people that could send inappropriate material or spam to the lists. The society that we could form or join to help inventors could send the inventor's letters on to the lists to save giving the lists out to all the inventors. I am not sure if you have such a list or if you know of one. The lack of such a data base has caused many inventors to fail, because they have not known who to turn to for help. Also, many inventors have sought help from companies or organisations that are fraudulent.
It would be good if we could find volunteers to maintain the lists of contacts that can help inventors. These lists would save inventors a lot of time searching. Many inventors would be doing similar searches to each other. If they could work together and share their contacts, it would save many people doing long searches for the same things and making the same mistakes. Currently, many inventors are independently searching for the same companies or organizations to help them. This is very inefficient. A lot would be gained if they could only work together.
It would be important to target the correct industries that are relevant to the field of the inventions to avoid companies being swamped by a lot of irrelevant emails. Therefore, any lists would have to be categorized to enable inventors to target a particular industry. Targeted industries would have people who are experts in the field of the invention. They would be able to provide a good assessment. Their feedback would be a gauge of the amount of interest in the product and it would give an idea of the viability of the invention. This feedback could also provide suggestions for improvement. This would save companies that specialize in helping inventors a lot of time and expense in trying do the assessment themselves.
What is also needed is a list of honest companies that are the most effective and most economical at sharing a letter or advertisement from an inventor. Some research should be done to find which companies are the most effective at sharing a letter or advertisement with the most number of targeted people for the least cost. There are many advertising and mail out services. Some would be much more economical and effective than others. There are probably organisations or departments that have already researched which companies or organisations are the most effective at promotion. It is just a matter of finding the results of the research. It would be good to be able to work together to do this.
Many inventors are not well off financially and cannot afford to pay too much money to companies that can help them commercialize their product. Inventors are also wary of companies that are asking for upfront money. Many inventors have had bad experience with companies wanting money, which let them down in the past.
Another problem inventors have is the amount of time and expense required for them to apply for grants. The forms required for the application ask inventors a lot of questions which are not relevant to their invention, or ask questions that are already answered on their website. This means that they may have to reword a lot of things that they have already explained. This is rather daunting and would turn a lot of inventors off from seeking help, especially when they are already aware that only a very small percentage of inventors receive grants due to the limited amount of money available.
As mentioned above, many inventors with great ideas are not experienced in business, and do not have time to be involved in it. Yet many of the applications require a detailed business plan. The detailed business plans that are demanded require a lot of unnecessary information such as profit forecasts which are hypothetical. People in the targeted industry should already know how the business plan should work. So I cannot see the point of inventors having to do them.
All that should be required from an inventor to apply for a grant is a brochure or a website explaining the below.
1. The advantages of their product over others.
2. Examples of people or industries that could use their product.
3. The price the product would need to be sold for to gain interest in the targeted market.
4. The problem that the invention solves, or the amount of time, money and resources that it should save.
A serious inventor should have this information already listed on their website. So little more should be required for grants and assistance apart from an assessment of the invention by experts to ensure that it is viable.
If we could form or join an Inventor's Assistance Society that implements these ideas and freely helps inventors a lot more people would be helped. More people with great ideas would seek help, and as a result, more of these great inventions would be commercialized. These inventions could then generate a lot of money that would be partly directed to funding the efforts of the Inventor's Assistance Society. If such a society could be formed, it would have a chance of government funding. It could also lobby the government for funding. The Inventor's Assistance Society could charge a commission to inventors, instead of up front fees.
What do you think about these suggestions?
Are you able to help in any of the above ways or do you know who may be able to?
Please make sure that you have seen the home page with more suggestion and links at advantagein.com/inventors
Click here for more ideas and a letter that you can share.
I have other unrelated websites, community groups, ideas and rare information to help people. They are briefly summarised at advantagein.com/community.htm They include plans for groups to research and compile a list of what is better than is currently normally seen. e.g. the best products to solve our problems; data bases of reputable and fraudulent companies; a list of the best forms of promotion; concise summaries of important information; information on extraordinary people willing to support community projects.
I would appreciate your feedback and help. Are you able to swap links or share any letters that I could send you?
Your help will be appreciated,
Regards Richard Hole.
Please give some feedback - Click here for email address.