Steps to becoming an entrepreneur...
So you think you have a good idea?
Getting
it on paper
- Remember anything that is a new way of doing
something is an innovation. You probably have a few of those.
- Think of ways that your idea would make life
easier or just generally more cool: problems that need to be solved,
making things do what they do a lot more efficiently, or something
that people don't really NEED but may really WANT. Does your idea
fit any or all of these? If the answer is YES, you're on your way...
if it also involves science and technology, even better.
- And here's the tricky bit - has anyone already
used your idea before? If the answer is "Yes", you'll have to think
of a new one, if the answer is "a bit" then you're still ok if you've
discovered a way to improve what they've already done; if "no", then
get working on it!
- Once you've come across an idea you really
like, sit/lie/flop down and have a really good think about it. Is
it interesting enough to keep you going for a while? Is it really
something other people would find interesting? Have you got a solution
to it? [You'll probably come up with thousands of solutions to your
problem... write them ALL down and go over each one, cross out the ones
that are really pretty stupid and leaving the ones that might just
work] Basically, what you want is to start off with a bunch of solutions
that would work in a perfect universe where pigs fly and you're a
millionaire and then reality kicks in and you begin to cross out the
things you might not be able to do until you're left with the things
you just might be able to do.
- List the best solutions somewhere you won't
lose them. Come back a bit later (hours, days, months) and describe
in writing how you might actually make your idea happen. Design it,
explain it, try and sell the idea to your friends and family (but
tell them to keep it to themselves!). What you should be left with
is a design of something that some total stranger could pick up and
say "hey, this is a blah and I could make it with blah, using blah"
[for "blah" insert real words]
So you have now turned your
idea into an invention. Now ask yourself:
- is it still a new or improved idea (or have
I just reinvented the wheel)?
- is it really something someone other than my best mate will use?
- can it actually be made/done with a budget of under a million dollars
and in the 21st Century without replicators?
- is it cruel to animals or small children?
- is it legal?
If you answered "no" to any of these questions,
then it's back to the drawing board. Note that most innovations and
business ideas go through a couple of rounds before they even get noticed.
When you answer "yes" to the above, proceed...
- Refine your idea: draw it, explain it in detail,
find out if the materials/resources you need are actually available.
Research! If your idea is something tangible (i.e. something that will
need to be manufactured) then try and build either a scale model or
a prototype. If you are building a model, not what the REAL materials
are you would need. Keep all this information in a safe place so you
won't lose it.
- Test the idea. Get your trusted friends, family or teachers to test
it out for you Refine it and refine it!
Congratulations! Now you can:
- enter one of the many competitions (as those
in Smart Moves Phase 2) and/or
- patent it and/or
- try and sell it to an Australian company so they can use it.
We recommend patenting it if you want to
make some money or even get the credit for your idea. See how to patent
below...
Things
to consider
- Don't
tell anyone without using a confidentiality agreement - and still be
careful about telling anyone. Where do I get one done?
- Don't
spend any money on a patent or production of a prototype until you have
the commercial viability assessed by an expert. This will need to include
an Intellectual Property search. A few dollars spent now could save
you thousands in the future. Inlude a preliminary patent search which
will save you hundreds of dollars, as well as an assessment of the invention's
market potential.
- Don't
outlay up-front dollars to a commercialisation company - look for those
that work on a fee for success, are supported by professional bodies
and have testimonials of previous success.
Patenting - protecting your
idea and keeping the credit
Types of patent:
Utility - for the average gadget (e.g.a robotic
nose blower)
Design - an improved version of something that already exists (e.g.
a see-through surfboard with lights)
Plant - for plants! (e.g. a forty metre tall "tomato" plant)
Is
it really my idea?
Well, it may seem
a little odd but if someone else has told someone else about an idea
just like yours... you can't patent it. For example, if you have this
great idea for a see-through surfboard and you've designed it and checked
that there aren't any in existence and apply for a patent... you could
get turned down because some surfie chick in the sixties wrote about
what a great idea it'd be in her local newspaper. She didn't design
it, patent it or even make one; but the patent office should still credit
the idea to her. Unfair? Well, that's the business world for you and
it also shows how important it is to keep your ideas to yourself when
you first start out!
Actually
applying
WARNING! This
will cost money! Before you start it might be an idea to speak to a
solicitor or the patent office (ph). They can advise costs and the best
way to proceed. We won't offer any advice here because we don't want
to get it wrong and stuff you up! But we will give you a rough idea
as to what happens next.
· You see a lawyer and they
say it's going to cost $$$ but go for it.
· You apply at the patent office
· They do a search (this can take up to 3 years!) to see that the
idea is actually yours. While they do this they will stamp "patent
pending" on your application and this means no one can come in later
and gazump you. That is, no-one can steal or copy your idea and get
away with it!
· If your idea checks out - you're in. You pay your money and become
the proud owner of a new Australian innovation! It's yours to make,
sell, lend or just sit and think about at your leisure.
· But it only lasts a couple of years (...in Australia) and then anyone
can use it!
More
on patenting...
This is all too much - I couldn't be bothered patenting
it
Well, don't. Unless someone else has patented
it you can make/do your idea to your hearts content. Only, if it's a
good one, someone else is likely to come along and pinch it and if THEY
patent it you can't touch it anymore. So save up and get patenting!
And remember, a 15 year old invented and patented earmuffs in 1873!
Checking out its appeal - Phase
2 of Smart Moves:
So now you have your great idea and you've
drawn it up and your mum can understand what you mean. You may have
patented it or you may not have. Why not try it out on the real world?
There are a couple
of competitions going around Australia where you can enter you ideas
and win great prices and great cred. Have a look!
 back to worksheet page.
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