When to build a prototype? Honest guide to profitable invention

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Stephen Key, co-founder of inventRight, loves building prototypes. He even studied sculpture! Is there anything more magical than seeing something you invented come to life and being able to touch, feel, taste, smell, see and play with it? No. But if you want to make a living as an inventor, you have to be smart when you're asked to prototype. Because if you think you have to build a prototype for every idea, you'll go broke! He shares pictures of his original prototypes that then became products on the market.

Successful inventor Stephen Key advises you to focus on selling the value of your idea first, using a sales brochure. Then, if there is interest, they will ask you for a prototype! They will want to see a proof of concept. This is a great question because it shows they are interested. Tell them yes and ask: What type of prototype are you looking for? Some prototypes are much more expensive than others.

He offers advice on who to hire and who to look for if you need help with prototyping. You need someone who has experience in manufacturing! If your prototype can't be manufactured, what's the point?

The road to licensing a profitable, innovative product or technology is full of twists, potholes and rugged cliffs, so who can you trust to give you an honest guide to profitable inventions?

Every year there are people who claim to be experts in the field of innovation and licensing, even though they have never licensed an idea or even profited from one of their own ideas. These people will tell you that you need a patent and a prototype. But is that really true? Is there another way?

Let Stephen Key, author of One Simple Idea and product licensing expert, show you a smarter, safer way to monetize your invention and avoid sharing your hard-earned royalties with anyone else. Stephen Key is a successful inventor who has licensed dozens of his ideas for products, from simple novelty gifts to complex packaging label solutions. After teaching himself how to license his ideas for products, he has dedicated 20 years to teaching creative people around the world the same 10-step process. No one in the inventor industry has more success with licensing, saving you money, time and hassle.

Inventors, keep this confidential. This will put the odds back in your favor! According to Inventors' Digest magazine, while 78% of new inventors believe they will make over a million dollars from their inventions, less than 1% actually do. What does it really take to be a successful inventor time and time again? Education.

Inventors face many challenges today. It always has! You need to know the warning signs and be careful when individuals or companies ask for money up front for their coaching or marketing assistance services.

Stephen Key and Andrew Krauss are the world's leading experts on licensing a product idea. If you have an invention idea, this is the show you should watch. Steve and Andrew are the co-founders of inventRight, a coaching program that has helped people from over 60 countries license their ideas for new products. For more information and to join the one-on-one coaching program, visit http://www.inventright.com.

If you have questions about inventing, creativity, design, market research, prototyping, manufacturing, negotiating, pitching, selling, cold calling, approaching open innovation companies, licensing agreements, non-disclosure agreements, patents, copyrights, trademarks and intellectual property in general, subscribe to inventRightTV! New videos every week, including tons of entrepreneur success stories.

Inventing can be lonely, but you don't have to do it alone! Join the inventRight community and benefit from invaluable inventor education, mentoring, support, accountability, help, honesty about the inventing industry, and more.

Read Stephen's books:
“A simple idea: turn your dreams into a licensing gold mine and let others do the work.” http://amzn.to/1LGotjB.

“Sell your ideas with or without a patent.” Find it here: http://amzn.to/1T1dOU2.

/"Become a Professional Inventor: The Insider's Guide for Companies Looking for Ideas/": https://www.amazon.com/gp/product/1653786256/

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