So, a little light bulb within you head has lit up and you are struck with the idea that you invented something. You are uncertain yet how practical your idea is at this time, but something tells you that this might be the. Big break you were looking for. What you do next and how you approach your next steps is really important and will either lead you on to glory or will doom your undertaking. The steps that I will outline a little later might seem unnecessary; however I want to guarantee you that in the end you will be happy that you took my advice.
Before we proceed with all the discussion, I would like to offer a few words of wisdom. While working on your idea you will come across people who will criticize your work and attempt to discourage you from forging ahead. Some of the Inventhelp Patent Information will be deserved and must be taken into consideration. If you see which a valid point is raised which you never imagined of before – the better off you are. It provides you with opportunity to pause and view your idea from another perspective (or angle). However, you may also encounter a so-called destructive criticism which is not based on any facts.
Whenever you figure out how to separate those two, you will end up better of. My advice for you –
– Don’t be afraid to question professionals, since most experts are one-track minded and oblivious to other things
– Don’t hesitate to challenge other people’s ideas, stand by your principles and be firm
– Don’t hesitate to discover that the own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you find yourself prepared to advertise your idea, you will need to handle large corporations. Keep in mind that the larger the company is, the greater bureaucratic it is actually. Many big companies lose focus and quite often hire employees that are either not qualified for the job, or just not interested in whatever they are going to do. If you discover these folks who are trying to cause you to feel insignificant (along with your idea unimportant and impractical) don’t get discouraged from this – then chances are you will be more satisfied working with smaller company that is certainly more focused and willing to take risks!
Step One – Stay Focused and Clearly Document Your Idea
This step has huge benefits, because –
1. You will clearly define your idea/invention
2. While documenting your idea, you may find ways on how to expand your invention
Always try to wear paper what exactly it is that you simply invented – precisely define your idea, its purpose, limitations and target market. If you cannot precisely define your idea, then this means that you should require a step back, re-analyze your thinking and simplify things. The most common error that individuals make at this point is over-complicating their idea. A fast example will clarify this point:
Case Study 1
John K. has an idea regarding how to improve Automatic Knife Mechanism. While laboring hard on his invention, John K. produces technical drawings and decides that his future product will gain benefit from the addition of extra items – a scissor along with a screw driver. However, the addition of these things makes the Inventhelp Success larger and heavier. In order to create knife lighter, John K. goes back for the drawing board – he compromises his original, Automatic Push/Pull mechanism design in attempt to accommodate unnecessary extra features which have nothing to do with his unique design. Through taking away features from his original design, John K. makes his final design very pedestrian and it also lacks in originality.
In the final analysis, John K. needs to have stopped right before creating any changes to his original Automatic Knife Mechanism and asked himself the following – am I more satisfied using the original mechanism or with pedestrian mechanism which includes additional features? Are definitely the additional features even necessary?
The above mentioned example clearly illustrates the subsequent – focus on your original idea and ignore additional, superfluous features that might muddle your vision. Extra features will come into play later, as soon as you clearly described and shaped your invention.
Step 2 Exploratory Stages – See whether your idea is exclusive
Once you’ve documented your idea, you can start taking into consideration the following – how unique is my idea? In order to respond to these questions, you will have to perform some legwork and hit your local library and internet. Unless you allocated a lot of your finances to Patent Lawyers, who will perform the research to suit your needs, you will end up happier doing initial research on your own. Why? Since you may discover on your exploratory searches that your design is not unique and save yourself from paying Big Lawyer fees. A note of caution – don’t get discouraged if you determine that this idea comparable to yours already exists and already patented. The fact that someone came to the similar conclusions as you, just a little bit earlier is good – you do have a competition! Competition is good, level of competition is healthy! Carefully examine competing product, even bring it apart, if necessary. Determine what differentiates your idea from competitor’s, its limitations and just how successful was someone else (or perhaps a company) with marketing it. While you can see, you can actually learn from mistakes of others, avoid their mistakes and forge ahead fully aware of competition along with their limitations.
Step Three – Product Safety Considerations
Whether you opted to produce a baby product or some type of household appliance, a unique care needs to be consumed in describing potential hazards associated with the aid of your products or services. As an example, should you invented a whole new toy intended for small kids, try to come up with the list of parts that can potentially harm your little customers. Stay in mind that many people, unfortunately, disregard exploitation manuals. Know what can or may go awry with all the operation of the product and find out ways on how to improve product safety. The questions that you may think about would be the following –
1. Am I using proper materials?
2. Maybe the part which has probably the most hazards needs to be redesigned?
Try to create a comprehensive set of parts that can be potentially hazardous and repair your design before you start out marketing your product. You may think of this step as unnecessary, but let me warn you – most marketing companies will need you to describe all Security features of your idea, and you also might save some time by doing preparations in advance.
Step 4 – Demographics and Determining who will Use Your Product
Ones there is a clear picture of your product and you also figured out all nuances of product design, try to determine who can make use of product, when and where. Attempt to ask yourself the subsequent questions –
1. What is the age bracket of audience?
2. Is my product created for Men, Women, or Both?
3. Where and once can it be used?
Correctly answering these questions will help you properly promote your product and remain abreast of competition. In addition, knowing techniques to all these questions can help you in putting finishing touches on your product. How? In case your product is made for children, then it needs to be bright and colorful. Furthermore, should your product is designed for cold climate, you should avoid marketing it in areas where it’s hot all year long.
It is quite likely that your item is tailored for certain industry (as an example, agricultural); then think of those that will benefit the best from your invention! If your product is designed to work with specific soil or crops, then you definitely should target geographical region rich with desired characteristics. As you can see, this step demands a thorough research, planning and leg work; the benefits, on the other hand, will likely be payoff rewarding!
Step 5 – Produce Full or Small Scale Type of Your Product
It is rather important to make a working model off of your idea. Why? Having a real-life model of your idea (or a scaled-down version of this), will assist you to –
1. Identify its limitations and offers you the opportunity to re-think some facets of your initial design and make necessary corrections
2. Boost your final design
In addition to the above mentioned items, the ultimate model will allow you to psychologically. There is not any better feeling then in order to physically see and touch the creation of your very own mind! Because you are touching the real-life type of one last design will provide you with positive psychological boost equal to not one other you’ve experienced during design process, motivating you even more to achieve success!
The easiest method to approach this method is to try and draw on a bit of paper the ultimate version of the product, how you will see it at this particular point soon enough. Your drawings should show your final idea/product under different angles, in a 2-D and 3-D. The photo might not pretty because not many of us hold the necessary drawing skills. However, this drawing task can help you immensely solidify your design and pin-point items that you will still have to work on. Additionally, I strongly suggest that you generate your initial product prototype from clay or any other material that is certainly easily available. Why? As this prototype together with initial drawing will allow you to explain your idea to technical individual who, subsequently, will transform your design into highly technical engineering drawing.
When you prepared your model, try to determine which materials goes in into construction of real-life product. Will your product be build of plaster or metal? If metal, then what kind of metal – could it be aluminum, copper or some kind of alloy? Once you determined the required materials, estimate production cost because the price that you’ll charge for your product depends on the production price of every person unit. You don’t need to be 100% correct at this point together with your material selections, but it’s very good to know what materials goes into production of your product or service so that you have a ball-park figure on the final expense of your products or services.
Step 6 – Estimate Cost and Gross Profit
When you determined who can make use of your product and where (or perhaps your product’s market), it is actually time to think “big” – make an effort to work out cost/benefit analysis of your own product. Below is actually a case study –
Mary A., a homemaker with three little children, designed a plastic bottle holder for babies and small toddlers. Her bottle holder was created in a manner it would hold both the bottles, spoons and bottle caps. Mary A. created numerous drawings of her product and with the help of her husband managed to produce a full-scale version of Inventhelp Headquarters made from clay. Before involving an engineer, Mary A. estimated that her product will be made entirely out of plastic. The estimated production expense of 1 bottle holder is $3.00 (we presume that the manufacturing plant is situated in China and shipping expenses are already factored in in to the estimated production cost). Mary A. did comparative shopping and determined that other kinds of Baby Holders are selling around $15 dollars. Furthermore, Mary found out that three local baby stores each serve 1000 shoppers per day (including online purchases); in addition, each stores demands a 40% commissions per each purchase – which means that $6 pays as a commission for the store for each $15 purchase. Mary A. immediately determined that her total profit will likely be $6 per each bottle holder ($15 – $6 – $3). Presume that a person third of shoppers in each store have either babies or toddlers who still need bottle holders (approximately 330 consumers per store), Mary A. can generate profit in the volume of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct marketing strategy is totally essential to the success of your idea. Partnering with marketing company that you can trust and depend on pays big dividends within the long run and really should not be overlooked. What in case you know about marketing companies? The majority of these companies are separated into two groups (I am going to give them a call groups A and B) –
1. Group A: These businesses claim they have specific knowledge and inside connections in a broad range of industries. In addition to been expensive, most companies that belong to this group are accused of fraud and inventor should carefully consider who they really are working with. In the best case scenario, you might potentially lose all of your money and valuable time; in worst-case scenario, along with losing money somebody else may reap the benefits of your invention (unless, needless to say, you were lucky enough to patent it!!)
2. Group B: These businesses give inventor complete freedom in marketing their idea. Inventors choose things to say and concentrate on emphasize areas which they think are most pertinent with their invention. I would personally like to point out IdeaJets website (www.ideajets.com):
IdeaJets is actually a marketplace where individuals with ideas and firms who hunt for sharp minds meet. In addition to helping you discover a right partner who can help you realize your opinions and dreams, IdeaJets also brings inventors in touch with other ambitious men and women to cultivate and promote the culture of inventiveness and success. You can meet your fellow inventors using IdeaJets messaging system or even in Forums. Hopefully, by sharing ideas and opinions, users might view their inventions or ideas in a new light, refine and re-define those to further improve their chances to succeed. As of right now, IdeaJets is completely free!
Conclusion and a few Final Thoughts:
As one can see, it requires a lot of patience, preparation and perseverance on behalf of inventor to achieve success. The most important thing would be to not get discouraged by the presence of competition and potential rejections. As I mentioned inside my article, competition is good and healthy. If your competitor is having a positive results with all the product similar to what you’ve developed, then because of this the merchandise that you are concentrating on has great potential. Carefully examine competitor’s product and find out its weaknesses or vulnerabilities. This, needless to say, presumes which you finalized your initial design, figured out all of the kinks and produced a complete-scale (or scaled-down) version of your product. As soon as you know enough about competitor’s product, carefully study your market and demographics – this should help you in designing marketing strategy specifically tailored towards your products or services. Put on paper and document your findings because you may forget some details afterwards and understand that the information you painfully should get is gone. In general, attempt to incorporate all of your findings xqvfcq to cost, market and demographic analysis into Strategic Business Plan and store it in a safe place! Many businesses you may try to work or partner with will require you to produce Business Strategy documentation. Not having one will force you to definitely produce Strategic Business Plan documentation almost overnight and this is not an easy task. My suggestion to you – begin working on the Business Strategy through the very beginning and stay away from from having sleepless nights! As well as a final word of wisdom – don’t be scared to be over-confident, because confidence and belief in one’s own powers are a good recipe to success!