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6 Common Mistakes

Postby Impulse PD » Fri Jul 02, 2010 9:05 am

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Impulse PD
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I recently came across an article on Entrepreneur Magazine's website titled "The Top 6 Mistakes Inventors Make".

I think it's worth the read, and, of course, I was compelled to offer my comments in this blog article:
http://impulseproductdevelopment.com/re ... ntors-make

For your quick reference, here is the list:

Mistake #1: Expecting unrealistic results
Mistake #2: Failing to search the market early on
Mistake #3: Assuming everyone will want your invention
Mistake #4: Sending your idea--and your money--to an Invention Promotion Company
Mistake #5: Sinking all your money into a patent
Mistake #6: Lacking business acumen

Best regards,
Troy Mason
Impulse Product Development

Your Ideas. From Possibility to Production.
Visit us at http://impulseproductdevelopment.com

Re: 6 Common Mistakes

Postby Roger Brown » Fri Jul 02, 2010 9:34 am

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Impluse PD, I agree totally with those mistakes. Here is a listing I posted earlier on this site that may be helpful.

viewtopic.php?f=29&t=4145
Many Inventors trying to bring their product ideas to market are totally crushed by rejection. I have been getting a lot of emails from Inventors asking why they got rejected. So, I thought I would post the list below. It does not cover every reason you could get rejected, but hopefully it will give you something to think about.
You need to realize that inventing is fundamentally a numbers game! And many marketable ideas are rejected all the time. Even if it does not make sense to you that they would reject an idea that they agree would be profitable. Here are some common reasons why even marketable ideas are rejected.

1. The company may already have a full line.
2. The product is outside their target market.
3. You sent your submission to the wrong person in the company – don’t assume they’ll automatically send it to the right one.
4. You sent the idea without contacting the company first, and they rejected it solely on that basis.
5. You did not have proper contact information on your submission. ( That is one of the highest mistakes Inventors make. The company will not bother to track you down.)
6. They have too many similar products and that market is flooded enough.
7. Your idea appeals to a very small niche and they want mass market items.
8. The cost to manufacture versus return on investment is too high.
9. Your sales sheet did not WOW them, lacked consumer benefits information or was overloaded with to much information to sort through.
10. Your product has already been patented by someone else and they don’t want to see if they can go around it or risk infringement issues.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.

Re: 6 Common Mistakes

Postby tashma » Sun Nov 21, 2010 4:53 am

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I came across this list of common mistake made by inventors:

-They are stubbornly independent.
-They lack invention records.
-Many don't complete their inventions.
They don't plan.

Re: 6 Common Mistakes

Postby jackbnimble56 » Sun Nov 21, 2010 9:03 pm

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I know it's a numbers game, I know the odds are stacked against me and I accept the fact that rejection is going to be the norm. But what REALLY bothers me is all the pure, unadulterated CRAP that DOES make it to market!! Can any please explain to me how that happens??

Jack
Nimble Jack Enterprises - Innovative Solutions to Everyday Problems
To purchase the Magic Toob product visit: http://www.magictoob.com/