Welcome To V6Mustang.com!

We are the oldest and largest V6 Mustang forum on the internet. If you have any questions about your V6 Mustang or just want to connect with other V6 Mustang owners around the world, you have found the best place on the internet to do that.

Registering is free and easy! Hope to see you on the forums soon!

How do you make money on product ideas?

Discussion in 'Off-Topic' started by Saddleup, Sep 25, 2009.

  1. Saddleup

    Saddleup Huge Member

    Joined:
    Dec 4, 2001
    Messages:
    12,920
    Likes Received:
    1
    Trophy Points:
    36
    Location:
    ks
    I have a bunch of ideas for new products but don't know how or if I can profit off of any them. I have no engineering background to build anything. Also, I have no money. :eek: Is there any way I can get rich off of my ideas? :(
     
  2. Domingo

    Domingo LT's on a vert

    Joined:
    Nov 25, 2005
    Messages:
    16,341
    Likes Received:
    2
    Trophy Points:
    48
    Location:
    VA
    If you think they will really sell, you need to pitch it to an investor and hire someone with engineering background to build it.
     
  3. Derick

    Derick Best Of The Best

    Joined:
    Feb 15, 2004
    Messages:
    52,142
    Likes Received:
    1,985
    Trophy Points:
    123
    Location:
    DL
    talk to a patent attorney.

    i used to be big into coming up with new products. i had multiplie notebooks, and scaled design/spec sheets.

    it was mainly just a hobby, and i only acted on it a few times.
     
  4. kidzstang

    kidzstang IDKJS

    Joined:
    Jul 9, 2003
    Messages:
    3,143
    Likes Received:
    0
    Trophy Points:
    46
    Location:
    York, PA
    I have done it. If they take engineering analysis and design I would suggest you find a family member or friend who is one that can help out. Figure out the designs and marketing strategy. Try to complete a market survey. Find a few customers who may want to try the things out and test them then fix the issues with the prototypes. Develop the marketing plan, business model and start cashing checks from all of your sales (the last step is kinda dependent on all of the other steps and of course very dependent on demand).

    Family and friends are much easier to work with than outside investors who will seek to make/take/steal the bulk of your achievements.

    I will say that many people who think they have great ideas end up bombing because umm the ideas weren't all that great or they didn't have the conviction to bring them to light.

    Oh, patents are really over-rated and expensive for the average Joe, once you get a hit you can worry about that stuff. Unless you have this very very very specialized or revolutionary thing I wouldn't worry about it - yet.

    The other side of the problem is that you will need to make sure you aren't going to make something that is already patented. For that just use common sense instead of patent searches until investment requirements or income levels reach a level to warrant it.

    Just my 2cents.
     
  5. Alen

    Alen New Member

    Joined:
    Apr 28, 2009
    Messages:
    1,270
    Likes Received:
    0
    Trophy Points:
    0
    Yes you are on the right way depends on your idea. You can get rich but there are unspoken rules!
    Dont talk or tell the idea you got.
    Be carefull with to many informations. The best like mentioned before, would be a family member involved in this. Its a pitty you are not blessed with engineer skills. Because this could be at the end a problem...Like the engineer that helped you developing your idea...could end not the way you planned. Contract no matter with whom you work!
    Also try not to produce assemblys in one plant ...give only small parts of the assembly out...if it is a assembly. Try to find a guy who knows what Catia V5, Pro E, Auto Cad, SolidWorks is or try to get knowledge of these programs. Let you idea start to become physical first on the screen ..there you can check misshaps..kollisions and what not. After that process be smart enough AGAIN to be carefull withthe amount of informations you give out!
     
  6. K33NAN

    K33NAN New Member

    Joined:
    Jun 24, 2007
    Messages:
    484
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Ohio
    i might be able to help you out...pm me your ideas and i'll let you know if they're any good :thumbup:












    :uhh: