Hobbyist and seamstress Diane developed a unique invention called Seams Sew Fast. Through the help of a marketing and product development company, her product has been sold in a large number of stores across the country. Making Diane’s dream become a reality and now she is enjoying an exciting life as a successful inventor. Here are the 10 steps that she used with the product development company to take her sewing hobby craft product to market.
#1 – Signing of a confidentiality / Non-disclosure agreement
In case your invention will not be patent pending or has not yet received a patent it is always a good idea to have a confidentiality / Non-disclosure agreement. Select how much information you can make public or divulge using the Inventhelp Invention Idea that you decide to work with.
#2 – Send your products or services concept to the product development and marketing company
You should select the right product development company for the invention idea. Have the choice through the connections that they have with big manufacturing companies or big box retail shops. Foe example, should your idea is really a household item, then choose a company which includes experience developing and promoting household items. You wouldn’t want to pick a company that lacks experience with the related market of your own invention.
#3 – Review of product, advising of possible changes
Tune in to the item development company’s advice, making recommended changes. What you need to listen for are changes and suggestions that will enable you to place your invention inside a retailers existing brand family. For instance, the merchandise development company may suggest changing or adding a function that could complement a current brand’s look and elegance.
#4 – Report on production and marketing possibilities
This maybe where you’ll have to rely on the product development companies advice by far the most, which can be should you don’t already know the marketing possibilities. The marketing possibilities include who the client, or end user lives. Also, just how much the consumer is prepared to pay and in which the customer shops.
#5 – Investigate intellectual property protections
It is advisable to conduct consumer research before applying for provisional patents or full blown patents. Patents can be extremely expensive and time consuming, make sure you know what Ideas For Inventions will likely be and who will purchase your invention before trying to get a patent.
#6 – Fabrication of mock-up sample
Produce a model or prototype of the invention. A working prototype of an invention is the easiest method to work out any problems or functions from the idea. Most problems will surface while creating the prototype and save a lot of cash before the invention is put into full manufacturing production.
#7 – Showing of products to key account buyers
Chose and talk with potential customers, such as manufacturing companies and large box retail stores. Show from the invention personally whenever possible.
#8 – Gauge overall interest in product invention
Depending of the feedback and willingness to buy from your account buyers select the appropriate manufacturing capacity. In the event the account buyers only desire to try a small test purchase first, it may be required to start manufacturing small xqvfcq making an investment in expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the entire interest in the invention decide to produce the Patenting An Idea yourself or license the invention to your retailer or manufacturing company. If you choose to manufacture the invention yourself you may need start-up capital or investment funding. If you decide that the beginning-up pricing is too much consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention was created, manufactured, packaged, and prepared on the market.