So, a little light bulb inside 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 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 encounter individuals who will criticize your work and try to discourage from forging ahead. A few of the Inventhelp Office Locations is going to be deserved and should be taken into account. If you notice that the valid point is raised that you simply never imagined of before – the higher 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 that is not based on any facts.
Whenever you learn how to separate both of these, you will end up better of. My advice for you –
– Don’t be scared to question professionals, since most experts is one-track minded and oblivious to many other things
– Don’t be afraid to challenge other people’s ideas, stand by your principles and be firm
– Don’t hesitate to find out that the own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you are able to advertise your idea, you will have to deal with large corporations. Keep in mind that the larger the company is, the better bureaucratic it is. Many big companies lose focus and frequently hire employees that are either not qualified for the job, or just not thinking about what they are doing. If you locate these people that are attempting to cause you to feel insignificant (along with your idea unimportant and impractical) don’t get discouraged by this – chances are you is going to be more satisfied dealing with smaller company which is more focused and ready to take risks!
Step 1 – Remain Focused and Clearly Document Your Idea
This task has huge benefits, because –
1. You may 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 exactly it is which you invented – precisely define your idea, its purpose, limitations and target market. If you cannot precisely define your idea, then this means that you need to take a step back, re-analyze your thinking and simplify things. The most frequent error that folks make at this time is over-complicating their idea. A quick example will clarify this point:
Case Study 1
John K. posseses 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 and a screw driver. However, adding these things makes the Patent Filing Services 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 extra features which have nothing concerning his unique design. Through taking away features from his original design, John K. makes his final design very pedestrian plus it lacks in originality.
Within the final analysis, John K. must have stopped right before creating any changes to his original Automatic Knife Mechanism and asked himself the subsequent – am I better off with the original mechanism or with pedestrian mechanism that has extra features? Are the additional features even necessary?
The above mentioned example clearly illustrates the following – give attention to your original idea and ignore additional, superfluous features that might muddle your vision. Additional features should come into play later, as soon as 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 begin taking into consideration the following – how unique is my idea? In order to answer these questions, you should do some legwork and hit the local library and internet. Except if you allocated a lot of your finances to Patent Lawyers, that will perform the research for you personally, you will be better off doing initial research by yourself. Why? Simply because you may discover on your exploratory searches that your design is not 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 truth that someone arrived at the similar conclusions when you, just a little bit earlier is great – there is a competition! Levels of competition are good, level of competition is healthy! Carefully examine competing product, even take it apart, if necessary. Determine what differentiates your idea from competitor’s, its limitations and exactly how successful was someone else (or perhaps a company) with marketing it. When 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 generate a baby product or some form of household appliance, a special care ought to be taken in describing potential hazards associated by using your products or services. As an example, if 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 numerous people, unfortunately, disregard exploitation manuals. Determine what can or may go wrong with all the operation of the product and figure out ways concerning 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 that contains probably the most hazards needs to be redesigned?
Try to create a comprehensive list of parts that can be potentially hazardous and fix 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 you to describe all Security features of your idea, and also you might save yourself some time by doing preparations beforehand.
Step 4 – Demographics and Determining that will Make Use Of Your Product
Ones you do have a clear picture of your own product and you also resolved all nuances of product design, make an effort to determine who will make use of your product, when and where. Try to think about the subsequent questions –
1. Exactly what is the age bracket of audience?
2. Is my product intended for Men, Women, or Both?
3. Where so when can it be used?
Correctly answering these questions will help you properly promote your product and stay abreast of competition. Furthermore, knowing solutions to all these questions will help you in putting finishing touches on your own product. How? Should your product is designed for children, then it should be bright and colorful. Furthermore, 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 your product is tailored for certain industry (for example, agricultural); then think of those that may benefit the best from your invention! In case your product was created to work with specific soil or crops, then you definitely should target geographical region rich with desired characteristics. As one can see, this task demands a thorough research, planning and leg work; the advantages, on the other hand, will be payoff rewarding!
Step 5 – Produce Full or Small Scale Model of Your Products Or Services
It is rather 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 from it), will help you –
1. Identify its limitations and provides you an opportunity to re-think some aspects of your initial design making necessary corrections
2. Boost your final design
In addition to the previously listed items, the final model can help you psychologically. There is absolutely no better feeling then in order to physically see and touch the roll-out of your personal mind! The fact that you are touching the actual-life style of your final design will give you positive psychological boost comparable to not one other you’ve experienced during design process, motivating you even more to succeed!
The easiest method to approach this task is to try and draw on a bit of paper the ultimate version of your product, how you see it around this point soon enough. Your drawings should show one last idea/product under different angles, in a 2-D and 3-D. The picture might not pretty because not a lot of us have the necessary drawing skills. However, this drawing task will allow you to immensely solidify your design and pin-point things that you continue to need to work on. Additionally, I strongly suggest which you generate your initial product prototype from clay or some other material which is easily available. Why? Because this prototype in addition to initial drawing will help you explain your idea to technical individual that, in turn, will transform your design into highly technical engineering drawing.
As soon as you prepared your model, try to determine which materials should go in into construction of real-life product. Will your product 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 required materials, estimate production cost because the price that you’ll charge to your product will depend on the production cost of each individual unit. You don’t must be 100% correct at this stage together with your material selections, but it’s excellent to know what materials goes into production of your product or service so that you have a ball-park figure on the final expense of your product.
Step 6 – Estimate Cost and Gross Profit
Once you determined who can make use of product and where (or your product’s market), it is time and energy to think “big” – try to work out cost/benefit analysis of your product. Below is really 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 created in a manner which it would hold both the bottles, spoons and bottle caps. Mary A. created numerous drawings of her product and through the help of her husband managed to generate a full-scale version of How To Patent An Idea Or Product made of clay. Before involving an engineer, Mary A. estimated that her product will likely 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 costs are already factored in into the estimated production cost). Mary A. did comparative shopping and determined that other sorts of Baby Holders are selling 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 demands a 40% commissions per each purchase – meaning that $6 pays as being a commission towards the store for every $15 purchase. Mary A. immediately worked out that her total profit will likely be $6 per each bottle holder ($15 – $6 – $3). Presume that one third of all the 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 marketing plan is completely necessary to the prosperity of your idea. Partnering with marketing company which you can trust and depend on will pay big dividends inside the long run and really should not be overlooked. What should 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 businesses claim they may have specific knowledge and inside connections in a broad range of industries. As well as been expensive, a lot of companies that belong to 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, as well as losing money somebody else may take advantage of your invention (unless, needless to say, you had been lucky enough to patent it!!)
2. Group B: These businesses give inventor complete freedom in marketing their idea. Inventors choose what to say and concentrate on emphasize areas that they believe are most pertinent with their invention. I would like to point out IdeaJets website (www.ideajets.com):
IdeaJets is actually a marketplace where people who have ideas and corporations who hunt for sharp minds meet. As well as helping you discover 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 them to further increase their chances to be successful. At the time of right now, IdeaJets is completely free!
Conclusion and a few Final Thoughts:
As you can see, it takes a lot of patience, preparation and perseverance on the part of inventor to be successful. The biggest thing would be to not get discouraged by the existence of competition and potential rejections. As I mentioned in my article, levels of competition are good and healthy. If your competitor is enjoying a amazing success with the product comparable to what you’ve developed, then which means that the merchandise that you are currently focusing on has great potential. Carefully examine competitor’s product and determine its weaknesses or vulnerabilities. This, of course, presumes which you finalized your initial design, resolved each of the kinks and produced a complete-scale (or scaled-down) version of your own 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. Placed on paper and document all your findings simply because you may forget some details later on and realize that the information 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! Most companies you may make an effort to work or partner with will require that you produce Business Plan documentation. Without having you will force one to produce Strategic Business Plan documentation almost overnight and this may not be an easy task. My suggestion to you personally – start working on the Business Strategy from your start and stay away from from having sleepless nights! And a final word of wisdom – don’t be scared to get over-confident, because confidence and belief in one’s own powers are a fantastic recipe to success!