So, a little light bulb inside you head has lit up and you are struck with the idea 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 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 using the discussion, I might like to provide a few words of wisdom. While caring for your idea you will come across people who will criticize your work and attempt to discourage you against forging ahead. A number of the Ideas For Inventions is going to be deserved and really should be taken into consideration. If you see that a valid point is raised that you never imagined of before – the higher off you are. It offers 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.
Whenever you learn how to separate both of these, you may be better of. My advice to you –
– Don’t be scared to question professionals, because most experts are certainly one-track minded and oblivious to other things
– Don’t be scared to challenge other people’s ideas, stand by your principles and stay firm
– Don’t be afraid to find out that the 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 handle large corporations. Keep 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 for the job, or just not interested in the things they are performing. If you discover these people that are trying to help you feel insignificant (as well as your idea unimportant and impractical) don’t get discouraged with this – then chances are you is going to be more satisfied working with smaller company which is more focused and willing 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 wear 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 ought to have a step back, re-analyze your thinking and simplify things. The most frequent error that people make at this time is finished-complicating their idea. A fast example will clarify this point:
Case Study 1
John K. comes with 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 benefit from the addition of extra items – a scissor along with a screw driver. However, incorporating these things makes the Idea Help 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 make an effort to accommodate unnecessary additional features who have nothing to do with 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.
Within the final analysis, John K. must have stopped right before creating any changes to his original Automatic Knife Mechanism and asked himself the following – am I better off with the original mechanism or with pedestrian mechanism which includes extra features? Are definitely the additional 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, once 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 considering the following – how unique is my idea? In order to answer these questions, you will need to do some legwork and hit your neighborhood library and internet. Unless you allocated a lot of your financial budget to Patent Lawyers, who will do the research for you, you may be more satisfied doing initial research alone. Why? Because you may discover throughout 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 if you determine that this idea much like yours already exists and already patented. The reality that someone arrived at the similar conclusions when you, just a little bit earlier is great – there is a competition! Level of competition is good, level of competition is healthy! Carefully examine competing product, even carry it apart, if required. Determine what differentiates your idea from competitor’s, its limitations and how successful was someone else (or even 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 along with their limitations.
Step Three – Product Safety Considerations
Whether you decided to make a baby product or some kind of household appliance, a special care needs to be consumed in describing potential hazards associated by using your product. For instance, in the event you invented a whole new toy designed for small children, try to come up with a list of parts that can potentially harm your little customers. Stay in mind that numerous people, unfortunately, disregard exploitation manuals. Figure out what can or may fail using the operation of your product and find out ways regarding how to improve product safety. The questions which you may think about are the following –
1. Am I using proper materials?
2. Maybe the part which has probably the most hazards ought to be redesigned?
Try to generate a complete set of parts that can be potentially hazardous and repair your design before you start marketing your product. You may think of this step as unnecessary, but let me warn you – most marketing companies will need you to describe all Safety measures of the idea, and you might save yourself a while by doing preparations ahead of time.
Step 4 – Demographics and Determining who can Make Use Of Your Product
Ones you have a clear picture of your product and you figured out all nuances of product design, attempt to determine that will make use of your product, when and where. Attempt to ask yourself the subsequent questions –
1. Exactly what is the age bracket of target audience?
2. Is my product intended for Men, Women, or Both?
3. Where and when can it be applied?
Correctly answering these questions can help you properly market your product and remain up to date with your competition. In addition, knowing solutions to all these questions can help you in putting finishing touches on your own product. How? If your product is ideal for children, then it needs to be bright and colorful. Furthermore, in case your product is ideal for cold climate, you ought to avoid marketing it in locations where it’s hot all year long.
It is very likely that your item is tailored for certain industry (as an example, agricultural); then think of people who will manage to benefit the best from your invention! Should your product is made to work with specific soil or crops, then you should target geographical region rich with desired characteristics. As you can see, this method demands a thorough research, planning and leg work; the benefits, on the other hand, will likely be payoff rewarding!
Step 5 – Produce Full or Small Scale Type of Your Product
It is extremely important to produce a working model from your idea. Why? By having a real-life model of your idea (or a scaled-down version from it), will assist you to –
1. Identify its limitations and offers you a chance to re-think some elements of your initial design to make necessary corrections
2. Enhance your final design
In addition to the above mentioned items, the final model will allow you to psychologically. There is not any better feeling then to be able to physically see and touch the development of your very own mind! Because you are touching the real-life style 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 be successful!
The best way to approach this task is to try and draw on some paper the final version of the product, how you will see it around this point soon enough. Your drawings should show your final idea/product under different angles, in a 2-D and 3-D. The picture might not be pretty because not many of us possess the necessary drawing skills. However, this drawing task will help you immensely solidify your design and pin-point items which you still need to work on. Additionally, I strongly suggest that you simply generate your initial product prototype from clay or any other material that is certainly readily accessible. Why? Since this prototype in addition to initial drawing can help you explain your idea to technical person who, subsequently, will transform your design into highly technical engineering drawing.
As soon as 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 – will it be aluminum, copper or some kind of alloy? When you determined the necessary materials, estimate production cost because the price that you’ll charge for your product will be based on the production price of every individual unit. You don’t need to be 100% correct at this time along with your material selections, but it’s excellent to know what materials goes into manufacture of your product or service so that you have a ball-park figure on the final price of your product or service.
Step 6 – Estimate Cost and Gross Profit
When you determined who can use your 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 own 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 made in such a way 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 Inventhelp Corporate Headquarters made from clay. Before involving an engineer, Mary A. estimated that her product will be made entirely out of plastic. The estimated production cost of 1 bottle holder is $3.00 (we presume the manufacturing plant is situated in China and shipping expenses are already factored in in to the estimated production cost). Mary A. did comparative shopping and determined that other types 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); furthermore, each stores demands a 40% commissions per each purchase – which means $6 is paid being a commission to the store for every $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 a person 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 quantity of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct marketing strategy is totally important to the prosperity of your idea. Partnering with marketing company which you can trust and depend on will pay big dividends in the long run and should not be overlooked. What should you know about marketing companies? Most of these companies are divided into two groups (I am going to give them a call groups A and B) –
1. Group A: These firms claim they have specific knowledge and inside connections in a broad range of industries. As well as been expensive, many 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 valuable time; in worst-case scenario, along with losing money somebody else may reap the benefits of your invention (unless, obviously, that you were fortunate enough to patent it!!)
2. Group B: These companies give inventor complete freedom in marketing their idea. Inventors choose what to say and focus on emphasize areas they believe are most pertinent to their invention. I would personally like to point out IdeaJets website (www.ideajets.com):
IdeaJets is a marketplace where individuals with ideas and firms who look for sharp minds meet. Along with helping you find a right partner who can help you realize your thoughts 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 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 succeed. As of right now, IdeaJets is totally free!
Conclusion and some Final Thoughts:
As you can see, it will take lots of patience, preparation and perseverance on behalf of inventor to succeed. The main thing is always to not get discouraged by the existence of competition and potential rejections. As I mentioned in my article, competition is 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 item that you are focusing 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, figured out all of the kinks and produced an entire-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 in designing online marketing strategy specifically tailored towards your products or services. Wear paper and document all of your findings because you may forget some details down the road and recognize that the information you painfully require 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! A lot of companies you may make an effort to work or partner with will need you to produce Business Plan documentation. Without having you might force one to produce Business Strategy documentation almost overnight and this is not a simple task. My suggestion to you – begin working on the Business Plan from your beginning and save yourself from having sleepless nights! Along with a final word of wisdom – don’t hesitate to get over-confident, because confidence and belief in one’s own powers are a great recipe to success!