Learning how to come up with good invention ideas that are within your budget to prototype and manufacturer is not always an easy task.
The truth is that I have been an inventor for more than twenty years and even I sometimes don’t know how to come up with good invention ideas. It really is a matter of trial and error combined with a little knowledge of the potential marketplace.
Product Ideas You Can Invent
- Pet Related Products
- Camera Accessories
- Automotive Accessories
- High Priced Technology Products
- Hunting Gear
- Scuba Diving related products
- Boating Accessories
- Golfing Items
- Sporting Goods
- Camping Gear
- High End Household Items
- Motorcycle Accessories
- Bicycle Equipment
- Work Out Equipment
- Construction Equipment
- Tools
- And there are hundreds more categories you can explore.
Find Markets With Money
Just remember to choose a niche market for your invention that has a customer base of people willing to spend money. This video helps explain how you must consider the market first and at what price you can sell your inventions. If there isn’t much profit on each unit you make, it is very unlikely you will be able to stay in business! Yes, you can make up the difference by selling large quantities but for the first time inventor, this may not be a realistic way of looking at things. It’s better to just create products that can retail at higher prices.
Identify The Market First
That’s right, you find the marketplace where people are willing to spend real money on each product. That’s usually somewhere between $150-$300 per item in my experience and then you invent products for those customers.
You can find lower retail priced items to invent but remember that you will need to sell twice as many $50 items as $100 items and four times as many $25.00 retail items. If you sell products with an average retail price of $300.00 it won’t take many sales to get to a million dollars in revenue. That is if you leave yourself enough profit margin on each product you invent.
As an example, here is a $149.00 retail science project that I invented. The Sonic Levitation Machine is a simple electronic device that only took me a few weeks to design a build. More information on the process can be found HERE.
This is a new way of thinking when you learn how to come up with good invention ideas and not everyone will agree with me. Just make sure you ask people who have actually invented products and made money like me before you brush off this advice. in this world of easy loans and wall street investment it is easy to mistake highly funded but loser ideas for successful inventions. Without a profit-driven business model, it won’t be long before many of these companies have their lights turned out and their computers, desks, and chairs hauled away. It happens every day. That’s what separates the real inventors from the dreamers. Sure you may have a great idea for some new clothespin or potato chip bag closer but keep in mind that those products are easy to copy, sell for pennies and leave little room for profit even when you may have the potential to sell millions of units of the product you invented.
Invention Truths
Getting your idea out of your head and into your hands is only the first in a long set of steps towards becoming a successful inventor.
How to come up with good invention ideas is a bit more complicated than simply having an idea and filing for a patent if you plan to make any money with your invention. DO NOT get fooled by all those people and invention companies telling you that they will help license your idea to industry. In most cases, it will never happen and they will just take your money and leave you with what you started with…. just an invention idea and no final product or prototype.
Are you ready to become an inventor?
Getting your idea out of your head and into your hands is only the first in a long set of steps towards becoming a successful inventor.
First Steps To A Successful Invention
At Invention Therapy, we believe that the power of the internet makes it easier than you think to turn your invention idea into a reality. In most cases, you can build a prototype and start manufacturing a product on your own. Changing your way of thinking can be difficult. Being an inventor requires you to balance your passion with the reality of having to sell your products for a profit. After all, if we can't make a profit, we won't be able to keep the lights on and continue to invent more amazing things!
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