So, a little light bulb within you head has lit up and you are struck with the notion 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 hoping to find. What you do next and how you approach your next steps is very 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 all the discussion, I would like to provide a few words of wisdom. While working on your idea you will come across those who will criticize your work and attempt to discourage you from forging ahead. A number of the Invent Help Patent Information will be deserved and must be taken into consideration. When you see which a valid point is raised that you simply never thought of before – the greater off you might be. It offers you opportunity to pause 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 those two, you may be better of. My advice for you –
– Don’t be scared to question professionals, because most experts are one-track minded and oblivious with other things
– Don’t be afraid to challenge other people’s ideas, uphold your principles and become firm
– Don’t be scared to find out that your own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you find yourself ready to promote your idea, you should handle large corporations. Keep in mind that the larger the company is, the better 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 interested in the things they are doing. If you come across these people that are attempting to make you feel insignificant (and your idea unimportant and impractical) don’t get discouraged by this – then you is going to be better off dealing with smaller company which is more focused and willing to take risks!
Step One – Stay Focused and Clearly Document Your Idea
This task 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 invented – precisely define your idea, its purpose, limitations and audience. If you fail to precisely define your idea, then because of this you need to take a step back, re-analyze your thinking and simplify things. The most frequent error that folks make at this point is over-complicating their idea. A fast 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 benefit from the addition of extra items – a scissor along with a screw driver. However, adding these products helps make the Patenting An Idea 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 to do with his unique design. By taking away features from his original design, John K. makes his final design very pedestrian and it also lacks in originality.
Within the final analysis, John K. should have stopped right before making any changes to his original Automatic Knife Mechanism and asked himself these – am I happier using the original mechanism or with pedestrian mechanism that has extra features? Would be the extra features even necessary?
The above mentioned example clearly illustrates the following – focus on your original idea and ignore additional, superfluous features that might muddle your vision. Extra features should come into play later, when you clearly described and shaped your invention.
Step 2 Exploratory Stages – See whether your idea is exclusive
Once you’ve documented your idea, you should begin thinking about the following – how unique is my idea? In order to answer these questions, you will have to do some legwork and hit your neighborhood library and internet. Unless you allocated a substantial amount of your financial budget to Patent Lawyers, who will perform the research for you personally, you will end up more satisfied doing initial research alone. Why? Because you may discover on your exploratory searches that your design will not be 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 reality that someone got to the similar conclusions while you, just a little bit earlier is great – there is a competition! Level of competition is good, competition is healthy! Carefully examine competing product, even carry it apart, if needed. Figure out what differentiates your idea from competitor’s, its limitations and exactly how successful was another person (or perhaps a company) with marketing it. When you can see, you can actually gain knowledge from mistakes of others, avoid their mistakes and forge ahead fully mindful of competition along with their limitations.
Step 3 – Product Safety Considerations
Whether you decided to generate a baby product or some form of household appliance, an exclusive care needs to be taken in describing potential hazards associated with the use of your product or service. As an example, should you invented a new toy designed for young children, try to generate this list of parts that can potentially harm your little customers. Stay in mind that lots of people, unfortunately, disregard exploitation manuals. Know what can or may fail using the operation of your own product and figure out ways on how to improve product safety. The questions that you simply may think about would be 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 thorough listing of parts that can be potentially hazardous and fix 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 require you to describe all Security features of the idea, and you might save a bit of time by doing preparations in advance.
Step 4 – Demographics and Determining who will Make Use Of Product
Ones you do have a clear picture of your own product and you resolved all nuances of product design, attempt to determine that will make use of product, where and when. Make an effort to think about these questions –
1. Exactly what is the age bracket of target 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 market your product and stay abreast of competition. In addition, knowing solutions to the aforementioned questions will allow you to in putting finishing touches on the product. How? If your product is made for children, then it should be bright and colorful. In addition, if your product is designed for cold climate, you ought to avoid marketing it in places that it’s hot all year long.
It is very likely that the product is tailored for certain industry (for example, agricultural); then think of those that will benefit the best from your invention! Should your product is made to work with specific soil or crops, then you certainly should target geographical region rich with desired characteristics. As one can see, this step demands 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 Model of Your Product
It is extremely important to produce a working model from your idea. Why? With a real-life type of your idea (or perhaps a scaled-down version of this), will assist you to –
1. Identify its limitations and offers you a chance to re-think some aspects of your initial design and make necessary corrections
2. Enhance your final design
As well as the above mentioned items, the last model can help you psychologically. There is absolutely no better feeling then so that you can physically see and touch the development of your own mind! Because you are touching the real-life model of one last design will give you positive psychological boost equal to hardly any other you’ve experienced during design process, motivating you even more to achieve success!
The best way to approach this method is to attempt to draw on some paper the last version of your own product, the way you view it around this point soon enough. Your drawings should show one last idea/product under different angles, in a 2-D and three-D. The picture might not really 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 have to work on. Additionally, I strongly suggest which you generate your initial product prototype from clay or any other material that is certainly easily available. Why? Because this prototype along with initial drawing can help you explain your idea to technical individual that, consequently, 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 or service be build of plaster or metal? If metal, then what kind of metal – is it aluminum, copper or some type of alloy? When you determined the essential materials, estimate production cost as the price that you’ll charge for the product will be based on the production price of every individual unit. You don’t have to be 100% correct at this point with your material selections, but it’s excellent to know what materials will go into production of your products or services allowing you to have a ball-park figure on the final cost of your product or service.
Step 6 – Estimate Cost and Gross Profit
Once you determined who will use your product and where (or perhaps 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 designed in such a way 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 make a full-scale version of Invention Companies made of clay. Before involving an engineer, Mary A. estimated that her product will 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 expenses are already factored in to the estimated production cost). Mary A. did comparative shopping and determined that other types 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); furthermore, each stores needs a 40% commissions per each purchase – meaning that $6 is paid being a commission towards 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 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 absolutely important to the success of your idea. Partnering with marketing company that you can trust and depend on will probably pay big dividends inside the long run and really should not be overlooked. What should you know about marketing companies? Many of these companies are split into two groups (I am going to call them groups A and B) –
1. Group A: These firms claim they have specific knowledge and inside connections in a broad range of industries. In addition to been expensive, many companies that fit in with this group are accused of fraud and inventor should carefully consider who they really are dealing with. Inside the best case scenario, you could potentially lose all of your money and valuable time; in worst-case scenario, as well as losing money someone else may reap the benefits of your invention (unless, of course, you had been fortunate enough to patent it!!)
2. Group B: These companies give inventor complete freedom in marketing their idea. Inventors choose what you should say while focusing on emphasize areas they believe are most pertinent with their invention. I would personally like to point out IdeaJets website (www.ideajets.com):
IdeaJets is a marketplace where people with ideas and corporations who look 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 contact 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 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 increase their chances to achieve success. As of right now, IdeaJets is completely free!
Conclusion and a few Final Thoughts:
As one can see, it takes a lot of patience, preparation and perseverance on behalf of inventor to succeed. The most important thing is always to not get discouraged by the existence of competition and potential rejections. When I mentioned inside my article, level of competition is good and healthy. If your competitor is having a great success using the product much like what you’ve developed, then because of this the product that you will be concentrating on has great potential. Carefully examine competitor’s product and figure out its weaknesses or vulnerabilities. This, of course, presumes that you simply finalized your initial design, worked out all the kinks and produced a full-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 you in designing marketing plan specifically tailored towards your product or service. Placed on paper and document your findings simply because you may forget some details down the road and recognize that the data you painfully require is gone. In general, attempt to incorporate your findings xqvfcq to cost, market and demographic analysis into Business Plan and store it in a safe place! Most companies you will make an effort to work or partner with will need you to produce Strategic Business Plan documentation. Lacking you will force one to produce Business Plan documentation almost overnight and this is not an easy task. My suggestion to you – start working on the Business Plan from your beginning and save 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 good recipe to success!