Is Your Next Invention the Real Deal?

Inventors’ 101: Do You Have a Great Idea for an Invention?

Invention Blog Post

The event “Inventors’ 101: Do You Have a Great Idea for an Invention?” was held on April 14th, 2016 in the Library of Philadelphia. The speaker for the presentation, Jeff Dobkin, a 14-year board member of the Philadelphia-area American Society of Inventors, discussed a wide array of topics that surrounded the idea of having an invention and how to make it into a business venture.

Anyone can have a great idea or create something using the resources that are around them at a particular time. The trick to being a successful entrepreneur is creating a product or service that adds value to a large amount of individuals within a given target market. The lecture focused on the “how to” of getting your invention off the ground and hopefully into the hands of customers.

The seminar revolved around the following main ideas of an invention:

  • Design, research, patents, marketing and licensing to potential manufacturers or other related businesses
  • Whether or not to apply for a patent
  • Will my product sell in the marketplace? Jeff Dobkin discussed hints on knowing if the product would sell prior to being released to the customer base
  • How to market your invention and what services to use in order to create brand awareness

As mentioned earlier, Jeff Dobkin is a 14-year board member of the American Society of Inventors and is now currently the president. He has written seven books and over 250 articles about inventing, advertising, direct mail, magazine/newspaper advertising, marketing, and direct marketing. Numerous articles have been featured and over 300 magazines have referenced his work in the past years. He has made an impact within the marketing world and has given entrepreneurs useful information in knowing if there product will be a success even before they launch their product. This can be very useful, in that, it saves individuals a significant amount of time, resources, and capital when developing their invention from the prototype stage to a fully functioning product that can be offered to the public.

One of the main points that was emphasized throughout the presentation was asking yourself, “What stage is my invention in?” By asking this question, the entrepreneur can begin to move forward and formulate a plan of action as to how he/she will want to develop and market their product. A few basic questions that Mr. Dobkin said should be considered are the following:

  • Are you going to manufacture and marketing it, or license it?
  • What industries will your product sell to?
  • How much will it cost to make?
  • What are some other names for your invention in case that one is taken?
  • Why will your product be better, cheaper, and faster than other competitors?

Answers to the following questions can help an aspiring entrepreneur in many ways. By having a clear, focused strategy and the willingness to develop the invention from a concept to an actual product to a major key to being successful. Mr. Dobkin highlighted the many obstacles that individuals face on the entrepreneurial battlefield, but anyone can have an invention and anyone could develop the next “big thing” in today’s society. All you have to do is try.