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Blog ImageWe briefly discussed creative capital last week, and it’s a topic that deserves a bit more exploration. In essence, one way to become rich is to be able to move an idea into your asset column. Those people who have had an innovative idea and put it into production, whether it was for an automobile or for Post-Its, have been able to move that idea from “idea” to “asset” in a very big way.

A lot of great ideas get discarded before they are developed, and a lot of ‘great’ ideas deserve to be discarded before they take up too much time and end up being a problem more than a solution. That’s where objectivity and research come in.

Let’s say you have an idea for a new product or a variation on one that has been successful. The first thing to do is to check out the marketplace--globally. The best scenario is if you can find a void in that marketplace and find something unique to fill it. But if not, there is always room for excellence in both products and ideas. It’s important to consider that you could have something to offer that would be viable as well as valuable.

In the current economy, many people are being challenged to find alternative venues for income. That can be an exciting time if you approach the situation in a positive light. “Necessity is the mother of invention” is a proverb that resonates because it is true. It’s also empowering to think of being an inventor--what doesn’t exist yet that could or should exist? That way of thinking will open you up to the possibilities that are definitely there. Your creative capital might be waiting for you to discover it.

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13 Comments

[-] Posted by member11009378 on 08/26/2009 6:14 PM
Unfortunately, an expensive patent is needed to protect your idea
[-] Posted by Rachael Sutton #1253595 on 08/26/2009 6:25 PM
Mr. Trump,

You have always been a great one to recognize good ideas, and I imagine by now, you know all the ins and outs on how to market even the ones you don't wish to personally oversee without worrying about someone beating you to market.

I have no trouble coming up with a plethora of new ideas, but, while many will improve things, I do not have the resources or passion to see many of them through, so if I give them away to those who have a direct interest, and someone else can benefit financially, while everyone benefits from the product, then, to me that makes more sense than burying them and maybe forgetting them or not putting them to good use. As long as I don't care who gets credit for them, I can get a lot done indirectly. The more I share them, the more ideas come.

What I need to learn is how to develop an idea that I am passionate about without sharing it till it is market ready. How can I research without tipping off those who wait to capitalize on others efforts? How do I protect my intellectual property?

This entry reminds me of what Oliver Wendel Holmes once said "Man's mind, once stretched by a new idea, never regains its original dimensions."
[-] Posted by Markku Tauriainen on 08/27/2009 7:08 AM
Peak performance is to put innovation from "STAND BY" to "GO". And in that way that the possible buyer or benificier in involved to the action. Mr. Trump is right saying many good ideas not come up to public knowledge. In Finland, we have lately informed all common sense innovators forget the ideas if they don“t understand to innovate selling and business profits to innovation too. Our leading innovative intellectual mr. Pekka Himanen http://en.wikipedia.org/wiki/Pekka_Himanen have been speaking this matter quite often. It is good to be a innovator - but in the future and today world is demanding innovations with business plan maid "READY TO GO" status.

So, if yOu are a innovator or creative sales person - do please be business oriented too. And if I may quote Mr. Donald Trump own words: Do only what customers want and what tehy are willing to pay for: So - the question is: Is Your innovation what people want to buy? Have You asked from customers?

Best Regards,
Markku Tauriainen
Finnish Entrepreneur
www.angelo.fi
Founder & CEO
P.S. I have been following mr. Donald Trump blog now some about 2-3 year. I have found many articles benifitable and usefull to remain me to be what customers want. Or at least try stay focused on that path, whic is only way to make profit & successful business.
[-] Posted by member1982261 on 08/27/2009 11:13 AM
I always have new business ideas, however most of them remain undeveloped due to lack of time, capital or other reasons. However I document all ideas I have and might use them in the future.


John,
http://www.canadabanks.net/Financial-Calculators.aspx
[-] Posted by Cheryle on 08/27/2009 11:26 AM
The proverb, "Necessity is the mother of invention," sounds like a joke I heard about the first caveman who discovered fire. This was not an invention, it was a discovery because fire already existed.
"Stick-its" are not a necessity. Although some people find them useful, generations have lived without them, and still can.
Of the necessities, based on Abraham Mazlow's Hierarchy of Needs the following is an important theory:
* Physiological - breathing, food, water, sex, sleep, homeostasis, excretion.
Safety - security of body, employment, resources, morality, the family, health, property.
Love/belonging - friendship, family, sexual intimacy.
Esteem - self-esteem, confidence, achievement, respect for others, respect by others.
Self-actualization - morality, creativity, spontaneity, problem solving, lack of prejudice,
acceptance of facts.
From Wikipedia, the free encyclopedia.

If current businesses adhere to these basic needs they are more likely to continue to be in business many years to come provided a global war doesn't leave our planet short of the ability to produce necessities such as food, clean water, and protective clothing...

Being innovative for profit alone is seldom enjoyed as much by people than the "profit that comes during the creative process." As an Artist first, and an entrepreneur ( that can struggle when the economy changes for the worse), I find self-actualization can happen independently.

After checking out the marketplace-- globally, I can see where businesses are failing due to the lack of understanding basic needs.

I agree with you that there is always room for improvement. Being different, just for the sake of being different, is not necessarily improvement. Building materials for homes are an improvement when it provides better safety to people and animals and deters property damage which is very costly to replace. There are countless examples where existing products can be improved upon.

What doesn't exist yet that could or should exist? Global appreciation for the many things we already have and the opportunity to share them to improve the quality of life for everyone, not just the people who have the money to buy what they want for him (or her) self, and a selected group of others.

We are empowered by Wisdom, which comes from Experience. Learning is what we do to gain both.
Perhaps more stimulus money should be invested in adult education rather than on bailing out car companies with built-in disposable mentality. Just observe the amount of garbage that we produce everywhere, everyday. Valuable things that enhance beauty shouldn't be destined for the recycle bin.
They should be admired, and valued so future generations can use them. How many modern "inventions" can this be said about?

Yes, creative capital (money) is needed to get people to think and empower them to make room for excellence in both products and ideas. This creative capital will open up the possibilities that are definitely there. I hope my creative capital is waiting for me to discover so this can be an exciting time for me and I can approach my situation in a positive light. If not, I'll have to do it the old-fashioned way--
I'll have to EARN IT!
[-] Posted by member11007470 on 08/27/2009 5:36 PM
This is just a proven lesson. I am an investor and inventor who holds a Patent currently. The Mortgage business is full of psuedo inventor-types that are looking for alternative venues to generate income from. Great little tidbit. Any news of the "Start-up Capital" sector coming back?

Thank you,

WLewis
VOYAGEHOMELOANS
[-] Posted by Rachael Sutton #1253595 on 08/27/2009 7:54 PM
In response to the deep thought as posted by Cheryle on 08/27/2009 11:26 AM I would add, transportation to get those products to the right markets. In a global economy, that in itself is a product.
[-] Posted by member1815053 on 08/28/2009 3:27 AM
It was joyful to notice that there are other persons too from Finland; Markku Tauriainen and Pekka Himanen. When we are not speaking with our names in this blog so we can not know who we are. I think in this case it is benefit to know each other and go on this discuss outside this blog also, maybe this arises new innovations between Finland and USA, we can only hope so. Or shall we say it WILL arise co-operation, as we have learned from Mr. Donald Trump saying that you must trust to your abilities and to your success, without this feeling you can not accomplish anything.

Sometimes it is benefit that you do not know the person with whom you are talking, so you can say anonymously your opinion. Even usually shy and quiet persons can get their opinions forward, silent knowledge is very often important.

I am working in MTT Finnish Agrifood Research and there this IPR Innovation activity is strongly on display. Concerning my own career and educational aspects I am studying business economy and graduating for the exam in administration and I have to adapt my studies and work together and bring advance to my employer also.

I have followed globally with great interest our economically influentical situation and now there is challenge and good chance for everyone to get an good idea how this economical situation will be resolved or to get boost to your own good idea. Calmness is the key to success now.
[-] Posted by Greem Beam Solar LLC. on 09/04/2009 9:49 PM
I think this is really great information very helpful.
[-] Posted by member11013520 on 09/11/2009 9:34 AM
Mr. Trump,

I have 2 ideas that I believe would sell in todays market, but currently I have serious money issues. I have be laid off from the auto industry and employment in my area is almost nonexistant. I can't afford the expense of getting a patent because my children have to come first. Is there any grants out there for me to get started or any investors that would be willing to listen to my ideas? I don't know who to ask around here because of all the corruption you here about in the news. I also thought about the site inventhelp.com but there has to be strings attached to them too. Do you have any suggestions?
[-] Posted by member11013786 on 09/12/2009 1:02 AM
Mr. Trump, I have a big idea for you. why dont you built a hotel that looks like the jetson the cartoon.....we are in the future and since I was a little i always dream in staying in a hotel that looks like the jetson.....tell me have you ever thought of that.

mayra, from chicago, il
[-] Posted by member11014021 on 09/16/2009 4:58 PM
their is a cheaper real estate investing then the foreclose card.
I bought my first house at 16 for 800 dollars, i put 200 dollars in paint. Sold that house after living rent free for two year for 39,000.
It was not a foreclose house. tax sales are cheaper and safer, but not the only card ether.
its all about knowing location and market moves. The highest return for the least investment.
I'm no trump (hehe) really don't want to be. To public for me. if trump ever looks at these post a little ad vice not cutting you down, your a very very smart man. hitting back as you put it, does nothing but keep the person in the public eye. i find that a little private chat in the right place does a lot better. I don't look like I'm a hot head on the attack. Don't give your power away. Giving into anger in public is giving very public power to that person and the longer that person can keep you angry the more of your power your giving them.
Be as smart as you are with your money with your base power.
think of it as a poker game or a very tight bargain. The more they see you have been pushed off balance the more gotya's they can get thought.
Unless you really meant to do a promo for that person. I've never marketed a person before I'm learning as i go.
[-] Posted by member11038370 on 11/19/2009 3:11 PM
I have this idea to create greenhouses that are dedicated to fruits and vegetables. My problem is trying to find grants to get this growing. I will be able to employ 10-15 people which won't help alot but it will helpa few. I can not afford to do this on my own as my husbands hours have been cut like so many others. If there is anyway you could give me some advice it is much needed. This is my last day on the internet as it is not edible so if you could just drop me a line at Weeks, 6043 FM 697, Sherman,Texas 75090 it would be greatly appreciated. Thank-you for listening, Dee Weeks
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