Product Idea..

So, a little light bulb within you head has lit up and you are struck with the concept 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 really 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 the discussion, I would like to offer a few words of wisdom. While working on your idea you will encounter people who will criticize your work and try to discourage you against forging ahead. Some of the Inventhelp Phone Number will likely be deserved and must be taken into account. If you see that a valid point is raised that you never thought of before – the greater off you might be. It gives you possibility to pause 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 learn how to separate both of these, you will be better of. My advice to you –

– Don’t be afraid to question professionals, because most experts is one-track minded and oblivious with other things

– Don’t hesitate to challenge other people’s ideas, stand by your principles and become firm

– Don’t hesitate to discover that your particular own idea is faulty. Pause, make corrections, re-analyze and move ahead

When you find yourself ready to promote your idea, you should cope with large corporations. Stay in mind that the bigger the company is, the better bureaucratic it is actually. Many big companies lose focus and frequently hire employees that are either not qualified for the job, or just not thinking about whatever they are doing. If you discover these people that are attempting to make you feel insignificant (along with your idea unimportant and impractical) don’t get discouraged with this – then chances are you will be happier coping with smaller company which is more focused and prepared 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 concerning how to expand your invention

Always try to wear paper what exactly it is that you simply invented – precisely define your idea, its purpose, limitations and target audience. If you cannot precisely define your idea, then because of this you ought to take a step back, re-analyze your thinking and simplify things. The most typical error that people make at this stage is over-complicating their idea. A quick example will clarify this point:

Case Study 1

John K. comes with 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 gain benefit from the addition of extra items – a scissor as well as a screw driver. However, incorporating these things helps make the Invent Help 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 attempt to accommodate unnecessary extra features which have nothing related to 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.

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 using the original mechanism or with pedestrian mechanism which has additional features? Are the extra features even necessary?

The above mentioned example clearly illustrates the subsequent – concentrate on your original idea and ignore additional, superfluous features that might muddle your vision. Additional features can come into play later, as soon as you clearly described and shaped your invention.

Step 2 Exploratory Stages – Determine whether your idea is different

Once you’ve documented your idea, you should start thinking about the following – how unique is my idea? In order to answer these questions, you will need to do some legwork and hit your local library and internet. Until you allocated a large amount of your finances to Patent Lawyers, who will carry out the research for you, you will end up more satisfied doing initial research alone. Why? Since you may discover during your exploratory searches that your design is not really unique and stay away from from paying Big Lawyer fees. A note of caution – don’t get discouraged in the event you determine that the idea much like yours already exists and already patented. The fact that someone got to the similar conclusions as you, just just a little bit earlier is great – there is a competition! Competition is good, level of competition is healthy! Carefully examine competing product, even bring it apart, if required. Determine what differentiates your idea from competitor’s, its limitations and how successful was someone else (or perhaps a company) with marketing it. When you can see, you can actually study from mistakes of others, avoid their mistakes and forge ahead fully aware of competition and their limitations.

Step Three – Product Safety Considerations

Whether you opted to generate a baby product or some kind of household appliance, a special care should be consumed describing potential hazards associated by using your products or services. For instance, should you invented a 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. Figure out what can or may go wrong with the operation of your product and figure out ways regarding 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 that contains probably the most hazards should be redesigned?

Try to create a comprehensive listing of parts that can be potentially hazardous and correct your design before you start marketing your products or services. You may consider this step as unnecessary, but let me warn you – most marketing companies will require that you describe all Safety measures of your own idea, and you might save a bit of time 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 also you resolved all nuances of product design, try to determine that will use your product, where and when. Attempt to think about the subsequent questions –

1. What is the age bracket of audience?

2. Is my product created for Men, Women, or Both?

3. Where so when can it be used?

Correctly answering these questions will help you properly market your product and stay abreast of the competition. Furthermore, knowing answers to the aforementioned questions will allow you to in putting finishing touches on your product. How? Should your product is made for children, then it ought to be bright and colorful. In addition, if your product is ideal for cold climate, you need to avoid marketing it in locations where 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 those that will benefit the most from your invention! If 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 needs 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 produce a working model off of your idea. Why? Having a real-life model of your idea (or perhaps a scaled-down version from it), will assist you to –

1. Identify its limitations and offers you an opportunity to re-think some facets of your initial design making necessary corrections

2. Boost your final design

Along with the previously listed items, the last model can help you psychologically. There is no better feeling then to be able to physically see and touch the development of your personal mind! The fact that you are touching the real-life style 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 succeed!

The easiest method to approach this task is to try and draw on a piece of paper the last version of the product, the way you view it around this point in time. Your drawings should show one last idea/product under different angles, in a 2-D and three-D. The photo might not pretty because not most of us possess the necessary drawing skills. However, this drawing task will allow you to immensely solidify your design and pin-point items that you continue to must work on. In addition, I strongly suggest which you generate your initial product prototype from clay or some other material that is certainly easily available. Why? Because this prototype in addition to initial drawing will allow you to explain your idea to technical individual who, subsequently, will transform your design into highly technical engineering drawing.

When you prepared your model, try to determine what 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 – could it be 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 expense of every person unit. You don’t need to be 100% correct at this time with your material selections, but it’s very good to know what materials should go into production of your product allowing you to have a ball-park figure on the final expense of your products or services.

Step 6 – Estimate Cost and Gross Profit

Once you determined who can use your product and where (or your product’s market), it really is time and energy to think “big” – make an effort to work out cost/benefit analysis of your product. Below is really 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 designed in a manner it would hold both bottles, spoons and bottle caps. Mary A. created numerous drawings of her product and through the help of her husband managed to produce a full-scale version of Inventhelp Inventions manufactured from clay. Before involving an engineer, Mary A. estimated that her product will likely be made entirely out of plastic. The estimated production price of 1 bottle holder is $3.00 (we presume the manufacturing plant is found 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 are selling around $15 dollars. In addition, Mary found out that three local baby stores each serve 1000 shoppers per day (including online purchases); in addition, each stores requires a 40% commissions per each purchase – which means $6 is paid being a commission towards the store for each $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 totally essential to the prosperity of your idea. Partnering with marketing company which you can trust and depend on pays big dividends within the long run and should not be overlooked. What in the event you know about marketing companies? The majority of these companies are separated into two groups (I will give them a call groups A and B) –

1. Group A: These firms claim they may have specific knowledge and inside connections in a broad range of industries. As well as been expensive, many companies that belong to this group are charged with fraud and inventor should carefully consider who they really are coping 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 somebody else may take advantage of your invention (unless, obviously, you had been fortunate enough to patent it!!)

2. Group B: These businesses give inventor complete freedom in marketing their idea. Inventors choose things to say and focus on emphasize areas which they think are most pertinent with their invention. I would personally like to point out IdeaJets website (www.ideajets.com):

IdeaJets is really a marketplace where people with ideas and companies who search for sharp minds meet. In addition to helping you discover a right partner who can enable you to realize your thoughts and dreams, IdeaJets also brings inventors in touch 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 these to further improve their chances to be successful. At the time of right now, IdeaJets is totally free!

Conclusion plus some Final Thoughts:

As you can see, it requires plenty of patience, preparation and perseverance for inventor to succeed. The most important 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 going for a amazing success using the product comparable to what you’ve developed, then because of this the merchandise that you are concentrating 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 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 you in designing online marketing strategy specifically tailored towards your product or service. Placed on paper and document all your findings because you may forget some details down the road and realize that the information you painfully should get is gone. In general, make an effort 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. Without having you might force you to produce Business Strategy documentation almost overnight and this is simply not always easy. My suggestion to you personally – begin working on the Strategic Business Plan through the beginning and stay away from from having sleepless nights! As well as a final word of wisdom – don’t be scared to get over-confident, because confidence and belief in one’s own powers are a great recipe to success!