Here’s a business that is for a person looking for something a little more unique and something that doesn’t follow the typical cookie cutter business plan. Of course, you will run it like any other business, providing a product or service and finding someone to buy that product or service, but in this case it is something very unique: inventions.
With inventions, you have many options, but from the beginning you know that you have a lot of work ahead of you. Unlike making a specific product that you can sell over and over again, with inventions you are selling a unique idea over and over again. Therefore, you must always be creative. However, depending on how you organize your business, you can earn a lot of money.
I suggest that you maintain a stable income while working in this business so that you have time to learn the best strategies. Also, this business could be unique in its payments. For example, you could work year-round at a typical business and earn $ 5,000 a month. As an inventor, you might work the same amount of time, maybe a whole year, and get a huge reward of $ 60,000. You both earn the same money annually, but having a year to make a profit isn’t always good for paying your rent. So make sure you have a safety net as you determine the exact strategy you’d like to use to earn a living as an inventor.
An easy way to make money is to license your ideas to larger companies so you don’t have to worry about the headaches of dealing with mass production and customers. One of the best strategies an inventor can use is to look for problems and try to find solutions. Solutions are much easier to sell than a new idea. As an inventor, you can literally make $ 50,000 overnight with a good idea.