So what should your very first action be:

-Getting a patent, perhaps?
-Going on a fact-finding mission to manufacturers in China?
-Calling QVC?

While all these steps may be appropriate down the line, it's critically important that you first take action by shifting your thought process. I know what you're thinking. Thinking doesn't seem very actionable, does it? Maybe not, but over the years, countless inventors make devastating mistakes based on false beliefs and inaccurate assumptions.
For this reason debunking some common myths associated with inventing is important. Myths and misperceptions can be debilitating to your progress and costly to your pocket book. Although it may not seem very "actionable," it's vital to begin the inventing process with a realistic understanding of some of the basics for bringing an idea to market.

The following are among the most common myths:

Myth #1: The first thing an inventor should do is get a patent.

Truth: It's understandable why this is such a commonly held belief. The topic of getting a patent is so pervasive among the inventing literature, conferences, websites and tv commercials, it's no wonder that many people feel they can't move forward without getting a patent first. Many inventors spend 80 -100% of their initial effort and money on obtaining a patent because that is the myth that's been sold and supported by those who stand to profit from it. Certainly a patent can be a valuable tool later in the process, but you should first determine the viability of your invention as a business before moving forward. Remember that filing a patent has little impact on a successful product launch & cost $10,000 or more-so unless getting a patent for its own sake is your end goal, it doesn't usually make good business sense to apply for a patent first thing off the bat. Most importantly- if you file a patent first, then encounter overwhelming obstacles later on, you may have invested in a patent for nothing.

Myth #2: If I tell people my idea, they'll steal it.

Truth: The theft of a new invention idea is actually very rare. A lot of sweat equity goes into developing an invention and this is a big barrier to most potential "thieves." That doesn't mean ideas are never stolen. Keep in mind, copying and competition are facts in any business. However, once you have an understanding of how much work goes into taking an idea to market, you'll understand why most ideas are stolen only after a product's proven successful. It's like betting on a horse. You're more likely to win by betting on a horse with a winning record than you are by backing an unproven long shot. That being said, don't be careless.

Myth #3: My idea is worth a million dollars!

Truth: Earning a million dollars with an invention is less likely than making slightly lesser amount depending on the depth of your invention. Study the process, set realistic expectations, take action, work hard and you can find success, especially if you have more than one marketable idea.
 

Why use the Protomine Process?
The Protomine process was created to offer an alternative to expensive invention submission companies that offer so much and produce so little. Do the research and we know you'll see the difference.

What does it cost to develop a product?
Manufacturers follow a complicated and costly product development process called product lifecycle management (plm). This approach encompasses the complete lifecycle from concept design through manufacturing and disposal of a product. The typical cost for product development starts at around $100,000 for simple concepts and rises dramatically for more complicated concepts.

What are they promising you?
Organizations such as invention submission companies offer costly services promising to develop your concept for $5-$20,000 (a fraction of what it really costs) while delivering very little in return and producing very poor success rates.

The Reality
Paying high prices to outside companies to "develop" or "patent" your product is often unnecessary if you just want to license your concept. Ultimately the distributor incurs the real costs of development and in return offers a licensing contract. Your job is to present an appealing product presentation and deliver it to the right people!

The Solution - The Protomine Process!
In a nutshell, the Protomine process was created to help you create a presentation which represents and markets your design efficiently and effectively. Our proprietary process contains a complete checklist of items companies want in order to make informed decisions on whether or not to carry your product design. So forget about expensive invention submission companies and everyone else trying to take your money and do-it-yourself .

Questions?
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