So, a little light bulb inside you head has lit up and you are struck with the notion 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 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 all the discussion, I would personally like to provide a few words of wisdom. While caring for your idea you will encounter those who will criticize your work and attempt to discourage you against forging ahead. Some of the Patent Filing Services will likely be deserved and must be taken into account. When you see which a valid point is raised which you never imagined of before – the greater off you happen to be. 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 according to any facts.
Whenever you discover ways to separate both of these, you will end up better of. My advice to you personally –
– Don’t be afraid to question professionals, since most experts are one-track minded and oblivious to many other things
– Don’t be scared to challenge other people’s ideas, uphold your principles and stay firm
– Don’t be afraid to learn that your own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you find yourself able to advertise your idea, you will need to deal with large corporations. Stay in mind that the bigger the company is, the greater bureaucratic it really is. Many big companies lose focus and quite often hire employees that are either not qualified to do the job, or just not thinking about what they are performing. If you locate these people that are trying to cause you to feel insignificant (and your idea unimportant and impractical) don’t get discouraged by this – then chances are you is going to be better off dealing with smaller company which is more focused and ready to take risks!
Step One – Remain Focused and Clearly Document Your Idea
This task has huge benefits, because –
1. You will clearly define your idea/invention
2. While documenting your idea, you may find ways regarding how to expand your invention
Always try to use paper what it is that you invented – precisely define your idea, its purpose, limitations and audience. If you fail to precisely define your idea, then which means that you need to take a step back, re-analyze your thinking and simplify things. The most typical error that people make at this time is finished-complicating their idea. A quick example will clarify this point:
Case Study 1
John K. comes with 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 along with a screw driver. However, the addition of these items helps make the How To Make An Invention Prototype With Inventhelp larger and heavier. In order to create knife lighter, John K. goes back towards the drawing board – he compromises his original, Automatic Push/Pull mechanism design in try to accommodate unnecessary additional features that have nothing related to his unique design. Through 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. needs to have stopped right before making any changes to his original Automatic Knife Mechanism and asked himself the subsequent – am I more satisfied using the original mechanism or with pedestrian mechanism which includes additional features? Are definitely the extra features even necessary?
The aforementioned example clearly illustrates these – focus on your original idea and ignore additional, superfluous features that might muddle your vision. Additional features should come into play later, when you clearly described and shaped your invention.
Step 2 Exploratory Stages – Determine if your idea is unique
Once you’ve documented your idea, you should begin thinking about the following – how unique is my idea? In order to answer these questions, you should carry out some legwork and hit your neighborhood library and internet. Until you allocated a substantial amount of your finances to Patent Lawyers, who will perform the research for you personally, you will end up better off doing initial research alone. Why? Since you may discover during your exploratory searches that your design is not unique and stay away from from paying Big Lawyer fees. A note of caution – don’t get discouraged if you determine that the idea comparable to yours already exists and already patented. The reality that someone arrived at the similar conclusions while you, just a little bit earlier is nice – there is a competition! Competition is good, competition is healthy! Carefully examine competing product, even carry it apart, if required. Determine what differentiates your idea from competitor’s, its limitations and exactly how successful was another person (or 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, a unique care needs to be consumed in describing potential hazards associated with the aid of your products or services. For instance, if you invented a new toy designed for small kids, try to create this 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 wrong using the operation of your own product and figure out ways concerning 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 that contains probably the most hazards needs to be redesigned?
Try to come up with a thorough list of parts that can be potentially hazardous and fix your design before you begin marketing your product or service. 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 own idea, and also you might save a bit of time by doing preparations beforehand.
Step 4 – Demographics and Determining who will Make Use Of Your Product
Ones there is a clear picture of your product and also you figured out all nuances of product design, try to determine who will make use of your product, where and when. Try to ask yourself the subsequent questions –
1. What exactly is the age bracket of target market?
2. Is my product created for Men, Women, or Both?
3. Where so when can it be utilized?
Correctly answering these questions can help you properly advertise your product and remain abreast of your competition. Additionally, knowing solutions to all these questions can help you in putting finishing touches on your product. How? If your product is designed for children, then it should be bright and colorful. Additionally, in case your product is made for cold climate, you need to avoid marketing it in places that it’s hot all year long.
It is very likely that your particular item is tailored for certain industry (for instance, agricultural); then think of people who may benefit the best 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 needs a thorough research, planning and leg work; the rewards, on the other hand, will likely be payoff rewarding!
Step 5 – Produce Full or Small Scale Model of Your Products Or Services
It is very important to make a working model from your idea. Why? Having a real-life model of your idea (or even a scaled-down version of this), will help you to –
1. Identify its limitations and offers you a chance to re-think some facets of your initial design making necessary corrections
2. Boost your final design
In addition to the previously listed items, the ultimate model will allow you to psychologically. There is no better feeling then in order to physically see and touch the development of your very own mind! The fact that you are touching the actual-life style of your final design will give you positive psychological boost equal to not one other you’ve experienced during design process, motivating you even more to succeed!
The simplest way to approach this method is to try to draw on a piece of paper the final version of your product, the way you see it around this 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 pretty because not many of us hold the necessary drawing skills. However, this drawing task will help you immensely solidify your design and pin-point things that you will still have to work on. In addition, I strongly recommend that you generate your initial product prototype from clay or some other material that is readily available. Why? Since 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.
As soon as you prepared your model, try to determine what 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 form of alloy? Once you determined the required materials, estimate production cost as the price that you’ll charge to your product will be based on the production expense of each individual unit. You don’t have to be 100% correct at this point along with your material selections, but it’s excellent to know what materials should go into creation of your products or services allowing you to have a ball-park figure on the final expense of your product.
Step 6 – Estimate Cost and Gross Profit
Once you determined that will use your product and where (or maybe your product’s market), it is actually time 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 made in a manner 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 produce a full-scale version of Inventhelp George Foreman made 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 the manufacturing plant is located in China and shipping costs are already factored in into the estimated production cost). Mary A. did comparative shopping and determined that other kinds of Baby Holders can sell 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 demands a 40% commissions per each purchase – meaning that $6 is paid as being a commission to the store for each $15 purchase. Mary A. immediately determined that her total profit will 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 amount of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct marketing plan is totally essential to the prosperity of your idea. Partnering with marketing company which you can trust and rely upon pays big dividends inside the long run and really should not be overlooked. What in the event you know about marketing companies? Many 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 have specific knowledge and inside connections in a broad range of industries. In addition to been expensive, many companies that fit in with this group are accused of fraud and inventor should carefully consider who they really are dealing with. Within the best case scenario, you can potentially lose all of your money and time; in worst-case scenario, in addition to losing money somebody else may take advantage of your invention (unless, needless to say, that you were fortunate enough to patent it!!)
2. Group B: These firms give inventor complete freedom in marketing their idea. Inventors choose what to say and concentrate on emphasize areas that they think are most pertinent to their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is a marketplace where individuals with ideas and firms who search for sharp minds meet. As well as helping you find a right partner who can help you 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 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 increase their chances to achieve success. Since right now, IdeaJets is totally free!
Conclusion and a few Final Thoughts:
As you can see, it will take lots of patience, preparation and perseverance for inventor to be successful. The main thing is always 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 amazing success with all the product comparable to what you’ve developed, then this means that the merchandise that you will be focusing on has great potential. Carefully examine competitor’s product and determine its weaknesses or vulnerabilities. This, obviously, presumes which you finalized your initial design, figured out each of the kinks and produced an entire-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 in designing marketing strategy specifically tailored towards your products or services. Wear paper and document all your findings since you may forget some details afterwards and recognize that the information you painfully require is gone. In general, attempt to incorporate all your findings xqvfcq to cost, market and demographic analysis into Business Strategy and store it in a safe place! Most companies you may try to work or partner with will require that you produce Business Strategy documentation. Not having one will force you to definitely produce Strategic Business Plan documentation almost overnight and this is simply not always easy. My suggestion to you – start working on the Business Plan through the very beginning and stay away from from having sleepless nights! And a final word of wisdom – don’t be afraid to be over-confident, because confidence and belief in one’s own powers are a great recipe to success!