© 2005 Dream Merchant Dream Merchant • 2309 Torrance Bvd. #104, Torrance, CA 90501 (310) 328-1925 email: Jkm316@aol.com
You've Probably Heard Many of These Product Development Myths. Now Ken Tarlow Sets the Record Straight.
Before jumping into the product development game, you'll first need to "unlearn" some of the things you've accepted over the years. Let's look at a few common fallacies about the invention game and discuss what the truth really is.
1. ALL I HAVE TO DO IS TELL A MANUFACTURER MY GREAT IDEA AND I'LL MAKE A MILLION DOLLARS.
Not true. It is extremely rare to earn money from an idea only. You need a working model to demonstrate your idea and some type of exclusive ownership of the idea--either patent protection or some kind of secret process.
2. I CAN'T TELL ANYONE MY IDEA. THEY WILL STEAL IT.
It's good to be cautious when talking about your idea and use a simple non-disclosure agreement before discussing it with any business people. However, it takes a large effort to develop and manufacture a product. Most people are too busy to steal your idea and spend the hundreds of hours and thousands of dollars to develop it.
3. IF I MAIL MY IDEA TO MYSELF REGISTERED MAIL, IT IS PROTECTED.
The only thing that legally protects your idea from being stolen is to file a design or utility patent. Your other best protection is keeping a dated journal showing the progress of your idea.
4. I NEED TO BE AN ENGINEER TO DEVELOP A NEW PRODUCT.
You need knowledge and persistence--that's it.
5. I NEED A FORTUNE TO PAY FOR THE DEVELOPMENT OF MY IDEA.
No...you can do the work yourself, or do the first part, then write a mini business plan to raise relatively small amounts of money from friends or family if you don't have it.
6. I'M NOT CREATIVE ENOUGH OR SMART ENOUGH TO DO THIS.
People of all ages, from all walks of life, have been successful product developers. Learn all you can and go for it!
The above article was excerpted from Ken Tarlow's MIND TO MONEY, a cassette tape/workbook package that can help you develop a new product from the idea stage to the marketplace. MIND TO MONEY may be ordered from the Dream Merchant at $59.95 plus $4.95 CA sales tax and $5 shipping and handling ($69.90 total). Send orders to, Dream Merchant, 2309 Torrance Blvd., Suite 104, Torrance, CA 90501.
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