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 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 guarantee 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 those who will criticize your work and then try to discourage from forging ahead. A few of the Reviews For Inventhelp will be deserved and must be taken into account. When you see that a valid point is raised that you simply never imagined of before – the higher off you might be. It gives you possibility to pause and view your idea from another perspective (or angle). However, you may also encounter a so-called destructive criticism that is certainly not based on any facts.
When you learn how to separate both of these, you may be better of. My advice to you –
– Don’t be afraid to question professionals, since most experts are one-track minded and oblivious to other things
– Don’t be afraid to challenge other people’s ideas, stand by your principles and be firm
– Don’t hesitate to discover that your particular own idea is faulty. Pause, make corrections, re-analyze and move ahead
If you are prepared to market your idea, you will have to handle large corporations. Keep in mind that the bigger the company is, the better bureaucratic it really is. Many big companies lose focus and often hire employees who are either not qualified for the task, or just not considering the things they are going to do. If you come across these people that are attempting to cause you to feel insignificant (as well as your idea unimportant and impractical) don’t get discouraged from this – then you will be better off coping with smaller company which is more focused and willing to take risks!
Step 1 – 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 on how to expand your invention
Always try to wear paper what it is that you invented – precisely define your idea, its purpose, limitations and audience. If you cannot precisely define your idea, then which means that you need to require a step back, re-analyze your thinking and simplify things. The most frequent error that folks make at this time is finished-complicating their idea. A quick example will clarify this point:
Case Study 1
John K. has 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 benefit from the addition of extra items – a scissor as well as a screw driver. However, adding these things helps make the Inventions 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 try to accommodate unnecessary extra 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.
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 better off with all the original mechanism or with pedestrian mechanism which includes additional features? Would be the extra features even necessary?
The above mentioned example clearly illustrates these – focus on 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 can start taking into consideration the following – how unique is my idea? In order to answer these questions, you will need to do some legwork and hit your local library and internet. Unless you allocated a substantial amount of your finances to Patent Lawyers, that will perform the research for you, you will be happier doing initial research on your own. Why? Since you may discover throughout your exploratory searches that the design will not be unique and save from paying Big Lawyer fees. A note of caution – don’t get discouraged should you determine that this idea comparable to yours already exists and already patented. The truth that someone came to the similar conclusions when you, just just a little bit earlier is great – you have a competition! Competition is good, level of competition is healthy! Carefully examine competing product, even take it apart, if necessary. Determine what differentiates your idea from competitor’s, its limitations and just how successful was someone else (or perhaps a company) with marketing it. When you can see, you can actually study from mistakes of others, avoid their mistakes and forge ahead fully conscious of competition along with their limitations.
Step 3 – Product Safety Considerations
Whether you decided to make 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, in the event you invented a whole new toy intended for small kids, try to generate a list of parts that can potentially harm your little customers. Stay in mind that many people, unfortunately, disregard exploitation manuals. Determine what can or may go awry with the operation of your product and find out ways regarding how to improve product safety. The questions that you simply may think about are the following –
1. Am I using proper materials?
2. Maybe the part which contains the most hazards ought to be redesigned?
Try to come up with a comprehensive set of parts that can be potentially hazardous and fix your design before you start marketing your products or services. You may consider this step as unnecessary, but let me warn you – most marketing companies will need you to describe all Safety measures of your own idea, and you also might save yourself a while by doing preparations in advance.
Step 4 – Demographics and Determining that will Make Use Of Your Product
Ones you have a clear picture of the product and also you worked out all nuances of product design, try to determine that will make use of your product, when and where. Attempt to ask yourself these questions –
1. Exactly what is the age bracket of audience?
2. Is my product intended for Men, Women, or Both?
3. Where and once can it be used?
Correctly answering these questions will help you properly advertise your product and stay abreast of your competition. In addition, knowing techniques to the above mentioned questions will allow you to in putting finishing touches on your own product. How? If your product is designed for children, then it needs to be bright and colorful. In addition, in case your product is designed for cold climate, you need to 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 (as an example, agricultural); then think of those who may benefit the most from your invention! Should your product is designed to work with specific soil or crops, then you certainly should target geographical region rich with desired characteristics. As you can see, this method 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 Model of Your Products Or Services
It is extremely important to produce a working model from your idea. Why? Having a real-life model of your idea (or even a scaled-down version from it), will help you –
1. Identify its limitations and provides you the opportunity to re-think some facets of your initial design to make necessary corrections
2. Enhance your final design
In addition to the above mentioned items, the final model can help you psychologically. There is not any better feeling then to be able to physically see and touch the creation of your very own mind! The fact that you are touching the real-life style of one last design will give you 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 bit of paper the last version of the product, how you see it at this point soon enough. Your drawings should show one last idea/product under different angles, in a 2-D and three-D. The photo might not pretty because not many of us have the necessary drawing skills. However, this drawing task will allow you to immensely solidify your design and pin-point items that you continue to have to work on. Additionally, I strongly recommend which you generate your initial product prototype from clay or other material which is readily available. Why? Because this prototype together with initial drawing will help you explain your idea to technical individual who, consequently, will transform your design into highly technical engineering drawing.
Once you prepared your model, try to determine which 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 – will it be aluminum, copper or some type of alloy? Once you determined the necessary materials, estimate production cost because the price that you’ll charge for your product depends on the production cost of each individual unit. You don’t need to be 100% correct at this stage together with your material selections, but it’s very good to know what materials should go into production of your products or services so that you have a ball-park figure on the final price of your product.
Step 6 – Estimate Cost and Gross Profit
As soon as you determined that will make use of your product and where (or your product’s market), it really is time for you to think “big” – make an effort to work out cost/benefit analysis of your own product. Below is actually 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 way which it would hold 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 Vibe Inventhelp 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 that the manufacturing plant is situated in China and shipping expenses are already factored in 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); furthermore, each stores requires a 40% commissions per each purchase – meaning that $6 is paid as a commission for the store for each and every $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 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 necessary to the achievements of your idea. Partnering with marketing company which you can trust and depend on pays big dividends within 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 am going to call them groups A and B) –
1. Group A: These businesses claim that they have specific knowledge and inside connections in a broad range of industries. In addition to been expensive, most companies that fit in with this group are charged with fraud and inventor should carefully consider who they are dealing with. In the best case scenario, you could potentially lose all your money and time; in worst-case scenario, as well as losing money somebody else may take advantage of your invention (unless, of course, that you were fortunate enough to patent it!!)
2. Group B: These businesses give inventor complete freedom in marketing their idea. Inventors choose what you should say and concentrate on emphasize areas which they believe are most pertinent with their invention. I would like to point out IdeaJets website (www.ideajets.com):
IdeaJets is really a marketplace where individuals with ideas and corporations who look for sharp minds meet. As well as helping you discover a right partner who can help you realize your ideas and dreams, IdeaJets also brings inventors in touch with other ambitious men and women 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 those to further enhance their chances to succeed. As of right now, IdeaJets is completely free!
Conclusion and some Final Thoughts:
As one can see, it will take 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 existence of competition and potential rejections. When I mentioned within my article, competition is good and healthy. Should your competitor is enjoying a positive results using the product much like 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, needless to say, presumes that you finalized your initial design, resolved each of the kinks and produced a full-scale (or scaled-down) version of your own product. As soon as 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 your findings since you may forget some details down the road and understand that the data you painfully should get is gone. In general, make an effort to incorporate all of your findings xqvfcq to cost, market and demographic analysis into Business Plan and store it in a safe place! Most companies you are going to attempt to work or partner with will need you to produce Business Strategy documentation. Not having you might force one to produce Business Strategy documentation almost overnight and this may not be always easy. My suggestion for you – begin working on the Strategic Business Plan from the very beginning and save yourself from having sleepless nights! As well as a final word of wisdom – don’t be afraid to be over-confident, because confidence and belief in one’s own powers are a fantastic recipe to success!