When it comes to monetizing your inventor ideas, there are a few steps you need to take. Writing your ideas down and doing market research are essential first steps. But once you've done this, it's time to find the right company to license your invention. InventHelp is an excellent resource to help you get started on the path to licensing your product. It can help you get started and help you make money with your new invention.
Researching inventor ideas

Before you begin developing a product or service idea, research the market for similar products or services. The market for a certain product or service is critical in deciding whether a product is viable for commercialization. It also helps you focus your product and avoid expensive mistakes. Here are some tips to consider when researching an inventor idea. You can also look at resources that offer helpful information, such as I've Tried That. Lastly, be sure to find sources that support your ideas.

Inventing something new involves solving a need or a problem for others. Your product or service could solve a specific issue that people face on a daily basis. For example, you could create a product or service that prevents someone from biting their fingernails or dealing with hairy clothes. You could also invent a product or service that allows you to connect with a loved one who lives far away.
Writing down inventor ideas

The best way to capture an inventor idea is by writing it down immediately. Many times, an idea will start with an already existing product or service, and then develop from there. The key is to write down every idea as soon as it comes to mind. Many inventors are trained to write quickly and capture their ideas as soon as they hit them. However, some ideas may not be feasible at that time. If this is the case, you might want to consider using an app to capture your ideas.

Another effective way to collect and organize your inventor ideas is to write them down in a notebook. Write down the concept, the design, and its marketability. If you are writing it down on paper, make sure it is bound and has consecutively numbered pages. Make sure to never erase any pages, and sign it with a witness. If possible, you can also add a date. When writing your idea down, you'll have a better chance of securing it in the future.
Preliminary market research

Whether you're looking to patent an existing product or developing a new one, preliminary market research will help you evaluate the current marketplace and find ways to make your invention more viable. With this type of research, you can explore potential market niches and identify competitors. You'll know where to focus your efforts when formulating a commercial strategy and can gauge whether your idea is a viable option. To get the most out of your market research, make sure to conduct a few surveys.

This initial research will help you determine whether there's a market for your product. It will also tell you how much people would be willing to pay for your invention. Invention development isn't an easy task. However, preliminary market research can help you determine whether your product has potential. Knowing how to price it, make it more palatable for the consumer, and evaluate the market will help you develop the best possible product.
InventHelp

If you've got an idea for an invention, but aren't sure where to start, InventHelp is a great resource. The company has over nine thousand companies in its database and a dedicated team that can help you take your idea to market. If you're an inventor looking to commercialize your idea, InventHelp can help you find a patent for it and make sure it has the best chance of success.

Many InventHelp resources are free to use, and many of them can even help you package and patent your idea. This service is ideal for those who are just starting out or don't have enough experience in the field. The company has a DataBank of over 9000 companies that have agreed to review the client's idea before deciding whether to pursue it further. The company's mission is to connect people with ideas that can help them create a successful business.
Angel investors

There are several factors to consider when seeking out angel investors to fund your idea. First, keep in mind that an angel investor usually has some business experience. Therefore, they will want a reason to believe your invention will be a success. Also, they will be looking for a business plan and a contract. A written contract is a good idea to ensure that you get what you ask for and don't make any mistakes.

You should be aware of the differences between angel investors and venture capitalists. Angel investors usually do not get involved in your business, but they will sponsor you in exchange for a portion of the profits from your invention. You can also contact local universities and chambers of commerce to get more information about potential angel investors in your area. If you cannot find angel investors through your local network, you should consider raising funds through crowdfunding sites. Some of the larger reward-based crowdfunding sites include Kickstarter and Indiegogo.