So, a little light bulb within you head has lit up and you are struck with the idea 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 assure you that in the end you will be happy that you took my advice.
Before we proceed with the discussion, I might like to offer a few words of wisdom. While dealing with your idea you will come across individuals who will criticize your work and attempt to discourage from forging ahead. Some of the Inventhelp Technology is going to be deserved and really should be taken into account. If you notice which a valid point is raised that you never imagined of before – the greater off you happen to be. It provides you with opportunity to stop and view your idea from another perspective (or angle). However, you may also encounter a so-called destructive criticism that is not based on any facts.
When you discover ways to separate these two, you will end up better of. My advice to you –
– Don’t hesitate to question professionals, because most experts are certainly one-track minded and oblivious with other things
– Don’t be scared to challenge other people’s ideas, uphold 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 market your idea, you should handle large corporations. Stay in mind that the larger the company is, the better bureaucratic it really is. Many big companies lose focus and often hire employees who definitely are either not qualified for the task, or just not thinking about whatever they are doing. If you discover these people that want to cause you to feel insignificant (as well as your idea unimportant and impractical) don’t get discouraged from this – then you will likely be happier working with smaller company which is more focused and prepared to take risks!
Step One – Stay Focused and Clearly Document Your Idea
This method has huge benefits, because –
1. You are going to 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 exactly it is that you invented – precisely define your idea, its purpose, limitations and target audience. If you cannot precisely define your idea, then because of this you should require a step back, re-analyze your thinking and simplify things. The most frequent error that folks make at this point is over-complicating their idea. A fast example will clarify this point:
Case Study 1
John K. has 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 take advantage of the addition of extra items – a scissor as well as a screw driver. However, the addition of these items definitely makes the Invention Ideas larger and heavier. In order to make knife lighter, John K. goes back for the drawing board – he compromises his original, Automatic Push/Pull mechanism design in attempt to accommodate unnecessary additional features that have nothing concerning his unique design. Through 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. should have stopped right before creating any changes to his original Automatic Knife Mechanism and asked himself the subsequent – am I better off with the original mechanism or with pedestrian mechanism which has extra features? Are definitely the extra features even necessary?
The above example clearly illustrates the subsequent – focus on 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 – See whether your idea is different
Once you’ve documented your idea, you can start thinking about the following – how unique is my idea? In order to respond to these questions, you will need to perform some legwork and hit the local library and internet. Except if you allocated a large amount of your financial budget to Patent Lawyers, who can carry out the research for you, you will be better off doing initial research alone. 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 the idea comparable to yours already exists and already patented. The truth that someone got to the similar conclusions while you, just a bit bit earlier is great – there is a competition! Competition is 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 exactly how successful was another individual (or even a company) with marketing it. While you can see, you can actually learn from mistakes of others, avoid their mistakes and forge ahead fully conscious of competition and their limitations.
Step 3 – Product Safety Considerations
Whether you opted to produce a baby product or some type of household appliance, a unique care ought to be consumed in describing potential hazards associated with the use of your products or services. For example, should you invented a new toy intended for small children, try to come up with this list of parts that can potentially harm your little customers. Stay in mind that numerous people, unfortunately, disregard exploitation manuals. Know what can or may go awry with all the operation of your product and determine ways on how to improve product safety. The questions that you simply may ask yourself are the following –
1. Am I using proper materials?
2. Maybe the part which contains the most hazards needs to be redesigned?
Try to generate a thorough list of parts that can be potentially hazardous and fix 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 Security features of your idea, and you might save a while by doing preparations ahead of time.
Step 4 – Demographics and Determining that will Make Use Of Your Product
Ones there is a clear picture of the product and you figured out all nuances of product design, try to determine who will make use of product, when and where. Attempt to think about these questions –
1. Exactly what is the age bracket of target audience?
2. Is my product created 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 abreast of the competition. Additionally, knowing answers to the above mentioned questions can help you in putting finishing touches on your own product. How? In case your product is ideal for children, then it ought to be bright and colorful. Additionally, in case your product is designed for cold climate, you ought to avoid marketing it in locations where it’s hot all year long.
It is quite likely that your particular item is tailored for certain industry (for instance, agricultural); then think of those that may benefit the most 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 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 Model of Your Product Or Service
It is extremely important to produce a working model away from your idea. Why? By having a real-life style of your idea (or a scaled-down version of this), will assist you to –
1. Identify its limitations and provides you a chance to re-think some elements of your initial design to make necessary corrections
2. Enhance your final design
In addition to the previously listed items, the final model will help you psychologically. There is no better feeling then in order to physically see and touch the development of your own mind! The fact that you are touching the true-life type of one last design provides you with positive psychological boost comparable to no other you’ve experienced during design process, motivating you even more to be successful!
The simplest way to approach this method is to try and draw on a piece of paper the last version of the product, the way you look at it at this point soon enough. Your drawings should show your final idea/product under different angles, in a 2-D and three-D. The image might not really pretty because not most of us hold the necessary drawing skills. However, this drawing task can help you immensely solidify your design and pin-point things that you still have to work on. In addition, I strongly suggest which you generate your initial product prototype from clay or some other material that is readily accessible. Why? Since this prototype along with initial drawing can help you explain your idea to technical individual that, in turn, will transform your design into highly technical engineering drawing.
As soon as you prepared your model, try to determine which materials will 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 form of alloy? Once you determined the required materials, estimate production cost because the price that you’ll charge to your product will be based on the production price of every individual unit. You don’t need to be 100% correct at this stage with your material selections, but it’s great to know what materials goes into production of your product or service so that you have a ball-park figure on the final expense of your products or services.
Step 6 – Estimate Cost and Gross Profit
When you determined who will make use of product and where (or your product’s market), it is time to think “big” – make an effort to work out cost/benefit analysis of the 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 such a way it would hold both bottles, spoons and bottle caps. Mary A. created numerous drawings of her product and with the help of her husband managed to make a full-scale version of Ideas For Inventions made from clay. Before involving an engineer, Mary A. estimated that her product will be made entirely from plastic. The estimated production cost of 1 bottle holder is $3.00 (we presume the manufacturing plant is located in China and shipping expenses are already factored in to the estimated production cost). Mary A. did comparative shopping and determined that other types 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 needs a 40% commissions per each purchase – which means $6 is paid as a commission for the store for each $15 purchase. Mary A. immediately figured out that her total profit will likely 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 online marketing strategy is completely essential to the achievements of your idea. Partnering with marketing company that you simply can trust and depend on will pay big dividends inside the long run and should not be overlooked. What in the event you know about marketing companies? Most of these companies are divided into two groups (I will give them a call groups A and B) –
1. Group A: These businesses claim they may have specific knowledge and inside connections in a broad range of industries. Along with been expensive, most companies that fit in with this group are charged with fraud and inventor should carefully consider who they are working with. Within the best case scenario, you could potentially lose all your money and time; in worst-case scenario, along with losing money someone else may benefit from your invention (unless, obviously, you had been fortunate enough to patent it!!)
2. Group B: These firms give inventor complete freedom in marketing their idea. Inventors choose things to say while focusing on emphasize areas which they think are most pertinent to their invention. I would personally like to point out IdeaJets website (www.ideajets.com):
IdeaJets is a marketplace where individuals with ideas and corporations who search for sharp minds meet. Along with helping you find a right partner who can assist you to realize your opinions 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 improve their chances to achieve success. Since right now, IdeaJets is entirely free!
Conclusion plus some Final Thoughts:
As one can see, it takes lots of patience, preparation and perseverance on the part 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, competition is good and healthy. In case your competitor is having a amazing success with all the product similar to what you’ve developed, then which means that the merchandise that you are currently focusing on has great potential. Carefully examine competitor’s product and figure out its weaknesses or vulnerabilities. This, of course, presumes that you finalized your initial design, worked out all the kinks and produced a complete-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 should help you in designing marketing plan specifically tailored towards your product or service. Placed on paper and document your findings because you may forget some details afterwards and understand that the data you painfully need is gone. In general, try to incorporate your findings xqvfcq to cost, market and demographic analysis into Strategic Business Plan and store it in a safe place! A lot of companies you are going to make an effort to work or partner with will require you to produce Business Plan documentation. Without having you will force you to produce Strategic Business Plan documentation almost overnight and this may not be always easy. My suggestion to you personally – start working on the Business Strategy from the beginning and save from having sleepless nights! As well as a final word of wisdom – don’t be afraid to get over-confident, because confidence and belief in one’s own powers are a great recipe to success!