So, a little light bulb inside you head has lit up and you are struck with the notion that you invented something. You are unsure 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 extremely 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 the discussion, I might like to offer a few words of wisdom. While working on your idea you will come across individuals who will criticize your work and attempt to discourage from forging ahead. Some of the Inventhelp Inventions will likely be deserved and should be taken into account. If you see which a valid point is raised which you never imagined of before – the greater off you are. It gives you chance to pause 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.
Whenever you figure out how to separate these two, you will end up better of. My advice for you –
– Don’t hesitate to question professionals, since the majority of experts are one-track minded and oblivious with other things
– Don’t hesitate to challenge other people’s ideas, uphold your principles and become firm
– Don’t hesitate to discover that your own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you are prepared to market your idea, you will have to cope with large corporations. Keep in mind that the bigger the company is, the better bureaucratic it is actually. Many big companies lose focus and frequently hire employees who are either not qualified for the job, or just not considering the things they are going to do. If you come across these people that are trying to make you feel insignificant (as well as your idea unimportant and impractical) don’t get discouraged with this – then you will be more satisfied working with smaller company that is certainly more focused and prepared to take risks!
Step 1 – 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 on how to expand your invention
Always try to put on paper what exactly it is which 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 require a step back, re-analyze your thinking and simplify things. The most common error that individuals make at this point is over-complicating their idea. A simple 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 gain benefit from the addition of extra items – a scissor along with a screw driver. However, adding these items definitely makes the Inventhelp Technology larger and heavier. In order to make knife lighter, John K. goes back towards the drawing board – he compromises his original, Automatic Push/Pull mechanism design in make an effort to accommodate unnecessary additional features that have nothing to do with his unique design. Through 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 making any changes to his original Automatic Knife Mechanism and asked himself the following – am I more satisfied 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 – give attention to 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 Two Exploratory Stages – Determine whether your idea is different
Once you’ve documented your idea, you should start thinking about the following – how unique is my idea? In order to reply to these questions, you should do some legwork and hit your local library and internet. Except if you allocated a large amount of your financial budget to Patent Lawyers, who will carry out the research to suit your needs, you will be more satisfied doing initial research by yourself. Why? Since you may discover on your exploratory searches that your 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 the idea much like yours already exists and already patented. The fact that someone came to the similar conclusions when you, just a bit bit earlier is nice – there is a competition! Competition is good, competition is healthy! Carefully examine competing product, even bring it apart, if required. Determine what differentiates your idea from competitor’s, its limitations and just how successful was someone else (or perhaps 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 as well as their limitations.
Step 3 – Product Safety Considerations
Whether you opted to generate a baby product or some type of household appliance, an exclusive care needs to be consumed describing potential hazards associated with the aid of your product. As an example, if you invented a brand new toy created for small children, try to create this 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 wrong using the operation of your own product and figure out ways regarding how to improve product safety. The questions which you may ask yourself are the following –
1. Am I using proper materials?
2. Maybe the part which has probably the most hazards needs to be redesigned?
Try to come up with a thorough listing of parts that can be potentially hazardous and correct your design before you begin marketing your product. You may consider this step as unnecessary, but let me warn you – most marketing companies will require you to describe all Security features of your own idea, and you might stay away from some time by doing preparations beforehand.
Step 4 – Demographics and Determining who will Make Use Of Product
Ones there is a clear picture of your product and you figured out all nuances of product design, try to determine that will make use of your product, where and when. Try to consider the subsequent questions –
1. Exactly what is the age bracket of target market?
2. Is my product intended for Men, Women, or Both?
3. Where and when can it be applied?
Correctly answering these questions will allow you to properly advertise your product and remain abreast of competition. In addition, knowing techniques to the aforementioned questions will help you in putting finishing touches on your product. How? In case your product is made for children, then it needs to be bright and colorful. Furthermore, if your product is made for cold climate, you ought to avoid marketing it in places that it’s hot all year long.
It is very likely that your product is tailored for certain industry (for instance, agricultural); then think of people who 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 one can see, this step demands a thorough research, planning and leg work; the advantages, on the other hand, will likely be payoff rewarding!
Step 5 – Produce Full or Small Scale Type of Your Products Or Services
It is rather important to make a working model from your idea. Why? By having a real-life style of your idea (or perhaps a scaled-down version of this), will help you to –
1. Identify its limitations and provides you the opportunity to re-think some elements of your initial design to make necessary corrections
2. Boost your final design
In addition to the above mentioned items, the final model will help you psychologically. There is absolutely no better feeling then to be able to physically see and touch the roll-out of your very own mind! Because you are touching the true-life model of your final design provides you with positive psychological boost similar to hardly any other you’ve experienced during design process, motivating you even more to achieve success!
The best way to approach this task is to try and draw on a piece of paper the final version of the product, how you will look at it at this particular point in time. Your drawings should show your final idea/product under different angles, in a 2-D and 3-D. The photo might not be 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 items which you still must work on. Additionally, I strongly suggest that you simply generate your initial product prototype from clay or any other material which is readily accessible. Why? Since this prototype along with initial drawing will allow you to explain your idea to technical person who, subsequently, will transform your design into highly technical engineering drawing.
Once you prepared your model, try to determine which materials goes in into construction of real-life product. Will your product be build of plaster or metal? If metal, then what kind of metal – could it be aluminum, copper or some kind of alloy? Once you determined the necessary materials, estimate production cost as the price that you’ll charge for your product will be based on the production cost of each individual unit. You don’t must be 100% correct at this time with your material selections, but it’s great to know what materials goes into creation of your products or services so that you have a ball-park figure on the final price of your product or service.
Step 6 – Estimate Cost and Gross Profit
Once you determined that will make use of your product and where (or maybe your product’s market), it is time to think “big” – make an effort to work out cost/benefit analysis of your own 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 which 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 produce a full-scale version of Ideas For Inventions made of clay. Before involving an engineer, Mary A. estimated that her product is going to be made entirely away from plastic. The estimated production cost of 1 bottle holder is $3.00 (we presume that this manufacturing plant is situated in China and shipping pricing is already factored in into the estimated production cost). Mary A. did comparative shopping and determined that other types 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 – which means $6 pays as a commission for the store for each $15 purchase. Mary A. immediately worked out that her total profit will be $6 per each bottle holder ($15 – $6 – $3). Presume that one third of 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 plan is absolutely necessary to the prosperity of your idea. Partnering with marketing company that you can trust and depend on will probably pay big dividends in the long run and really should not be overlooked. What in the event you know about marketing companies? The majority of these companies are divided into two groups (I am going to call them groups A and B) –
1. Group A: These firms claim they have specific knowledge and inside connections in a broad range of industries. Along with been expensive, a lot of companies that belong to this group are charged with fraud and inventor should carefully consider who they are coping with. In the best case scenario, you could potentially lose your money and valuable time; in worst-case scenario, in addition to losing money another person 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 things to say and concentrate on emphasize areas which they think are most pertinent for their invention. I would like to point out IdeaJets website (www.ideajets.com):
IdeaJets is a marketplace where people with ideas and companies who search for sharp minds meet. As well as helping you get a right partner who can help you realize your opinions 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 perhaps 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 achieve success. Since right now, IdeaJets is completely free!
Conclusion and some Final Thoughts:
As one can see, it takes plenty of patience, preparation and perseverance for inventor to succeed. The most important thing is always to not get discouraged by the actual existence of competition and potential rejections. Because I mentioned in my article, level of competition is good and healthy. If your competitor is going for a amazing success with the product similar to what you’ve developed, then because of this the item that you are currently working on has great potential. Carefully examine competitor’s product and find out its weaknesses or vulnerabilities. This, of course, presumes that 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 should help you in designing online marketing strategy specifically tailored towards your product. Placed on paper and document all your findings because you may forget some details afterwards and realize that the information you painfully need is gone. In general, try to incorporate all of your findings xqvfcq to cost, market and demographic analysis into Strategic Business Plan and store it in a safe place! Many businesses you are going to attempt to work or partner with will need you to produce Business Strategy documentation. Lacking you will force you to definitely produce Strategic Business Plan documentation almost overnight and this may not be a simple task. My suggestion to you personally – begin working on the Business Strategy from your beginning and save from having sleepless nights! Along with 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!