Some years ago, when I first bought my present boat, I disliked the way the water pump worked. These are 12V pumps for use in domestic water systems in boats, RVs etc. The way they are designed the pressure regulation is very bad. So I set out to improve on it and, after some intensive mathematical analysis, I came upon a solution which was so simple I could not understand how I was not obvious at first sight. I modified my pump and it worked so much better… and the cost was zero.
I knew that I could not make money just from the idea so I was willing to give it away. I called the manufacturer… and never got past an obnoxious secretary: “No, we are most definitely not interested in hearing about your idea even if you give it to us for free and renounce all your rights.” Hmmm… ok.
I thought it was such a simple and useful concept… I wrote a boating magazine which carries articles about this type of improvements and explained the idea for an article. “Hmmm, yes, great idea… unfortunately it does not fit our style due to length, illustrations, etc.”
So, I have a great idea… and I can’t give it away, much less make money out of it.
An idea for a good product is a minimal part of a successful company. Great marketing, distribution, financing, sales, manufacturing… these are some of the many essentials. If you have all that, then you have your own team developing products. If you don’t, you will not be able to make money no matter what. Great products have failed due to bad strategies. Not to mention that what you see as the greatest invention since sliced bread, the experts in the field may consider worthless and would not give a dime for it.
The best video systems disappeared gobbled up by VHS which was marketed the best
In general a company is not interested in dealing with one-shot inventors for the same reason it likes to deal with stable suppliers, distributors etc that are known and constant. Try selling your first load of widgets and see what I mean. Most places will dismiss you and say “who the heck is this guy?”
They have their own team who delivers ideas for new products and improvements on existing products with clockwork regularity.
You really think you have the greatest idea since sliced bread? Publish it in a trade journal. Maybe you’ll get lucky and someone will call you to offer you a deal for your idea. It is possible.
The alternative is to go into business and do it yourself. But for this what you need is not an idea for a product, what you need is a good business plan. The idea is to make money.