Don’t Wait Till Someone Else Cashes in on That Invention
Mark McKitrick admits he is not a writer, but after years of battling his own frustration, he decided to put pen to paper to help other inventors better navigate the patent field.
The Complete Guide to Inexpensive Ideaing by McKitrick and Dr. Kim Sena gives people a step-by-step plan on how they can capitalize on intellectual-property trends.
The basis for the book sprang from McKitrick’s own experiences. Too often, he noted, he’d have an idea, write it down and then file it away. Then, months or years later, he’d walk into a store and see his idea sitting on a shelf…making money for someone else.
“Twenty-eight percent of inventors have had an idea that they didn’t pursue, only to see it eventually brought to market,” by another party, the Michigan inventor says. “This book takes you from Step A to Z, from your initial idea to how to fund it. If it’s not going to make you any money, don’t waste your time.”
Some of the areas readers will learn about are patent and market research, writing their patent, developing their product, writing a business plan, and finding angel and venture capital.
Tips in the book will help people realize the American dream – whether that’s running their own firm or creating the next must-have gadget, but more specifically, making their own money. Having a great idea is one of the best ways to achieve that, the authors say.
“Our goal, utilizing our years of experience in the idea-development process, is to empower people in all walks of life with the necessary tools that can make them successful,” McKitrick says, “and our templates save a tremendous amount of time and money.”
Consumers buy products they believe will provide them with some value, such as saving them time, money or space, or making them feel more secure, entertained or comfortable. Basing an idea around those values can help inventors shape their plans.
“Keep a notepad handy and write down ideas when they pop into your head. Some of history’s best ideas woke their inventors from a sound sleep at ,” the authors say. “This book will show inventors what and what not to do themselves, and how to make their time spent with specialists more productive (and therefore less expensive).”
The authors advise inventors to protect and develop intellectual property just as they would any other commodity, even if they don’t want to market the idea themselves.
“People should develop intellectual property and sit on it just like we used to do with real estate,” McKitrick says. “I think this time in America is ripe for opportunity.”
The Complete Guide to Inexpensive Ideaing is available in bookstores.