Make quick easy cash now
Survey Junkie - Earn up to $35 per survey
Rakuten - Cashback on shopping - $25 welcome bonus
Be Frugal - Earn $10 when you sign up
Flipper - buy cheap sell high and make huge profit
Acorns - turn your spare change into more money
Follow me for updates on quick cash programs
You as entrepreneur ask what to do if you have an invention idea with no money
No matter how good your idea is, you may think
I have an invention idea but no money so what to do right now?
Are you going to give up your invention idea just because you don’t know where to go?
There are few affiliate links, if you click a link and make a purchase, I may receive a commission at no extra cost to you
Or are you going to stand still beside your invention idea to prove it is worthy
In this article I am going to discuss if you have an invention idea without any money
What to do if I have an invention idea but no money?
Sometimes when speaking with friends and family it can happen that one of us comes with an invention idea and wish for money to implement it
It doesn’t have to be a physical invention
Just a piece of software or mobile app is suffice
Validate your invention idea
You won’t believe me if I tell you that I thought about an app for selling or trading used clothes or accessories
I thought about it when I went through my closet with many tops or pants that I know won’t be wearing
Anyway validate your invention idea see if it is worth it
I listen to others’ invention ideas, I criticize them to prove they’re not worthy
You can do the same thing by discussing your invention idea with someone you trust
Make sure to write down your thoughts writing down why you think your invention is really great
At the same time, write down why you think your invention is sucks
Keep a detailed note of your invention
Now you have an invention idea but just a hazy thoughts
You have to lock yourself and write it down in details
Cover all weak points by filling up the gaps
Actually so many invention ideas are given up because of not filling up all gaps
e.g. Uber app what will entice drivers to sign up if they get paid small fees
Answer: Uber takes small fees and passes most of the profit to drivers
They make profit from the volume of daily transactions
Make sure your invention does not exist
What if you have an invention idea and the money to cover it
But your invention already exists
This happens most of the time where you think of an invention idea only to find out that it already exists
Just go and search United States Patent and Trademark and see if you find your idea
Apply for a patent for your invention
Now you have an invention idea
But you only have it in your mind or documented on papers
What if someone else comes up with the same invention idea
That’s why it is highly recommended to apply for a patent for your invention
In US, you can apply for patent by going through patent process overview
While in Canada, you can apply here for your patent idea
Although you can pay fees around $500 to register your patent
That’s a good decision to make as you’ll secure your invention
You don’t have to transform your patent into a physical invention
Take a loan to fund your invention
Taking a loan is the only solution if your invention idea is great with no money to transform it into a physical product
Actually don’t apply for a loan without registering for your invention patent
By doing that you would know if you are pursuing a valid idea that will help the world
Or you are just a dreamer who came with an idea that it is not worth it
Search for invention grants
A site like www.grants.gov helps you search for grants to fund your invention idea if you have little or no money
The only way to find an invention grants is to keep searching
Ask a family or friends to do an invention joint venture
If you have an invention idea but no money you can look for a partner
You need someone who is open minded
A family member or friend who is trustable and knowledgeable
Sell your invention idea for cash
If you have an invention but you are short in cash or don’t have money
You can sell you invention to many places willing to pay for your idea
Somewhere like Sharper Image you can email them at productideas [at] sharperimageonline.com
Also you can reach out to 3M by submitting your idea here
Can you make an invention without money?
Short answer is yes
It is a conditional yes if you have an invention with no money
But you have to prove that your invention is applicable and feasible
How? actually it works best with digital inventions like software or mobile app
You can start a draft version of your invention without any money
All you have to do is create a prototype of your app
It is highly recommended to be a software developer otherwise you will incur money to hire a freelancer to do it for you
For physical inventory if you have a blueprint on how to build your invention then it will be somehow convincing for whoever is going to buy your invention to built a draft copy of it
How to become an inventor?
First an inventor is someone who develops an idea in his/her own industry or expertise
To become an inventor you have to do the following
1- Choose an industry
I myself as a software developer I tend to think about new software ideas and mobile apps
It makes sense to think about new ideas in your own industry or experience
2- Know everything about the invention business
Yes this is what is called invention business starting from finding a mentor to looking for someone to sponsor your invention idea if you have no money
3- Develop your ideas
Your primary focus is to think about inventions that make life easy for others
If you target to think about an idea that reduces time for users that would be considered an invention
4- Build a prototype
Prototype is a preliminary model that you can use for product demostration
It doesn’t have to be perfect or complete as long as it conveys the idea
5- File a patent
After coming up with an invention idea if you are short in money then you have to file for your patent idea
You don’t want your hard work to be vulnerable to others
6- Build and sell your invention
If you have an invention idea and got the money from whomever it is coming from your own pocket
Or you have a sponsor may be a family member or a close friend
Again you file its patent and begin the building process to sell it for high price than if it is just a patent
7- Keep generating new ideas
When you complete your first invention idea don’t stop there
One idea can lead to another and once you gain experience and confidence you know the process and you can build more invention ideas
Where do I go if I have an idea for an invention?
First place to go to is the U.S Patent and trademark office
Another thing to think about is to consult an attorney with experience in patents
Can you sell your idea for an invention?
There are many places to help sell your invention idea for money like patentauction.com
By the way the above site is the pioneer but there are more competitors like
How much money can inventions make?
If you have an invention idea with no money then you have 3 options
Option one is to sell your invention idea recommended to file it as a patent
This option is the least money you would make
You can expect to make less than $50,000
I have provided few links above to sell your invention idea
Option 2 is to license your invention and a company which agrees to fund your invention idea will give you some flexibility to manage your invention till it becomes a real product
You can then get a lifetime percentage of the total sales
Option 3 is to produce and market your invention idea by yourself
Although it will cost you money but you have full control of the return of investment
Make quick easy cash now
Survey Junkie - Earn up to $35 per survey
Rakuten - Cashback on shopping - $25 welcome bonus
Be Frugal - Earn $10 when you sign up
Flipper - buy cheap sell high and make huge profit
Acorns - turn your spare change into more money
Follow me for updates on quick cash programs
Leave a Reply