So, a little light bulb inside you head has lit up and you are struck with the idea 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 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 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 working on your idea you will come across people who will criticize your work and attempt to discourage you against forging ahead. Some of the Ideas Inventions is going to be deserved and really should be taken into account. If you see that a valid point is raised that you simply never imagined of before – the greater off you are. It offers 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 certainly not based upon any facts.
Once you learn how to separate those two, you will be better of. My advice to you –
– Don’t be scared to question professionals, since the majority of experts are certainly one-track minded and oblivious to many other things
– Don’t hesitate to challenge other people’s ideas, uphold your principles and stay firm
– Don’t hesitate 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 will have to deal with large corporations. Stay in mind that the bigger the company is, the more bureaucratic it really is. Many big companies lose focus and often hire employees that are either not qualified to do the job, or just not considering whatever they are doing. If you discover these people that are trying to cause you to feel insignificant (along with your idea unimportant and impractical) don’t get discouraged with this – chances are you will likely be more satisfied dealing with smaller company that is more focused and prepared to take risks!
Step One – 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 regarding 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 target audience. If you fail to precisely define your idea, then which means that you need to have a step back, re-analyze your thinking and simplify things. The most typical error that folks make at this point is over-complicating their idea. A simple example will clarify this point:
Case Study 1
John K. posseses 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 gain benefit from the addition of extra items – a scissor and a screw driver. However, adding these things helps make the Inventhelp Wiki 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 try to accommodate unnecessary additional features who have nothing concerning his unique design. If you take away features from his original design, John K. makes his final design very pedestrian plus it lacks in originality.
Inside the final analysis, John K. needs to have stopped right before making any changes to his original Automatic Knife Mechanism and asked himself these – am I more satisfied with the original mechanism or with pedestrian mechanism which includes additional features? Would be 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, 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 should start considering the following – how unique is my idea? In order to respond to these questions, you will need to do some legwork and hit your local library and internet. Except if you allocated a substantial amount of your finances to Patent Lawyers, that will do the research for you personally, you may be better off doing initial research on your own. Why? Since you may discover during your exploratory searches that the design is not unique and stay away from from paying Big Lawyer fees. A note of caution – don’t get discouraged if you determine the idea similar to yours already exists and already patented. The fact that someone arrived at the similar conclusions when you, just a bit bit earlier is nice – you do have a competition! Levels of competition are good, levels of competition are healthy! Carefully examine competing product, even carry it apart, if needed. Determine what differentiates your idea from competitor’s, its limitations and just how successful was another individual (or a company) with marketing it. While you can see, you can actually gain knowledge from mistakes of others, avoid their mistakes and forge ahead fully aware of competition and their limitations.
Step Three – Product Safety Considerations
Whether you decided to produce a baby product or some form of household appliance, an exclusive care ought to be consumed describing potential hazards associated by using your product or service. As an example, in the event you invented a whole new toy intended for young children, try to create a list of parts that can potentially harm your little customers. Stay in mind that many people, unfortunately, disregard exploitation manuals. Figure out what can or may fail with all the operation of the product and figure out ways on how to improve product safety. The questions that you simply may think about are the following –
1. Am I using proper materials?
2. Maybe the part that contains the most hazards ought to be redesigned?
Try to create a complete set of parts that can be potentially hazardous and repair your design before you start out marketing your products or services. You may consider this step as unnecessary, but let me warn you – most marketing companies will require that you describe all Safety measures of the idea, and you also might stay away from a while by doing preparations ahead of time.
Step 4 – Demographics and Determining who can Make Use Of Product
Ones you have a clear picture of the product and you resolved all nuances of product design, try to determine that will use your product, where and when. Try to consider the subsequent questions –
1. What is the age bracket of target audience?
2. Is my product intended for Men, Women, or Both?
3. Where and once can it be utilized?
Correctly answering these questions will allow you to properly promote your product and stay up to date with your competition. In addition, knowing answers to all these questions can help you in putting finishing touches on the product. How? Should your product is ideal for children, then it should be bright and colorful. Additionally, should 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 item is tailored for certain industry (as an example, agricultural); then think of those that will manage to benefit the best from your invention! In case your product is designed 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 benefits, on the other hand, is going to be payoff rewarding!
Step 5 – Produce Full or Small Scale Style of Your Products Or Services
It is extremely important to create a working model off of your idea. Why? With a real-life type of your idea (or a scaled-down version from it), will help you –
1. Identify its limitations and gives you the opportunity to re-think some aspects of your initial design making necessary corrections
2. Boost your final design
In addition to the above mentioned items, the ultimate model will help you psychologically. There is no better feeling then in order to physically see and touch the creation of your own mind! Because you are touching the true-life model of your final design will provide you with positive psychological boost similar to not one other you’ve experienced during design process, motivating you even more to be successful!
The easiest method to approach this task is to try and draw on some paper the ultimate version of your own product, how you view 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 image might not pretty because not many of us possess the necessary drawing skills. However, this drawing task will allow you to immensely solidify your design and pin-point items that you continue to need to work on. Additionally, I strongly suggest that you generate your initial product prototype from clay or some other material which is easily available. Why? As this prototype in addition to initial drawing can help you explain your idea to technical individual that, subsequently, will transform your design into highly technical engineering drawing.
When you prepared your model, try to determine which materials goes 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 – is it aluminum, copper or some kind of alloy? As soon as you determined the necessary materials, estimate production cost because the price that you’ll charge to your product will depend on the production cost of every individual unit. You don’t must be 100% correct at this time with your material selections, but it’s excellent to know what materials should go into manufacture 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
As soon as you determined who will use your product and where (or maybe your product’s market), it is actually time and energy to think “big” – attempt 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 designed in a way that it would hold 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 Inventions manufactured 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 that this manufacturing plant is located 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 are selling 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 needs a 40% commissions per each purchase – which means that $6 pays as a commission towards the store for each $15 purchase. Mary A. immediately worked out that her total profit is going to be $6 per each bottle holder ($15 – $6 – $3). Presume that certain 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 online marketing strategy is absolutely essential to the prosperity of your idea. Partnering with marketing company that you can trust and rely upon will probably pay big dividends within the long run and should not be overlooked. What should you know about marketing companies? The majority of these companies are split into two groups (I am going to 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. As well as been expensive, a lot of companies that fit in with this group are accused of fraud and inventor should carefully consider who they are dealing with. In the best case scenario, you could potentially lose your money and valuable time; in worst-case scenario, in addition to losing money someone else may benefit from your invention (unless, obviously, 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 believe are most pertinent to their invention. I would 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. As well as helping you find a right partner who can help you realize your ideas and dreams, IdeaJets also brings inventors in contact 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 in Forums. Hopefully, by sharing ideas and opinions, users might view their inventions or ideas in a new light, refine and re-define them to further enhance their chances to achieve success. As of right now, IdeaJets is completely free!
Conclusion and some Final Thoughts:
As one can see, it requires lots of patience, preparation and perseverance on behalf of inventor to be successful. The biggest thing is to not get discouraged by the existence of competition and potential rejections. As I mentioned inside my article, levels of competition are good and healthy. Should your competitor is going for a amazing success with all the product comparable to what you’ve developed, then because of this the merchandise that you are currently working on has great potential. Carefully examine competitor’s product and determine its weaknesses or vulnerabilities. This, needless to say, presumes that you finalized your initial design, worked out all the kinks and produced a full-scale (or scaled-down) version of your own product. When you know enough about competitor’s product, carefully study your market and demographics – this will help you in designing online marketing strategy specifically tailored towards your products or services. Wear paper and document all your findings since you may forget some details down the road and realize that the data 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 Strategy and store it in a safe place! A lot of companies you are going to attempt to work or partner with will require you to produce Business Plan documentation. Lacking you might force you to produce Business Plan documentation almost overnight and this is not a simple task. My suggestion to you – start working on the Strategic Business Plan from the very beginning and save yourself from having sleepless nights! As well as a final word of wisdom – don’t hesitate to be over-confident, because confidence and belief in one’s own powers are a fantastic recipe to success!