Welcome to my blog for successful inventing!
As a successful inventor, my goal is to help inventors, especially new inventors to navigate the rocky road of invention. I invented and have successfully commercialized Savvy Caddy thin leather wallets, my first invention (www.savvycaddy.com). My second product, in development now, is an innovative cat toy.
During the next 24 blogs, I will explore successful inventing from A to Z with 24 different blogs (no X or Z) covering topics such as ideas, invention, prototype, patent, licensing, building a business around your product, etc.
Three key concepts form the foundation of my approach to inventing:
- Ideas are not inventions; they cannot be sold, licensed or marketed
- Inventions are not products; they are blueprints from which products may be developed
- Only products can be designed, packaged, distributed and sold for profit
An idea is analogous to a canvas onto which paints and colors are applied in unique ways (an invention) to create a great painting (a product), which may be sold to the public. An idea has intrinsic value only in that, without it, there will never be a new product. But, unlike a product, an idea alone cannot be sold, licensed or marketed for profit. It is a rough outline of what might be possible, nothing more.
An invention may result from an idea that is successfully fleshed out into an innovative, yet practical form. When an invention is patented a form of property is created (intellectual property or IP) which may be sold, licensed or transferred to a different owner. A patent by itself is no guarantee of success as less than 5% of patent holders ever profit from their invention.
The focus should always be upon developing a commercial product that has value in the marketplace.
The next blog in the series will be: A for Acquiring Ideas. Thanks for your time and attention.