Collaborating From The Start
Setting your ego aside, there are so many steps in the business side of inventions that it’s usually impossible for a solo operation. There are invention companies like InventHelp that provide planning and resources for newbie entrepreneurs.
You will also need to get hooked up with the right manufacturer, and perhaps an attorney to help with the intellectual property side of things. There may also be venture capital groups interested in your project and it could be a financial boost to take it well beyond your expectations.
Recruiting Talet
Taking a look at successful garage startups like Hewlett Packard, Google, or Apple, it’s inspiring to think you can do so much with few people. This isn’t always the case when creating a startup company nowadays, you may need to hire some fresh talent to join the company.
Some things to keep in mind when hiring:
- Have your company’s vision clear and thoroughly explained to candidates.
- Be engaging during interviews.
- Hire for their passion over credentials
- Be mindful of a scalable hiring plan for the future.
- Promote job listings far and wide, and don’t be afraid to spend a little.
- If the local talent pool is small, consider hiring remotely.
With modern tools, you only need a few solid employees to make your operation more productive.
Have a Working Product
Ideas are in abundance, but working prototypes is a huge power move for your invention. If you make Youtube videos, event presentations, or pitches to angel investors, you better have something to take with you.
While you can build something on your own, you are probably better off working with a third party manufacturer for even prototypes. You may also feel more comfortable consulting with an invention company to get hooked up with someone to make your prototype.
Intellectual Property
An invention is a solution to a problem, and others would love to replicate it to make a profit. By formally filing a patent, you can protect and control the commercial usage of it.
Once it’s set in stone, this puts you in the position to either control this niche by offering your product or service. It also allows you to make money by leasing it to larger companies and taking your percentage. There are many patents in the system that are being used solely for that purpose.
Of course, you will also need to do your due diligence by figuring out if your application has already been invented. In the United States, you can check out the USPTO search engine to find anything remotely similar.
Coming up with an idea is minuscule if you aspire to have a successful startup. Then if you have a brilliant, commercially viable invention in mind, consider the tips above before forming a company around it.
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