The Online Investing AI Blog

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One of the themes of the Wealth Singularity is that wealth will no longer be earned. It will be created.

In other words, manufacturing and maintenance jobs won’t be the easiest ways to financial security (if they ever were). Real wealth will be generated by artists, inventors, and investors. This isn’t a new concept. Daniel Pink talks about it in his book A Whole New Mind. Ray Kurzweil alludes to the same thing in his book, The Singularity Is Near.

If you’re creative and are interested in inventing–an endeavor that we consider one of the paths to the Wealth Singularity–you have a lot of options. Unfortunately, the web has let in a lot of scam artists, who take would-be-inventors’ money and provide worthless patents and products.

Here are some of the most trustworthy resources on the web if you’re ready to stop being an idea person and start being an inventor.

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Accelerating Technology, Dreams Come True, Internet, Online Investing AI, Success books, edison nation, idea, incubate, inventions, inventors, startup nation, wealth singularity, web sites

Ever have an idea to fix a problem or surmount a challenge and then see that very same product in a store a few years later?

And you think, “Hey, they stole my idea!”

Chances are, unless your telepathic powers are fairly high-level, the inventor didn’t steal your idea. He or she just acted on the same concept that was floating around in the collective conscious. The difference is action.

If you have seen your ideas reproduced later by other inventors, don’t be discouraged. In fact, you should be encouraged. Here’s why:

Correctly identifying needs and solutions is a good sign that you can be an inventor or a product developer. To take that next step, you need to learn how to introduce your product into market. There are primarily two ways to accomplish this. You can either invent, produce, and sell the product yourself; or, you can license the invention to someone else and collect a royalty, a percentage of the sale of that product.

Most inventors prefer that latter, since it’s more hands-off and inventors like to keep their “hands on” new ideas. It’s another form of residual income that will help you secure your financial freedom.

Ideally, you would get a patent in order to license your product. However, as more companies trim their research and development staffs, part-time inventors are finding that companies are opening to new ideas, even ideas that are patented.

Obviously, making a best-selling product isn’t without its pros and cons. Here’s the break down.

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Dreams Come True, Money, Online Investing AI, Success ideas, invention, inventions, liscensing, Money, products, residual income, royalties