This may seem a bit unusual that someone wants to be an inventor but doesn’t have any good invention ideas!
You will be surprised that is more common than you think. There are plenty of people in the world that love building things and have the talent to create great products that people would want to buy. The problem is knowing which products offer the most potential for starting a successful business online.
Coming up with great invention ideas just takes practice!
You may not get it right the first time or even the second. The key to success is simply to keep trying until one of your ideas passes all the tests on our invention check list. If you are still having a hard time thinking up a good idea, here is a list of potential markets that are popular for online sales.
Remember, Invention Therapy believes you can build and sell your own products. Part of your job will be building websites and marketing on the internet. Building the actual products or finding other people’s items to sell is only a small part of the skills needed to be a successful inventor.
Great invention ideas with large market potential.
- Science Experiments.
- DIY Electronics Kits.
- Drones and Accessories.
- Grooming accessories.
- Health Related Items.
- Motorcycles and Accessories.
- Boating Related Items.
- Custom Furniture.
- Household Items.
- Educational Items.
- Private Eye and Other Spy Gear.
- Photography Related Items.
- Hobby Kits.
- RC Cars, airplanes, boats and accessories.
- Bicycles and Accessories.
- Solar Power Related Items.
- Electric Vehicles and Accessories.
- Electric Scooters.
- Pet Care Items.
You don’t have to make products in the beginning!
Maybe your invention idea needs time to mature but you want to get started right now. The best thing to do is decide which category your invention or inventions will fall under and start building a website around products related to that marketplace. There are a few ways you can get started easily.
Here is an idea: Create a website that sells products related to your invention.
This is a great place to start and the time you spend here will definitely help you once you release your product. It only costs less than $20.00 to register and host a website the first year so you really have nothing to lose.
A few ways you could make money in your area of interest.
- Buy items on Ebay and resell them on your website.
- Purchase items from Alibaba and sell them on your website.
- Contact manufacturers and sell their products on your website.
- Sell products on your website using drop shipping so you do not have to stock items.
- Resell products on your website using affiliate marketing.
If you remember from our inventor’s check list, a product must have a high enough sales price point make selling worth our while. With affiliate marketing, that price margin is even more difficult to reach since you are only getting a small percentage of the sale. Many times this commission is only four to eight percent of the sales price of a product. That isn’t a whole lot of revenue unless you are selling a few dozen items per day or more.
Grow up! Your idea has NO VALUE!
I hate to break the news to you but it is very unlikely that someone is going to invest in your idea. Unless you have a track record of invention success, your idea is worthless. We all have ideas but only a few of us know how to turn them into profit making realities.
Start by building small, low cost inventions.
In this video, we discuss some interesting invention ideas you can make with a laser cutter. Laser cutting, engraving, logo embroidering, key chains and other novelty items are just a few simply ways you can get started as an inventor. Once your sales start to grow, you can build your business from there.
Be realistic and grow your business. You will have a much greater chance at success.
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Here are some other pages that may inspire you.
Are you ready to become an inventor?
Getting your idea out of your head and into your hands is only the first in a long set of steps towards becoming a successful inventor.
First Steps To A Successful Invention
At Invention Therapy, we believe that the power of the internet makes it easier than you think to turn your invention idea into a reality. In most cases, you can build a prototype and start manufacturing a product on your own. There are a few key requirements that your invention must meet on this invention list before moving forward.
The most important questions that you must answer “yes” to in this invention check list are:
- If your product becomes a reality, is it legal to sell?
- Will the product be safe to use?
- Does it solve a problem or is it beneficial in some way?
- Can it be sold at a price that will be worth my time and effort?
- Can the prototype and first one hundred units be manufactured at a reasonable price and initial cash investment that I can realisticaly afford?
If you can answer “YES” to all the previous questions on the list, it’s time to move on to the next steps.
Does Your Invention Idea Have Market Potential?
Just because you may know how to come up with good invention ideas, the next important questions to ask yourself is related to the potential marketplace for your product. There is no point in investing time and money into a prototype and final product if there isn’t a significant amount of money to be made from your idea.
- Is there a reasonable size market potential for sales of your invention idea?
- Although you may never have made a prototype or manufactured a product to sell, you still must do some simple research and determine if the product can be made at a reasonable cost.
- Once you have a very rough estimate of what the invention might cost to manufacture, it is important to know the potential selling price of the finished product. The sales price must be within a range that people would be willing pay but also one that is high enough to make you a reasonable profit.
Determining the sales price of a product is a complicated process but I have made this informative video that can help you at least do some rough calculations of the potential sales price. People don’t always agree with me on this one but I find that selling a product for two and a half times the cost to build it is a great price point to start. Watch this video and I will explain why I have always calculated my sales prices this way.
If your invention idea meets all of these requirements on our check list, it is time for you to start thinking about a design. We will be be discussing the next step which is just coming up with a simple sketch of your idea. I hope you learned something from our easy to follow inventor’s check list and will continue on to the next step.