Anti-TWD patent application
While Anti-TWD patent application is carefully worked out, we deviate to subjects of general interest of us 99% inventors. There are two subjects I wish to discuss today. One is about growth potential of a market one should choose. Other is a suggestion from a reader about an app for schedule.
Most inventors start inventing because it solves a problem, and by doing it the inventor hopes to make profit. In order to increase probability of making profit from an invention, one of necessary (but not sufficient) conditions is the size and growth potential of the market. The larger the size and faster the growth of the market, the more chance the inventor would be rewarded with good income.
One of the most attractive markets us 99% inventors need to carefully observe is that of healthcare, or so-called medical industry. Its total expenditure has reached $2.8 Trillion per year in 2012 and its growth beyond 2014 is expected at 6.1%. This translates to approximately $9,000 per person in the health related expenditure. By simply calculating the growth beyond 2014 alone, it amounts to $170 Billion per year. This compared to the auto industry, whose personal expenditure amounts to mere $350 per year and its total expenditure comes to approximately $110 Billion per year – a mere drop in the bucket compared to the gigantic health industry. See FIG 1.
In fact the yearly growth portion of the health industry is larger than the total automotive industry – a staggering fact that you shouldn’t ignore. Every year starting from 2014 on, the health industry grows by $170 Billion. Inventors, imprint this in your brain.
Now, fellows, you’d ask: “OK, I see that. What shall I do to share the huge wealth of the health industry?” The fundamentals of successful inventing (Inventics® 12 steps) is same for any industry. Step 1: Find a problem. Step 2: Solve it. Etc.
Since the health industry is a huge world, you must know someone or two who work in that space. If the person knows no problem to solve, then ask if there are others who know of a problem or two. Networking is the way to reach the problem. I strongly recommend our amateur inventors/readers to look into the healthcare industry.
A Software Problem: A reader in New York writes this (excerpt):
I’m looking to automate a sales process for the event industry. It gives instant custom service proposals to customers and helps build strong sales leads for the software’s user. What I really am looking for is someone who can help me understand if a patent is valuable for my idea, and if so- how it can be done without the $50,000 quotes I’ve been given. The software is already in development. Can you help?
The reader states that his field is the event industry, and he wishes to develop a software that simplifies and automate the proposal/quotation process. The software industry offers a large assortment of scheduling, calendar, even planning and cost calculation software in the form of desktop type as well as app in numerous variations. My first question is “Did you really search and study various software available in the market before you started developing your own? My 2nd question is: just what problem you wish to solve is, that available software in the market do not? Amateur inventors often start “reinventing wheels” without first studying the answer to the above two questions, and waste large sum of money as well as time.
Regarding your question of patentability, I strongly suggest you do not try to waste any of your fund in that direction. Software is like writing a novel using the English language, and slight change in the code would come out in the vastly different versions and results. Your type of software, namely of scheduling, cost estimate and time-line event line-ups are written with the smart combination of database software such as Microsoft Access® or Filemaker®.
Regarding the cost estimate of $50,000 you received from a code writing vendor, I do not believe that is outrageously expensive, although it could be less if you do it yourself. Depending on just what the expense quoted includes, the User Experience (UX) portion of the software, the display, ease of data entry, smooth and easy learning capability, elimination of bugs, writing and printing the operations manual would take approximately 400 hours – or roughly 10 man weeks. Many software fail in the market place simply from excessive skimping of the development cost that results in unpredictable bugs that annoy and disturb customers. If your vendor has a stellar and well-established reputation, you might be far better off letting the vendor do the development. In the trade of code writing, there is a term “spaghetti code” to express hopelessly poorly written software. Once the foundation of the program is poorly written, there is no end to the recurring troubles. A castle built on the soft mud would continue to settle and crumble, and this applies to software as well. See FIG 2.