So, a little light bulb within you head has lit up and you are struck with the notion 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 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 dealing with your idea you will encounter those who will criticize your work and then try to discourage you against forging ahead. A number of the Invention Idea will be deserved and should be considered. If you see that a valid point is raised which you never thought of before – the higher off you are. It gives you opportunity 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.
Once you discover ways to separate these two, you may be better of. My advice to you –
– Don’t hesitate to question professionals, since the majority of experts is one-track minded and oblivious with other things
– Don’t be scared to challenge other people’s ideas, stand by your principles and stay firm
– Don’t be afraid to discover that your particular own idea is faulty. Pause, make corrections, re-analyze and move ahead
If you are ready to advertise your idea, you should handle large corporations. Keep in mind that the larger the company is, the greater 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 considering what they are doing. If you come across these folks who want to cause you to feel insignificant (along with your idea unimportant and impractical) don’t get discouraged from this – then you will likely be happier dealing with smaller company which is more focused and ready to take risks!
Step 1 – Remain Focused and Clearly Document Your Idea
This method 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 simply invented – precisely define your idea, its purpose, limitations and 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 typical error that folks make at this time has ended-complicating their idea. A quick example will clarify this point:
Case Study 1
John K. comes with 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 benefit from the addition of extra items – a scissor and a screw driver. However, the addition of these items makes the Inventions 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 make an effort to accommodate unnecessary extra features which have nothing related to his unique design. If you take 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. must have stopped right before making any changes to his original Automatic Knife Mechanism and asked himself the following – am I more satisfied with the original mechanism or with pedestrian mechanism which has additional features? Are definitely the extra features even necessary?
The aforementioned example clearly illustrates these – focus on your original idea and ignore additional, superfluous features that might muddle your vision. Extra features will come into play later, once 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 have to do some legwork and hit the local library and internet. Except if you allocated a substantial amount of your finances to Patent Lawyers, who can do the research for you, you will end up more satisfied doing initial research on your own. Why? Simply because you may discover on your exploratory searches that the design is not really unique and save from paying Big Lawyer fees. A note of caution – don’t get discouraged in the event you determine that the idea similar to yours already exists and already patented. The fact that someone arrived at the similar conclusions as you, just a little bit earlier is great – you do have a competition! Competition is good, level of competition is healthy! Carefully examine competing product, even carry 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. When you can see, you can actually learn from mistakes of others, avoid their mistakes and forge ahead fully mindful of competition and their limitations.
Step 3 – Product Safety Considerations
Whether you opted to make a baby product or some type of household appliance, a special care needs to be consumed describing potential hazards associated with the aid of your products or services. For example, if you invented a whole new toy created for small children, try to come up with a list of parts that can potentially harm your little customers. Keep in mind that numerous people, unfortunately, disregard exploitation manuals. Know what can or may fail with all the operation of the product and find 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 contains by far the most hazards should be redesigned?
Try to generate a complete set of parts that can be potentially hazardous and correct your design before you start marketing your product. You may consider 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 might save yourself some time by doing preparations in advance.
Step 4 – Demographics and Determining who can Make Use Of Your Product
Ones there is a clear picture of your own product and you worked out all nuances of product design, try to determine who will make use of your product, where and when. Attempt to ask yourself the following questions –
1. What exactly is the age bracket of audience?
2. Is my product created for Men, Women, or Both?
3. Where and once can it be applied?
Correctly answering these questions can help you properly advertise your product and stay up to date with the competition. Furthermore, knowing techniques to the above mentioned questions will help you in putting finishing touches on the product. How? If your product is made for children, then it ought to be bright and colorful. Additionally, should your product is ideal for cold climate, you need to avoid marketing it in areas where it’s hot all year long.
It is quite likely that the product is tailored for certain industry (for instance, agricultural); then think of those who will manage to benefit the best from your invention! In case your product was created to work with specific soil or crops, then you certainly should target geographical region rich with desired characteristics. As one can see, this method needs 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 Style of Your Product Or Service
It is rather important to make a working model off of your idea. Why? By having a real-life model of your idea (or a scaled-down version of it), will help you –
1. Identify its limitations and offers you the opportunity to re-think some aspects of your initial design to make necessary corrections
2. Improve your final design
As well as the previously discussed items, the ultimate model can help you psychologically. There is no better feeling then to be able to physically see and touch the development of your own mind! Because you are touching the real-life model 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 achieve success!
The simplest way to approach this task is to try and draw on a bit of paper the ultimate version of your product, how you will view it at this particular point in time. Your drawings should show one last idea/product under different angles, in a 2-D and three-D. The image might not pretty because not a lot of us hold the necessary drawing skills. However, this drawing task will help you immensely solidify your design and pin-point things that you will still have to work on. Furthermore, I strongly suggest which you generate your initial product prototype from clay or some other material that is easily available. Why? Because this prototype in addition to initial drawing will help you explain your idea to technical individual who, in turn, will transform your design into highly technical engineering drawing.
As soon as you prepared your model, try to determine what 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 form of alloy? Once you determined the essential materials, estimate production cost since the price that you’ll charge for the product will be based on the production cost of each individual unit. You don’t have to be 100% correct at this stage along with your material selections, but it’s very good to know what materials goes into creation of your product or service allowing you to have a ball-park figure on the final price of your product.
Step 6 – Estimate Cost and Gross Profit
Once you determined who can make use of product and where (or perhaps your product’s market), it really is time and energy to think “big” – try 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 designed 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 help of her husband managed to produce a full-scale version of Invent Help Invention Idea manufactured from clay. Before involving an engineer, Mary A. estimated that her product will likely be made entirely from plastic. The estimated production expense of 1 bottle holder is $3.00 (we presume that this manufacturing plant is found in China and shipping pricing is already factored in to the estimated production cost). Mary A. did comparative shopping and determined that other sorts 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); additionally, each stores needs a 40% commissions per each purchase – which means $6 pays as being a commission to the store for each $15 purchase. Mary A. immediately figured out that her total profit is going to 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 quantity of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct marketing strategy is completely important to the success of your idea. Partnering with marketing company which you can trust and depend on pays big dividends within the long run and must not be overlooked. What should you know about marketing companies? Most of these companies are split into two groups (I am going to contact them groups A and B) –
1. Group A: These companies claim they may have specific knowledge and inside connections in a broad range of industries. As well as been expensive, most companies that fit in with this group are accused of fraud and inventor should carefully consider who they are working with. Inside the best case scenario, you might potentially lose your money and time; in worst-case scenario, in addition to losing money somebody else may benefit from your invention (unless, obviously, that you were lucky 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 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 with ideas and companies who search for sharp minds meet. In addition to helping you find a right partner who can assist you to realize your thoughts 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 even 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 improve their chances to achieve success. At the time of right now, IdeaJets is totally free!
Conclusion and some Final Thoughts:
As you can see, it requires lots of patience, preparation and perseverance for inventor to succeed. The most important thing is to not get discouraged by the presence of competition and potential rejections. Because I mentioned inside my article, levels of competition are good and healthy. If your competitor is going for a positive results with all the product similar to what you’ve developed, then which means that the product that you will be focusing on has great potential. Carefully examine competitor’s product and figure out its weaknesses or vulnerabilities. This, of course, presumes which you finalized your initial design, figured out all the kinks and produced a full-scale (or scaled-down) version of your product. When you know enough about competitor’s product, carefully study your market and demographics – this will help in designing marketing plan specifically tailored towards your product or service. Wear paper and document all your findings because you may forget some details later on and realize that the information you painfully require is gone. In general, attempt to incorporate all of your findings xqvfcq to cost, market and demographic analysis into Business Plan and store it in a safe place! Many businesses you are going to try to work or partner with will need you to produce Strategic Business Plan documentation. Not having one will force you to definitely produce Strategic Business Plan documentation almost overnight and this may not be always easy. My suggestion to you personally – start working on the Strategic Business Plan through the beginning and save from having sleepless nights! And 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!