So, a little light bulb inside you head has lit up and you are struck with the notion that you invented something. You are unsure yet how practical your idea is at this time, but something tells you that this might be the. Big break you were hoping to find. 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 with all the discussion, I would personally like to offer a few words of wisdom. While working on your idea you will encounter people who will criticize your work and try to discourage you from forging ahead. Some of the Invent Help Ideas is going to be deserved and really should be considered. When you see that a valid point is raised which you never imagined of before – the greater off you are. It offers you chance to stop 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 learn how to separate these two, you will end up better of. My advice to you personally –
– Don’t be afraid to question professionals, since most experts is one-track minded and oblivious to many other things
– Don’t be afraid to challenge other people’s ideas, uphold your principles and be firm
– Don’t hesitate to discover that the own idea is faulty. Pause, make corrections, re-analyze and move ahead
If you are ready to advertise your idea, you will have to deal with large corporations. Stay in mind that the bigger the company is, the greater bureaucratic it is actually. Many big companies lose focus and quite often hire employees who definitely are either not qualified to do the job, or just not interested in whatever they are performing. 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 is going to be more satisfied 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 concerning how to expand your invention
Always try to put on paper what exactly it is that you invented – precisely define your idea, its purpose, limitations and target market. If you fail to precisely define your idea, then which means that you should have a step back, re-analyze your thinking and simplify things. The most common error that folks make at this point has ended-complicating their idea. A fast example will clarify this point:
Case Study 1
John K. posseses 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 gain benefit from the addition of extra items – a scissor as well as a screw driver. However, adding these things definitely makes the Inventhelp Patent Referral Services 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 try to accommodate unnecessary extra features that 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.
Within the final analysis, John K. needs to have stopped right before making any changes to his original Automatic Knife Mechanism and asked himself these – am I more satisfied with the original mechanism or with pedestrian mechanism which includes extra features? Are definitely the extra features even necessary?
The above mentioned example clearly illustrates the subsequent – give attention to your original idea and ignore additional, superfluous features that might muddle your vision. Extra features should come into play later, when you clearly described and shaped your invention.
Step 2 Exploratory Stages – Determine whether your idea is different
Once you’ve documented your idea, you should start taking into consideration the following – how unique is my idea? In order to answer these questions, you should carry out some legwork and hit the local library and internet. Until you allocated a substantial amount of your finances to Patent Lawyers, who will perform the research for you, you will end up happier doing initial research on your own. Why? Because you may discover during your exploratory searches that your particular design is not unique and save from paying Big Lawyer fees. A note of caution – don’t get discouraged in the event you determine that the idea similar to yours already exists and already patented. The truth that someone got to the similar conclusions while you, just just a little bit earlier is great – you do have a competition! Levels of competition are good, level of competition is healthy! Carefully examine competing product, even carry it apart, if necessary. Know 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 conscious of competition as well as their limitations.
Step 3 – Product Safety Considerations
Whether you opted to make a baby product or some kind of household appliance, a special care should be consumed describing potential hazards associated with the aid of your product. For example, if you invented a new toy created for young children, try to come up with the list of parts that can potentially harm your little customers. Stay in mind that lots of people, unfortunately, disregard exploitation manuals. Know what can or may go awry with the operation of your own product and determine ways on how to improve product safety. The questions that you simply may think about are definitely the following –
1. Am I using proper materials?
2. Maybe the part that contains the most hazards should be redesigned?
Try to generate a thorough set of parts that can be potentially hazardous and correct your design before you start out marketing your product. You may consider this step as unnecessary, but let me warn you – most marketing companies will require that you describe all Safety features of your own idea, and you might save yourself a bit of time by doing preparations in advance.
Step 4 – Demographics and Determining that will Use Your Product
Ones there is a clear picture of the product and you also figured out all nuances of product design, attempt to determine that will make use of your product, where and when. Make an effort to ask yourself the subsequent questions –
1. Exactly what is the age bracket of target audience?
2. Is my product designed for Men, Women, or Both?
3. Where and once can it be used?
Correctly answering these questions can help you properly advertise your product and remain abreast of competition. Additionally, knowing answers to all these questions will help you in putting finishing touches on your product. How? If your product is designed for children, then it ought to be bright and colorful. In addition, if your product is designed for cold climate, you ought to avoid marketing it in places that it’s hot all year long.
It is extremely likely that your product is tailored for certain industry (as an example, agricultural); then think of people who will benefit the best from your invention! Should your product was created to work with specific soil or crops, then you should target geographical region rich with desired characteristics. As you can see, this task needs a thorough research, planning and leg work; the benefits, on the other hand, will be payoff rewarding!
Step 5 – Produce Full or Small Scale Model of Your Product Or Service
It is extremely important to produce a working model from your idea. Why? By having a real-life style of your idea (or perhaps a scaled-down version of it), will assist you to –
1. Identify its limitations and gives you an opportunity to re-think some aspects of your initial design and make necessary corrections
2. Enhance your final design
Along with the previously discussed items, the final model will help you psychologically. There is absolutely no better feeling then so that you can physically see and touch the creation of your personal mind! Because you are touching the actual-life style of your final design will provide you with positive psychological boost equal to hardly any other you’ve experienced during design process, motivating you even more to be successful!
The best way to approach this method is to attempt to draw on some paper the final version of your own product, how you view it at this point over time. Your drawings should show one last idea/product under different angles, in a 2-D and 3-D. The image might not be pretty because not most of us have the necessary drawing skills. However, this drawing task will allow you to immensely solidify your design and pin-point things that you will still need to work on. Additionally, I strongly suggest that you simply generate your initial product prototype from clay or any other material which is easily available. Why? Since this prototype along with initial drawing will allow you to explain your idea to technical individual that, subsequently, will transform your design into highly technical engineering drawing.
Once you prepared your model, try to find out what materials should 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? When you determined the essential materials, estimate production cost since the price that you’ll charge to your product depends on the production expense of every individual unit. You don’t must be 100% correct at this stage along with your material selections, but it’s excellent to know what materials will go into production of your product or service allowing you to have a ball-park figure on the final expense of your product or service.
Step 6 – Estimate Cost and Gross Profit
When you determined who can use your product and where (or your product’s market), it really is time and energy to think “big” – make an effort to work out cost/benefit analysis of your product. Below is actually 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 created in a manner which 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 Inventhelp Caveman Commercial made of clay. Before involving an engineer, Mary A. estimated that her product will likely 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 into the estimated production cost). Mary A. did comparative shopping and determined that other types 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 – meaning that $6 is paid being a commission towards 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 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 absolutely important to the success of your idea. Partnering with marketing company that you simply can trust and rely upon will pay big dividends within the long run and must not be overlooked. What should you know about marketing companies? Many of these companies are split into two groups (I am going to give them a call groups A and B) –
1. Group A: These firms claim they may have specific knowledge and inside connections in a broad range of industries. As well as been expensive, many companies that fit in with this group are charged with fraud and inventor should carefully consider who they are coping with. In the best case scenario, you can potentially lose all of your money and time; in worst-case scenario, in addition to losing money someone else may benefit from your invention (unless, needless to say, you were lucky enough to patent it!!)
2. Group B: These firms give inventor complete freedom in marketing their idea. Inventors choose things to say and concentrate on emphasize areas they believe are most pertinent with their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is a marketplace where people who have ideas and firms who look 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 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 succeed. Since right now, IdeaJets is completely free!
Conclusion plus some Final Thoughts:
As you can see, it requires plenty of patience, preparation and perseverance on the part of inventor to succeed. The biggest thing is always 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. If your competitor is enjoying a positive results with the product comparable to what you’ve developed, then this means that the merchandise that you will be working on has great potential. Carefully examine competitor’s product and determine its weaknesses or vulnerabilities. This, obviously, presumes that you finalized your initial design, resolved each of the kinks and produced an entire-scale (or scaled-down) version of the product. As soon as 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. Put on paper and document all of your findings because you may forget some details down the road and understand that the info you painfully should get is gone. In general, attempt to incorporate all your findings xqvfcq to cost, market and demographic analysis into Business Plan and store it in a safe place! Most companies 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 Strategic Business Plan documentation almost overnight and this is simply not an easy task. My suggestion to you – start working on the Business Plan from the very beginning and stay away from 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 great recipe to success!