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 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 all the discussion, I would like to offer a few words of wisdom. While dealing with your idea you will come across people who will criticize your work and try to discourage you against forging ahead. Some of the Inventhelp Inventor will likely be deserved and should be taken into account. If you notice that the valid point is raised that you never thought of before – the greater off you might be. It provides you with possibility 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 upon any facts.
When you learn how to separate both of these, you may be better of. My advice to you personally –
– Don’t be scared to question professionals, because most experts are certainly one-track minded and oblivious with other things
– Don’t hesitate to challenge other people’s ideas, uphold your principles and stay firm
– Don’t be afraid to learn that your particular own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you find yourself able to advertise your idea, you should deal with large corporations. Keep in mind that the bigger the company is, the more bureaucratic it is. Many big companies lose focus and quite often hire employees that are either not qualified for the task, or just not considering the things they are going to do. If you discover these people that want to help you feel insignificant (as well as your idea unimportant and impractical) don’t get discouraged with this – then you is going to be more satisfied dealing with smaller company that is more focused and willing to take risks!
Step 1 – 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 on how to expand your invention
Always try to wear 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 have a step back, re-analyze your thinking and simplify things. The most common error that individuals make at this time is finished-complicating their idea. A quick 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, the addition of these things makes the Inventhelp Commercial 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 make an effort to accommodate unnecessary extra features which have nothing to do with 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.
In 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 more satisfied with all the original mechanism or with pedestrian mechanism which has extra features? Are the extra features even necessary?
The above mentioned example clearly illustrates these – give attention to your original idea and ignore additional, superfluous features that might muddle your vision. Additional features will come into play later, as soon as you clearly described and shaped your invention.
Step Two 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 respond to these questions, you will need to carry out some legwork and hit your neighborhood library and internet. Unless you allocated a lot of your financial budget to Patent Lawyers, who will carry out the research for you personally, you will end up more satisfied doing initial research by yourself. Why? Since you may discover throughout your exploratory searches that your design will not be unique and save yourself 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 reality that someone arrived at the similar conclusions as you, 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. Know what differentiates your idea from competitor’s, its limitations and just how successful was another person (or even a company) with marketing it. When you can see, you can actually study from mistakes of others, avoid their mistakes and forge ahead fully aware of competition and their limitations.
Step Three – Product Safety Considerations
Whether you opted to generate a baby product or some kind of household appliance, a special care should be consumed in describing potential hazards associated with the use of your product or service. For instance, should you invented a new toy designed for young children, try to create the list of parts that can potentially harm your little customers. Stay in mind that numerous people, unfortunately, disregard exploitation manuals. Determine what can or may go wrong with the operation of the product and figure out ways on how to improve product safety. The questions that you may think about are the following –
1. Am I using proper materials?
2. Maybe the part which has by far the most hazards ought to be redesigned?
Try to come up with a complete list of parts that can be potentially hazardous and correct your design before you begin 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 your idea, and also you might save yourself some time by doing preparations beforehand.
Step 4 – Demographics and Determining that will Make Use Of Your Product
Ones you have a clear picture of your product and you worked out all nuances of product design, attempt to determine who can make use of product, when and where. Make an effort to consider these questions –
1. What exactly is the age bracket of audience?
2. Is my product intended for Men, Women, or Both?
3. Where so when can it be applied?
Correctly answering these questions will allow you to properly promote your product and remain up to date with your competition. In addition, knowing techniques to all these questions can help you in putting finishing touches on your own product. How? If your product is made for children, then it ought to be bright and colorful. Furthermore, if your product is made for cold climate, you ought to avoid marketing it in places that it’s hot all year long.
It is quite likely that the item is tailored for certain industry (for instance, agricultural); then think of those that will manage to benefit the best from your invention! If your product was created to work with specific soil or crops, then you should target geographical region rich with desired characteristics. As one can see, this step requires a thorough research, planning and leg work; the benefits, on the other hand, will likely be payoff rewarding!
Step 5 – Produce Full or Small Scale Style of Your Products Or Services
It is extremely important to make a working model from your idea. Why? By having a real-life model of your idea (or a scaled-down version of it), will assist you to –
1. Identify its limitations and provides you the opportunity to re-think some facets of your initial design and make necessary corrections
2. Boost your final design
In addition to 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 own mind! The fact that you are touching the actual-life type of your final design will give you positive psychological boost comparable 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 last version of your product, how you look at 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 picture might not be 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 items that you continue to must work on. In addition, I strongly suggest that you simply generate your initial product prototype from clay or any other material that is certainly easily available. Why? Because this prototype in addition to initial drawing will allow you to explain your idea to technical individual who, subsequently, will transform your design into highly technical engineering drawing.
Once you prepared your model, try to determine which 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 – will it be aluminum, copper or some form of alloy? Once you determined the required materials, estimate production cost because the price that you’ll charge for the product will be based on the production price of every person unit. You don’t must be 100% correct at this time together with your material selections, but it’s very good to know what materials goes into production of your products or services allowing you to have a ball-park figure on the final cost of your products or services.
Step 6 – Estimate Cost and Gross Profit
Once you determined who will use your product and where (or perhaps your product’s market), it is time to think “big” – make an effort 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 created in a manner 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 make a full-scale version of I Have An Invention Where Do I Start made from clay. Before involving an engineer, Mary A. estimated that her product is going to be made entirely from plastic. The estimated production expense of 1 bottle holder is $3.00 (we presume that the manufacturing plant is situated in China and shipping costs are already factored 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); additionally, each stores demands a 40% commissions per each purchase – meaning that $6 is paid as being a commission to the store for every $15 purchase. Mary A. immediately figured out that her total profit will be $6 per each bottle holder ($15 – $6 – $3). Presume that a person third of all 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 online marketing strategy is completely important to the prosperity of your idea. Partnering with marketing company that you simply can trust and depend on pays big dividends inside the long run and should not be overlooked. What should you know about marketing companies? Most of these companies are divided into two groups (I will contact them groups A and B) –
1. Group A: These companies claim that they have specific knowledge and inside connections in a broad range of industries. In addition to been expensive, many companies that belong to this group are charged with fraud and inventor should carefully consider who they are dealing with. Inside the best case scenario, you could potentially lose all of your money and valuable time; in worst-case scenario, in addition to losing money another person may take advantage of your invention (unless, obviously, that you were lucky enough to patent it!!)
2. Group B: These companies give inventor complete freedom in marketing their idea. Inventors choose what to say while focusing on emphasize areas that they believe are most pertinent for their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is a marketplace where people who have ideas and companies who search for sharp minds meet. In addition to helping you discover a right partner who can assist you to realize your ideas and dreams, IdeaJets also brings inventors in contact 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 perhaps 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 be successful. At the time of right now, IdeaJets is entirely free!
Conclusion and some Final Thoughts:
As one can see, it takes a lot of patience, preparation and perseverance on behalf of inventor to be successful. The main thing would be to not get discouraged by the actual existence of competition and potential rejections. As I mentioned within my article, level of competition is good and healthy. If your competitor is going for a amazing success using the product comparable to what you’ve developed, then this means that the item that you are currently working on has great potential. Carefully examine competitor’s product and find out its weaknesses or vulnerabilities. This, of course, 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 your findings simply because you may forget some details down the road and realize that the info you painfully need is gone. In general, make an effort 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 attempt to work or partner with will require that you produce Business Strategy documentation. Lacking you might force you to produce Business Plan documentation almost overnight and this is not an easy task. My suggestion for you – start working on the Business Strategy from the beginning and save yourself from having sleepless nights! As well as a final word of wisdom – don’t be scared to be over-confident, because confidence and belief in one’s own powers are a good recipe to success!