Today - Season 2014
Peter Kramer/NBC

TODAY   |  March 26, 2014

4 tips for moms with ideas for businesses

Entrepreneur Tamara Monosoff turned an idea to conserve toilet paper into a multi-million dollar business. She advises moms who want to launch their own businesses to research the market, explains why you may not need a patent, and offers ideas for funding.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> you know you're out there. you have a great idea for a product that you're sure would be a huge hit but you have no idea to see that through.

>> one mom turned her need to save toilet paper into a multimillion business. she says you can do it too.

>> she is the author "the mom inventor's hand book ." toilet paper was your issue.

>> i invented the tp saver. the thing that's incredible, i needed to use the yellow pages to find resources to bring this to market.

>> show us how it works.

>> just like that. it holds it.

>> so the kids can't pull it. it's so simple. a lot of people don't know the steps.

>> what did you do when you had the idea?

>> i used the yellow pages because google didn't exist. this book takes you from concept to selling your product and gets it on store shelves.

>> you have other ideas. what are ideas we have over here?

>> these are women featured in the book. this is the bog bag. a mom tired of getting sand in her bag at the beach. she created this. it's durable and you can wash it off, hose it off. to have a great day at the beach.

>> let's say she has this idea in her head. does she immediately get it patented so nobody can steal it? what are the headlines?

>> first step is do market research . make sure there's enough market for enough to purchase the product.

>> you'll have to spend money in this process?

>> definitely. the second thing is patenting. this is definitely not the first step. it's often a common mistake. it may not be necessary. then the third thing that you want to do is get funding. the opportunities today are incredible through crowd funding, micro lending , online loans. it's totally changed. in selling it's so much easier today through retail and selling online catalogs .

>> let's bring in cute going.

>> tell us about this.

>> quincy is wearing the duty pack. the science teacher created this. it's for when the dog does his business. the bag goes directly in there. carry your keys, purse.

>> hard to see, but the side pockets.

>> the dog does the carrying.

>> the dog is comfy wearing that in.

>> the dog is comfcomfy. it's like a saddle.

>> they like helping out.

>> what do we have here?

>> this carry her. light weight doll carrier to hold 18 inch moms. this was invented we a mom carrying her daughter's a doll. this is a way for kids to have fun, put a backpack on and carry their dolls.

>> great. so sweet.

>> so many good ideas and a how to which is important.

>> quincy was adopted here a