The cost is clear: or is it? Keep manufacturing costs in check so you can compete with the big names

Entrepreneur, March, 2004 by Don Debelak

3. HAVE A FINANCIAL RESERVE FOR WHEN THINGS GO WRONG. Inventors rarely experience smooth sailing from start to finish. There are always problems, and if you don't have money in reserve, you might not be able to adjust for a relatively small problem. Try to avoid completely running out of money, or you'll have trouble negotiating a good deal from a bank or investor. The best time to set up a line of credit is when you still have plenty of your own resources.

SET THE DATE

It's time to think about protecting your idea the second you start to think about it. But what's the best way? You wouldn't be the tint inventor to marl a sealed, stamped letter to yourself with your invention details inside.

But that tactic isn't effective, says patent attorney N. Paul Friedrichs. After an, envelopes don't have to be sealed to be mailed, and ideas can be tucked inside at a later date.

Instead, Friedrichs suggests inventors take advantage of the U.S. Patent and Trademark Office's Disclosure Document Program (www. uspto.gov/web/offices/pac/disdo.html), which costs $10. "The program is an excellent way to prove the date of invention," he says. "The Patent Office will act as your witness. The Disclosure Document Program does not provide patent rights but proves date of invention."

GET CRAFTY

The e-book Sly as a Fox offers just the kind of brainstorming help would be inventors need--especially those who recognize products with problems but can't find a unique solution. Written by Mark Fox and offered free for a limited time on his Web site (www.slyasafox. com), the book is chock-full of hints on how you, your friends and your family can work together to create a product with plenty of perceived value.

Two especially valuable sections of the book are "10 Mental Blocks to Creativity" and the "Sly as a Fox Toolkit." The "10 Mental Blocks" section evaluates ways of thinking that virtually everyone uses, such as logic, being practical and following the rules, and shows how certain patterns can create roadblocks to creativity. The Toolkit then shows you how to break through those roadblocks. These useful exercises will benefit any inventor who's trying to figure out how to build that better mousetrap.

Don Debelak is author of Entrepreneur magazine's Start-Up Guide #1813, Bringing Your Product to Market (www.smallbizbooks.com). Send questions to dondebelak34@msn.com.