How to Invent something with no Money

Coming up with something may be hard, but it is way harder when you cannot fund it with your own finances. This does not have to serve as a demotivation to you but it has to be otherwise, to help you achieve something so you can work on it later on and make up a name for yourself.

If you have had an idea on something that you can develop to be a product someday, you should definitely work on that. You don’t really need money to think it out although. Make sure that you work enough other things that you can finance other projects in the future while trying everything to make the current one succeed.

In case you are in the situation where you have an idea of an invention, but you don’t have the ability to finance this project, this is an article for you, to try and get motivation, and some things that you can try to use, and see whether they will work in your case or not.

Think your idea through

Before you try to do anything, you have to focus on your end and try to finish everything up in detail. When you have an idea, you have to understand that you can’t really do anything with it unless you work it through. That is why you have to find time and work it all the way until you have a basic finished product. You have to get in details, starting from the idea, how you plan on finishing it, implementing it in real situations, and how you will get your product popular with all the other options that are present.

You should do this to understand whether your idea is good enough to try to find finances to invest into finishing. Not everything you come up with is going to be worth it, but if you don’t put enough time to see this, you may fail hard enough to set yourself back for a long time.

Make sure that there is no similar thing already present

To be able to come up with an invention, you will have to look deeply whether there is something similar already present that can ruin the thing you have put in so much effort in. That is why, you have to find time and look in many places whether there is something like that, not only in your location but the world as well. If you are not able to find this, and you have a little bit saved on the side, you can hire a person who is doing this regularly, and they will check whether you are good to continue working with it, or give up on this project and try another one.

Make sure that you collect all of the papers needed

When you work on it, you have to keep everything that is important and related to the invention. That includes the first things you have worked on, to the latest details that you have come up with. Also, after the previous paragraph, if you have hired someone to see if there is something like that that has been already being sold somewhere, you can get that paper as well, and have a complete project, that you can try to work it thoroughly next.

Submit patent application

This is really important for you, and it costs a little bit, but you will be able to find the finances for this whether on your own, or you can ask your close ones for this, because it will be worth it, and they can get their part when you finish it completely. You have to be careful with this phase because you have a time frame where you have to submit your papers. This is why Invent Help recommend it is best to submit your patent as soon as possible. To read more about how they can help inventors, check out this website.

If you have talked to someone about this, or you have stated on any media what are you doing at the moment, you have only a frame of a year to get this done. After that, you will not be able to get the credits for the thing you have come up with, and that is frustrating. Make sure that you don’t talk with people who might get an advantage of that and try to take it away from you making it their own. You can only have that type of conversation after submitting everything to the firms who are protecting the inventions and get yourself the credit for your creation.

Visit financing companies

When you have done everything until now, you should try and find a way to get financials to proceed to the final steps of getting your product produced, and sold. That can be done without having any on you. All you need to do is visit some of the financial firms which offer the amount you need, with a rate that you will have to return on a regular basis. Since you have thought everything, you are free to get this because the chances that it will be successful are high, after all the things you did, or at least get enough to return everything back.

Look for state financing options

Depending on where you live, there can be options of financial help that you can get from branches of the government to be able to finish the things you have started. This works in a similar way to any other financial firm, but you will have much lower rates, and that will be easier on your pockets in the long run.

Get someone to invest in you

If you can find someone that believes in the thing you have created, you can get them to a deal where if they finance you, they can have their share. This is one of the greatest options because you don’t spend anything but get the benefits of it, with the exception that you don’t get everything but you have to split it up with the person or the firm that you have a deal on.

Trade your invention for financial compensation to firms

If you are able to find a firm that is in need of the thing you have thought of, you can talk with the person in charge there, and try to get them to purchase this from you. That way, with spent almost zero finances, you will be able to enjoy the benefits of it, and collect enough so you can work on the other ideas that you had, so you can come up with a career that will bring you enough, if not a lot.

Back to top button