in this video we're going to discuss how much it should cost you to build your
first invention
you might be surprised to find out my answer to this question how much does it
really cost to build your first invention well that depends on how much
money you have and what your tolerance level is but for the most part I can sum
this up pretty easily I'm gonna go out on a limb here and tell you that your
prototype shouldn't cost you more than $1,000 maybe 2,000 at the most
are you surprised in this day and age with 3d printing all types of rapid
prototyping design houses that will do your circuit boards all the different
things available to you on the Internet it shouldn't cost you a lot of money at
all so my question to you is how much are you willing to risk if you liked my
answer to the question and you say well I have lots of money to spend
slow down there you don't want to waste money either you want to start thinking
about your ideas differently if you'd like what you've been learning so far
please be sure to subscribe hit that notification bell give me a thumbs up
and leave some comments below I love to answer all your questions as I mentioned
before I tend to find markets first and then come up with the idea and you
should think the same way think about how much you have to spend on your
prototype and then start thinking about the idea that you can build for that
amount it's a different way of thinking and that's what separates the inventor
from the dreamer and remember this channel is for those of you who want to
actually be real inventors and not pay somebody else to build your product for
you keep dreaming if that's what you're looking to do okay so you have a few
thousand dollars to spend let's just call it a thousand bucks for the
prototype you should be able to build a circuit board a 3d printed case or even
use the extruded cases like I outlined before in one of the other videos that I
showed you on eBay you can buy extruded cases with punched holes easily very low
cost and then just put your circuit board inside of them it's a much cheaper
way to go and I strongly recommend it for your first product think about
extruded metal cases go back on eBay and take a look you'll see
what I was talking about so your invention doesn't involve electronic
components that's okay remember we were talking about seeing see machine
products as well they're a great way to get started go find a machine shop in
your area start drawing up your design and get them to help you they'll be
happy to help there's plenty of machine shops throughout the United States and
Europe so we're gonna have $1,000 maybe 2,000 at the most for our invention
doesn't that sound reasonable doesn't that sound like something that you can
save up and risk to bring your dream into a reality so are you still having a
hard time believing me remember I showed you that circuit board that only cost me
48 dollars for a set of 3 they were blank boards and the components that I
put on the board cost $26 the entire circuit board cost me less than $100 to
prototype now obviously I've been doing this a long time so I know how to keep
the cost low and once we start manufacturing to get the cost down we're
gonna be making hundreds and hundreds of them so there is investment there but
you don't have to start out that way you could start out with a hundred circuit
boards a hundred extruded cases that the company punches out for you and put your
silkscreen on so you have very little work involved you could technically even
hand solder I don't want to recommend that because I can tell you that there
are a lot of circuit board manufacturers in the United States and Europe that'll
be happy to make a hundred for you at a low cost
just to help you ramp up because they want your business so remember there are
people out there looking for business and you might have the idea that can
help them achieve their goals too so they will be willing to do some work for
you as long as you don't ask for anything for free I'll probably do a
whole video on just that about how people ask for stuff for free and then
get nowhere remember you're only worth what you're paid and you're only
respected as much as you're willing to pay so you must offer something to these
people or you're just not going to be taken seriously does your idea involve
an injection mold okay so start getting an injection mold companies
start sketching out your idea just like I talked about you are gonna have to
learn some 3d design software but believe it or not the mold houses will
help you with your design now a word of caution with injection molded products I
know a lot of people that have designed injection molded only products and I can
tell you that they're the first ones that get ripped off
they're easy to make the molds that are easy to knock out lots and lots of the
product I know quite a few successful products that were done here in
California that were eventually knocked off around the world so that's my
caution I'm not saying you can't do it but remember you got to be first in sell
lots of them and be prepared to get out because it will be copied interestingly
enough I've been doing this a long time and a few of my suppliers have seen sort
of a downturn in their business you know we've had a bad time in the United
States the last eight years let's say and now that it's picking up again
they're looking positive to the future and they're coming to me and saying hey
look what can we do to help you to help us manufacture more products so they
want me to design stuff because they know I know how to find markets and
they're willing to do anything they can just to keep their people working so
remember people are willing to help you you just have to ask but don't ask for
anything for free
you
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