Friday, February 24, 2012

Entrepreneurship Insights: Ten habits of highly effective inventors

1. They note down their ideas in a notebook (just like my Investment Notebook!). Every idea is worth considering.

2.They think through their ideas over and over again before applying for patent.

3. They do their homework and invest a lot of their time doing extensive research (through internet, malls and prior patents for similar ideas).

4. They are good salespeople and can make good sale pitches.

5. Passionate about their ideas.

6. They constant improvise their concept to solve existing problem. They have no qualms seeking inputs and making revisions to their first prototype.

7. They are fiercely persistent and do not give up easily. When one experiment fails, they recover from the initial setbacks and try again.

8. They work well with partners. Good ideas are often turned into great ideas when shared with like-minded inventors or partners.

9. They are versatile and will not hesitate to let go. They experiment, learn and improve and know when to let go.

10. They enjoy the process of inventing and creating a business. Only very small percentage of ideas ultimately makes money. But effective inventors often thrive on the challenge of making money out of creative ideas.

Magically yours

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