Calling all Inventors: Six ways to make money on your

Calling all Inventors: Six ways to make money on your big idea.

Learn how to turn your dream into a true money-making invention. Use these six tips to build a foundation for success in todays competitive mass retail market.

1. Protect yourself. The first step to success is making the investment to protect yourself. It can cost anywhere from $500 or even $10,000 to patent your idea, but its worth it. This is an area you dont want to skimp on, even if it means you have less to spend elsewhere. Without a strong patent, youre more vulnerable to dishonest marketers and get-rich quick schemes and less attractive to the reputable marketers. Ensure the patent is in your name only; dont assign your patent to any other entities.

2. Do your market research. Market research doesnt have to cost big bucks. In fact, it can be as simple as mailing or e-mailing a quick survey to your friends and family. Ask questions that will help you determine whether there is a need for your product, if its appealing and if it solves a problem. Ask for honest answers and evaluations. You may find you need to change a few things about your product, but this initial step can save you...