So, a little light bulb inside you head has lit up and you are struck with the notion that you invented something. You are uncertain 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 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 the discussion, I might like to provide a few words of wisdom. While caring for your idea you will come across people who will criticize your work and try to discourage from forging ahead. Some of the Inventhelp Patent Invention is going to be deserved and really should be considered. If you notice that a valid point is raised which you never thought of before – the better off you happen to be. It gives you possibility to stop 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 discover ways 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 one-track minded and oblivious with other things
– Don’t be afraid to challenge other people’s ideas, stand by your principles and be firm
– Don’t be scared to find out that your own idea is faulty. Pause, make corrections, re-analyze and move ahead
If you are prepared to advertise your idea, you will have to deal with large corporations. Keep in mind that the bigger the company is, the better bureaucratic it is actually. Many big companies lose focus and often hire employees who definitely 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 (along with your idea unimportant and impractical) don’t get discouraged from this – then you will be better off dealing with smaller company that is more focused and willing to take risks!
Step 1 – Remain Focused and Clearly Document Your Idea
This method has huge benefits, because –
1. You are going to clearly define your idea/invention
2. While documenting your idea, you may find ways regarding how to expand your invention
Always try to put on 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 which means that you should require a step back, re-analyze your thinking and simplify things. The most frequent error that people make at this point is over-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, the addition of these products makes the How Do You Patent An Idea With Inventhelp 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 attempt to accommodate unnecessary extra features who 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.
In the final analysis, John K. should have stopped right before making any changes to his original Automatic Knife Mechanism and asked himself the following – am I happier with all the original mechanism or with pedestrian mechanism that has extra features? Would be the additional features even necessary?
The above example clearly illustrates the following – give attention to your original idea and ignore additional, superfluous features that might muddle your vision. Additional features should come into play later, when you clearly described and shaped your invention.
Step 2 Exploratory Stages – See whether your idea is unique
Once you’ve documented your idea, you should begin taking into consideration the following – how unique is my idea? In order to reply to these questions, you will need to carry out some legwork and hit your local library and internet. Until you allocated a lot of your budget to Patent Lawyers, that will perform the research to suit your needs, you will be happier doing initial research by yourself. Why? Because you may discover throughout your exploratory searches that your particular design is not really unique and save yourself from paying Big Lawyer fees. A note of caution – don’t get discouraged in the event you determine the idea similar to yours already exists and already patented. The truth that someone arrived at the similar conclusions as you, just a little bit earlier is good – there is a competition! Level of competition is good, competition is healthy! Carefully examine competing product, even carry it apart, if required. Know what differentiates your idea from competitor’s, its limitations and just how successful was someone else (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 and their limitations.
Step Three – Product Safety Considerations
Whether you decided to produce a baby product or some type of household appliance, an exclusive care ought to be taken in describing potential hazards associated with the aid of your product. For instance, if you invented a whole new toy intended for young children, try to create a list of parts that can potentially harm your little customers. Stay in mind that lots of people, unfortunately, disregard exploitation manuals. Figure out what can or may fail using the operation of your product and determine ways regarding how to improve product safety. The questions that you simply may think about are definitely 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 complete set of parts that can be potentially hazardous and correct your design before you start marketing your product or service. You may think of this step as unnecessary, but let me warn you – most marketing companies will need you to describe all Safety features of the idea, and also you might save yourself some time by doing preparations in advance.
Step 4 – Demographics and Determining that will Make Use Of Your Product
Ones there is a clear picture of the product and you resolved all nuances of product design, try to determine who can use your product, when and where. Try to consider the subsequent 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 stay up to date with competition. Additionally, knowing answers to all these questions will allow you to in putting finishing touches on the product. How? If your product is designed for children, then it ought to be bright and colorful. In addition, should your product is designed for cold climate, you ought 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 (for example, agricultural); then think of those who will manage to benefit the most from your invention! Should your product was created to work with specific soil or crops, then you certainly should target geographical region rich with desired characteristics. As one can see, this task requires a thorough research, planning and leg work; the benefits, on the other hand, is going to be payoff rewarding!
Step 5 – Produce Full or Small Scale Type of Your Products Or Services
It is very important to make a working model away from your idea. Why? Having a real-life style of your idea (or even a scaled-down version from it), will help you to –
1. Identify its limitations and gives you the opportunity to re-think some facets of your initial design and make necessary corrections
2. Improve your final design
Along with the above mentioned items, the final model will help you psychologically. There is no better feeling then in order to physically see and touch the creation of your personal mind! The fact that you are touching the actual-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 be successful!
The simplest way to approach this task is to try and draw on a bit of paper the final version of the product, the way you see it at this point in time. Your drawings should show your final idea/product under different angles, in a 2-D and 3-D. The picture might not pretty because not most of us hold the necessary drawing skills. However, this drawing task will allow you to immensely solidify your design and pin-point things that you still need to work on. In addition, I strongly recommend which you generate your initial product prototype from clay or any other material that is easily available. Why? As this prototype along with initial drawing will allow you to explain your idea to technical individual who, in turn, will transform your design into highly technical engineering drawing.
Once you prepared your model, try to find out what 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 form of alloy? As soon as you determined the required materials, estimate production cost because the price that you’ll charge for your product depends on the production cost of each individual unit. You don’t need to be 100% correct at this point 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 products or services.
Step 6 – Estimate Cost and Gross Profit
Once you determined who can make use of your product and where (or maybe your product’s market), it is actually time to think “big” – attempt 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 produce a full-scale version of Patent Idea made of clay. Before involving an engineer, Mary A. estimated that her product will likely be made entirely away from plastic. The estimated production price of 1 bottle holder is $3.00 (we presume that the manufacturing plant is located in China and shipping expenses are already factored in into the estimated production cost). Mary A. did comparative shopping and determined that other kinds 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 – which means $6 pays as being a commission to the store for every $15 purchase. Mary A. immediately worked out 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 marketing strategy is totally necessary to the prosperity of your idea. Partnering with marketing company that you simply can trust and depend on will pay big dividends inside the long run and should not be overlooked. What should you know about marketing companies? The majority of these companies are separated into two groups (I will 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. Along with been expensive, many companies that fit in with this group are accused of fraud and inventor should carefully consider who they really are working with. In the best case scenario, you might potentially lose your money and time; in worst-case scenario, along with losing money another person may take advantage of your invention (unless, needless to say, you had been fortunate enough to patent it!!)
2. Group B: These firms give inventor complete freedom in marketing their idea. Inventors choose things to say and focus on emphasize areas they think are most pertinent for their invention. I would personally like to point out IdeaJets website (www.ideajets.com):
IdeaJets is actually a marketplace where individuals with ideas and companies who look for sharp minds meet. Along with 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 those to further enhance their chances to achieve success. As of right now, IdeaJets is totally free!
Conclusion and some Final Thoughts:
As one can see, it takes a lot of patience, preparation and perseverance on the part of inventor to succeed. The most important thing would be to not get discouraged by the presence of competition and potential rejections. As I mentioned inside my article, levels of competition are good and healthy. In case your competitor is enjoying a great success with the product much like what you’ve developed, then this means that the item that you are working 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 each of the kinks and produced an entire-scale (or scaled-down) version of your product. Once 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. Put on paper and document all your findings since you may forget some details down the road and realize that the data you painfully need is gone. In general, attempt 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 may try to work or partner with will require you to produce Business Strategy documentation. Lacking one will force you to definitely produce Business Strategy documentation almost overnight and this is simply not always easy. My suggestion to you personally – start working on the Business Plan through the very beginning and save yourself from having sleepless nights! And 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!