So, a little light bulb inside 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 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 the discussion, I would personally like to offer a few words of wisdom. While working on your idea you will come across individuals who will criticize your work and then try to discourage from forging ahead. Some of the How To Register A Patent In The USA is going to be deserved and must be taken into consideration. When you see that the valid point is raised that you never thought of before – the greater off you are. It gives 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.
When you figure out how to separate both of these, you may be better of. My advice to you personally –
– Don’t be afraid to question professionals, because most experts are certainly one-track minded and oblivious with other things
– Don’t hesitate to challenge other people’s ideas, uphold your principles and become firm
– Don’t hesitate to find out that the own idea is faulty. Pause, make corrections, re-analyze and move ahead
If you are prepared to advertise your idea, you will have to handle large corporations. Stay in mind that the larger the company is, the better bureaucratic it is actually. Many big companies lose focus and often hire employees who are either not qualified for the task, or just not thinking about the things they are doing. If you discover these people that are trying to make you feel insignificant (along with your idea unimportant and impractical) don’t get discouraged from this – then chances are you will likely be better off coping 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 regarding 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 audience. If you cannot precisely define your idea, then this means that you ought to take 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 quick example will clarify this point:
Case Study 1
John K. has 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 and a screw driver. However, adding these things makes the How To Start An Invention larger and heavier. In order to help make knife lighter, John K. goes back towards the drawing board – he compromises his original, Automatic Push/Pull mechanism design in try to accommodate unnecessary additional features that 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.
Inside the final analysis, John K. needs to have stopped right before making any changes to his original Automatic Knife Mechanism and asked himself the subsequent – am I happier with the original mechanism or with pedestrian mechanism that has additional features? Are the extra features even necessary?
The aforementioned example clearly illustrates these – focus on your original idea and ignore additional, superfluous features that might muddle your vision. Additional features can come into play later, when you clearly described and shaped your invention.
Step Two Exploratory Stages – Determine if 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 have to do some legwork and hit your neighborhood library and internet. Until you allocated a lot of your finances to Patent Lawyers, that will carry out the research to suit your needs, you may be happier doing initial research on your own. Why? Simply because you may discover during your exploratory searches that the 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 comparable to yours already exists and already patented. The reality that someone came to the similar conclusions when you, just 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 necessary. Figure out what differentiates your idea from competitor’s, its limitations and how successful was someone else (or a company) with marketing it. While you can see, you can actually learn from mistakes of others, avoid their mistakes and forge ahead fully aware of competition as well as their limitations.
Step 3 – Product Safety Considerations
Whether you decided to generate a baby product or some kind of household appliance, a unique care should be consumed describing potential hazards associated with the aid of your product or service. For instance, in the event you invented a new toy created for small children, try to create the list of parts that can potentially harm your little customers. Keep in mind that numerous people, unfortunately, disregard exploitation manuals. Know what can or may go awry with the operation of your own product and determine ways regarding how to improve product safety. The questions that you simply may consider are definitely the following –
1. Am I using proper materials?
2. Maybe the part that contains probably the most hazards needs to be redesigned?
Try to generate a thorough list of parts that can be potentially hazardous and repair your design before you start out marketing your product or service. You may consider this step as unnecessary, but let me warn you – most marketing companies will need you to describe all Safety measures of your idea, and you might stay away from a while 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 product and also you resolved all nuances of product design, make an effort to determine that will make use of your product, when and where. Try to ask yourself the subsequent questions –
1. What exactly is the age bracket of target market?
2. Is my product intended for Men, Women, or Both?
3. Where and once can it be used?
Correctly answering these questions will allow you to properly advertise your product and remain up to date with your competition. In addition, knowing techniques to all these questions can help you in putting finishing touches on the product. How? In case your product is ideal for children, then it ought to be bright and colorful. Additionally, in case your product is designed for cold climate, you need to avoid marketing it in areas where it’s hot all year long.
It is quite likely that the product is tailored for certain industry (for instance, agricultural); then think of people who will benefit the best from your invention! In case your product is designed to work with specific soil or crops, then you certainly should target geographical region rich with desired characteristics. As one can see, this step requires 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 Model of Your Products Or Services
It is extremely important to create a working model from your idea. Why? With a real-life style of your idea (or perhaps a scaled-down version from it), will help you –
1. Identify its limitations and offers you the opportunity to re-think some aspects of your initial design and make necessary corrections
2. Improve your final design
In addition to the above mentioned items, the final model will 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 actual-life model 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 achieve success!
The simplest way to approach this step is to attempt to draw on some paper the ultimate version of the product, how you see it around this point soon enough. Your drawings should show your final idea/product under different angles, in a 2-D and three-D. The photo might not pretty because not most of us have the necessary drawing skills. However, this drawing task can help you immensely solidify your design and pin-point items which you will still need to work on. Additionally, I strongly recommend that you generate your initial product prototype from clay or any other material that is certainly easily available. Why? As this prototype together with initial drawing will allow you to explain your idea to technical person who, in turn, will transform your design into highly technical engineering drawing.
When you prepared your model, try to determine what materials will 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 kind of alloy? When you determined the necessary materials, estimate production cost since the price that you’ll charge for the product will depend on the production price of every individual unit. You don’t need to be 100% correct at this point along with your material selections, but it’s very good to know what materials should go into production of your product or service allowing you to have a ball-park figure on the final price of your product or service.
Step 6 – Estimate Cost and Gross Profit
As soon as you determined who will use your product and where (or maybe your product’s market), it is actually time and energy to think “big” – try 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 way that it would hold the bottles, spoons and bottle caps. Mary A. created numerous drawings of her product and with the help of her husband managed to generate a full-scale version of How To Pitch An Invention Idea To A Company made from clay. Before involving an engineer, Mary A. estimated that her product is going to be made entirely from plastic. The estimated production expense of 1 bottle holder is $3.00 (we presume that 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 kinds 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); furthermore, each stores demands a 40% commissions per each purchase – which means that $6 is paid as being a commission for 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 a person third of 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 volume of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct online marketing strategy is totally essential to the prosperity of your idea. Partnering with marketing company that you simply can trust and depend on pays 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 will call them groups A and B) –
1. Group A: These companies claim that they 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 are coping with. In the best case scenario, you might potentially lose all of your money and time; in worst-case scenario, in addition to losing money someone else may benefit from your invention (unless, needless to say, you were lucky enough to patent it!!)
2. Group B: These businesses give inventor complete freedom in marketing their idea. Inventors choose what to say while focusing on emphasize areas they think are most pertinent for their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is actually a marketplace where individuals with ideas and corporations who search for sharp minds meet. As well as helping you find a right partner who can help you realize your ideas 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 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 improve their chances to succeed. At the time of right now, IdeaJets is completely free!
Conclusion plus some Final Thoughts:
As one can see, it requires lots of patience, preparation and perseverance on the part of inventor to succeed. The biggest thing is always to not get discouraged by the actual existence of competition and potential rejections. Because I mentioned within my article, competition is good and healthy. If your competitor is going for a amazing success with all the product much like what you’ve developed, then which means that the merchandise that you will be focusing on has great potential. Carefully examine competitor’s product and find out its weaknesses or vulnerabilities. This, obviously, presumes which you finalized your initial design, worked out each of the kinks and produced an entire-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 online marketing strategy specifically tailored towards your product. Wear paper and document all your findings simply because you may forget some details later on and understand that the information you painfully should get is gone. In general, try to incorporate all of your findings xqvfcq to cost, market and demographic analysis into Strategic Business Plan and store it in a safe place! Most companies you are going to try to work or partner with will require you to produce Strategic Business Plan documentation. Lacking you might force you to produce Business Strategy documentation almost overnight and this is simply not an easy task. My suggestion for you – begin working on the Strategic Business Plan from the start and save yourself from having sleepless nights! And a final word of wisdom – don’t be afraid to be over-confident, because confidence and belief in one’s own powers are a good recipe to success!