If you have a million dollar idea and need some advice on how to get started, a new book and an inventor’s conference may be your ticket to booming business says 9News.com.
The Hoola Hoop, Crocs, Post-it Notes, The Snuggie – all simple ideas that turned into millions of dollars for independent inventors and stimulated the economy in depressions and recessions.
So just how do you turn that little idea, like blankets with sleeves, into cold hard cash?
Louis Foreman, author of the new book “The Independent Inventor’s Handbook” and Executive Producer of the PBS show “Everyday Edisons” says it is all about profitability.
“The first thing you want to do if you have a great idea and we all have great ideas is to figure out whether or not you can actually make money from your idea. I’ve seen too many inventors go down a path of pursuing an invention only to find out later that there’s not an economic return to be justified from that investment,” Foreman said.
Foreman says even though the economy is sluggish, the recession is the best time for innovation.
Photo by Everyday Edisons.