Save money, make more money. It sounds easy right, well good thing it is. I read an article this week about how start ups should spend as little as possible during their early stages. Big companies waste so much on overhead, trinkets, and doodads, it's amazing they're still profitable!

I thought this lesson would apply very well to inventors as well as entrepreneurs. It may require some creativity, but I trust if you're reading this, you can do it. All it takes is a little time using the right side of your brain.

I have heard that one place not to be cheap is with regard to intellectual property. I took that to heart, until I saw the first bill from my IP attorney - OUCH! I spent almost the same on my attorney as I did on my website development. There are alternative to paying hundreds an hour, and all you have to do is look a little harder. I was able to find an invaluable resource, at a university law clinic, that cost me nearly nothing. Check with friends, colleagues, and family, you may find someone willing to give you a good deal. Another alternative is to go to patent agents instead of attorneys. Now legally I'm not supposed to give any advice, but this is financial advice . . . patent agents are a fraction of the cost of attorneys. Okay, so they can't help you in court, but neither can most high-priced patent attorneys.

Remember when starting out, Profit = Revenue - Expenses. Learn how to decrease those expenses and take more profit to the bank.

Bryan

Invention ideas, business ideas, new product ideas, all at IdeaTango.com

Invention Trade Shows - they can be a wonderful way for both inventors and companies to find one another and initiate a dialogue. Hundreds of people with the same common interests in a single room, it's like 2000 people coming to your own personal pool party. But at what cost does this face to face contact come at?
For an inventor or company just to attend, your talking minimum 1-2 plane tickets (or more if you want to hit up all the booths), hotel, domestic brand mid-size rental car, employee time, and last but not least, the admission tickets. So you've spend well over several grand just to get you there, your work has just begun. I'm not going to even talk about the cost of hosting a booth and if you don't know what it costs . . . you don't want to know.
"Now why couldn't someone replicate the convention type feel, at a fraction of the cost" you ask inquisitively. Well my good friend, that's what we're doing here at IdeaTango.com. We're bringing the seedy underbelly of the invention convention world straight to your monitor.
When we release the full website here in the next few months, we'll have all the stuff you'd expect out of an invention convention, at a fraction of the cost and with the convenience of the internet.
Actually, we'll be completely FREE, but only for a limited time. So be sure to jump on our bandwagon early, take advantage of our tools, and join us in our quest to revolutionize invention conventions, Web 2.0 style.

Bryan


Inventors - submit your invention ideas to companies
Companies & Entrepreneurs - connect with our community members to generate new product ideas for your company

All at IdeaTango.com