Category Archives: product pricing

New Inventor Startup Kit

When I conceived my idea for a thin, flexible wallet invention in 2002, I was very excited about the potential of my invention. But, I had no clue what I should do first. So I found a patent attorney and … Continue reading

Posted in Capital risk, Culling ideas, Focus, Footprint, High profit margin, Invention, Keystone pricing, Licensing, Paths for your product, product pricing, Risk versus reward, Shelf space | Leave a comment

The Good Life – Successful Inventors

Everyone wants the good life, for themselves and their families. The frequently overlooked question is: what really comprises the good life? Is it about earning a high income or having wealth and a secure retirement? Is devoting time to family, friends, … Continue reading

Posted in American Dream, Annoying problems, Family and friends, Invention, Keys to Success, Licensing, Persistence, product pricing, Product success, Struggling inventor, The Good Life, Why inventors succeed, World's best job | Leave a comment

3 More Keys to Inventing Success

In last week’s blog, I described 3 keys to inventing success: Solve an annoying problem Retail Sales Price is Less than $20 Must Have a 4X to 5X Mark Up In today’s blog, let’s consider 3 more keys to inventing … Continue reading

Posted in Dollars per square foot, Footprint, HSN, Invention, Keys to Success, Product development, product pricing, Profitability, QVC, Ready to use, Wiling to reconsider | Leave a comment

Have a Great Idea? What to Do Now?

Every great invention begins first with an idea, an aha moment. Dealing with problems often points to unexpected opportunities. Not surprisingly, many invention ideas are solutions to annoying problems. Now that you have your aha moment, your great idea, what … Continue reading

Posted in Career success, Innovation, Invention, Invention failure, Keys to Success, Marketing, Patent Search, Patent strategy, product pricing, Success rates, Why inventors fail | Tagged , , , | Leave a comment

Invention Basics: 2 Myths and 2 Maths

Like most businesses, invention has its myths and its maths. Myths are beliefs that, while intriguing and enticing, simply are not true – they are myths. Maths are the opposite of myths; they are concepts that are intrinsically true, but, far from … Continue reading

Posted in Career success, Innovation, Invention, Invention failure, Keys to Success, Marketing, Patent Search, Patent strategy, product pricing, Success rates, Why inventors fail | Tagged , , , | Leave a comment

Inventing Basics: Price Points and Profit Margins

Inventing Basics: Price Points and Profit Margins This is the first post in a series of inventing basics – key focal points for the new inventor. Price points: cost to manufacture; wholesale; and retail sales price are crucial to the … Continue reading

Posted in Invention, Keys to Success, Keystone pricing, Marketing, product pricing, Profitability, Strategy | Tagged | Leave a comment

Successful Inventing from A to Z: G – Getting a Plan for Your Invention

In the previous post – D – Developing Your Ideas – we considered retail price points and the effects that higher (and lower) prices have on consumer demand and overall viability of the idea in the marketplace. In E – … Continue reading

Posted in Ideas, Invention, Keys to Success, Marketing, product pricing | Tagged , , , | 1 Comment