Starting Your Business
Starting a Business With an Invention
Written by Brenda Stokes for Gaebler Ventures
When you invent a product or an idea in order to make a profit, you are potentially providing customers with something unique. It is then that your invention can serve as a business model based upon your creativity.
Having a great idea can be the best tool to start a business and be successful.
When you have a business model that comes from your own mind, you have something unique that the consumer is going to recognize as unique when they see it. If it appeals to the buyer, then they will give you their money in exchange for what you are selling.
Think of this: Every necessity that we have such as electricity, air conditioning, television, cable, soap, toothbrushes and toothpaste, cars, computers, Internet, and all that we rely on started out as an idea. That idea inevitably became an invention and that invention revolutionized the way we live.
Because of inventions, we are able to take better care of ourselves, indulge once in a while, take a break from everyday life, get around better, and even live longer. You can inadvertently become an important part of the lives of people.
Coming up with an idea
When coming up with an invention to start a business, simply think of something that you wish you had in your life but can't find anywhere. There may be several items that come to mind, so write them down and then check the Internet to see if anyone has invented what you need. If they haven't, you need to copyright your idea.
To copyright your idea, you simply contact the U.S. Copyright Office and request a U.S. Trademark application. You can print this application online and then send it in with the $20 filing fee.
Implementing your idea in your business
Once you have your invention registered with the Copyright Office, you can then let the world know about it and use it as the basis for your business model. Everything you do will be based upon your business idea.
Your business idea may also be the basis for other inventions within your business. The more you come up with original ideas that you ensure stays your own, the more profitable you can be. This is why your initial invention should be your business model. It is everything your business is going to be now and in the future.
Starting your business
When it is time to put your business idea into action, make sure you have a business plan in place. This means outlining how you want the business to behave. You have a record of everything you need to make the business work, how much money it is taking to start the business, and how much of a profit you hope to achieve.
Through your business plan you will outline how your invention or inventions will make your business a success and set small goals to reach the ultimate goal you hope to achieve. The ultimate goal is financial independence and the satisfaction you receive when you start a business.
You get even more satisfaction when it is your idea, your invention, that brought success to your life.
Brenda is a graduate of California State University and a professional writer covering a variety of business topics. To learn more about Brenda, check out her website at The Digital Inkwell.
Share this article
Additional Resources for Entrepreneurs
Conversation Board
We greatly appreciate any advice you can provide on this topic. Please contribute your insights on this topic so others can benefit.