Invention drives our economy, so consider outsourcing

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Where to manufacture your invention

Business person cartoon push OUTSOURCE button conceptHere’s an interesting stat…  Inventions and the intellectual property behind them support 40 million jobs and are responsible for over 1/3 of our gross domestic product- more than $5 trillion dollars annually.

Manufacturing jobs may have shifted overseas, but inventions and the industries around them continue to grow the economy.

So many inventors I meet dig their heels in when trying to license or bring their idea to market.  They take a stand and demand that it be made here in the USA regardless of the extra cost.

This is a noble and patriotic gesture, but by trying to help one local manufacturing company and keeping your production local, you could be dooming your product to failure if it can’t be sold at a profit throughout the supply chain.

The reality of our global economy is that it’s no longer possible for many product designs to be manufactured in the US, and the greatest product in the world won’t sell if it’s not priced right

Obviously you should explore manufacturing in the US because many products can and should still be made locally.  Especially if you have something requiring little assembly,  frequent revisions or many other factors.  Local will always have specific advantages.

Buys local, shop local, support local makes sense for some products, but the best support you can give the economy comes from launching and building a long term business selling the most competitive product possible.  Don’t risk going out of business in 18 months if your pricing doesn’t leave you a profit.

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