So, a little light bulb inside you head has lit up and you are struck with the concept 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 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 assure you that in the end you will be happy that you took my advice.
Before we proceed with all the discussion, I would like to provide a few words of wisdom. While dealing with your idea you will encounter those who will criticize your work and try to discourage from forging ahead. A few of the How Do You Patent An Idea will likely be deserved and must be considered. When you see which a valid point is raised which you never imagined 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 certainly not based upon any facts.
When you figure out how to separate these two, you may be better of. My advice for you –
– Don’t be afraid to question professionals, since the majority of experts are certainly one-track minded and oblivious to other things
– Don’t be scared to challenge other people’s ideas, stand by your principles and become firm
– Don’t be scared to discover that your particular own idea is faulty. Pause, make corrections, re-analyze and move ahead
When you find yourself able to advertise your idea, you will need to handle large corporations. Stay in mind that the bigger the company is, the greater bureaucratic it really is. Many big companies lose focus and quite often hire employees who are either not qualified for the task, or just not thinking about what they are going to do. If you come across these folks who are attempting to make you feel insignificant (and your idea unimportant and impractical) don’t get discouraged from this – then chances are you will likely be better off working with smaller company that is certainly more focused and prepared to take risks!
Step 1 – Remain Focused and Clearly Document Your Idea
This method has huge benefits, because –
1. You will clearly define your idea/invention
2. While documenting your idea, you may find ways regarding how to expand your invention
Always try to use paper what exactly it is that you invented – precisely define your idea, its purpose, limitations and target audience. If you fail to precisely define your idea, then which means that you need to take a step back, re-analyze your thinking and simplify things. The most common error that individuals make at this point has ended-complicating their idea. A simple 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 gain benefit from the addition of extra items – a scissor as well as a screw driver. However, incorporating these items definitely makes the How To File A Patent larger and heavier. In order to create knife lighter, John K. goes back to the drawing board – he compromises his original, Automatic Push/Pull mechanism design in make an effort to accommodate unnecessary extra features who have nothing related to his unique design. By taking 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 subsequent – am I better off using the original mechanism or with pedestrian mechanism which has additional features? Are definitely the additional features even necessary?
The above example clearly illustrates the following – focus 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 Two Exploratory Stages – Determine whether your idea is exclusive
Once you’ve documented your idea, you should begin considering the following – how unique is my idea? In order to answer these questions, you will have to carry out some legwork and hit your local library and internet. Unless you allocated a lot of your budget to Patent Lawyers, that will do the research to suit your needs, you will be happier doing initial research by yourself. Why? Simply because you may discover on 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 reality that someone got to the similar conclusions as you, just a bit bit earlier is nice – you do have a competition! Level of competition is good, level of competition is healthy! Carefully examine competing product, even bring it apart, if required. Know what differentiates your idea from competitor’s, its limitations and just how successful was another person (or even a company) with marketing it. When you can see, you can actually learn from mistakes of others, avoid their mistakes and forge ahead fully mindful of competition along with their limitations.
Step 3 – Product Safety Considerations
Whether you opted to make a baby product or some kind of household appliance, an exclusive care ought to be taken in describing potential hazards associated by using your product or service. For example, if you invented a new toy created for small kids, try to generate a 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 fail using the operation of your product and find out ways regarding how to improve product safety. The questions that you simply may consider would be the following –
1. Am I using proper materials?
2. Maybe the part which has the most hazards ought to be redesigned?
Try to create a thorough list of parts that can be potentially hazardous and fix your design before you start out marketing your product. You may consider this step as unnecessary, but let me warn you – most marketing companies will require that you describe all Safety measures of the idea, and you might stay away from a while by doing preparations beforehand.
Step 4 – Demographics and Determining that will Use Your Product
Ones there is a clear picture of the product and you figured out all nuances of product design, make an effort to determine who can make use of your product, where and when. Try to ask yourself these questions –
1. Exactly what is the age bracket of audience?
2. Is my product created 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 stay up to date with competition. Additionally, knowing solutions to the aforementioned questions will allow you to in putting finishing touches on your own product. How? In case your product is designed for children, then it ought to be bright and colorful. Additionally, if your product is ideal for cold climate, you ought to avoid marketing it in areas where it’s hot all year long.
It is very likely that the item is tailored for certain industry (as an example, agricultural); then think of those who will manage to benefit the best from your invention! In case your product is made to work with specific soil or crops, then you definitely should target geographical region rich with desired characteristics. As one can see, this step demands a thorough research, planning and leg work; the rewards, on the other hand, will be payoff rewarding!
Step 5 – Produce Full or Small Scale Model of Your Product Or Service
It is extremely important to make a working model off of your idea. Why? With a real-life type of your idea (or even a scaled-down version of it), will help you –
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
In addition to the previously listed items, the ultimate model will allow you to psychologically. There is no better feeling then to be able to physically see and touch the roll-out of your very own mind! Because you are touching the real-life type of one last design will provide you with positive psychological boost comparable to not one other you’ve experienced during design process, motivating you even more to be successful!
The easiest method to approach this step is to attempt to draw on a bit of paper the last version of the product, how you will see it around this point in time. Your drawings should show your final idea/product under different angles, in a 2-D and 3-D. The photo might not be pretty because not a lot 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 continue to must work on. Furthermore, I strongly suggest that you simply generate your initial product prototype from clay or some other material that is readily available. Why? Because this prototype together with initial drawing can help you explain your idea to technical individual that, in turn, will transform your design into highly technical engineering drawing.
Once you prepared your model, try to determine what materials will 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 – will it be aluminum, copper or some kind of alloy? When you determined the essential materials, estimate production cost since the price that you’ll charge for the product will depend on the production expense of every 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 goes into production of your products or services allowing you to have a ball-park figure on the final expense of your product or service.
Step 6 – Estimate Cost and Gross Profit
When you determined that will make use of product and where (or perhaps your product’s market), it is time for you to think “big” – attempt to work out cost/benefit analysis of the product. Below is actually 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 created in a way 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 generate a full-scale version of Inventhelp Products made from clay. Before involving an engineer, Mary A. estimated that her product is going to be made entirely from plastic. The estimated production price of 1 bottle holder is $3.00 (we presume that this manufacturing plant is found in China and shipping costs are already factored in to the estimated production cost). Mary A. did comparative shopping and determined that other sorts of Baby Holders can sell around $15 dollars. Furthermore, 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 a commission towards 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 amount of 330 X 3 X 6 = $5940.
Step 7 – Product Marketing
Correct online marketing strategy is absolutely necessary to the success of your idea. Partnering with marketing company that you simply can trust and depend on will pay big dividends within the long run and must not be overlooked. What in the event 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 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 really are coping with. In the best case scenario, you might potentially lose all your money and valuable time; in worst-case scenario, along with losing money another person may take advantage of your invention (unless, needless to say, that you were lucky enough to patent it!!)
2. Group B: These companies 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 to their invention. I might like to point out IdeaJets website (www.ideajets.com):
IdeaJets is a marketplace where people who have ideas and firms who hunt for sharp minds meet. As well as helping you get a right partner who can help you realize your thoughts and dreams, IdeaJets also brings inventors in contact 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 those to further enhance their chances to achieve success. Since right now, IdeaJets is entirely free!
Conclusion and a few Final Thoughts:
As one can see, it takes lots 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, level of competition is good and healthy. Should your competitor is enjoying a positive results with the product comparable to what you’ve developed, then this means that the product that you are currently focusing on has great potential. Carefully examine competitor’s product and determine its weaknesses or vulnerabilities. This, needless to say, presumes that you simply finalized your initial design, worked out all of the kinks and produced a complete-scale (or scaled-down) version of your own product. Once you know enough about competitor’s product, carefully study your market and demographics – this should help you in designing marketing plan specifically tailored towards your products or services. Placed on paper and document your findings since you may forget some details down the road and realize that the info you painfully require is gone. In general, make an effort to incorporate all your findings xqvfcq to cost, market and demographic analysis into Strategic Business Plan and store it in a safe place! A lot of companies you will make an effort to work or partner with will require you to produce Business Plan documentation. Without having one will force you to produce Business Strategy documentation almost overnight and this may not be an easy task. My suggestion for you – begin working on the Business Plan from the very beginning and save yourself from having sleepless nights! Along with 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!