“Every few days, we bring one product from sketch to store”

That’s the promise of a pretty cool crowd sourcing site, called Quirky.

What is it and how does it work?
Quirky is a site that lets people submit ideas for new products to be developed. Presenting an idea costs about $100, so make sure you really think it’s a good idea and take some time to think out the details before submitting. This is essentially your business proposal for venture capital. Of the ideas submitted, the rest of us get to vote for our favorites and contribute to the product idea. Days later, a product is selected and the process begins to develop the product idea into a product.

Product development consists of a few more steps and like the product selection process, site members get to influence the process by suggesting a product name, designing a logo, etc. It all happens pretty quickly, but email reminders help you keep on top of new product stages. Once a product has completed all of its development stages, Quirky begins taking pre-orders. Depending on the product, they’ll accept pre-orders for, on average, from 300-500 units. Once they fill the pre-order, the product goes into full production.

How to make money
The best part about this site is the ability to earn some extra money. The idea originator gets a decent perentage of the sales, of course, but then many of the contributors do, too. It may be a good amount or just pennies per sale, but it’s on every sale. I like to think of it in terms of something like the Slinky or the Rubik’s Cube. Had one of those products started on Quirky, several contributors would be laughing all the way to the bank. The example on the right shows actual earnings for some people on a $15 product. Helping out with a product’s development might not make you filthy rich, but it could bring in some nice Christmas money.

A good example
A pretty good example of this was the first product I helped with, Scratch-n-Scroll, which is currently selling nicely.

Scratch-n-Scroll is a standard mousepad with an added writing surface. This mousepad is for all those times you are working at your desk and cant find a pen to jot down that phone number or list item you know you will forget later on.

Simply, write notes to yourself on your mouse pad using just the pressure from your finger or the built in plastic stylus as a “pen.” Cool thing is, just like your childhood toy the magic slate, you can erase the notes at any time simply by flipping up the semi-transparent top sheet.

When I got to it, it was a really good idea among a list of ideas we had to vote on. It was my first pick of those offered, so I was glad to see it chosen for development. Through all the stages, I think the only thing I did was offer some comments about the design and function. My help was noted and I now get a very small amount of money (I think it’s like 1.5 cents) from every sale. If they sell 10,000 of these things, I’ll make about $150, which is pretty good for having just commented on how to improve the design.

Make the most of it
As someone without a ton of free time, I always look at how to get the most benefit from the time I spend on anything new like this. With Quriky, there’s three ways to earn money. The first two we’ve already gone over: submit your idea or help with someone’s idea. The third is to help sell the finished product. When I linked to the above Scratch-n-Scroll, I did so with a unique affiliate link. On this product, I get a 10% commission on any referred sale, and sold one already by just dropping a link on Twitter. If you choose to help with product development, don’t just help with one product. Help with any product that you like enough. If you help with 10 products that are all in production and selling, you can build up a nice residual income. Finally, when I signed up (and I think they’re still doing it), I got $20 in my account just for signing up to help contribute, so at the very least, go sign up.

If you do sign up, leave a comment here and let me know what you think of the site and what products you assisted in.

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