Can You Make a Living from Inventing?
Inventing takes time and inventors need passion and determination to get through the rollercoaster of highs and lows.
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PrintHow can you be a successful inventor? Can you make a living from inventing? I’m not going to lie to you: inventing is and always has been a numbers game. It’s not a lotto game that you might win. Inventing takes time and inventors need passion and determination to get through the roller coaster of highs and lows. You don’t have to quit your day job to be a successful inventor, but you do have to give it time. It’s like looking for gold – it’s there, but you’re going to have to turn over a lot of stones in the meantime. But thankfully, there are ways to do this without spending a lot of money. I cannot stress this enough: do not invest a lot of your money into your idea until you’ve received some solid indications that companies are interested in it. I’ve met too many inventors who have lost it all because they didn’t spend their money wisely.
Being a successful inventor means coming up with ideas that are simple but unique, ideas that don’t reinvent the wheel, but improve upon an existing product or solve a pesky problem. You don’t have to think outside the box, but next to it. Companies are looking for ideas! This is fun. Signing a contract with that first potential licensee and earning a little extra income will make it all worthwhile. And if you really are that successful and that passionate, you can invent yourself out of your day job one idea at a time.
Stephen Key is a successful award-winning inventor who has licensed over 20 products in the past 30 years. He is a board member of Accudial Pharmaceuticals, Inc. and has a new book "One Simple Idea: Turn your dreams into a licensing goldmine while letting others do the work," from McGraw-Hill. Along with business partner Andrew Krauss, Stephen runs inventRight, a company dedicated to education. Teaching inventors and entrepreneurs the skills needed to successfully license their ideas. You can listen to the weekly radio show on inventing.
One Simple Idea is available in book stores and online book retailers nationwide. When you buy the book you get access to our our database of over 1400 companies looking for ideas as well as other bonus materials. Visit www.inventright.com to learn more.
Being a successful inventor means coming up with ideas that are simple but unique, ideas that don’t reinvent the wheel, but improve upon an existing product or solve a pesky problem. You don’t have to think outside the box, but next to it. Companies are looking for ideas! This is fun. Signing a contract with that first potential licensee and earning a little extra income will make it all worthwhile. And if you really are that successful and that passionate, you can invent yourself out of your day job one idea at a time.
Stephen Key is a successful award-winning inventor who has licensed over 20 products in the past 30 years. He is a board member of Accudial Pharmaceuticals, Inc. and has a new book "One Simple Idea: Turn your dreams into a licensing goldmine while letting others do the work," from McGraw-Hill. Along with business partner Andrew Krauss, Stephen runs inventRight, a company dedicated to education. Teaching inventors and entrepreneurs the skills needed to successfully license their ideas. You can listen to the weekly radio show on inventing.
One Simple Idea is available in book stores and online book retailers nationwide. When you buy the book you get access to our our database of over 1400 companies looking for ideas as well as other bonus materials. Visit www.inventright.com to learn more.
