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 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 using the discussion, I might like to offer a few words of wisdom. While dealing with your idea you will encounter individuals who will criticize your work and attempt to discourage you against forging ahead. A number of the How To Patent will likely be deserved and really should be taken into account. If you notice that the valid point is raised that you simply never thought of before – the higher off you are. It provides you with 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 based upon any facts.
When you discover ways to separate those two, you may be better of. My advice to you personally –
– Don’t be afraid to question professionals, since most experts are one-track minded and oblivious with other things
– Don’t hesitate to challenge other people’s ideas, stand by your principles and be firm
– Don’t be scared to learn that the own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you are prepared to promote your idea, you should handle large corporations. Stay in mind that the bigger the company is, the better bureaucratic it is. Many big companies lose focus and quite often hire employees who are either not qualified for the task, or just not thinking about whatever they are doing. If you come across these folks who want to make you feel insignificant (and your idea unimportant and impractical) don’t get discouraged from this – then chances are you is going to be more satisfied dealing with smaller company that is more focused and willing to take risks!
Step 1 – Remain Focused and Clearly Document Your Idea
This step 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 use paper what it is that you invented – precisely define your idea, its purpose, limitations and target market. 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 individuals make at this stage 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 take advantage of the addition of extra items – a scissor and a screw driver. However, the addition of these products definitely makes the Inventhelp Caveman larger and heavier. In order to create 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 that have nothing concerning his unique design. Through taking away features from his original design, John K. makes his final design very pedestrian and it lacks in originality.
Inside the final analysis, John K. must have stopped right before making any changes to his original Automatic Knife Mechanism and asked himself these – am I happier using the original mechanism or with pedestrian mechanism which has extra features? Are definitely the additional 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. Additional features will come into play later, when you clearly described and shaped your invention.
Step Two Exploratory Stages – Determine whether your idea is exclusive
Once you’ve documented your idea, you should start considering the following – how unique is my idea? In order to respond to these questions, you will have to do some legwork and hit the local library and internet. Except if you allocated a lot of your financial budget to Patent Lawyers, that will perform the research for you personally, you may be more satisfied doing initial research alone. Why? Because you may discover during your exploratory searches that the design will not be unique and stay away from from paying Big Lawyer fees. A note of caution – don’t get discouraged in the event you determine that this idea similar to yours already exists and already patented. The reality that someone got to the similar conclusions when you, just a little bit earlier is good – you do have a competition! Levels of competition are good, competition is healthy! Carefully examine competing product, even take it apart, if necessary. Figure out what differentiates your idea from competitor’s, its limitations and how successful was someone else (or even a company) with marketing it. As 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 generate a baby product or some form of household appliance, an exclusive care needs to be taken in describing potential hazards associated by using your product. As an example, should you invented a new toy designed for young children, try to come up with the 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 product and figure out ways on how to improve product safety. The questions that you may consider 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 complete listing of parts that can be potentially hazardous and correct 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 need you to describe all Safety features of your own idea, and you might stay away from some time by doing preparations ahead of time.
Step 4 – Demographics and Determining who can Use Your Product
Ones you have a clear picture of your product and also you worked out all nuances of product design, try to determine who can make use of your product, where and when. Attempt to think about these questions –
1. Exactly what is the age bracket of audience?
2. Is my product created for Men, Women, or Both?
3. Where and when can it be used?
Correctly answering these questions will help you properly promote your product and remain up to date with the competition. Additionally, knowing answers to the above mentioned questions can help you in putting finishing touches on your own product. How? If your product is made for children, then it needs to be bright and colorful. Additionally, should your product is designed 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 those that will 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 one can see, this method needs a thorough research, planning and leg work; the benefits, 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 very important to make a working model off of your idea. Why? With a real-life model of your idea (or perhaps a scaled-down version of this), will help you –
1. Identify its limitations and provides you a chance to re-think some aspects of your initial design making necessary corrections
2. Boost your final design
As well as the previously discussed items, the last model can help you psychologically. There is no better feeling then so that you can physically see and touch the roll-out of your personal mind! Because you are touching the true-life style of one last design will give you positive psychological boost equal to no other you’ve experienced during design process, motivating you even more to be successful!
The best way to approach this step is to try and draw on a piece of paper the final version of your product, the way you view 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 photo might not really pretty because not many of us possess the necessary drawing skills. However, this drawing task can help you immensely solidify your design and pin-point items which you continue to must work on. Additionally, I strongly suggest that you generate your initial product prototype from clay or any other material that is readily accessible. Why? Because this prototype together with initial drawing will help you explain your idea to technical individual who, in turn, will transform your design into highly technical engineering drawing.
When you prepared your model, try to determine which materials should go 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 kind of alloy? When you determined the essential materials, estimate production cost since the price that you’ll charge for your product will depend on the production expense of every person unit. You don’t must be 100% correct at this point with your material selections, but it’s very good to know what materials should go into production of your product allowing you to have a ball-park figure on the final expense of your product or service.
Step 6 – Estimate Cost and Gross Profit
Once you determined who will make use of your product and where (or perhaps your product’s market), it is actually 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 such a way that it would hold both the bottles, spoons and bottle caps. Mary A. created numerous drawings of her product and with the aid of her husband managed to make a full-scale version of Inventhelp Invention News made from clay. Before involving an engineer, Mary A. estimated that her product is going to be made entirely away from plastic. The estimated production price of 1 bottle holder is $3.00 (we presume the manufacturing plant is found in China and shipping costs are already factored in to the estimated production cost). Mary A. did comparative shopping and determined that other types of Baby Holders can sell around $15 dollars. In addition, Mary found out that three local baby stores each serve 1000 shoppers per day (including online purchases); in addition, each stores needs a 40% commissions per each purchase – meaning that $6 pays as being a commission to the store for each and every $15 purchase. Mary A. immediately determined that her total profit will likely be $6 per each bottle holder ($15 – $6 – $3). Presume that one 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 marketing strategy is completely essential to the success of your idea. Partnering with marketing company which you can trust and rely upon will probably pay 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 split into two groups (I am going to call them 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, many companies that fit in with this group are charged with fraud and inventor should carefully consider who they really are coping with. In the best case scenario, you can potentially lose your money and valuable time; in worst-case scenario, as well as losing money another person may take advantage of your invention (unless, of course, you had been lucky 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 that they think are most pertinent to their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is actually a marketplace where people who have ideas and companies who search for sharp minds meet. Along with helping you get a right partner who can enable you to realize your ideas and dreams, IdeaJets also brings inventors in touch with other ambitious people 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 enhance their chances to be successful. At the time of right now, IdeaJets is totally free!
Conclusion and a few Final Thoughts:
As you can see, it requires plenty of patience, preparation and perseverance on behalf of inventor to achieve success. The main thing would be to not get discouraged by the presence of competition and potential rejections. As I mentioned inside my article, levels of competition are good and healthy. If your competitor is enjoying a great success with the product comparable to what you’ve developed, then this means that the item that you will be concentrating on has great potential. Carefully examine competitor’s product and determine its weaknesses or vulnerabilities. This, needless to say, presumes which you finalized your initial design, worked out each of the kinks and produced a full-scale (or scaled-down) version of your product. As soon as you know enough about competitor’s product, carefully study your market and demographics – this will help in designing marketing plan specifically tailored towards your products or services. Wear paper and document your findings since you may forget some details afterwards and understand that the info you painfully should get is gone. In general, attempt to incorporate your findings xqvfcq to cost, market and demographic analysis into Business Strategy and store it in a safe place! Many businesses you may try to work or partner with will require that you produce Business Plan documentation. Not having one will force you to definitely produce Business Strategy documentation almost overnight and this is not a simple task. My suggestion for you – begin working on the Business Strategy from your start 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 great recipe to success!