Investing in Product Design Brings Big Rewards

Inventors are unique. They often toil alone, working with minimal resources as they chase the wisp of an idea. When they achieve those eureka moments — that point when all the thinking, sketching, tinkering and building produce a viable product — they are just beginning.

It takes money to take that innovative or creative new idea or product to the market and that is where investors can play a crucial and possibly lucrative role. Many would be investors shy away from this type of investment, claiming the risks are too great. The fact is, investing in innovation can be a way to earn financial rewards as well as personal satisfaction.

Savvy investors also know that greater risks can also bring larger rewards.

In a post at on investing on inventions, Robbie Woliver put it like this:

“There are thousands of innovators who are trying to get their bright ideas to market, and investing in inventions, a cornerstone of economic progress, is becoming a more viable means of making money. Just think about being on the ground floor of another ATM, MRI, Furby or Barbie doll.”

Inventors produce the ideas that help solve problems and make life more interesting, fun, entertaining or comfortable. Investors provide the capital that gets these products from the development stage to the store displays. It is a match that defines investing.

To make that match work to everyone’s advantage, there are a few things every investor should consider when doing their due diligence:

  • What is the track record of the inventor?
  • How marketable is the invention?
  • Is the proposed product really unique?
  • Is the proposed product something the investor cares about?
  • Has the inventor or his support team fully developed the idea? Do they know what the competition is? Do they have a handle on production issues and costs?
  • Is this a product or idea that you would be willing to invest your time and efforts to launch?

If you can find positive answers to these questions, then you might want to consider making an investment.

Smart investors backing the right inventions stand to make money as well as have the satisfaction of knowing they helped create something new and beneficial in the marketplace.

If you'd like to learn more about the potential for investing in innovative new products, contact us.

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