Did you know you can get paid for ideas? To answer this, we have a mountain to climb, but let’s start from the peak, in that, everybody has an idea.
Unfortunately, ideas are meaningless unless they are implemented in a certain way, shape, or form, and towards the accomplishment of a meaningful goal.
Well, for your information, there are people or companies out there who pay for top-notch ideas. It is the ‘meaningful’ bit that carries all the weight; you need a keen eye to see gaps in the market or social problems you think you can solve creatively.
Just to be clear, many of us don’t fancy lengthy commitments or rather the hustle of coming up with marketing plans and risking a lot of capital. So, having an idea that you can sell without having to execute is a profitable way of putting your brain to work. Don’t you think?
Fortunately, you can sell ideas to companies. No matter which idea it is, there is a possibility that a certain company is willing to pay for it. After all, companies are here to invest in revolutionary ideas for profits.
In this article, we are going to look at not only genius ideas but also where and how to market them.
To get you started, here are some of my top picks for groundbreaking ideas for earning from home.
Make Money Ideas from Home
Many people say that ideas aren’t worth anything. Well, this is true to the extent that an idea sitting on your head can’t help anyone. The difference comes when you put it out there.
Take for example Stephen Key, the co-founder of InventRight, who has over 30 ideas licensed across different companies.
Apart from making a fortune with his licenses, he had the brilliant idea of coaching and helping others looking to get paid for ideas online perfect the art.
So, just as you can make money from an office in New York or Paris’ Central Business District you can as well earn from the comfort of your home.
Below are great ideas that can shine a light on your inventive ideas from wherever you are.
1. Creating a Blog
One of the best ways to earn passive income is by creating a blog. Even though the process of starting a blog might be simple, you’ll be required to put maximum effort into the initial stages in order to reap benefits going forward.
But how do you make money from the blog? The trick is to produce more content and line up offers. And when your blog starts picking up, millions of advertisers will compete for your ad space.
This means more relevant ads, more money, and overall platform growth. On your blog, you can as also provide snippets of your ideas and have readers block to buy them.
At this point, generating income and scaling out your business becomes straightforward. With popularity, you will be able to attract businesses who are willing to write for you in exchange for a link back to their brands.
And that’s just one way to make money from a blog. What’s more, like any other passive income activity, you set up a blog once and get paid repeatedly.
2. Social Media Management (SMM)
Social media management is simply the process of analyzing audiences on social media platforms and creating a plan that’s tailored to their likes.
Your tasks will also involve distributing and creating content for different profiles whilst monitoring online conversations for feedback and suggestions.
Before you sign up for clients you need to:
- Build a social media following of your own
- Get to learn where your ideal clients hang out online. Even better, you should attend networking functions, industry events, and conferences to widen your knowledge of the industry.
- Manage your time on social media. That is you create a social media calendar to avoid finding yourself scrolling aimlessly.
- Find out how much your competitors charge to decide whether to go for more or less
- Learn advanced marketing skills like how to customize and monetize YouTube videos
- Have a reliable smartphone. In the modern world, if you can’t interact with your clients promptly and on a mobile device, you might as well not even exist.
From there, you just need to charge a sizeable monthly amount and watch your bank account grow, easy.
So how much can you expect to make monthly after actualizing this idea? Payscale puts the average salary for SMMs at around $16/hr and $4,200+ per month.
3. Create Online Courses
Creating an online course is a great idea to making some extra cash. And unlike people’s beliefs that it requires a lot of money, it doesn’t. If you’re an expert, you can develop a profitable online course at zero cost whatsoever. What’s necessary is your time and effort.
Things to consider include the course topic and target audience. Once you have developed the modules, use social media to reach out to a wide audience. Get paid by having interested people subscribing to your social media releases and training portals.
Stick to the required course plan and publish success stories to get more people to join, which means more money for you.
How to Pitch an Idea to a Company and Get Paid
Perhaps you’re full of great ideas but not so much a mind of starting a business. You could also be inclined to advance on existing ideas rather than focusing on setting up from the ground up. Whatever the case, if you can come up with a novel idea, most companies will pay to actualize it.
So how do you pitch an idea to a company and get paid? Let me explain:
From the word go, license your idea. And before you even consider pitching your idea to anyone, be sure that you’re clear in the following vital fields:
Step one: Know your market
Do some legal legwork and learn about rules and laws governing the introduction of new ideas and intellectual property.
Step two: Have a professional presentation
At some point, you’ll have to present your vision to potential licensors and investors. When dealing with tangible products, have a 3D prototype model.
The best case is to ensure that your presentation conveys all the information on a single sheet that clearly states the following:
- The challenge
- Your products feature and benefits
- Products market
- The legal status of your idea
Step three: Identify your targets
Pinpoint the most appropriate contacts of at least 50 prospective targets. Why? This is a game of numbers and you should expect most companies to close doors on you for one reason or the other. How do you know a good fit? Go to a store where you’d expect your product to be stocked and note down the manufactures that produce similar products.
Step four: Weigh your targets
There are a number of factors to consider including size, geography, competitors, access to the highest office, company policy, and operational reputation.
To land the best company for your idea, you can do a Strength, Weaknesses, Opportunity, and Threats (SWOT) analysis. Essentially, this form of scrutiny helps you judge potential investors on the same scale.
Step five: Scaling
After equipping yourself with the required information, presentation material, and likely targets, how do you get a good deal?
The best offer is one that compensates you handsomely and gets your investor what they want- a win-win situation. However, set realistic expectations.
In other words, don’t expect to get paid millions on the first day. This is because most businesses prefer a scaling strategy- whereby they pay for an idea at the same rate that it generates revenue.
Having said that, the best approach is to target high up-front cash, a high annual minimum payment, and high royalties. How confident are you in the longevity of your idea? If your answer is “very”, then you can go for a low initial payment and high percentage payment charged per the volume sold.
Of course, considering that the other party is in it for maximum profits, they will be haggling for the lowest amounts in all instances. So, good luck!
Expert Advice: When looking for buyers, do not ignore companies whose products may compete with your idea.
Such investors may actually pay the best upfront, just to ensure that your idea never sees the light of day.
For example, who do you think would pay the highest for a vehicle design that runs on water; a gas company, or a water treatment company?
As you ponder this unsettling reality, read on for ideas that can make you money fast.
Get Paid for Movie Ideas
As a writer seeing your name appear on the silver screen is a lifetime dream. And if you are like me, then at one point you’ve had an idea for a good movie plot.
The problem is, if you don’t know how to get paid for your script, then we never get to see your imagination come to life.
But you are not alone, there are scores of veteran screenwriters still battling to transform their ideas into cash. The biggest hurdle is communicating your idea to the right person is another hurdle to overcome.
So, how do you make money with this skill? The first step is compiling your idea into a movie treatment.
The goal here is to communicate your thoughts in a brief and compelling to agents, directors, and producers. It’s simply a way to put you above everyone else who has a screenplay idea stowed away in their head.
Next, identify the budget of your screenplay. This will help you when deciding whom to pitch to; an agent or directly to a production company.
Agents will, however, help you close a deal easily since they have connections in the film industry. That said, agents may not get you the best pay. The reason being that, if you use an agency and the production company likes your idea, it pays the agency, not you.
The money you pocket from the payout is usually 85%, with the agency taking 15% as their commission.
How to Charge for Movie Ideas
As a writer, earning the top dollar should be the priority when selling a movie idea. To this end, the Writers Guild of America has guidelines on how to price your creation.
For example, a costly 60-minute TV movie story can fetch a minimum payment of around $15,904 for the writer.
Note that the rate depends on the airing duration and intended viewership. This is to say that, holding other factors constant, a 5-minute skit pays less than a feature film.
The uniqueness of your idea also determines your take-home. It follows that, with a complete screenplay draft, you can earn a minimum payday of anywhere from $34,963 to $119,954 for non-original and original screenplays respectively.
From one peak to another, let’s move from movie ideas to ideas you can sell to search engines.
Sell Ideas to Google
As we noted earlier, ideas alone aren’t enough but rather, it’s the execution that counts. This is why it might help to reach out to like-minded inventors and that’s where the power of the internet manifests. So, while Google does not pay for ideas, the giant company can connect you to investors through crowdfunding websites.
This is how to go about it.
To have the sole right of selling your idea on Google you have to patent it first. Then, proceed to research your idea wholly using questionnaires and surveys to get an insight into your target group. Afterward, create a place for your idea in the Google sphere. Further, catalog your proposal in Google maps, create profiles using Google Places pages, and run its ads. All this will increase your idea’s visibility.
To market your idea on Google, come up with a PowerPoint Deck (presentation slides) and be sure to highlight important information that is relatable to the masses. The next step is to create a website that informs, educates, and engages your target crowd. It’s also prudent that you capitalize on keywords and tags as a means of achieving rank on Google searches.
Also remember to link the website to your social media platforms such as Twitter, Instagram, Facebook, and LinkedIn, so as to reach more people. Last but not least, license the idea. You’ll then move super helpful since you can revoke the script’s usage at any given time with the law on your side.
How to Get Paid for My Ideas
Often during dinners, we hear people say that it’s just a matter of time until they complete a concept for an app. And we know what happens right? They keep repeating the same statement every dinner time but never get to launch it.
Well, developing an app requires capital and ingenuity. At the same time, some will say that the current tech is too far behind to make their idea happen.
On the other hand, they are those few who actually execute their ideas successfully.
If you think you have what of what it takes, here is how to get paid for app and tech ideas.
Get Paid for App Ideas
Funded Apps is a service that lets you submit your ideas for an app, without really having to develop the app yourself, and you get paid.
You first submit the title and description for each idea. Submissions are later reviewed then presented to an investment board. If the idea is accepted, you immediately get paid $250. Later you’ll receive a 25% cut of net revenue once the app is sold.
This UK-based investment funding company charges a fee of $1.19 each time one submits his or her idea. This is largely meant to avoid ridiculous app suggestions made just for the sake of it.
Targeting such investors is one of the best ways to get paid for ideas for apps. It also avoids risking your own capital.
Sell Web and App Ideas ArtJoker
ArtJoker is a full-cycle web development company, specializing in web and mobile application development, as well as marketing services around the world. This makes them open to new app ideas that they can buy, develop and resell.
Other companies that buy app ideas include:
Sell High Tech Gadget Ideas on Sharper Image
Sharper Image An American company founded in 1977 in San Francisco with its headquarters now in Farmington Hills, Michigan, US. It offers the latest home electronics, toys, and gadgets, just to name a few.
In order to keep up with the changing world, they regularly need new ideas. That’s why they have a team to look at suggestions submitted by the public and potential investors.
Be sure to provide the following details while submitting
- A description of your product
- Clear photos
- Mockup drawings- if the product is yet to be developed.
Pitch your creative idea to [email protected]
Get Paid for Invention Ideas
Some people come up with very good inventions too easily. And with a nudge in the right direction, there is no reason to not get paid for ideas for inventions.
Companies will buy your complete invention, while others just pay for your idea. When you hit inventions bigtime, you can earn royalties for as long as the product exists.
So what’s next? Let’s find companies that will buy various invention ideas!
Henkel is a chemical and consumer company in Germany with its headquarters based in Dusseldorf.
The company produces many products, primarily, in the areas of beauty care, adhesive technology, and laundry. Henkel Innovation Partnership Program is searching for new ideas in solution to issues with existing product formulation, process and packaging, and brand new products.
In particular, they like inventions that are eco-friendly.
According to the company, they will, “reward you with a fair share of what the innovation is worth”. So, if you want to get paid for creative ideas by Henkel, have a rough idea of how much your idea is worth. Students of all fields are encouraged to submit ideas here.
3M is a US-based multinational conglomerate founded in June 1902. Its headquarters are located in Saint Paul, Minnesota. Mainly, they offer products in the automotive, healthcare, and electronics industries.
And if you’re familiar with 3M, you won’t be surprised to know that they come up with new products every now and then. This kind of commitment to creativity speaks to the fact that they are always open to new ideas from inventors like you.
However, for unsolicited ideas, the company clearly states that “your submission and its contents automatically become the product of 3M, without any compensation owed to you”. That’s a bit restrictive to budding investors, but there are valid reasons behind such strict rules of engagement. So, read their terms carefully before submitting your new-fashioned idea.
So, how to get paid for invention ideas on 3M? Click Here to Get Started.
Get Paid for Business Ideas
No matter the idea that keeps you awake, be it get paid for book ideas, gaming ideas, name them, there is surely a market for it. All the same, most, if not all companies, need great ideas.
First and foremost, these are establishments that face stiff competition that necessitates the need to continually improve their products/services. It is only through this that they can stay relevant in business. Failure to move with the current can make them redundant.
Case and point, Blockbuster, a top rental video business during the ’80s and ’90s fell after failing to realize the dispensability of its products. If only someone read the market shift and appraised them earlier.
And it’s here where you come in… you have only one thing to do, convince companies that your idea will help them achieve their monetary goals in a sustainable way. What I like about getting paid for ideas is that sometimes the hustle can take the form of the most mundane suggestion.
For example, a simple name change was enough to revitalize Denmark’s number one energy company.
With this in mind, it makes sense that the very “unusual” idea that has been nagging you could be the lifeline of a billion-dollar establishment. One thing for sure is that your idea may be worth millions if only you can let it be known.
Back to get money for business ideas. Some of the companies that will pay you for business ideas include:
Win cash awards of up to $1,000, 000, for your creative solutions to challenges in business and entrepreneurship, life sciences, Mathematics, Computer Science, and engineering and Design. InnoCentive provides challenges posted by government agencies, corporations, and nonprofits that are in the search of help in research and development.
Every challenge comes with a significant award for the winning idea.
Founded in 1999, ThinkGeek is an American retailer that serves computer aficionados. They welcome trailblazing concepts for which they pay $250 in cash.
Additionally, they throw in another $250 for complete artwork if they decide to use it.
Get Paid for Advertising Ideas
Globe advertising surpassed the $500 billion dollar mark in 2017. The figure is now estimated to be around $578 billion, with prediction models seeing it hit $726 billion by 2024. In the US alone, CNBC reported that digital ads reached $138 billion by the close of 2020.
With hundreds of companies pay for great promotional ideas, it’s time to get on the gravy train. And getting to the right people is exactly what you need. You can earn from starting a PR and marketing agency or work as a copywriter. These are jobs that you can do from home and earn.
Your original advertising idea could be worth millions. Sell ad ideas to different companies ranging from toys to book ideas. While at it, you should position yourself to even get paid for fashion ideas such as clothing ad design. And guess what, companies from all over the globe are actively on the lookout for you! Here are some of my top candidates:
5. Wilson Company
Founded 108 years ago, Wilson Sporting Goods Company is a Chicago-based business and one of the biggest sports-related companies that pay for ideas. It has a popular logo, ‘W’, found on sporting goods such as tennis balls. If you’re passionate about sports, you might have one or two ideas on something the ‘W’ could be put on for advertisement purposes
How do you submit ideas? Pretty simple, online and from anywhere. You then just wait for the company to get in touch with you after reviewing your pioneering idea. Another sports company that buys ad ideas is Escalade Sports.
Tips For Selling Your Ideas
- Define your market and reach
The more you know about a certain topic, the easier you will come up with advertising ideas. Get inspiration from your hobbies and skills to curate killer advertisement ideas.
You should also interact with your intended audience. So, if you for example looking to get paid for game ideas, hang out with gamers. As such, you will be aware of what the public wants, what types of commercials work best, and what advertisers are looking for.
A good place to get paid for giving ideas tailored to your locality or region are brands such as Pepsi and Coca-Cola. These are also companies with worldwide reach, meaning that your ad can end becoming a global phenomenon in a day!
- Be Bold
When it comes to fresh ideas for money, ads are some of the easiest streams to earn from. Unfortunately, this means that the competition is brutal. So, you need to be bold; if you have a wholesome advertising idea for a specific brand, reach out to the organization directly or the agency dealing with its ad campaigns.
If they like your idea, you might be paid or given a job offer by the agency’s management team. Be aware, most popular companies work through agencies.
Also, remember to meet all legal requirements and ensure that you pay taxes whether as a freelancer or an agency owner for good rapport across the board.
- Run Sponsored Posts on Your Social Media Accounts
Another great way to get paid for ideas is through social media platforms. All you need is to create an account, get a good number of followers, and you’re ready to go. Most companies look for social media influencers to endorse their products. Be one of them and start running ads on a schedule.
Social platforms that you can post ads include Facebook, Instagram, Pinterest, YouTube, and Twitter. For example on Instagram, you only need to be engaging and up to date on current trends to maintain and grow followership.
To reach your followers have companies pay you per post and subsequent promotions. As a beginner, you can look forward to making around $10 for every sponsored post.
1. Can I get paid for an idea?
Many companies will pay for your idea. As long as they are convinced that your idea will be of help to them. Actually, it all depends on whether you’ll hand in your idea to the correct hands.
The world is changing and people need new ideas to remain relevant in their fields. Most importantly, not all businesses solicit ideas, but if presented with a groundbreaking idea, you can bet they won’t ignore it
2. Do you get paid for Lego ideas?
You can get paid for design ideas for logos. Typically, you receive around 1% of the royalties when your legos are rolled out. These earnings are in addition to an upfront payment of between $20 to $50 for the winning design. The company also intends to soon widen the range to $60 while increasing the average pay to $40 per idea.
The Takeaway: How To Get Paid For Your Ideas
Companies, institutions, and even governments already keep research and development departments for the sole purpose of churning out new ideas. And the fact that lightbulb moments never end dictates that everyone has the potential to make money from new ideas.
The key to making this happen is having a place, such as a blog or a website, to promptly offload your ideas as they present. You can also write and market ebooks containing everyday hacks of making life easier; think of how to save and start a side hustle.
Lastly, be vigilant in reaching out to companies in your neighborhood and elsewhere and marketing your one-of-a-kind ideas.
Have ever sold an idea? I look forward to hearing all about below.