Money Talks News: How to become an inventor

Money Talks News: How to become an inventor

Money Talks News - Coming up with an idea is the easy part. The rest of it is what is difficult and takes so long.

Inventor, Carolyn Keane knows exactly how difficult it can be to take an idea and turn it into a product.

"My product is 'PaintSmart Trayz,' and it took me six years to get a utility patent," Keane explained.

The road to riches may be long, but there may be millions at the end. Example: The Spin Brush. The inventor sold the idea to Proctor and Gamble for nearly $500 million.

That's part of the reason inventor society president, Leo Mazur and others gather every year at a convention to show off their creations.

But it's going to take a lot more than just an idea to make you a millionaire. You've got to take steps, and they've got to be the right steps : Do research, make a business plan and  apply for a patent if you need one.

If you're not sure if a patent is necessary, join a local inventors group and learn the ropes.

It's also important to get your product professionally evaluated. But also remember where there's hope, there are often thieves. Be careful who you deal with.

And finally, try to sell some products if your research shows it's viable. Investors like to see proven sales before funding new projects.

Behind every inventor is a dream. If you've got a dream of your own that you'd like to pursue, don't just sit there. Do it. Just do the right things.

Head to the Money Talks News website and do a search for "Inventions."

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