Home Bussiness Ideas

IMPORTANT:
This report is not meant to replace solid, competent
legal advice, nor is it to be seen as legal advice. Please
seek competent legal counsel before signing or preparing
any legally binding document. The purpose of this report is
for entertainment and informational purposes only in regard
to the subject matter.
———-

Having said that, here’s the way this business generally
works:

If your ideas are unique, some company just may be willing
to pay big bucks for some of them. Let’s talk about
how to protect your ideas to make sure that you get
paid for them.

Your saleable ideas can be something tangible or
intangible. Ideas include such things as mechanical
methods, chemical compounds, designs, works of art,
advertising and business plans, ideas for improving
a design, flavor, etc. of an existing product or
service.

Millions are paid out to “idea men” each year by
various industries. If your idea will increase
production, increase sales or improve the product,
they might be willing to pay substantial money when
they accept it either through a single lump-sum
payment or royalties, or a combination of both.

First, you need to know how to protect the ideas that
you generate. Ideas that are made public by word of
mouth or even in writing become public property unless
you first make an agreement to retain all rights to
the expression of your ideas.

You can further protect the expression of your ideas
through a copyright, trademark or patent, but in most
cases that is not necessary for this plan.

Let’s say that you have an idea for increasing the sales
of an existing product for company XYZ. Write them a
letter similar to this one in duplicate:

—————-
SAMPLE:

Gentlemen, I have developed a new idea for increasing
the sales of your product. This new method might not
increase your costs in any manner. If you are interested
in the full details I shall forward them to you upon
receipt of the below signed agreement.

AGREEMENT TO REVIEW IDEA. We the undersigned agree to
receive, in confidence, full details about an idea for
increasing the sales of widgets as submitted by (your name).

It is further understood that we assume no responsibility
whatever with respect to features which can be demonstrated
to be already known to us. We also agree not to divulge
any details of the idea submitted without permission of
(your name) or to make use of any feature of information
of which (your name) is the originator without payment of
compensation to be fixed by negotiation with (your name)
or his lawful representative. It is specifically understood
that in receiving the idea of (your name) it will be
reviewed in confidence and within a 30 day period we will
report to (your name) the results of our findings and will
advise whether or not we are interested in negotiating for
the purchase of the rights to use said idea.

—————–

Have them sign both copies and return one to you.

Why would they sign this? Number one, if it is a really valuable,
new idea it could sugnificantly increase their profits or
reduce costs… if your idea does both, then even better!

Once the compnay has signed this you must submit complete details
of your idea to the company. After they review your idea they
must, by law, follow the instructions of the agreement.

There are a number of people earning a really good living
($100K+/yr) just thinking of new ways to help market or
improve other people’s products and services!

Some are earning substantial money, $1 Million and more.

Just imagine one small improvement made to an existing
product that pays you just 1 cent per unit in royalties. If
millions of these are sold each year, you’ll make money non-stop
for years to come - all passive income.

The sky is the limit but just be sure that you first get
the agreement signed prior to disclosing your idea or
submitting any details at all. It’s true though, many companies
will be reluctant to sign these agreements, but those that do
can be your path to a whole new (passive) way to make
money.

To increase your chances of having ideas accepted, spend lots
of time preparing complete (and I mean complete) details
before you submit them. This is the key!

Include illustrations of drawings if it’s necessary, or
even complete 3D ‘models’ to help sell your idea or flow-charts,
etc… the more professional your presentation the better your
chances are of getting it accepted.

Arbitrage is a technique used in the stock market by large players who search (with powerful computers in real time) for price discrepancies from one market to another.For example, if they see dealers in London trading IBM stock at 1/8th pt lower than in New York, even if it’s only for a few seconds, they’ll grab it at the lower price and sell it in New York where they’ll make an 1/8th pt profit.Usually dealing in very large lots (100’s of thousands of shares) arbitrages are made possible by these kinds of short and infrequent ‘inefficiencies’ in the global marketplace.I’ve applied a modified version of this stock market method to eBay with excellent results. EBay is a huge marketplace, and even though it’s centrally located (in cyberspace) it is still a relatively ‘inefficient’ marketplace.There are several reasons for this- availability of detailed market information available to the participants is one major cause of this phenomenon.It’s better to specialize when it comes to buying and selling on eBay. Become an expert in ‘Zippo” lighters or rare books or whatever interests you most. Add depth to your knowledge, read more books, study anything related to your field- that way when you see a Zippo lighter with a tail like a fish and the person who listed it obviously missed this very important point in their description, you could end up owning it for very little money.Then you turn around and sell it on eBay again, for a nice profit because:

+ You recognized it’s true value,
+ Described it correctly,
+ Added better pictures, and
+ Generally instilled confidence in bidders that you know what you’re selling.

In other words, you have *added value* to the item by describing it more accurately and more knowledgeably than the previous seller.

That’s what I call the “eBay Arbitrage Strangle”.

Here’s a how I take advantage of eBay’s market on the BUY side of the trade:

Develop a list of “search terms” that will help you locate items you’re interested in. You will get suprising and great profit oppotunities by entering ‘missspelled’ words. One program I use to help me find misspellings on ebay is THE MISSPELLED EBAY SEARCH SYSTEM. The system not only FIND thousands of misspelled items with a click of a button, but also be notified via email THE SECOND an item is listed. It’s a must-have ebay tool.

Anyway, when I search for rare books on eBay I always have a list of terms, in a text file on my computer and all I have to do is ‘cut and paste’ those terms into eBay’s search window. When developing your list of terms, use terms that a person who didn’t know a thing about what they have listed would use. In my example above, with the Zippo lighter, search on “Zippo and fish tail”. Be obvious in your search terms.

When you find an item that you know you can make a profit on, bid early and enter the highest bid you would be willing to pay. Don’t ever go back and enter another bid. That’s a sure way to lose money. If you get it at your price or better, good! If not, and the item goes beyond your highest price, forget it and move on. It’s easy to have bids in on 50 to 100 items at one time- if you win 10 or 20 out of 100 you’re doing pretty good.

Here’s a summary of this profit opportunity:

Strategy: Buying low at one auction site like Yahoo auctions or Amazon’s Zshops and selling in another more active market (like eBay) for a premium.

Timing: The best time to use this strategy is when there are price discrepancies between the different auction sites. Generally slower markets with fewer bidders are the best places to buy- and more active markets with a larger number of bidders is the best place to sell.