Hobbyist and seamstress Diane developed a unique invention called Seams Sew Fast. With the help of a marketing and product development company, her product has been sold in a large number of stores across the nation. Making Diane’s dream come true and now she is enjoying an exciting life as a successful inventor. Listed 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 any confidentiality / Non-disclosure agreement
If your invention will not be patent pending or has not yet received a patent it is usually smart to have a confidentiality / Non-disclosure agreement. Decide how much information you can make public or divulge using the Inventhelp Tech that you choose to work with.
#2 – Send your product concept for the product development and marketing company
You ought to select the right product development company for your invention idea. Create the choice from the connections they have with big manufacturing companies or big box retail shops. Foe example, if your idea is actually a household item, then select a company which has experience developing and promoting products in the home. You wouldn’t wish to choose a company that does not have experience with the related market of your own invention.
#3 – Overview of product, advising of possible changes
Pay attention to the product development company’s advice, and make recommended changes. What you should listen for are changes and suggestions that will enable you to place your invention within a retailers existing brand family. As an example, the merchandise development company may suggest changing or adding a characteristic that would complement a preexisting brand’s look and design.
#4 – Review of production and marketing possibilities
This maybe where you’ll need to rely on the product development companies advice by far the most, that is if you don’t already know the marketing possibilities. The marketing possibilities include who the customer, or end user lives. Also, how much the consumer is prepared to pay and in which the customer shops.
#5 – Investigate intellectual property protections
It is advisable to conduct researching the market before obtaining provisional patents or full blown patents. Patents can be extremely expensive and time-consuming, be sure you know what How Do You Patent An Idea is going to be and that will get your invention before obtaining a patent.
#6 – Fabrication of mock-up sample
Develop a model or prototype from the invention. A working prototype of the invention is the best way to work out any problems or functions of the idea. Most problems will surface while creating the prototype and save lots of money before the invention is put into full manufacturing production.
#7 – Showing of products to key account buyers
Chose and talk with potential customers, like manufacturing companies and large box retail stores. Show off the invention in person as much as possible.
#8 – Gauge overall interest in product invention
Depending of the feedback and willingness to buy from the account buyers chose the appropriate manufacturing capacity. In the event the account buyers only desire to try a small test purchase first, it may be essential to start manufacturing small xqvfcq purchasing expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the general interest in the invention make a decision to manufacture the Patent My Idea yourself or license the invention to your retailer or manufacturing company. If you wish to manufacture the invention yourself you may need start-up capital or investment funding. If you decide that the start-up expenses are too much consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention is made, manufactured, packaged, and ready on the market.