So, a little light bulb inside you head has lit up and you are struck with the concept 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 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 the discussion, I would personally like to provide a few words of wisdom. While working on your idea you will come across individuals who will criticize your work and then try to discourage you from forging ahead. Some of the Invention Websites is going to be deserved and should be considered. When you see that a valid point is raised that you never imagined of before – the higher off you are. 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 which is not according to any facts.
When you discover ways to separate those two, you may be better of. My advice to you personally –
– Don’t be afraid to question professionals, since most experts is one-track minded and oblivious to other things
– Don’t be scared to challenge other people’s ideas, uphold your principles and become firm
– Don’t be scared to discover that the own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you find yourself ready to market your idea, you should handle large corporations. Stay in mind that the larger the company is, the more bureaucratic it really is. Many big companies lose focus and quite often hire employees who are either not qualified to do the job, or just not thinking about what they are performing. If you come across these folks who are attempting to make you feel insignificant (and your idea unimportant and impractical) don’t get discouraged with this – chances are you is going to be happier working with smaller company which is 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 use paper what it is that you invented – precisely define your idea, its purpose, limitations and target audience. If you cannot precisely define your idea, then this means that you should have a step back, re-analyze your thinking and simplify things. The most frequent error that people make at this stage has ended-complicating their idea. A fast example will clarify this point:
Case Study 1
John K. has an idea concerning how to improve Automatic Knife Mechanism. While laboring hard on his invention, John K. produces technical drawings and decides that his future product will benefit from the addition of extra items – a scissor as well as a screw driver. However, incorporating these items makes the Find A Patent Attorney larger and heavier. In order to help make 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 that have nothing concerning 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. should have stopped right before creating any changes to his original Automatic Knife Mechanism and asked himself the following – am I happier using the original mechanism or with pedestrian mechanism that has additional features? Would be the additional features even necessary?
The above example clearly illustrates these – give attention to your original idea and ignore additional, superfluous features that might muddle your vision. Extra features can come into play later, when you clearly described and shaped your invention.
Step 2 Exploratory Stages – See whether your idea is different
Once you’ve documented your idea, you should start considering the following – how unique is my idea? In order to reply to these questions, you will need to perform some legwork and hit the local library and internet. Unless you allocated a substantial amount of your finances to Patent Lawyers, that will carry out the research for you, you will end up better off doing initial research alone. Why? Simply because 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 should you determine that this idea similar to yours already exists and already patented. The truth that someone got to the similar conclusions while you, just a bit bit earlier is good – you have a competition! Competition is good, level of competition is healthy! Carefully examine competing product, even take it apart, if required. Figure out what differentiates your idea from competitor’s, its limitations and just how successful was another person (or 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 mindful of competition as well as their limitations.
Step 3 – Product Safety Considerations
Whether you decided to make 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 brand new toy designed for young children, try to create a list of parts that can potentially harm your little customers. Stay in mind that numerous people, unfortunately, disregard exploitation manuals. Know what can or may go wrong using the operation of your product and find out ways on how to improve product safety. The questions that you simply may consider are the following –
1. Am I using proper materials?
2. Maybe the part which contains by far the most hazards should be redesigned?
Try to generate a complete list of parts that can be potentially hazardous and correct your design before you start marketing your products or services. You may think of this step as unnecessary, but let me warn you – most marketing companies will require you to describe all Security features of your idea, and you 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 you have a clear picture of your product and also you resolved all nuances of product design, attempt to determine who can use your product, when and where. Attempt to consider the subsequent questions –
1. What exactly is the age bracket of target market?
2. Is my product designed for Men, Women, or Both?
3. Where and once can it be used?
Correctly answering these questions will allow you to properly advertise your product and stay abreast of competition. Additionally, knowing answers to all these questions will allow you to in putting finishing touches on your product. How? Should your product is made for children, then it ought to be bright and colorful. In addition, should your product is made for cold climate, you need to avoid marketing it in places that it’s hot all year long.
It is extremely likely that your particular product is tailored for certain industry (for instance, agricultural); then think of those who may benefit the best from your invention! Should your product is designed to work with specific soil or crops, then you should target geographical region rich with desired characteristics. As you can see, this step needs 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 Products Or Services
It is extremely important to create a working model away from your idea. Why? With a real-life style of your idea (or a scaled-down version of this), will help you –
1. Identify its limitations and provides you the opportunity to re-think some aspects of your initial design to make necessary corrections
2. Improve your final design
Along with the above mentioned items, the last model will allow you to psychologically. There is not any better feeling then in order to physically see and touch the development of your personal mind! The fact that you are touching the actual-life type of your final design provides you with positive psychological boost similar to no other you’ve experienced during design process, motivating you even more to be successful!
The best way to approach this method is to try and draw on a piece of paper the ultimate version of your own product, the way you view it at this particular point over time. Your drawings should show your final idea/product under different angles, in a 2-D and 3-D. The image might not be pretty because not a lot of us possess the necessary drawing skills. However, this drawing task can help you immensely solidify your design and pin-point items that you still have to work on. Furthermore, I strongly suggest that you simply generate your initial product prototype from clay or other material which is easily available. Why? Because this prototype along with initial drawing will help you explain your idea to technical person who, in turn, will transform your design into highly technical engineering drawing.
When you prepared your model, try to determine what materials will go 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 – is it 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 cost of every person unit. You don’t must be 100% correct at this stage with your material selections, but it’s very good to know what materials should 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 use your product and where (or your product’s market), it is actually 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 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 Invent Help Invention Idea manufactured from clay. Before involving an engineer, Mary A. estimated that her product will be made entirely from plastic. The estimated production cost of 1 bottle holder is $3.00 (we presume that the manufacturing plant is located in China and shipping costs are already factored in in to the estimated production cost). Mary A. did comparative shopping and determined that other kinds of Baby Holders can sell 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 needs a 40% commissions per each purchase – meaning that $6 is paid being a commission for the store for each $15 purchase. Mary A. immediately determined that her total profit is going to be $6 per each bottle holder ($15 – $6 – $3). Presume that a person 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 quantity of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct online marketing strategy is totally necessary to the prosperity of your idea. Partnering with marketing company that you can trust and rely upon will pay big dividends within the long run and should not be overlooked. What in the event you know about marketing companies? Most of these companies are divided into two groups (I will give them a call groups A and B) –
1. Group A: These companies claim they may have specific knowledge and inside connections in a broad range of industries. As well as been expensive, most companies that fit in with this group are accused of fraud and inventor should carefully consider who they are coping with. In the best case scenario, you could 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, that 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 and focus on emphasize areas they believe are most pertinent for their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is actually a marketplace where people with ideas and corporations who search for sharp minds meet. Along with helping you get a right partner who can assist you to realize your ideas and dreams, IdeaJets also brings inventors in contact with other ambitious people 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 these to further enhance their chances to be successful. Since right now, IdeaJets is entirely free!
Conclusion plus some Final Thoughts:
As one can see, it requires lots of patience, preparation and perseverance on the part of inventor to be successful. The most important thing is to not get discouraged by the presence of competition and potential rejections. As I mentioned within my article, levels of competition are good and healthy. Should your competitor is enjoying a positive results with all the product similar to what you’ve developed, then which means that the merchandise that you will be concentrating on has great potential. Carefully examine competitor’s product and determine its weaknesses or vulnerabilities. This, needless to say, presumes that you finalized your initial design, figured out each of 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 marketing strategy specifically tailored towards your products or services. Placed on paper and document all of your findings since you may forget some details later on and realize that the info you painfully require is gone. In general, try to incorporate your findings xqvfcq to cost, market and demographic analysis into Business Strategy and store it in a safe place! Many businesses you may try to work or partner with will need you to produce Strategic Business Plan documentation. Not having you might force you to definitely produce Business Strategy documentation almost overnight and this may not be a simple task. My suggestion to you personally – begin working on the Business Plan from your beginning and save from having sleepless nights! As well as a final word of wisdom – don’t be afraid to become over-confident, because confidence and belief in one’s own powers are a fantastic recipe to success!