You’re a brilliant inventor but your ideas haven’t turned into money yet. You know what’s possible but when you find yourself saying, “I have an invention idea but no money,” it can be very frustrating.

It seems that everything you need to do needs money. Don’t get discouraged because there are things you can do to get started on your journey to becoming an inventor extraordinaire.

Continue reading this article to find out the first steps you need to take.

I Have an Invention Idea But No Money

While people often paint being an inventor as a very glamorous job, that isn’t always the case. You’re always thinking, learning and trying to figure out how to make your creation work.

Once you have “the” idea and you’re ready to run, that means more hard work. Whether it’s creating an app that companies like Nizek help with or you’ve got a new idea for a car of a future — it’s not going to be easy or cheap!

Just Get Started

It’s easy to get lost in all of the things you wish you could be doing to get your invention off the ground and to forget what you could be doing right now.

Document

Anyone can have an idea but you need to be able to prove that you came up with the idea before anyone else.

To make sure that you can prove that you came up with the idea, you want to write down as much as you can about your invention. Make sure to date any of the papers.

Don’t think that you can date a paper and people will take your word for it. You can do what is called the poor man’s patent. Put the papers in an envelope and securely seal it and mail it back to yourself through certified mail.

You keep that letter in case anyone ever says they came up with the idea first.

Make Sure It’s Going to Be a Hit

Just asking a few of your friends for their opinion and getting a thumbs up is not market research. You need to make sure that the market is going to be ready for your product.

If your product is too late or too early — both are bad. You need to hit the sweet spot that will allow you to provide the people with what they want when they want it.

Create a Prototype

You need to create a prototype of your invention. You’re basically bringing all of the things that you documented to life. This prototype will allow people to get more of an understanding of what your vision is and how it is going to be a hit.

You shouldn’t file a patent before you create a prototype. As you’re creating the prototype, you’ll be able to come across any flaws that your invention has so you can fix them.

If you aren’t sure about how to create a prototype, you can check out various books on the topic.

File a Patent

Now it is time to file a patent once you’ve worked out any of the kinks and you have a fully functioning prototype.

You should know that there are two types of patents. One of these is called a utility patent and the other is called a design patent. 

Utility patents are for new processes or machines and a design patent is for manufacturing new and non-obvious designs.

You can go through the paperwork yourself but it is a good idea to get a patent professional to look over it and make sure everything is airtight. You don’t want to lose out on big bucks on a technicality. 

Market Your Invention

The marketing of the invention is where things can get really expensive and since you have no money, you might think you’re at a standstill. The good news is that there is still hope.

Put together a business plan and lay out your best plan to market the product. Write the plan as if you had your marketing wish list. Now you need to go out and get the money.

Getting the Money That You Need

While you don’t have any money, there is always someone that does who is looking for an opportunity. The main ways that you can get money to get your invention off the ground is investors and inventor financing.

Finding an Investor

If you want to find an investor for your invention, you’re going to have to get good at pitching and explaining your product.

You’ll also have to be ready to give up a piece of the company. You’ve seen shark tank before, right? While not all investors are as much of sharks as those guys, you’ll find it isn’t too far off.

Using Inventor Financing

Another option is inventor financing. Depending on your personal credit and other factors, you may be able to get inventor financing. Make sure to check for government programs that are available such as small business loans.

Some people find out they don’t need any financial backing because their inventions do well without outside help and little paid marketing to start. Once profits start to come in they simply pour them back into the business.

Creating a World-Changing Invention

If you want to create a world-changing invention, you’ll have to get past the “I have an invention idea but no money” phase and get to the “I did it anyway” phase.

Continue reading our website for other important information that will help you advance in your life and your business.

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The Unbreakable Rules of Social Media Marketing

The buzz surrounding Social Media Marketing would seem to suggest that it is the ideal way for any individual or business to increase their online presence.

Now, Social Media Marketing (SMM) firms are springing up like mushrooms and devotedly spreading the message of the importance of social media like Facebook and Twitter.

But is this form of marketing worth the hype? One thing is for certain; social media has now indeed become a favourite choice of platform for marketing a plethora of products and services.

But to succeed in the highly competitive SMM arena, one has to go far beyond the so-called tried and tested methods of “community engagement” to turn the marketing campaign into a success. This is where the golden rules of marketing come into play.

The unbreakable rules of social media marketing

So what are the fundamental rules that can lead to a successful SMM campaign? These are not overly complicated or time-consuming methods, but simple ways that are often ignored by marketers.

Rule 1: Content is king

Yes! Marketing on social media is unlikely to succeed by posting fluff content with little or no value. To gain attention from the audience, your content needs to be unique and through provoking.

The ideal way to engage the audience while building your brand reputation is by posting quality content on a regular basis, which is not just a collection of information from other websites.

Try to match your content to your product and your market, as this will have the most chance of being well received by your audience as well as generating revenue.

An example, this post on The Canvas Factory blog, about photographic techniques. Great match to the product and the audience, no doubt it performed well.

Rule 2: Listen more

Far too many social media marketers are involved in making posts on such a frequent basis that they forget listening to the feedback of their audience. Y

our marketing campaign will fall flat on its face if it does not aim to build a rapport with the public and fails to deliver what they want. It’s very easy to buy likes on Facebook but getting people to participate on posts or conversations is an entirely different ballpark.

Rule 3: Be genuine

You’re probably saying to yourself “what’s up with all these clichés?” but this rule is as important as any other. You would want your marketing campaign to be community driven and genuine in its approach.

What does this mean? It means you’ll have to interact with the audience as a human and not a corporate gizmo. If you truly want organic likes and followers, your marketing strategy better involve prompt replies and round-the-clock help.

A great example of failing to be genuine can be found in the ‘Fresh in Our Memories’ promotion from Woolworths on Anzac day. Huge backlash, huge miss.

Rule 4: Expand your reach

Don’t just put your all your money on Facebook, Twitter, and YouTube because there are dozens of other social networking sites that you can leverage.

To make the most out of your Social Media Marketing, utilize different platforms like Instagram, Pinterest, Google+, Tumble, and others. You may be shocked when you find out how much all these lesser known social networking sites can contribute to the growth of your online presence.

Rule 5: Give it time

If Rome wasn’t built in a day, you shouldn’t expect your brand to be known throughout the world at the same time. No, you’re not building a city but what you’re doing is going take time and effort.

An effective SMM strategy always focuses on attaining long-term results and seeks to establish a reputation by consistent service. If you can prove that your business is trustworthy, followers will automatically increase.

Final words

If you follow the five unbreakable as mentioned above with a passion and have the presence of mind to adapt to changing scenarios, it shouldn’t take you long to establish your business as a reputed online identity.

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