So, a little light bulb within you head has lit up and you are struck with the idea 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 assure you that in the end you will be happy that you took my advice.
Before we proceed with the discussion, I would like to provide a few words of wisdom. While dealing with your idea you will come across those who will criticize your work and attempt to discourage you from forging ahead. Some of the Vibe Inventhelp will be deserved and should be taken into consideration. If you see that a valid point is raised which you never thought of before – the greater off you might be. It gives you opportunity to pause 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.
Whenever you figure out how to separate these two, you will end up better of. My advice to you –
– Don’t hesitate to question professionals, since most experts is one-track minded and oblivious to many other things
– Don’t hesitate to challenge other people’s ideas, stand by your principles and be firm
– Don’t hesitate to find out that your particular own idea is faulty. Pause, make corrections, re-analyze and move ahead
If you are prepared to advertise your idea, you should handle large corporations. Stay in mind that the larger the company is, the greater bureaucratic it is. Many big companies lose focus and often hire employees who are either not qualified for the job, or just not interested in the things they are performing. If you locate these people that want to make you feel insignificant (as well as your idea unimportant and impractical) don’t get discouraged from this – then chances are you will likely be happier working with smaller company that is more focused and willing to take risks!
Step One – Remain Focused and Clearly Document Your Idea
This task has huge benefits, because –
1. You are going to 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 it is that you simply invented – precisely define your idea, its purpose, limitations and audience. If you cannot precisely define your idea, then which means that you should have a step back, re-analyze your thinking and simplify things. The most frequent error that people make at this point is finished-complicating their idea. A simple example will clarify this point:
Case Study 1
John K. comes with an idea regarding 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 and a screw driver. However, adding these items makes the Inventhelp Intromark larger and heavier. In order to make knife lighter, John K. goes back to the drawing board – he compromises his original, Automatic Push/Pull mechanism design in make an effort to accommodate unnecessary additional features which have nothing concerning his unique design. By taking away features from his original design, John K. makes his final design very pedestrian and 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 the following – am I better off with the original mechanism or with pedestrian mechanism which includes extra features? Are definitely the extra features even necessary?
The aforementioned example clearly illustrates the subsequent – concentrate on your original idea and ignore additional, superfluous features that might muddle your vision. Additional features should come into play later, once you clearly described and shaped your invention.
Step 2 Exploratory Stages – Determine if your idea is unique
Once you’ve documented your idea, you can 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. Except if you allocated a substantial amount of your finances to Patent Lawyers, that will carry out the research to suit your needs, you will be more satisfied doing initial research by yourself. Why? Since you may discover throughout your exploratory searches that the design is not unique and save yourself 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 fact that someone got to the similar conclusions as you, just a bit bit earlier is good – there is a competition! Levels of competition are good, 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 how successful was someone else (or even a company) with marketing it. When you can see, you can actually learn from mistakes of others, avoid their mistakes and forge ahead fully conscious of competition along with their limitations.
Step Three – Product Safety Considerations
Whether you decided to produce a baby product or some form of household appliance, a special care ought to be consumed in describing potential hazards associated by using your products or services. As an example, should you invented a new toy designed for small kids, try to generate the list of parts that can potentially harm your little customers. Stay in mind that numerous people, unfortunately, disregard exploitation manuals. Figure out what can or may go wrong with all the operation of the product and figure out ways on how to improve product safety. The questions that you simply may consider are definitely the following –
1. Am I using proper materials?
2. Maybe the part which has probably the most hazards should be redesigned?
Try to create a complete listing of parts that can be potentially hazardous and repair your design before you begin marketing your product or service. You may think of this step as unnecessary, but let me warn you – most marketing companies will require you to describe all Safety features of your own idea, and you might save yourself a bit of time by doing preparations ahead of time.
Step 4 – Demographics and Determining who will Make Use Of Your Product
Ones there is a clear picture of the product and you also resolved all nuances of product design, make an effort to determine who can make use of your product, when and where. Attempt to ask yourself the following questions –
1. Exactly what is the age bracket of audience?
2. Is my product designed for Men, Women, or Both?
3. Where and once can it be utilized?
Correctly answering these questions will allow you to properly market your product and stay up to date with competition. In addition, knowing techniques to the above mentioned questions will help you in putting finishing touches on the product. How? In case your product is ideal for children, then it should be bright and colorful. Additionally, in case your product is made for cold climate, you should 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 (for example, agricultural); then think of those who will manage to benefit the most from your invention! In case your product is made to work with specific soil or crops, then you should target geographical region rich with desired characteristics. As one can see, this step demands a thorough research, planning and leg work; the advantages, on the other hand, is going to be payoff rewarding!
Step 5 – Produce Full or Small Scale Style of Your Product
It is very important to create a working model away from your idea. Why? With a real-life type of your idea (or even a scaled-down version of it), will help you –
1. Identify its limitations and gives you an opportunity to re-think some facets of your initial design making necessary corrections
2. Improve your final design
Along with the above mentioned items, the last model can help you psychologically. There is no better feeling then so that you can physically see and touch the creation of your personal mind! The fact that you are touching the actual-life style of your final design provides you with positive psychological boost similar to not one other you’ve experienced during design process, motivating you even more to achieve success!
The easiest method to approach this method is to try and draw on a piece of paper the ultimate version of your own product, how you view it around this 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 pretty because not a lot of us hold the necessary drawing skills. However, this drawing task can help you immensely solidify your design and pin-point items which you still must work on. In addition, I strongly recommend which you generate your initial product prototype from clay or any other material that is easily available. Why? As this prototype along with initial drawing will help you explain your idea to technical individual who, consequently, will transform your design into highly technical engineering drawing.
As soon as you prepared your model, try to determine which 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 – could it be aluminum, copper or some kind of alloy? When you determined the necessary materials, estimate production cost because the price that you’ll charge for your product depends on the production price of each individual unit. You don’t have to be 100% correct at this time along with your material selections, but it’s great to know what materials will go into production of your product or service so that you have a ball-park figure on the final price of your products or services.
Step 6 – Estimate Cost and Gross Profit
When you determined who can use your product and where (or perhaps your product’s market), it is actually time for you to think “big” – try to work out cost/benefit analysis of the product. Below is 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 designed in such a way that it would hold both bottles, spoons and bottle caps. Mary A. created numerous drawings of her product and with the aid of her husband managed to produce a full-scale version of How To Start An Invention manufactured from clay. Before involving an engineer, Mary A. estimated that her product will likely be made entirely away from plastic. The estimated production price of 1 bottle holder is $3.00 (we presume that this manufacturing plant is located in China and shipping costs are already factored in to the estimated production cost). Mary A. did comparative shopping and determined that other sorts of Baby Holders are selling 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 – which means that $6 is paid 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 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 quantity of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct marketing strategy is completely important to the prosperity of your idea. Partnering with marketing company which you can trust and rely upon will pay big dividends within the long run and should not be overlooked. What in case you know about marketing companies? Many of these companies are split into two groups (I am going to contact them groups A and B) –
1. Group A: These firms claim they may 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 are dealing with. Within the best case scenario, you can potentially lose all of your money and valuable time; in worst-case scenario, along with losing money somebody else may benefit from your invention (unless, of course, that you were lucky enough to patent it!!)
2. Group B: These firms give inventor complete freedom in marketing their idea. Inventors choose what to say while focusing on emphasize areas that they think are most pertinent with their invention. I would personally like to point out IdeaJets website (www.ideajets.com):
IdeaJets is really a marketplace where people who have ideas and companies who search for sharp minds meet. As well as helping you discover a right partner who can help you realize your opinions 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 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 improve their chances to achieve success. Since right now, IdeaJets is completely free!
Conclusion and a few Final Thoughts:
As one can see, it requires lots of patience, preparation and perseverance on behalf of inventor to be successful. The main thing would be to not get discouraged by the existence of competition and potential rejections. When I mentioned within my article, level of competition is good and healthy. Should your competitor is having a positive results using the product similar to what you’ve developed, then which means that the item that you are currently working on has great potential. Carefully examine competitor’s product and figure out its weaknesses or vulnerabilities. This, of course, presumes that you simply finalized your initial design, worked out all of the kinks and produced a full-scale (or scaled-down) version of the product. Once you know enough about competitor’s product, carefully study your market and demographics – this will help you in designing online marketing strategy specifically tailored towards your products or services. Put on paper and document all your findings since you may forget some details later on and realize that the information you painfully should get is gone. In general, make an effort to incorporate your findings xqvfcq to cost, market and demographic analysis into Business Plan and store it in a safe place! A lot of companies you may make an effort to work or partner with will require that you produce Business Plan documentation. Without having one will force one to produce Business Strategy documentation almost overnight and this is simply not an easy task. My suggestion to you – start working on the Business Plan from your beginning and stay away from from having sleepless nights! Along with a final word of wisdom – don’t hesitate to become over-confident, because confidence and belief in one’s own powers are a good recipe to success!