So, a little light bulb within 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 hoping to find. 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 using the discussion, I might 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 you from forging ahead. Some of the How Do I Get A Patent will likely be deserved and must be considered. If you notice which a valid point is raised that you simply never thought of before – the better off you happen to be. It gives you possibility 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 on any facts.
When you learn how to separate these two, you may be better of. My advice to you –
– Don’t be scared to question professionals, since most experts are one-track minded and oblivious to other things
– Don’t hesitate to challenge other people’s ideas, stand by your principles and be firm
– Don’t be scared to discover that your own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you find yourself ready to advertise your idea, you should deal with large corporations. Keep in mind that the larger the company is, the better 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 doing. If you discover these people that are trying to cause you to feel insignificant (and your idea unimportant and impractical) don’t get discouraged with this – then chances are you will likely be happier working with smaller company that is more focused and ready to take risks!
Step One – Remain Focused and Clearly Document Your Idea
This method has huge benefits, because –
1. You may clearly define your idea/invention
2. While documenting your idea, you may find ways regarding how to expand your invention
Always try to put on 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 have 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 simple example will clarify this point:
Case Study 1
John K. has an idea regarding 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 along with a screw driver. However, the addition of these products definitely makes the Inventhelp Office 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 attempt to accommodate unnecessary additional features which have nothing to do with his unique design. Through taking away features from his original design, John K. makes his final design very pedestrian plus it lacks in originality.
In the final analysis, John K. needs to have stopped right before creating any changes to his original Automatic Knife Mechanism and asked himself these – am I happier with the original mechanism or with pedestrian mechanism which includes extra features? Are the additional features even necessary?
The above example clearly illustrates these – concentrate on your original idea and ignore additional, superfluous features that might muddle your vision. Extra features should come into play later, once you clearly described and shaped your invention.
Step Two Exploratory Stages – Determine if your idea is exclusive
Once you’ve documented your idea, you can start thinking about the following – how unique is my idea? In order to answer these questions, you should perform some legwork and hit your neighborhood library and internet. Unless you allocated a substantial amount of your budget to Patent Lawyers, who will perform the research for you personally, you will be better off doing initial research on your own. Why? Since you may discover on your exploratory searches that your particular design will not be unique and stay away from from paying Big Lawyer fees. A note of caution – don’t get discouraged should you determine that the idea comparable to yours already exists and already patented. The truth that someone arrived at the similar conclusions as you, just a little bit earlier is nice – there is a competition! Competition is good, levels of competition are healthy! Carefully examine competing product, even bring it apart, if necessary. Know what differentiates your idea from competitor’s, its limitations and how successful was another individual (or perhaps 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 as well as their limitations.
Step Three – Product Safety Considerations
Whether you decided to make a baby product or some form of household appliance, an exclusive care ought to be taken 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 create 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 using the operation of your own product and determine ways on how to improve product safety. The questions that you may consider would be the following –
1. Am I using proper materials?
2. Maybe the part which contains the most hazards should 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. You may think of this step as unnecessary, but let me warn you – most marketing companies will require that you describe all Security features of your idea, and you also might save yourself some time by doing preparations ahead of time.
Step 4 – Demographics and Determining that will Make Use Of Your Product
Ones you have a clear picture of your own product and also you worked out all nuances of product design, make an effort to determine who will use your product, when and where. Attempt to ask yourself the subsequent questions –
1. What exactly is the age bracket of target market?
2. Is my product designed for Men, Women, or Both?
3. Where and when can it be utilized?
Correctly answering these questions will help you properly advertise your product and stay up to date with competition. Furthermore, knowing solutions to all these questions will help you in putting finishing touches on the product. How? Should your product is made for children, then it should be bright and colorful. Furthermore, should your product is made for cold climate, you ought to avoid marketing it in locations where it’s hot all year long.
It is extremely likely that the item is tailored for certain industry (as an example, agricultural); then think of those that will benefit the best from your invention! In case your product is designed to work with specific soil or crops, then you definitely should target geographical region rich with desired characteristics. As you can see, this task demands a thorough research, planning and leg work; the rewards, on the other hand, will be payoff rewarding!
Step 5 – Produce Full or Small Scale Model of Your Product Or Service
It is extremely important to create a working model away from your idea. Why? By having a real-life model of your idea (or even a scaled-down version of this), will help you –
1. Identify its limitations and gives you the opportunity to re-think some elements of your initial design making necessary corrections
2. Improve your final design
In addition to the above mentioned items, the final model will help you psychologically. There is not any better feeling then so that you can physically see and touch the development of your very own mind! The fact that you are touching the true-life model of your final design will give you positive psychological boost similar to not one other you’ve experienced during design process, motivating you even more to succeed!
The best way to approach this task is to try to draw on a bit of paper the last version of the product, how you see 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 really pretty because not many of us have the necessary drawing skills. However, this drawing task will help you immensely solidify your design and pin-point items that you still need to work on. In addition, I strongly suggest that you simply 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 who, consequently, will transform your design into highly technical engineering drawing.
As soon as you prepared your model, try to determine what materials will go 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 form of alloy? As soon as you determined the essential materials, estimate production cost because the price that you’ll charge for your product will depend on the production expense of every person unit. You don’t have to be 100% correct at this point along with your material selections, but it’s very good to know what materials will go into production of your product so that you have a ball-park figure on the final price of your products or services.
Step 6 – Estimate Cost and Gross Profit
When you determined that will make use of product and where (or your product’s market), it is time for you 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, created a plastic bottle holder for babies and small toddlers. Her bottle holder was made in a way that 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 Prototype Inventhelp manufactured from clay. Before involving an engineer, Mary A. estimated that her product will be made entirely away from plastic. The estimated production price of 1 bottle holder is $3.00 (we presume that this manufacturing plant is located 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 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 that $6 is paid as a commission towards the store for each $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 amount of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct online marketing strategy is absolutely necessary to the success of your idea. Partnering with marketing company that you can trust and rely upon will pay big dividends in the long run and should not be overlooked. What in the event you know about marketing companies? Most of these companies are separated into two groups (I will call them groups A and B) –
1. Group A: These companies claim they have specific knowledge and inside connections in a broad range of industries. Along with been expensive, many companies that belong to this group are accused of fraud and inventor should carefully consider who they really are coping with. Within the best case scenario, you might potentially lose all your money and time; in worst-case scenario, in addition to losing money somebody else may benefit from your invention (unless, obviously, you had been fortunate enough to patent it!!)
2. Group B: These businesses give inventor complete freedom in marketing their idea. Inventors choose things to say and focus on emphasize areas which they believe are most pertinent to their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is a marketplace where people who have ideas and corporations who hunt for sharp minds meet. In addition to helping you find a right partner who can help you 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 even 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 be successful. As of right now, IdeaJets is completely free!
Conclusion and a few Final Thoughts:
As you can see, it requires lots of patience, preparation and perseverance on behalf of inventor to be successful. The main thing is always to not get discouraged by the existence of competition and potential rejections. When I mentioned in 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 because of this the merchandise that you will be concentrating on has great potential. Carefully examine competitor’s product and find out its weaknesses or vulnerabilities. This, of course, 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 you in designing marketing strategy specifically tailored towards your product or service. Put on paper and document all of your findings simply because you may forget some details later on and understand that the info you painfully need 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 will attempt to work or partner with will require that you produce Business Strategy documentation. Lacking you might force you to definitely produce Business Plan documentation almost overnight and this may not be an easy task. My suggestion to you – start working on the Business Plan from the beginning and save from having sleepless nights! As well as a final word of wisdom – don’t be scared to become over-confident, because confidence and belief in one’s own powers are a great recipe to success!