So, a little light bulb within 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 looking for. What you do next and how you approach your next steps is very 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 the discussion, I might like to offer a few words of wisdom. While caring for your idea you will come across those who will criticize your work and then try to discourage from forging ahead. A number of the Inventhelp Company is going to be deserved and really should be taken into consideration. If you notice which a valid point is raised that you simply never imagined of before – the greater off you happen to be. It offers you possibility to pause and view your idea from another perspective (or angle). However, you may also encounter a so-called destructive criticism that is certainly not based upon any facts.
Whenever you discover ways to separate these two, you will end up better of. My advice to you personally –
– Don’t hesitate to question professionals, because most experts is one-track minded and oblivious with other things
– Don’t be scared to challenge other people’s ideas, uphold your principles and become firm
– Don’t hesitate to learn that your own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you are prepared to promote your idea, you should handle large corporations. Keep in mind that the larger the company is, the better bureaucratic it is. Many big companies lose focus and often hire employees who definitely are either not qualified for the task, or just not interested in what they are going to do. If you locate these people that are trying to make you feel insignificant (and your idea unimportant and impractical) don’t get discouraged from this – then chances are you will be happier dealing with smaller company that is certainly more focused and willing to take risks!
Step 1 – Stay Focused and Clearly Document Your Idea
This step has huge benefits, because –
1. You are going to clearly define your idea/invention
2. While documenting your idea, you may find ways concerning how to expand your invention
Always try to use paper what it is which you invented – precisely define your idea, its purpose, limitations and target audience. If you cannot precisely define your idea, then this means that you ought to have a step back, re-analyze your thinking and simplify things. The most typical error that folks make at this stage has ended-complicating their idea. A simple example will clarify this point:
Case Study 1
John K. posseses 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 as well as a screw driver. However, adding these products definitely makes the Invention Help larger and heavier. In order to help make knife lighter, John K. goes back towards the drawing board – he compromises his original, Automatic Push/Pull mechanism design in attempt to accommodate unnecessary additional features which have nothing related to his unique design. By taking away features from his original design, John K. makes his final design very pedestrian and it also lacks in originality.
Within 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 better off with the original mechanism or with pedestrian mechanism that has extra features? Would be the extra features even necessary?
The aforementioned example clearly illustrates the subsequent – focus on your original idea and ignore additional, superfluous features that might muddle your vision. Additional features should come into play later, as soon as you clearly described and shaped your invention.
Step Two Exploratory Stages – See whether your idea is unique
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 will have to do some legwork and hit the local library and internet. Until you allocated a lot of your finances to Patent Lawyers, who will do the research to suit your needs, you will end up better off doing initial research on your own. Why? Simply because you may discover during your exploratory searches that the design is not unique and save from paying Big Lawyer fees. A note of caution – don’t get discouraged if you determine the idea similar to yours already exists and already patented. The fact that someone arrived at the similar conclusions as you, just just a little bit earlier is good – you do have a competition! Levels of competition are good, levels of competition are healthy! Carefully examine competing product, even take it apart, if required. Determine what differentiates your idea from competitor’s, its limitations and just how successful was another individual (or even a company) with marketing it. When you can see, you can actually gain knowledge from mistakes of others, avoid their mistakes and forge ahead fully conscious of competition and their limitations.
Step Three – Product Safety Considerations
Whether you decided to generate a baby product or some form of household appliance, a unique care ought to be consumed describing potential hazards associated with the use of your product or service. For example, in the event you invented a whole new toy created for young children, try to come up with 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 awry with all the operation of your own product and figure out ways on how to improve product safety. The questions that you may ask yourself are definitely the following –
1. Am I using proper materials?
2. Maybe the part that contains probably the most hazards ought to be redesigned?
Try to come up with a comprehensive set of parts that can be potentially hazardous and correct your design before you start marketing your product. You may think of 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 stay away from a while by doing preparations beforehand.
Step 4 – Demographics and Determining who can Make Use Of Your Product
Ones there is a clear picture of your own product and also you resolved all nuances of product design, attempt to determine that will make use of your product, when and where. Try to consider the following questions –
1. What is the age bracket of target audience?
2. Is my product designed for Men, Women, or Both?
3. Where so when can it be utilized?
Correctly answering these questions can help you properly market your product and stay up to date with your competition. Furthermore, knowing techniques to all these questions can help you in putting finishing touches on your product. How? Should your product is ideal for children, then it needs to be bright and colorful. In addition, in case your product is designed for cold climate, you should avoid marketing it in areas where it’s hot all year long.
It is very likely that your particular product is tailored for certain industry (as an example, agricultural); then think of people who may benefit the best from your invention! If your product is made to work with specific soil or crops, then you certainly should target geographical region rich with desired characteristics. As one can see, this step requires a thorough research, planning and leg work; the advantages, on the other hand, will be payoff rewarding!
Step 5 – Produce Full or Small Scale Style of Your Product
It is rather important to produce a working model off of your idea. Why? With a real-life style of your idea (or a scaled-down version from it), will assist you to –
1. Identify its limitations and offers you the opportunity to re-think some aspects of your initial design and make necessary corrections
2. Boost your final design
As well as the previously listed items, the last model can help you psychologically. There is no better feeling then in order to physically see and touch the roll-out of your very own mind! Because you are touching the true-life type of one last design will provide you with positive psychological boost similar to hardly any other you’ve experienced during design process, motivating you even more to be successful!
The easiest method to approach this method is to try to draw on a piece of paper the ultimate version of your product, the way you view it at this particular point soon enough. Your drawings should show one last idea/product under different angles, in a 2-D and 3-D. The photo might not really pretty because not many of us possess the necessary drawing skills. However, this drawing task will help you immensely solidify your design and pin-point things that you continue to have to work on. Additionally, I strongly suggest that you generate your initial product prototype from clay or any other material which is readily accessible. Why? As this prototype in addition to initial drawing will allow you to explain your idea to technical person who, consequently, will transform your design into highly technical engineering drawing.
As soon as you prepared your model, try to determine what materials goes in into construction of real-life product. Will your products or services be build of plaster or metal? If metal, then what kind of metal – will it be aluminum, copper or some type of alloy? Once you determined the essential materials, estimate production cost as the price that you’ll charge for your product will be based on the production cost of each individual unit. You don’t need to be 100% correct at this time together with your material selections, but it’s great to know what materials should go into creation of your product allowing you to have a ball-park figure on the final price of your product or service.
Step 6 – Estimate Cost and Gross Profit
As soon as you determined that will make use of your product and where (or maybe your product’s market), it really is time for you to think “big” – try to work out cost/benefit analysis of your product. Below is 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 designed in such a way that 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 make a full-scale version of How To Get An Idea Made Into A Prototype With Inventhelp manufactured from clay. Before involving an engineer, Mary A. estimated that her product will be made entirely out of plastic. The estimated production cost of 1 bottle holder is $3.00 (we presume the manufacturing plant is found in China and shipping expenses are already factored in to the estimated production cost). Mary A. did comparative shopping and determined that other kinds of Baby Holders are selling around $15 dollars. In addition, Mary found out that three local baby stores each serve 1000 shoppers per day (including online purchases); furthermore, each stores demands a 40% commissions per each purchase – which means that $6 is paid as being a commission towards the store for each and every $15 purchase. Mary A. immediately worked out that her total profit will likely be $6 per each bottle holder ($15 – $6 – $3). Presume that one third of all the 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 plan is absolutely essential to the prosperity of your idea. Partnering with marketing company that you can trust and rely upon pays big dividends in the long run and should not be overlooked. What in case you know about marketing companies? Most of these companies are divided into two groups (I will call them groups A and B) –
1. Group A: These firms claim that they have specific knowledge and inside connections in a broad range of industries. As well as been expensive, many companies that are part of this group are charged with fraud and inventor should carefully consider who they really are dealing 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 someone else may benefit from your invention (unless, obviously, you were fortunate enough to patent it!!)
2. Group B: These businesses give inventor complete freedom in marketing their idea. Inventors choose what to say and focus on emphasize areas which they think are most pertinent for their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is really a marketplace where individuals with ideas and companies who hunt for sharp minds meet. As well as helping you find a right partner who can enable you to realize your thoughts and dreams, IdeaJets also brings inventors in contact 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 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 enhance their chances to succeed. Since right now, IdeaJets is totally free!
Conclusion plus some Final Thoughts:
As you can see, it takes plenty of patience, preparation and perseverance on behalf of inventor to achieve success. The main thing is always to not get discouraged by the presence of competition and potential rejections. When I mentioned inside my article, competition is good and healthy. Should your competitor is having a great success using the product comparable to what you’ve developed, then this means that the item that you will be focusing on has great potential. Carefully examine competitor’s product and determine its weaknesses or vulnerabilities. This, obviously, presumes which you finalized your initial design, worked out all of the kinks and produced a complete-scale (or scaled-down) version of your own product. When you know enough about competitor’s product, carefully study your market and demographics – this will help you in designing marketing plan specifically tailored towards your product. Put on paper and document your findings simply because you may forget some details later on and understand that the info you painfully should get is gone. In general, make an effort to incorporate all your findings xqvfcq to cost, market and demographic analysis into Business Strategy and store it in a safe place! Many businesses you will try to work or partner with will require that you produce Strategic Business Plan documentation. Not having one will force you to produce Business Strategy documentation almost overnight and this may not be a simple task. My suggestion to you – start working on the Strategic Business Plan from your start and save from having sleepless nights! And a final word of wisdom – don’t be scared to be over-confident, because confidence and belief in one’s own powers are a great recipe to success!