So, a little light bulb inside you head has lit up and you are struck with the notion that you invented something. You are not sure yet how practical your idea is at this time, but something tells you that this might be the. Big break you were seeking. What you do next and how you approach your next steps is extremely 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 assure you that in the end you will be happy that you took my advice.
Before we proceed using the discussion, I might like to provide a few words of wisdom. While dealing with your idea you will encounter individuals who will criticize your work and then try to discourage you from forging ahead. A number of the Inventhelp Patent Invention is going to be deserved and really should be taken into consideration. If you see which a valid point is raised that you never imagined of before – the better off you are. It provides you with opportunity to stop and view your idea from another perspective (or angle). However, you may also encounter a so-called destructive criticism that is not based on any facts.
Once you figure out how to separate these two, you will end up better of. My advice to you personally –
– Don’t hesitate to question professionals, since most experts are one-track minded and oblivious to many other things
– Don’t be afraid to challenge other people’s ideas, uphold your principles and become firm
– Don’t hesitate to find out that the own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you find yourself ready to market your idea, you will need to cope with large corporations. Keep in mind that the bigger the company is, the better bureaucratic it is actually. Many big companies lose focus and quite often hire employees who are either not qualified to do the job, or just not considering whatever they are going to do. If you locate these folks who are trying to make you feel insignificant (along with your idea unimportant and impractical) don’t get discouraged by this – then chances are you is going to be better off working with smaller company that is certainly more focused and willing to take risks!
Step 1 – Remain Focused and Clearly Document Your Idea
This task has huge benefits, because –
1. You are going to clearly define your idea/invention
2. While documenting your idea, you may find ways regarding how to expand your invention
Always try to use paper what exactly it is that you simply invented – precisely define your idea, its purpose, limitations and target audience. If you cannot precisely define your idea, then this means that you should take a step back, re-analyze your thinking and simplify things. The most common error that people make at this time is over-complicating their idea. A simple example will clarify this point:
Case Study 1
John K. has an idea on how to improve Automatic Knife Mechanism. While laboring hard on his invention, John K. produces technical drawings and decides that his future product will take advantage of the addition of extra items – a scissor and a screw driver. However, the addition of these products makes the Inventhelp Prototype 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 try to accommodate unnecessary extra features who have nothing related to his unique design. By taking away features from his original design, John K. makes his final design very pedestrian plus it lacks in originality.
Inside the final analysis, John K. needs to have stopped right before creating any changes to his original Automatic Knife Mechanism and asked himself these – am I happier with all the original mechanism or with pedestrian mechanism which includes additional features? Are the extra features even necessary?
The above mentioned example clearly illustrates the following – focus on your original idea and ignore additional, superfluous features that might muddle your vision. Extra features will come into play later, once you clearly described and shaped your invention.
Step 2 Exploratory Stages – Determine if your idea is different
Once you’ve documented your idea, you should begin thinking about the following – how unique is my idea? In order to reply to these questions, you should carry out some legwork and hit your neighborhood library and internet. Unless you allocated a large amount of your finances to Patent Lawyers, that will do the research for you, you may be more satisfied doing initial research alone. Why? Since you may discover on your exploratory searches that the design will not be unique and stay away from from paying Big Lawyer fees. A note of caution – don’t get discouraged in the event you determine the idea much like yours already exists and already patented. The truth that someone arrived at the similar conclusions when you, just just a little bit earlier is nice – you have a competition! Competition is good, levels of competition are healthy! Carefully examine competing product, even bring it apart, if required. Figure out what differentiates your idea from competitor’s, its limitations and how successful was another person (or a company) with marketing it. While you can see, you can actually gain knowledge from mistakes of others, avoid their mistakes and forge ahead fully mindful of competition and their limitations.
Step Three – Product Safety Considerations
Whether you opted to produce a baby product or some kind of household appliance, an exclusive care ought to be consumed describing potential hazards associated with the use of your products or services. As an example, should you invented a new toy created for small children, try to generate this list of parts that can potentially harm your little customers. Keep in mind that lots of people, unfortunately, disregard exploitation manuals. Figure out what can or may go wrong with the operation of your own product and figure out ways regarding how to improve product safety. The questions that you may consider would be the following –
1. Am I using proper materials?
2. Maybe the part which has the most hazards ought to be redesigned?
Try to generate a complete listing of parts that can be potentially hazardous and fix your design before you start marketing your product. You may consider this step as unnecessary, but let me warn you – most marketing companies will require you to describe all Safety measures of the idea, and you might save yourself a while by doing preparations beforehand.
Step 4 – Demographics and Determining who can Make Use Of Your Product
Ones you have a clear picture of the product and you figured out all nuances of product design, make an effort to determine who will make use of your product, when and where. Attempt to consider the following questions –
1. What is the age bracket of target market?
2. Is my product designed for Men, Women, or Both?
3. Where and once can it be utilized?
Correctly answering these questions will help you properly promote your product and stay abreast of your competition. In addition, knowing solutions to the above mentioned questions can help you in putting finishing touches on the product. How? If your product is designed for children, then it ought to be bright and colorful. Furthermore, in case your product is ideal for cold climate, you need to avoid marketing it in locations where it’s hot all year long.
It is very likely that your item is tailored for certain industry (as an example, agricultural); then think of those that may benefit the most from your invention! In case your product was created to work with specific soil or crops, then you certainly should target geographical region rich with desired characteristics. As you can see, this method requires a thorough research, planning and leg work; the rewards, on the other hand, will be payoff rewarding!
Step 5 – Produce Full or Small Scale Type of Your Product
It is rather important to produce a working model away from your idea. Why? With a real-life model of your idea (or perhaps a scaled-down version of it), will help you to –
1. Identify its limitations and gives you the opportunity to re-think some facets of your initial design to make necessary corrections
2. Enhance your final design
As well as the above mentioned items, the last model can help you psychologically. There is not any better feeling then so that you can physically see and touch the roll-out of your own mind! The fact that you are touching the actual-life style of your final design will provide you with positive psychological boost equal to not one other you’ve experienced during design process, motivating you even more to be successful!
The easiest method to approach this step is to try to draw on a bit of paper the ultimate version of the product, how you look at it at this particular point over time. Your drawings should show one last idea/product under different angles, in a 2-D and 3-D. The picture might not pretty because not a lot of us hold the necessary drawing skills. However, this drawing task can help you immensely solidify your design and pin-point items that you still need to work on. In addition, I strongly recommend which you generate your initial product prototype from clay or some other material that is certainly readily available. Why? As this prototype together with initial drawing can help you explain your idea to technical individual that, in turn, will transform your design into highly technical engineering drawing.
Once you prepared your model, try to find out what materials goes in into construction of real-life product. Will your product or service be build of plaster or metal? If metal, then what kind of metal – could it be aluminum, copper or some type of alloy? As soon as you determined the essential materials, estimate production cost since the price that you’ll charge for the product will be based on the production expense of every individual unit. You don’t must be 100% correct at this point together with your material selections, but it’s very good to know what materials goes into creation of your product or service so that you have a ball-park figure on the final price of your products or services.
Step 6 – Estimate Cost and Gross Profit
As soon as you determined who can use your product and where (or perhaps your product’s market), it is time for you to think “big” – try to work out cost/benefit analysis of your product. Below is really a case study –
Mary A., a homemaker with three little children, created a plastic bottle holder for babies and small toddlers. Her bottle holder was designed in a manner that it would hold both the bottles, spoons and bottle caps. Mary A. created numerous drawings of her product and through the help of her husband managed to produce a full-scale version of Invention Advice made from clay. Before involving an engineer, Mary A. estimated that her product will be made entirely from plastic. The estimated production price of 1 bottle holder is $3.00 (we presume that this manufacturing plant is located in China and shipping costs are already factored in into the estimated production cost). Mary A. did comparative shopping and determined that other types 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); furthermore, each stores requires a 40% commissions per each purchase – meaning that $6 is paid as being a commission for the store for every $15 purchase. Mary A. immediately determined that her total profit will likely be $6 per each bottle holder ($15 – $6 – $3). Presume that certain 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 amount of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct marketing plan is absolutely essential to the prosperity of your idea. Partnering with marketing company which you can trust and rely upon will pay big dividends inside the long run and really should not be overlooked. What in the event you know about marketing companies? Most of these companies are split into two groups (I will call them groups A and B) –
1. Group A: These firms claim they have specific knowledge and inside connections in a broad range of industries. Along with been expensive, many companies that belong to this group are accused of fraud and inventor should carefully consider who they are working with. Inside the best case scenario, you could potentially lose all your money and valuable time; in worst-case scenario, along with losing money someone else may benefit from your invention (unless, of course, you were fortunate enough to patent it!!)
2. Group B: These businesses give inventor complete freedom in marketing their idea. Inventors choose things to say while focusing on emphasize areas that they believe are most pertinent to their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is really a marketplace where individuals with ideas and corporations who search for sharp minds meet. As well as helping you find a right partner who can enable you to 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 them to further increase their chances to achieve success. Since right now, IdeaJets is totally free!
Conclusion and a few Final Thoughts:
As one can see, it takes plenty of patience, preparation and perseverance on behalf of inventor to succeed. The main thing is always to not get discouraged by the existence of competition and potential rejections. When I mentioned within my article, levels of competition are good and healthy. If your competitor is going for a positive results with all the product much like what you’ve developed, then this means that the merchandise that you are working on has great potential. Carefully examine competitor’s product and find out its weaknesses or vulnerabilities. This, needless to say, presumes that you finalized your initial design, figured out each of the kinks and produced a full-scale (or scaled-down) version of your own product. Once you know enough about competitor’s product, carefully study your market and demographics – this will help in designing marketing strategy specifically tailored towards your products or services. Put on paper and document all of your findings simply because you may forget some details later on and understand that the info you painfully should get is gone. In general, try to incorporate all your findings xqvfcq to cost, market and demographic analysis into Strategic Business Plan and store it in a safe place! Many businesses you are going to try to work or partner with will require you to produce Business Plan documentation. Lacking one will force you to produce Business Strategy documentation almost overnight and this is simply not always easy. My suggestion to you personally – begin working on the Strategic Business Plan from your start and save from having sleepless nights! As well as a final word of wisdom – don’t be scared to become over-confident, because confidence and belief in one’s own powers are a good recipe to success!