5 Things I Wish Every Inventor Knew Before They Spent Their First Dollar

A woman came to me years into her invention journey. She had already spent money on prototypes. She had hired companies to represent her and pitch her product. She was fully invested, emotionally and financially. And then we sat down together and did something she had never done at the very beginning.

We did a patent search.

What we found stopped everything. There were similar products already in the market. Then we dug deeper and found an active patent that covered exactly what she had invented. The product was already out there. All of that time. All of that money. All of that hope.

This is not a story about failure. It is a story about what happens when you skip step one. And it is exactly why I wrote this. Here are the five things I wish someone had told her before she ever got started, so she was prepared, knew what the journey looked like from the beginning, and understood all of her options for bringing an invention to market.

I have been doing this for over 20 years, coaching thousands of inventors, holding 15 patents, and bringing my own products to market through licensing and manufacturing. And in all that time, I keep seeing the same patterns come up no matter what kind of idea someone has, what industry they are in, or how far along they are in the process.

Many of the inventors I have worked with over the years, and honestly myself at times, have run into at least one of these situations. They happen because you are excited and moving fast and nobody handed you a roadmap at the start. The good news is every single one of them is avoidable once you know what to look for.

So here they are.

Before you file anything, before you build anything, before you spend a single dollar, do a patent search. This is the step most inventors skip because they are excited and they want to move. But a basic patent search tells you whether your idea already exists as someone else's patent, whether an old patent has expired and your idea is now in the public domain, and whether you have something original that you can actually call your own.

Finding out your idea is already patented after you have invested time and money is a gut punch that is completely avoidable. There are tools available to help you do your own initial research. AI platforms like ChatGPT or uinvent.ai can help you describe your invention clearly and, if you prompt them to, can help surface existing patents or similar products to compare against your concept. Google Patents and USPTO.gov, the official website of the United States Patent and Trademark Office, are also free resources you can explore on your own. You can use one, all, or none of these tools before going to a patent attorney or patent agent.

Know what you have before you invest in what you think you have.

The most important step is bringing what you found to a patent attorney or patent agent. You can hand them your research or have them conduct the search themselves. Either way, they will review the patent claims, compare them against your invention, and provide a patentability opinion. This is what they do for a living and that professional guidance at this early stage can save you enormous time and money. Keep in mind a patentability opinion is exactly that, a professional opinion. The final decision on whether your invention qualifies for a patent comes from a patent examiner at the USPTO who reviews your application and makes the official determination.

And here is something I do personally. If the attorney or agent tells me my idea is patentable I feel great. But if they come back and say I have hit a brick wall and what I came up with already exists, I trust that, move on, and start thinking about my next idea. Sometimes I will even get a second opinion if I am not fully satisfied with the first answer. Your time and energy are too valuable to push forward on something that is already out there.

Excitement is contagious. When you have a great idea, you want to tell people. Your family, your friends, the manufacturer you found online. The problem is sharing your idea without protection in place can put you in a very vulnerable position.

Here is what I recommend. Once you have your provisional patent application filed, a lower cost filing with the USPTO that gives you patent pending status for one year while you develop and validate your idea, you have a level of protection in place and sharing becomes much less of a concern. But if you have not filed yet and you need to bring someone in, make sure you have at least a Non-Disclosure Agreement signed before you share any details. And whenever possible, work with people who come referred by someone you trust. A referral from another inventor or a colleague who has worked with that person gives you a layer of confidence that a cold contact simply does not.

The NDA allows you to keep moving forward on your invention while keeping your information protected. Just do not skip it. Even with someone who seems completely trustworthy, get it in writing before you share the details.

Most companies that you pitch are not going to teach you how the process works before they decide whether to work with you. So let me give you a quick but important lesson before you walk in the door.

Licensing means you have an idea, most of the time backed by some form of intellectual property such as a provisional patent application giving you patent pending status, an issued utility patent, or an issued design patent, and you are presenting that idea to a company that manufactures and distributes products in your category. If they like what they see and the deal makes sense for both sides, a typical arrangement is that you earn a royalty based on a percentage of the wholesale price every time the product sells, you retain ownership of your patent, and they handle the manufacturing, marketing, and selling. Keep in mind every licensing deal is different and terms are always negotiated, but this gives you a general picture of how it works.

Now here is where most inventors stumble. They approach companies with just an idea and some sketches and expect to be taken seriously. Most companies want to see something real. A working prototype, a 3D printed model, a handmade sample, or even a well-produced demo video goes a long way toward showing that your idea actually functions the way you say it does. It does not have to be perfect or production ready. It just has to demonstrate the concept clearly enough that the company can picture it on their shelf.

Know the process before you pitch. Walk in prepared and you will always stand out.

If you are going into business for yourself rather than licensing, you need a manufacturer. And the type you choose matters more than most inventors realize. What I see happen too often is an inventor teams up with a company that already has their own business running and is essentially squeezing your product in as a favor. You end up at the bottom of their priority list.

What you want is a contract manufacturer. These are order takers in the best sense. You bring your CAD files or product specifications, they produce your order and move to the next job. That is their entire business model and your order matters to them. Look for companies labeled OEM, Original Equipment Manufacturer, who produce based on your design, or ODM, Original Design Manufacturer, who can also help develop the design if you are not fully there yet.

Always get more than one quote, never let the excitement of a yes stop you from comparing. And do not be intimidated by minimum order quantities. Many factories are open to a low MOQ to get you started, and a slightly higher cost per unit at low volume is completely fine as you test and grow.

The right manufacturing partner treats your product like it matters. Because to the right partner, it does.

Opportunity in the inventor world moves fast. A connection at a trade show, a referral that gets you in front of the right buyer, a company that asks to see what you have. When that moment comes you need to be ready and most inventors are not.

If I had to pick one presentation tool every inventor should have it would be a short demo video. Not a polished commercial. Just a clear, simple 60 to 90 second video that shows the problem first and then shows your invention solving it. Upload it to YouTube as an unlisted video so only people with your link can view it. That link is what you share with the companies and buyers you are approaching. A short video that shows the aha moment of your invention does more work in less time than any written document ever will.

Strong photos of your prototype matter too. Companies want to see that something real exists. Clear images showing your invention from multiple angles, next to something for scale, in use if possible, go a long way toward making your pitch feel credible and serious. If a physical prototype is not yet possible, a 3D animated rendering can show how your product looks and functions in a professional way at a reasonable cost.

Some companies may ask for a simple one pager with the basics. Problem, solution, product images, key benefits, and your contact information. Keep it clean and simple. But lead with your video and your visuals. Those are what get people leaning in.

Be ready before you need to be ready. The inventors who have their materials together before the opportunity arrives are the ones who get to tell the story of how their deal came together.

None of these situations are fatal. Many inventors encounter at least one of them along the way. The difference between the inventors who move forward and the ones who stall out is usually just this: the ones who succeed get good information early and adjust course before they have burned through their time and budget.

That is what The Invention Playbook is all about. Giving you the real picture so you can make smart decisions at every stage of your journey.

You have a good idea. Now let’s make sure you give it the best possible chance. Visit InventorCoach.com to learn more and get the coaching you need to move forward.

Inventively yours,
Brian Fried
The Inventor Coach

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