Wednesday, March 21, 2007

The Fastest Way To Make Money.......

Untapped Potential

The Fastest Way To Make Money
The Best Way To Make Money

(Subtitled: Inventors, Inventions and Funding)

Part Two

The best way to getting funding is to take what you love to do and find funding for it. Chances are what you love someone else loves it too!

I think that this is the harder of the two routes to take but I also think that it is the most worthwhile of the two routes. When you are working on something that you love, that “love” will show through. There are countless real-life stories about inventors inventing something that meant something close to them, not being able to find the funding, funding it themselves and THEN receiving funding for it!

What if you don’t have the money to fund it yourself? Then you will have to seek the funding from somewhere else. That “somewhere else” will depend on your invention itself. Who would benefit most from your invention? Would it be the government, the private sector or a specific industry? Then that is where you should be seeking your funding.

There is NO way around it – YOU HAVE TO DO SOME LEGWORK!. In its most simplest process compile a list of those who would benefit the most from your invention. Then you have to contact them. The internet makes this a much more simpler and faster process – USE IT! Contact them and find out what is their procedure that you will have to go through to make a presentation. If they are not interested then fine (it’s their loss), go on to the next name on your list!

It is a bother but it is a necessity that you have a presentation plan. You have to have something on paper to present to them! You have to show them why (and how) your invention will benefit them and why they should invest their money in it.

As far as grant-funding programs are concerned, the process is a little bit different. Each program has its own set of rules for applying for funding and you will have to comply with each and every one of them INDIVIDUALLY! You can’t fill out an application for one funding program and then submit it everywhere BECAUSE YOU WILL GET REJECTED!

*As a side note I should also mention that the funding is not just limited to the actual production of the invention. Funding is also provided for RESEARCH! That means that there are funding programs that actually exist to research the viability of a product (or invention)

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