Part of Magnamole's strength lies in the time and cost-savings for engineers and electricians fitting cables through cavity walls
How To Start Making A Living From Your Invention Straight Away
Sharon Wright interviewed by Cally Robson
It's rare to get a new product prototyped, patented and selling into the market within a couple of years. But as saleswoman-turned-inventor Sharon Wright proves, with the right help and attitude a simple invention that solves a widespread problem can cut through the product development process and have orders lined up as it rolls off the production line.
When Sharon Wright first came up with her idea for a simple device to pull a cable through the space in cavity walls, she sat around for 2 weeks wondering what to do with it.
As soon as she tapped into help from her local university, things began to roll along.
In this 2-part interview at the British Invention Show 2008 at London's Alexandra Palace, Sharon reveals how Magnamole got to the market so quickly, and how she started to make a living from it as soon as production started.
Video interview 1 5:58 mins (click on arrow in video below to play)
Cheat sheet: In this video Sharon talks about...
The problem Magnamole solves and how she came up with the solution.
How taking a step at a time has helped her, along with seeing stumbling blocks just as obstacles to be worked around.
The most difficult stage was knowing where to go with her idea in the first step. She went to the University of Hull for help, who applied for funding on her behalf and connected her with a patent attorney. She's retained ownership of the Intellectual Property.
It's patented worldwide and there are applications beyond its current form. It could be adapted into other industries and other market sectors. She followed the advice of the patent attorney, Murgitroyd (& Co) . She saw them early on and got them to really understand what she was trying to achieve.
She's got the trademark for Magnamole granted.
How she came up with the brand design herself.
She got her packaging done by a friend in America.
Video interview 2 4:26 mins (click on arrow in video below to play)
Cheat sheet: In this video Sharon talks about...
It helps to have a her background in sales, but selling Magnamole comes down to the belief in her product and that people can see the problem the product solves.
She's done a big deal with a well-known telecomms operator that will result in major distribution and credibility.
Working out the deal took 16 to 17 months to go through all the processes - six-sigma, health and safety, procurement, tender. She was the first single-source company they'd used.
She's been making a living from Magnamole since her first order for thousands was delivered.
No matter what you achieve, you're always looking for the next goal. The process is like being on a roller coaster.
She couldn't have learned what she's learned at university. Go with your gut feeling.
She's split the UK into sectors or 6 industries or markets of which she's dabbled in 5 so far.
For worldwide expansion, having used the UK as her model to prove the markets, she plans to sell to the biggest distributors in each country and take royalties from licensing her product.
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