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 hoping to find. 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 all the discussion, I might like to offer a few words of wisdom. While working on your idea you will come across individuals who will criticize your work and try to discourage from forging ahead. Some of the How To Start An Invention Idea will likely be deserved and should be taken into consideration. If you notice that the valid point is raised which you never imagined of before – the higher off you might be. It provides you with chance 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 upon any facts.
Whenever you figure out how to separate both of these, you will be better of. My advice for you –
– Don’t be afraid 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 afraid to discover that the own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you are ready to promote your idea, you will have to cope with large corporations. Stay 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 task, or just not interested in what they are doing. If you locate these people that want to make you feel insignificant (along with your idea unimportant and impractical) don’t get discouraged by this – then chances are you will be happier coping with smaller company which 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 are going to clearly define your idea/invention
2. While documenting your idea, you may find ways concerning how to expand your invention
Always try to put on paper what exactly it is that you simply invented – precisely define your idea, its purpose, limitations and target market. If you fail to precisely define your idea, then because of this you need to require a step back, re-analyze your thinking and simplify things. The most common error that people 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 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 Invention Marketing larger and heavier. In order to help make knife lighter, John K. goes back for the drawing board – he compromises his original, Automatic Push/Pull mechanism design in attempt to accommodate unnecessary extra features that 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 and it also 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 the following – am I happier with all the original mechanism or with pedestrian mechanism which includes extra features? Would be the extra features even necessary?
The aforementioned example clearly illustrates these – concentrate on your original idea and ignore additional, superfluous features that might muddle your vision. Extra features can come into play later, when you clearly described and shaped your invention.
Step 2 Exploratory Stages – See whether your idea is unique
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 need to carry out some legwork and hit your local library and internet. Until you allocated a large amount of your financial budget to Patent Lawyers, that will carry out the research for you personally, you may be happier doing initial research by yourself. Why? Simply because you may discover during your exploratory searches that your particular design is not really unique and save yourself from paying Big Lawyer fees. A note of caution – don’t get discouraged if you determine that the idea comparable to yours already exists and already patented. The reality that someone arrived at the similar conclusions while you, just a bit bit earlier is nice – there is a competition! Competition is good, competition is healthy! Carefully examine competing product, even take it apart, if necessary. Figure out what differentiates your idea from competitor’s, its limitations and exactly how successful was another person (or even a company) with marketing it. As 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 3 – Product Safety Considerations
Whether you opted to make a baby product or some kind of household appliance, an exclusive care needs to be consumed in describing potential hazards associated with the aid of your product or service. As an example, should you invented a brand new toy created for young children, try to come up with the list of parts that can potentially harm your little customers. Keep in mind that many people, unfortunately, disregard exploitation manuals. Know what can or may go wrong with the operation of your own product and figure out ways concerning how to improve product safety. The questions which you may consider are definitely the following –
1. Am I using proper materials?
2. Maybe the part which has the most hazards should be redesigned?
Try to generate a thorough set of parts that can be potentially hazardous and repair your design before you start out marketing your product or service. You may think of this step as unnecessary, but let me warn you – most marketing companies will need you to describe all Safety features of your own idea, and you might save yourself a while 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 figured out all nuances of product design, try to determine that will make use of your product, where and when. Make an effort to ask yourself these questions –
1. Exactly what is the age bracket of target audience?
2. Is my product created for Men, Women, or Both?
3. Where so when can it be used?
Correctly answering these questions will allow you to properly market your product and remain up to date with competition. Furthermore, knowing answers to the above mentioned questions will allow you to in putting finishing touches on your own product. How? In case your product is designed for children, then it ought to be bright and colorful. In addition, in case your product is designed for cold climate, you ought to avoid marketing it in areas where it’s hot all year long.
It is quite likely that your particular product is tailored for certain industry (for example, agricultural); then think of those that will manage to benefit the best from your invention! Should your product is designed to work with specific soil or crops, then you definitely should target geographical region rich with desired characteristics. As one can see, this task needs a thorough research, planning and leg work; the advantages, on the other hand, will likely be payoff rewarding!
Step 5 – Produce Full or Small Scale Model of Your Product
It is rather important to create a working model from your idea. Why? With a real-life model of your idea (or even a scaled-down version of it), will help you to –
1. Identify its limitations and gives you an opportunity to re-think some facets of your initial design making necessary corrections
2. Enhance your final design
In addition to the previously listed items, the final model will help you psychologically. There is not any better feeling then in order to physically see and touch the creation of your own mind! The fact that you are touching the real-life style 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 be successful!
The easiest method to approach this task is to try to draw on a piece of paper the ultimate version of the product, the way you view it around this point over time. Your drawings should show your final idea/product under different angles, in a 2-D and 3-D. The image might not really pretty because not most of us hold the necessary drawing skills. However, this drawing task will help you immensely solidify your design and pin-point items which you continue to must work on. Furthermore, I strongly recommend that you simply generate your initial product prototype from clay or some other material that is readily accessible. Why? Because this prototype along with initial drawing will help you explain your idea to technical individual who, subsequently, will transform your design into highly technical engineering drawing.
Once you prepared your model, try to find out what 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 – will it be aluminum, copper or some form of alloy? When you determined the essential materials, estimate production cost since the price that you’ll charge for your product depends on the production expense of every individual unit. You don’t must be 100% correct at this stage with your material selections, but it’s great to know what materials should go into production of your product or service so that you have a ball-park figure on the final cost of your product or service.
Step 6 – Estimate Cost and Gross Profit
As soon as you determined who can make use of your product and where (or maybe your product’s market), it really is time and energy to think “big” – attempt to work out cost/benefit analysis of the product. Below is actually 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 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 Inventhelp Caveman Commercial made of clay. Before involving an engineer, Mary A. estimated that her product will likely be made entirely out of plastic. The estimated production expense of 1 bottle holder is $3.00 (we presume that the manufacturing plant is found in China and shipping pricing is already factored in 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); additionally, each stores demands a 40% commissions per each purchase – which means $6 pays being a commission to the store for every $15 purchase. Mary A. immediately determined 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 online marketing strategy is completely necessary to the achievements of your idea. Partnering with marketing company that you simply can trust and rely upon pays big dividends in 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 will call 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 are part of this group are accused of fraud and inventor should carefully consider who they are dealing with. In the best case scenario, you might potentially lose all of your money and time; in worst-case scenario, along with losing money somebody else may reap the benefits of your invention (unless, obviously, you had been 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 might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is really a marketplace where individuals with ideas and companies who hunt for sharp minds meet. As well as helping you get a right partner who can help you realize your thoughts 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 those to further improve their chances to achieve success. 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 the part of inventor to succeed. The main thing is always to not get discouraged by the actual existence of competition and potential rejections. Because I mentioned within my article, level of competition is good and healthy. Should your competitor is going for a positive results with the product similar to what you’ve developed, then because of this the product that you are focusing on has great potential. Carefully examine competitor’s product and figure out its weaknesses or vulnerabilities. This, needless to say, presumes that you simply finalized your initial design, figured out all 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 should help you in designing marketing strategy specifically tailored towards your products or services. Put on paper and document all your findings since you may forget some details down the road and realize that the information you painfully should get is gone. In general, try to incorporate all your findings xqvfcq to cost, market and demographic analysis into Business Plan and store it in a safe place! Many businesses you may make an effort to work or partner with will need you to produce Business Plan documentation. Not having one will force you to definitely produce Business Plan documentation almost overnight and this is simply not always easy. My suggestion to you – start working on the Strategic Business Plan from your start and save yourself from having sleepless nights! And a final word of wisdom – don’t hesitate to become over-confident, because confidence and belief in one’s own powers are a great recipe to success!