September 21, 2007, Newsletter Issue #125: Invent Your Way to Entrepreneurialism

Tip of the Week

Entrepreneur.com Tip: Today, the term “mompreneur” is a hot keyword. There are mothers all over the place coming up with amazing children’s products business ideas that are turning into full time operations!

You don’t have to be a mom to get in the game. If you have an idea for a children’s product, nurture your idea and see where it takes you. Some ideas for businesses include:

Personalized story books
Toys and tools that aid in potty training
Educational toys for all ages
Kids’ identification kits
Tutoring tools
There are organizations that help entrepreneurs develop their idea or invention, and even companies that will design and manufacture the product, while giving you a royalty on all products sold. Because these companies handle the marketing to the proper channels, all you have to do is come up with a winning idea!

Like anything, coming up with a children’s product requires research. You should spend plenty of time finding out if anything similar to your idea exists in the marketplace; if it does, think about how you could modify your product to offer benefits the existing products do not. Carefully lay out exactly who your target market is (boys and girls age 5 to 7? their parents?) and develop a marketing plan before you contact a company for help in getting your product to market.

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Carma Spence-Pothitt