Terry Lane Products LLC
Inventions News & Ideas
In this issue...
Coming Up with a New Invention
Finding Your Inspiration
Quick Links
Coaching for Inventors
 
COMING SOON!
 
Coaching and Training Programs for new inventors.  We'll help you get your ideas in front of the right people and work with you through the entire process.
 
Sound interesting?
 
Watch this newsletter for more information coming soon!
 
Or send an email to us by clicking here and let us know what help YOU need!
February 2009

 
Since our last newsletter, I've been very busy doing many interviews with radio stations across the country talking about the invention process, how to get started, etc.  It's really an exciting time to bring your invention to the forefront!
 
I hope you enjoy this month's newsletter and ideas.
 
To Your Invention Success!
 
Kim Laney
Terry Lane Products, LLC
 
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Listen to one of my latest radio interviews:
 
AreyouinventorComing Up With a New Invention
What should you do first?

Have you ever wondered how people come up with new product invention?
 
Maybe you already have an idea or you are looking for the next million-dollar invention idea. Either way, you must do your research before you spend any money on an invention.  Patents can be expensive, so a little research will keep you from spending money unnecessarily.
 
Keep in mind that you do not have to have a complex or complicated idea to make money.  Most likely, your first invention will not be the million-dollar invention. But once you learn the process, inventing can be rewarding as well as lucrative. Some inventions solve problems, like my hat rack did.  There was a opportunity in the market for a hat rack that I was able to fill. Not every idea has to solve a problem, though.  Some product inventions connect with people at a specific time and space in history.
 
Think about some of the simple inventions that made a lot of money that make you say, why didn't I think of that!   For instance, I would like to know who thought of the "pet rock!"  How about the Chia pet - what were they thinking?  And beanie babies and Webkinz??
 
None of these ideas solved world hunger, but they were products that connected with people at a level that converted consumer connection to consumer sales. Who knows?  You could come up with the next pet invention or toy!

 
inventionideasFinding Your Inspiration

Here's a great way to get inspiration for your next great invention...
 
Spend some time in the aisles of a store. If you are interested in toys, then visits a toy store.
  • Ask questions
  • Study the shelves
  • See what is new, etc. 
  • Talk to a manager
  • Try to find out what's hot right now
  • What would he like to see in stores
  • What are the new trends? 
  • What toy companies put out the most new toys? 
A trip to a store can give you information and inspiration to create the next big thing. Toy companies are great targets for inventors, because they typically do not spend a lot of money on research and development.  In other words, they may be more open and receptive to ideas from outside sources.
 
Every day, I locate new products on the shelves of office supply stores, toy stores, Walmart, and department stores. Check it our sometime, and see all of the new ideas being launched into these stores and get inspired to make your product next!
 
Stephen Keys, a fellow inventor, once noticed that basketball nerf  ball games were popular in toy stores.  They are the small backboards with the foam balls that you hang on your bedroom wall and shoot balls into it. He also noticed that all of the basketball toys had plain backboards. At that time, Michael Jordon was extremely popular; he got a bright idea to make a basketball rim using Michael Jordon as the backboard instead of the typical backboard. He licensened the product and has sold millions of them in stores like Walmart. This simple idea made millions for him. 
 
Remember that the next time you visit a toy store. It may be worth it to spend a little time checking out the aisles! 

What is Your Story or Question?

We want to hear from you!  Email us today with your invention success story or question about the invention process.  We'll print one each month along with suggestions and the next steps to take!