So, a little light bulb within you head has lit up and you are struck with the notion 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 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 all the discussion, I would personally like to provide a few words of wisdom. While dealing with your idea you will come across those who will criticize your work and try to discourage from forging ahead. A number of the How To Submit A Patent will be deserved and must be considered. If you notice that the valid point is raised that you never thought of before – the higher off you happen to be. It gives you 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.
Once you discover ways to separate both of these, you will end up better of. My advice to you –
– Don’t hesitate to question professionals, since most experts are certainly one-track minded and oblivious to other things
– Don’t be afraid to challenge other people’s ideas, stand by your principles and stay firm
– Don’t hesitate to discover that your own idea is faulty. Pause, make corrections, re-analyze and move ahead
If you are ready to promote your idea, you will have to handle large corporations. Stay in mind that the larger the company is, the more bureaucratic it is. Many big companies lose focus and frequently hire employees who are either not qualified for the job, or just not interested in whatever they are going to do. If you come across these people that want to help you feel insignificant (and your idea unimportant and impractical) don’t get discouraged by this – chances are you is going to be more satisfied working with smaller company that is certainly more focused and willing to take risks!
Step 1 – Stay Focused and Clearly Document Your Idea
This task 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 use 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 which means that you ought to require a step back, re-analyze your thinking and simplify things. The most common error that folks make at this point has ended-complicating their idea. A simple example will clarify this point:
Case Study 1
John K. has an idea regarding 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 and a screw driver. However, adding these products helps make the Inventhelp Vibe larger and heavier. In order to help make knife lighter, John K. goes back to the drawing board – he compromises his original, Automatic Push/Pull mechanism design in attempt to accommodate unnecessary extra features who have nothing related to his unique design. Through taking away features from his original design, John K. makes his final design very pedestrian and it lacks in originality.
In the final analysis, John K. should have stopped right before creating any changes to his original Automatic Knife Mechanism and asked himself these – am I better off with all the original mechanism or with pedestrian mechanism which has additional features? Are the extra features even necessary?
The above mentioned example clearly illustrates these – focus on your original idea and ignore additional, superfluous features that might muddle your vision. Extra features can come into play later, as soon as you clearly described and shaped your invention.
Step Two Exploratory Stages – Determine whether your idea is unique
Once you’ve documented your idea, you can start taking into consideration the following – how unique is my idea? In order to reply to these questions, you will need to perform some legwork and hit your neighborhood library and internet. Except if you allocated a lot of your financial budget to Patent Lawyers, who will perform the research to suit your needs, you will be more satisfied doing initial research on your own. Why? Simply because you may discover throughout your exploratory searches that your design is not unique and save from paying Big Lawyer fees. A note of caution – don’t get discouraged in the event you determine the idea comparable to yours already exists and already patented. The reality that someone arrived at the similar conclusions as you, just just a little bit earlier is good – you do have a competition! Competition is good, levels of competition are healthy! Carefully examine competing product, even carry it apart, if necessary. Determine what differentiates your idea from competitor’s, its limitations and just how successful was another individual (or 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 conscious of competition as well as their limitations.
Step Three – Product Safety Considerations
Whether you decided 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 use of your product. As an example, should you invented a brand new toy intended for small kids, try to generate the list of parts that can potentially harm your little customers. Stay in mind that many people, unfortunately, disregard exploitation manuals. Determine what can or may go awry with all the operation of your own product and determine ways on how to improve product safety. The questions which you may consider are the following –
1. Am I using proper materials?
2. Maybe the part which contains the most hazards ought to be redesigned?
Try to come up with a thorough set of parts that can be potentially hazardous and fix 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 you to describe all Safety features of your own idea, and you might stay away from some time by doing preparations ahead of time.
Step 4 – Demographics and Determining who can Use Your Product
Ones you have a clear picture of your product and you worked out all nuances of product design, try to determine that will use your product, when and where. Make an effort to think about 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 help you properly promote your product and stay up to date with your competition. In addition, knowing answers to the aforementioned questions will help you in putting finishing touches on your product. How? If your product is designed for children, then it should be bright and colorful. Furthermore, in case your product is made for cold climate, you ought to avoid marketing it in places that it’s hot all year long.
It is quite likely that your particular item is tailored for certain industry (as an example, agricultural); then think of people who may 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 you can see, this step requires a thorough research, planning and leg work; the rewards, on the other hand, will likely be payoff rewarding!
Step 5 – Produce Full or Small Scale Type of Your Products Or Services
It is extremely important to make a working model away from your idea. Why? With a real-life style of your idea (or a scaled-down version of this), will help you to –
1. Identify its limitations and provides you the opportunity to re-think some facets of your initial design to make necessary corrections
2. Improve your final design
In addition to the previously listed items, the last model will allow you to psychologically. There is absolutely no better feeling then in order to physically see and touch the creation of your very own mind! The fact that you are touching the actual-life style of your final design will give you positive psychological boost similar to not one other you’ve experienced during design process, motivating you even more to be successful!
The simplest way to approach this task is to try and draw on a bit of paper the last version of your own product, how you look at 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 image 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 things that you will still must work on. In addition, I strongly suggest which you generate your initial product prototype from clay or some other material which is easily available. Why? Since this prototype together with initial drawing will help you explain your idea to technical individual who, consequently, will transform your design into highly technical engineering drawing.
As soon as you prepared your model, try to determine 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 – could it be aluminum, copper or some kind of alloy? When you determined the essential materials, estimate production cost because the price that you’ll charge for your product depends on the production expense of every individual unit. You don’t need to be 100% correct at this stage with your material selections, but it’s great 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.
Step 6 – Estimate Cost and Gross Profit
When you determined that will make use of your product and where (or your product’s market), it really is time and energy to think “big” – attempt to work out cost/benefit analysis of your own product. Below is actually a case study –
Mary A., a homemaker with three little children, designed a plastic bottle holder for babies and small toddlers. Her bottle holder was created in such a way which it would hold 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 Inventhelp Success Stories manufactured from clay. Before involving an engineer, Mary A. estimated that her product will likely be made entirely from plastic. The estimated production expense of 1 bottle holder is $3.00 (we presume the 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 types of Baby Holders can sell 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 – meaning that $6 is paid being a commission to the store for every $15 purchase. Mary A. immediately determined 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 plan is completely necessary to the prosperity of your idea. Partnering with marketing company that you can trust and depend on will pay big dividends in the long run and must not be overlooked. What should you know about marketing companies? The majority of these companies are split into two groups (I am going to contact them groups A and B) –
1. Group A: These companies claim they have specific knowledge and inside connections in a broad range of industries. In addition to been expensive, many companies that belong to this group are charged with fraud and inventor should carefully consider who they really are working 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 another person may benefit from your invention (unless, obviously, you had been lucky enough to patent it!!)
2. Group B: These firms give inventor complete freedom in marketing their idea. Inventors choose what to say while focusing on emphasize areas that they believe are most pertinent to their invention. I would like to point out IdeaJets website (www.ideajets.com):
IdeaJets is really a marketplace where people with ideas and companies 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 contact with other ambitious people to cultivate and promote the culture of inventiveness and success. You can meet your fellow inventors using IdeaJets messaging system or even 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 increase their chances to succeed. Since right now, IdeaJets is completely free!
Conclusion plus some Final Thoughts:
As one can see, it will take lots of patience, preparation and perseverance on the part of inventor to achieve success. The biggest thing is always to not get discouraged by the existence of competition and potential rejections. As I mentioned inside my article, level of competition is good and healthy. If your competitor is going for a great success with all the product comparable to what you’ve developed, then this means that the item that you are currently working on has great potential. Carefully examine competitor’s product and figure out its weaknesses or vulnerabilities. This, of course, presumes that you finalized your initial design, resolved all the kinks and produced a full-scale (or scaled-down) version of your own product. Once you know enough about competitor’s product, carefully study your market and demographics – this will help in designing marketing strategy specifically tailored towards your products or services. Put on paper and document your findings because you may forget some details afterwards and understand that the data you painfully need is gone. In general, try to incorporate all of your findings xqvfcq to cost, market and demographic analysis into Business Strategy and store it in a safe place! Many businesses you may make an effort to work or partner with will require that you produce Strategic Business Plan documentation. Lacking you might force one to produce Business Plan documentation almost overnight and this may not be a simple task. My suggestion for you – begin working on the Strategic Business Plan from your start 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 good recipe to success!