Inventors Need a Money Tree!

Wouldn’t it be wonderful if you had unlimited financial backing when trying to get an idea from mind to market? Imagine how many more great ideas would see the light of day on the market if that were true. Seriously, inventors need a money tree!

Funding Reality

Funding is one of the greatest obstacles facing the independent inventor. I hate it when inventors come to me after they have just been throwing money down a black hole. It happens all the time.

While you can correct most mistakes in the inventing realm with more money, most inventors don’t have unlimited resources or family backing. That means that rebounding from mistakes can be hard so it’s best to avoid them altogether!

The best way to avoid the black money hole if you don’t have a money tree is to download and follow the Inventors Galaxy Guide.  This will help you determine the costs and what you are willing to spend and options before you have wasted money and made costly mistakes. 

You can find it here: http://www.inventorlady.com/inventors-galaxy-guide/

Minimizing the Financial Risks

So what can you do to minimize risk?

1. When you do your own searching, be honest with yourself.  Really look for competitive products.  Most inventors have blinders on when they search for other products in the marketplace.  Don’t do that.  Be tough on yourself.  It could save you a TON of money. 
2. Don’t search just the USPTO patent database and assume you have it all.  This is a mistake.  There is a 2 and a half year blind spot. 
3. Don’t use just google patents.  While it is a good tool, the actual searching mechanism is weak and you will only find about a third of what is there.
4. Remember that there has to be an international component to your searching.  If your product has been done anywhere in the world, you will not be granted a US patent.  This has nothing to do with where you plan to sell and everything to do with prior art. 

When you are done with the searching you are willing to do, get an independent comprehensive search done.  It might very well be the best money you spend in this process for a variety of reasons.  The most important is to give you a sense of what has been done before and what you might be able to do next.

So What is the Best Funding Option?

The closest thing to a MONEY TREE you will ever find is Archimedes’ Offspring.  Once you have the comprehensive search and the patentability opinion, you can apply for the funding from AOS.  Then we pay for the early stage expenses all the way to launch.  There’s that MONEY TREE!!