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Can You Make Money with Your Idea or Invention GOV7
Summary
Innovative ideas are essential to business progress. It is very difficult,
however, for innovators to get the kind of financial and management support
they need to realize their ideas.
This Aid, aimed at idea people, inventors, and innovative owner-managers of
small companies, describes the tests every idea must pass before it makes
money.
You've Got an Idea? Great!
So, you've had an idea for an invention or an innovative way of doing
something that will boost productivity, put more people to work, and make
lots of money for you and anyone who backs you? As you've probably heard,
you're the kind of person your country needs to compete in world markets
and maintain its standard of living. You're the cutting edge of the future.
You are another of those individuals on whom progress has always depended.
We all know that it hasn't been huge corporations that have come up with
the inventions that have revolutionized life. As the discoverer of
penicillin, Sir Alexander Flemming, said, "It is the lone worker who makes
the first advance in a subject: The details may be worked out by a team,
but the prime idea is due to the enterprise, thought and perception of an
individual." Innovators like you are business's lifeblood.
Owner-managers who have started companies on new ideas know first hand
about the innovation process. They also know that you can expect to hear....
You've Got an Idea? So What?
In the first place, the chances that you are the first to come up with a
particular innovation are somewhere between slim and none. Secondly, even
if you have come up with the better mouse trap, nobody--but nobody--is
going to beat a path to your door. In fact, in the course of trying to
peddle your BMT, you'll beat up plenty of shoe leather wearing paths to
other people's doors. You'll stand a good chance of wearing out your
patience and several dozen crying towels as well.
Why is it so hard to find backers for your brainchildren? One consultant
put it: "Nobody wants unproven ideas. Nobody wants to be first. Everybody
wants to be second." Why this fear of the new?
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