So, a little light bulb inside you head has lit up and you are struck with the idea 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 seeking. 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 guarantee you that in the end you will be happy that you took my advice.
Before we proceed using the discussion, I might like to offer a few words of wisdom. While dealing with your idea you will encounter those who will criticize your work and try to discourage you against forging ahead. A few of the Tech is going to be deserved and must be considered. If you notice which a valid point is raised that you simply never thought of before – the higher off you are. It offers you chance 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.
When you figure out how to separate those two, you will end up better of. My advice to you –
– Don’t hesitate to question professionals, because most experts is one-track minded and oblivious to other things
– Don’t be scared to challenge other people’s ideas, uphold your principles and become firm
– Don’t be afraid to find out that the own idea is faulty. Pause, make corrections, re-analyze and move ahead
If you are ready to advertise your idea, you will need to handle large corporations. Keep in mind that the bigger the company is, the better bureaucratic it is. Many big companies lose focus and often hire employees who definitely are either not qualified for the job, or just not thinking about whatever they are going to do. If you come across these folks who are trying to make you feel insignificant (as well as your idea unimportant and impractical) don’t get discouraged with this – then chances are you is going to be better off working with smaller company which is more focused and ready to take risks!
Step 1 – Remain 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 on how to expand your invention
Always try to wear paper what it is which you 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 frequent error that people make at this stage has ended-complicating their idea. A quick example will clarify this point:
Case Study 1
John K. comes with an idea concerning 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 as well as a screw driver. However, the addition of these things makes the Patent Attorney 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 extra features that have nothing related to 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.
Inside the final analysis, John K. needs to have stopped right before creating any changes to his original Automatic Knife Mechanism and asked himself the subsequent – am I better off using the original mechanism or with pedestrian mechanism which has additional features? Are the additional features even necessary?
The above mentioned example clearly illustrates the following – give attention to your original idea and ignore additional, superfluous features that might muddle your vision. Additional features can come into play later, once you clearly described and shaped your invention.
Step 2 Exploratory Stages – Determine whether your idea is different
Once you’ve documented your idea, you can start considering the following – how unique is my idea? In order to respond to these questions, you will have to do some legwork and hit your local library and internet. Except if you allocated a substantial amount of your budget to Patent Lawyers, who will do the research for you, you will be more satisfied doing initial research alone. Why? Simply because 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 the idea much like yours already exists and already patented. The reality that someone arrived at the similar conclusions as you, just a bit bit earlier is nice – you have a competition! Competition is good, levels of competition are healthy! Carefully examine competing product, even take it apart, if needed. Determine what differentiates your idea from competitor’s, its limitations and just how successful was another person (or a company) with marketing it. As you can see, you can actually study from mistakes of others, avoid their mistakes and forge ahead fully conscious of competition and their limitations.
Step Three – Product Safety Considerations
Whether you opted to produce a baby product or some form of household appliance, a unique care needs to be consumed describing potential hazards associated with the aid of your products or services. For instance, in the event you invented a brand new toy intended for small children, try to come up with a list of parts that can potentially harm your little customers. Stay in mind that numerous people, unfortunately, disregard exploitation manuals. Determine what can or may go awry using the operation of your product and find out 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 which has probably the most hazards should be redesigned?
Try to generate a comprehensive set of parts that can be potentially hazardous and fix your design before you start marketing your product. You may think of this step as unnecessary, but let me warn you – most marketing companies will require you to describe all Safety features of your idea, and you also might save a bit of time by doing preparations in advance.
Step 4 – Demographics and Determining that will Make Use Of Product
Ones there is a clear picture of the product and also you resolved all nuances of product design, attempt to determine who will use your product, when and where. Attempt to consider the following questions –
1. What is the age bracket of target market?
2. Is my product intended for Men, Women, or Both?
3. Where so when can it be utilized?
Correctly answering these questions can help you properly market your product and remain up to date with your competition. Furthermore, knowing techniques to the aforementioned questions will help you in putting finishing touches on your own product. How? If your product is ideal for children, then it should be bright and colorful. Furthermore, in case your product is ideal for cold climate, you should avoid marketing it in areas where it’s hot all year long.
It is extremely likely that your particular product is tailored for certain industry (for instance, agricultural); then think of those who will manage to benefit the most from your invention! If 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 task 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 Model of Your Products Or Services
It is extremely important to create a working model from your idea. Why? With a real-life type 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 and make necessary corrections
2. Enhance your final design
In addition to the previously discussed items, the ultimate model can help you psychologically. There is no better feeling then so that you can physically see and touch the development of your personal mind! The fact that you are touching the true-life type of your final design will give you positive psychological boost equal to no other you’ve experienced during design process, motivating you even more to be successful!
The best way to approach this method is to try and draw on a bit of paper the last version of your product, how you will view it around this point in time. 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 a lot of us hold the necessary drawing skills. However, this drawing task will help you immensely solidify your design and pin-point items which you will still have to work on. Additionally, I strongly suggest that you simply generate your initial product prototype from clay or some other material which is easily available. Why? As this prototype together with initial drawing can help you explain your idea to technical person who, consequently, will transform your design into highly technical engineering drawing.
As soon as you prepared your model, try to determine what materials goes 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? Once you determined the required materials, estimate production cost as the price that you’ll charge for the product depends on the production price of each individual unit. You don’t have to be 100% correct at this stage with your material selections, but it’s very good 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 or service.
Step 6 – Estimate Cost and Gross Profit
When you determined who will make use of product and where (or perhaps your product’s market), it is actually time for you to think “big” – make an effort to work out cost/benefit analysis of your product. Below is 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 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 produce a full-scale version of How To Get A Patent On An Idea manufactured from clay. Before involving an engineer, Mary A. estimated that her product will be made entirely away from plastic. The estimated production cost of 1 bottle holder is $3.00 (we presume the manufacturing plant is located 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 are selling around $15 dollars. Additionally, 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 – which means $6 is paid as a commission to the store for each $15 purchase. Mary A. immediately determined that her total profit will likely be $6 per each bottle holder ($15 – $6 – $3). Presume that certain 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 completely essential to the prosperity of your idea. Partnering with marketing company that you can trust and depend on pays big dividends within the long run and really should not be overlooked. What in the event you know about marketing companies? Many of these companies are divided into two groups (I will give them a call groups A and B) –
1. Group A: These businesses claim they may have specific knowledge and inside connections in a broad range of industries. Along with been expensive, most companies that belong to this group are accused of fraud and inventor should carefully consider who they are dealing with. Within the best case scenario, you could potentially lose all your money and time; in worst-case scenario, as well as losing money another person may take advantage of your invention (unless, of course, that you were fortunate enough to patent it!!)
2. Group B: These firms give inventor complete freedom in marketing their idea. Inventors choose what you should say and focus on emphasize areas that they believe are most pertinent for their invention. I would personally like to point out IdeaJets website (www.ideajets.com):
IdeaJets is really a marketplace where people who have ideas and corporations who look for sharp minds meet. In addition to helping you find a right partner who can enable you to realize your thoughts and dreams, IdeaJets also brings inventors in touch 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 even in Forums. Hopefully, by sharing ideas and opinions, users might view their inventions or ideas in a new light, refine and re-define them to further enhance their chances to be successful. Since right now, IdeaJets is completely free!
Conclusion and some Final Thoughts:
As you can see, it will take plenty of patience, preparation and perseverance on behalf of inventor to succeed. The biggest thing is always to not get discouraged by the presence of competition and potential rejections. When I mentioned inside my article, competition is good and healthy. If your competitor is having a positive results using the product much like what you’ve developed, then this 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, of course, presumes that you finalized your initial design, resolved each of the kinks and produced a complete-scale (or scaled-down) version of the 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. Placed on paper and document your findings because you may forget some details later on and recognize that the info you painfully should get is gone. In general, try to incorporate all your findings xqvfcq to cost, market and demographic analysis into Business Strategy and store it in a safe place! Most companies you are going to try to work or partner with will need you to produce Business Strategy documentation. Lacking you might force one to produce Business Strategy documentation almost overnight and this is simply not always easy. My suggestion to 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 get over-confident, because confidence and belief in one’s own powers are a great recipe to success!