7 Common Mistakes That New Inventors Make

There is a saying that “everyone has a book in them.” This is probably also true of an invention idea. Of course, most people with invention ideas never take action. Once you do take action you will start moving down the invention process path to becoming a new inventor.

The 7 most common mistakes that a new inventor makes are:

1. Telling everyone about your invention idea.
2. Not understanding the invention process.
3. Not researching how to sell an invention in the target market.
4. Not understanding invention patenting.
5. Thinking their invention is worth millions.
6. Raising money from the wrong sources.
7. Not understanding where to go for new invention help.

Making these 7 mistakes can kill your invention idea long before you will ever see a profit from your thoughts and hard work.

The first mistake is telling everyone about your invention idea. This is the kiss of death. All of the great, and not so great, successful inventors tell very few people about their invention ideas.

One reason not to share your invention idea with too many people is that they may think that you are crazy. There are fewer visionaries and constructive dreamers in this world than you may think. It will be easy for people to tell you why your invention idea won’t work. Another reason not to share your invention idea is that someone who is knowledgeable and action oriented may steal it.

Most new inventors do not understand the invention process. They either miss critical steps or perform the steps out of order. Either of these can limit your ability to protect and profit from your invention idea.

Another common mistake that many new inventors make is not knowing how to sell an invention to their target market. Do their target customers buy directly from manufacturers or through a distribution network? What causes them to buy and what would motivate them to try your solution to their problem? If your invention idea does not solve a problem than it may be hard to sell it. The majority of inventions, some say over 80% do not sell well.

There are tons of stories about new inventors who rushed out to patent their invention only to have big bills and an eventual patent number to show for it. Not understanding invention patenting will test both your patience and your pocket book. Sometimes a patent is the worst thing that a new inventor can do.

Every inventor, at one point or another, has at least fleeting thoughts of hitting the mother lode with their invention idea. I have met and spoken with countless inventors over the years and they all thought the world just didn’t get it.

Maybe that’s true, but if you want to be a successful and profitable inventor than you have to have invention ideas that the world either wants or needs. In order for your invention to be worth millions, it has to be something that people will pay for. Be honest, what is unique about your invention and will people give you money for it?

Bringing a new invention idea to market costs money. Some new inventors are able to bootstrap their inventions and pay for them out of their pocket. Most new inventors seek invention capital to develop a prototype, complete testing, or market and sell their invention idea.

Getting money from the wrong sources can be the kiss of death for your dreams. The wrong money can be very costly in both financial and personal terms. Look before you leap and find out the pros and cons before you sign.

The final common mistake that most new inventors make is not understanding where to go for invention help. There are many firms and services that will take advantage of the new inventor.

There are numerous tales of new inventors being exploited and paying many thousands of dollars only to get boilerplate information and assistance when they are led to believe that eminent success is just around the corner – if they only send one more check.

These are the 7 most common mistakes that new inventors make. This list is not all-inclusive, there are many others. Hopefully you will avoid these mistakes as you continue to develop your invention idea.

Art Espey offers inventor education and invention assistance. Art can be reached at www.4steps2.com.

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