# 116: How to Turn an Invention into a Product Business

- Show: [Product Startup](https://hardwarepodcasts.com/podcast/product-startup)
- Published: 2022-03-02
- Length: 37m
- Page: https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business
- Listen: https://productstartup.com/

## Summary

Tom Gray, founder of Make48 and former Handy Camel executive, explains how inventors can transition from hobbyist to business owner by choosing between licensing or building a startup. He outlines four critical assets for success: a refined prototype, a concise sales video, a one-page sales sheet, and proper IP protection. Gray advocates for a 'stepping stone' manufacturing strategy, using short runs and aluminum tooling to validate the product with real users before committing to expensive steel tooling. He emphasizes that this iterative approach reduces risk and increases the likelihood of securing licensing deals or investment.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business#t=0) Introduction: Tom Gray and Make48
- [1:34](https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business#t=94) Tom Gray's Background: Handy Camel and Licensing
- [5:10](https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business#t=310) Licensing vs. Startup: The Two Paths
- [6:55](https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business#t=415) The Four Pillars of a Successful Pitch
- [10:29](https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business#t=629) The Stepping Stone Model: Short Runs and Feedback
- [15:52](https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business#t=952) The Power of Professional Video and Sales Sheets
- [23:02](https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business#t=1382) Manufacturability and IP Strategy
- [33:56](https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business#t=2036) Conclusion: When to Quit Your Day Job

## Topics

- [Validation & product-market fit](https://hardwarepodcasts.com/topic/validation-and-product-market-fit)
- [Crowdfunding & preorders](https://hardwarepodcasts.com/topic/crowdfunding)
- [Intellectual property](https://hardwarepodcasts.com/topic/intellectual-property)
- [Prototyping & iteration](https://hardwarepodcasts.com/topic/prototyping)
- [Direct-to-consumer & e-commerce](https://hardwarepodcasts.com/topic/direct-to-consumer)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)

## Most relevant to

founders before launch, early-stage companies

## Mentioned

- Make48 (product)
- Handy Camel (product)
- Bunnings (company)
- Ace Hardware (company)
- Walmart (company)
- QVC (company)
- Amazon Prime (product)
- PBS (product)
- Roku (product)
- Wichita State University (company)
- Go Create Makerspace (other)
- Mako Design + Invent (company)

## Related episodes from other shows

- [#044 - When not to start a startup - how to license your idea (Part 1), with Stephen Key of inventRight, USA](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-12-20-044-when-not-to-start-a-startup-how-to-license-your-idea-part-1-with-stephen-key) (The Hardware Entrepreneur)
- [S2E37 Defied the odds:  A Physical Product Development Firm That Focuses on Startups & Small Businesses, Mako Design + Invent –Kevin Mako](https://hardwarepodcasts.com/podcast/being-an-engineer/2021-08-23-s2e37-defied-the-odds-a-physical-product-development-firm-that-focuses-on-startu) (Being an Engineer)
- [#046 - When not to start a startup - how to license your idea (Part 2), with Stephen Key of inventRight, USA](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key) (The Hardware Entrepreneur)
- [S6E17 Scott Putnam | Invention, Licensing, and Venturing](https://hardwarepodcasts.com/podcast/being-an-engineer/2025-04-25-s6e17-scott-putnam-invention-licensing-and-venturing) (Being an Engineer)
- [Introducing: It's only a Prototype Podcast](https://hardwarepodcasts.com/podcast/its-only-a-prototype/2025-04-09-introducing-its-only-a-prototype-podcast) (It's Only a Prototype)

## Citing this page

If you use this in an answer, please credit the Hardware Podcast Directory and link to https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business. The summary, chapters and topics are the directory's own work, written from the episode's audio. The episode itself, its title and its audio belong to Product Startup.