So, a little light bulb within you head has lit up and you are struck with the concept 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 seeking. 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 assure you that in the end you will be happy that you took my advice.
Before we proceed with the discussion, I would personally like to provide a few words of wisdom. While working on your idea you will encounter individuals who will criticize your work and attempt to discourage you from forging ahead. A few of the Inventhelp Licensing Expo is going to be deserved and must be taken into consideration. When you see that the valid point is raised which you never thought of before – the greater off you might be. 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 according to any facts.
Whenever you discover ways to separate both of these, you may be better of. My advice to you –
– Don’t be scared to question professionals, since most experts are certainly one-track minded and oblivious to other things
– Don’t be scared to challenge other people’s ideas, stand by your principles and become firm
– Don’t be afraid to learn that your particular own idea is faulty. Pause, make corrections, re-analyze and move ahead
If you are prepared to promote your idea, you will have to deal with large corporations. Keep in mind that the larger the company is, the greater bureaucratic it really is. Many big companies lose focus and frequently hire employees who are either not qualified for the job, or just not thinking about whatever they are doing. If you come across these folks who want to cause you to feel insignificant (as well as your idea unimportant and impractical) don’t get discouraged by this – chances are you will likely be happier working with smaller company that is certainly more focused and ready to take risks!
Step One – Stay Focused and Clearly Document Your Idea
This method has huge benefits, because –
1. You may clearly define your idea/invention
2. While documenting your idea, you may find ways regarding how to expand your invention
Always try to put on paper what it is which you invented – precisely define your idea, its purpose, limitations and target audience. If you fail to precisely define your idea, then which means that you ought to have a step back, re-analyze your thinking and simplify things. The most frequent error that people make at this time is over-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 along with a screw driver. However, incorporating these things helps make the Inventhelp Inventions larger and heavier. In order to 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 to do with his unique design. If you take 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. must have stopped right before making any changes to his original Automatic Knife Mechanism and asked himself the subsequent – am I more satisfied with all the original mechanism or with pedestrian mechanism which has additional features? Are the extra features even necessary?
The above example clearly illustrates the subsequent – focus on your original idea and ignore additional, superfluous features that might muddle your vision. Additional features will come into play later, once you clearly described and shaped your invention.
Step 2 Exploratory Stages – Determine whether your idea is different
Once you’ve documented your idea, you can start thinking about the following – how unique is my idea? In order to answer these questions, you will need to do some legwork and hit your neighborhood library and internet. Until you allocated a lot of your budget to Patent Lawyers, who can do the research to suit your needs, you will be happier doing initial research alone. Why? Because you may discover during your exploratory searches that your particular design is not unique and stay away from from paying Big Lawyer fees. A note of caution – don’t get discouraged should you determine the idea comparable to yours already exists and already patented. The truth that someone arrived at the similar conclusions while you, just a bit bit earlier is nice – you do have a competition! Level of competition is good, levels of competition are healthy! Carefully examine competing product, even bring it apart, if necessary. Figure out what differentiates your idea from competitor’s, its limitations and exactly how successful was another person (or perhaps a company) with marketing it. While you can see, you can actually study from mistakes of others, avoid their mistakes and forge ahead fully mindful of competition along with their limitations.
Step 3 – Product Safety Considerations
Whether you opted to produce a baby product or some kind of household appliance, an exclusive care should be consumed describing potential hazards associated by using your product or service. As an example, if you invented a whole new toy intended for young children, try to create the list of parts that can potentially harm your little customers. Keep in mind that lots of people, unfortunately, disregard exploitation manuals. Determine what can or may go wrong with all the operation of your own product and determine ways regarding how to improve product safety. The questions that you simply may ask yourself are definitely the following –
1. Am I using proper materials?
2. Maybe the part that contains the most hazards needs to be redesigned?
Try to come up with a thorough listing of parts that can be potentially hazardous and fix your design before you start out marketing your product or service. 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 own idea, and you also might stay away from a bit of time by doing preparations ahead of time.
Step 4 – Demographics and Determining who can Use Your Product
Ones there is a clear picture of your own product and you also figured out all nuances of product design, make an effort to determine who can use your product, when and where. Make an effort to consider these questions –
1. What exactly is the age bracket of target audience?
2. Is my product created for Men, Women, or Both?
3. Where and once can it be used?
Correctly answering these questions can help you properly market your product and stay abreast of competition. Furthermore, knowing techniques to the aforementioned questions can help you in putting finishing touches on your own product. How? In case your product is designed for children, then it ought to be bright and colorful. In addition, in case your product is ideal for cold climate, you ought to avoid marketing it in areas where it’s hot all year long.
It is extremely likely that your particular product is tailored for certain industry (as an example, agricultural); then think of people who will benefit the best from your invention! In case your product is designed 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 advantages, on the other hand, will be payoff rewarding!
Step 5 – Produce Full or Small Scale Type of Your Products Or Services
It is rather important to create a working model away from your idea. Why? Having a real-life type 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 aspects of your initial design to make necessary corrections
2. Boost your final design
In addition to the above mentioned items, the ultimate 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 personal mind! The fact that you are touching the actual-life model of your final design provides you with positive psychological boost comparable to hardly any other you’ve experienced during design process, motivating you even more to be successful!
The easiest method to approach this task is to attempt to draw on some paper the last version of your product, how you view it around this point in time. Your drawings should show one last idea/product under different angles, in a 2-D and three-D. The picture might not pretty because not a lot of us have the necessary drawing skills. However, this drawing task can help you immensely solidify your design and pin-point items which you continue to have to work on. In addition, I strongly suggest that you simply generate your initial product prototype from clay or some other material which is readily available. Why? Since this prototype along with initial drawing can help you explain your idea to technical person who, 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 be build of plaster or metal? If metal, then what kind of metal – is it aluminum, copper or some form of alloy? When you determined the essential materials, estimate production cost as 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 time along with your material selections, but it’s excellent to know what materials will go into creation of your products or services so that you have a ball-park figure on the final cost of your products or services.
Step 6 – Estimate Cost and Gross Profit
As soon as you determined who can make use of product and where (or perhaps your product’s market), it is actually time for you to think “big” – attempt to work out cost/benefit analysis of your own product. Below is really 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 made in a way it would hold the bottles, spoons and bottle caps. Mary A. created numerous drawings of her product and with the help of her husband managed to generate a full-scale version of How To Get A Prototype Made With Inventhelp made from clay. Before involving an engineer, Mary A. estimated that her product is going to be made entirely away from plastic. The estimated production price of 1 bottle holder is $3.00 (we presume that the manufacturing plant is found in China and shipping pricing is already factored in to the estimated production cost). Mary A. did comparative shopping and determined that other types of Baby Holders are selling around $15 dollars. Additionally, Mary found out that three local baby stores each serve 1000 shoppers per day (including online purchases); in addition, each stores needs a 40% commissions per each purchase – which means that $6 pays being a commission to the store for 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 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 volume of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct marketing plan is totally important to the success of your idea. Partnering with marketing company that you can trust and rely upon will pay big dividends within the long run and really should not be overlooked. What in case you know about marketing companies? Many of these companies are divided into two groups (I am going to call them groups A and B) –
1. Group A: These companies claim they have specific knowledge and inside connections in a broad range of industries. Along with been expensive, many companies that fit in with this group are accused of fraud and inventor should carefully consider who they really are working with. In the best case scenario, you could potentially lose all of your money and time; in worst-case scenario, in addition to losing money somebody else may reap the benefits of your invention (unless, obviously, you were lucky enough to patent it!!)
2. Group B: These companies give inventor complete freedom in marketing their idea. Inventors choose what you should say and concentrate on emphasize areas they think are most pertinent with their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is actually a marketplace where people who have ideas and companies who search for sharp minds meet. Along with helping you find a right partner who can assist you to realize your ideas and dreams, IdeaJets also brings inventors in touch with other ambitious individuals 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 improve their chances to achieve success. At the time of right now, IdeaJets is entirely free!
Conclusion and a few Final Thoughts:
As one can see, it will take a lot of patience, preparation and perseverance for inventor to achieve success. The most important thing is to not get discouraged by the existence of competition and potential rejections. As I mentioned inside my article, level of competition is good and healthy. In case your competitor is going for a amazing success using the product comparable to what you’ve developed, then because of this the item that you are working on has great potential. Carefully examine competitor’s product and determine its weaknesses or vulnerabilities. This, of course, presumes that you simply finalized your initial design, resolved all the kinks and produced an entire-scale (or scaled-down) version of your product. When you know enough about competitor’s product, carefully study your market and demographics – this should help you in designing online marketing strategy specifically tailored towards your product or service. Wear paper and document all of your findings simply because you may forget some details afterwards and recognize that the data you painfully should get is gone. In general, attempt to incorporate all of your findings xqvfcq to cost, market and demographic analysis into Business Strategy and store it in a safe place! A lot of companies you may attempt to work or partner with will require you to produce Business Plan documentation. Not having one will force one to produce Strategic Business Plan documentation almost overnight and this is not always easy. My suggestion to you personally – start working on the Strategic Business Plan from the very beginning and stay away from from having sleepless nights! As well as a final word of wisdom – don’t hesitate to become over-confident, because confidence and belief in one’s own powers are a great recipe to success!