With many companies reducing work forces, many capable people find themselves between jobs. Often times they have an idea or concept that they have been refining, but without the time to finish and take to market.
The biggest mistake people make is that they invent a new product in a new product category. This is a very challenging situation that in almost all cases leads to failure.
The best approach if your goal is success and revenue is to develop a complementary invention, one that improves an existing product, but with new, IP protect-able features.
To achieve this, however, there are several steps one must take. First, become an expert in Patent searches. If you do not know how to use the USPTO database, take a class or hire a consultant to teach you. This is key as many things people think of already have issued IP.
Second, focus on an area where you are a top expert. Some call it a 1%er, your knowledge is in the top percentage in the field.
Third, start an invention notebook. Even very smart people forget a high percentage of things they think of.
Every day, start by dating the page, reviewing prior thoughts and add refinements.
Fourth, become good at observation and human factors. If you do not know what this is, buy a book.
Fifth, research and hire a top IP professional. If you want to be successful you must file and receive a patent.
Photo by USPTO.