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 1000s of stores throughout 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 any confidentiality / Non-disclosure agreement
Should your invention is not really patent pending or has not yet received a patent it will always be a good idea to use a confidentiality / Non-disclosure agreement. Choose how many details you can make public or divulge using the Inventhelp Prototypes that you choose to work with.
#2 – Send your product concept for the product development and marketing company
You should pick the right product development company for the invention idea. Create the choice from the connections they may have with big manufacturing companies or big box retail shops. Foe example, if your idea is a household item, then select a company which includes experience developing and promoting household products. You wouldn’t wish to select a company that lacks experience in the related market of the invention.
#3 – Review of product, advising of possible changes
Listen to the item development company’s advice, to make recommended changes. What you ought to listen for are changes and suggestions that would help you place your invention in a retailers existing brand family. As an example, the merchandise development company may suggest changing or adding a characteristic that would complement an existing brand’s look and design.
#4 – Overview of production and marketing possibilities
This maybe where you’ll must rely on the product development companies advice the most, which can be in the event you don’t already know the marketing possibilities. The marketing possibilities include who the consumer, or consumer lives. Also, just how much the consumer is willing to pay and in which the customer shops.
#5 – Investigate intellectual property protections
It is recommended to conduct consumer research before applying for provisional patents or full blown patents. Patents can be extremely expensive and time-consuming, be sure you know what Idea Inventhelp will likely be and that will get your invention before obtaining a patent.
#6 – Fabrication of mock-up sample
Produce a model or prototype of the invention. A working prototype of your invention is the simplest way to work out any problems or functions in 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 meet up with potential customers, like manufacturing companies and large box retail shops. Show off of the invention personally 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 consider using a small test purchase first, it may be required to start manufacturing small xqvfcq purchasing expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the overall interest within the invention come to a decision to manufacture the New Invention Ideas yourself or license the invention to a retailer or manufacturing company. If you choose to manufacture the invention yourself you may need start-up capital or investment funding. In the event you determine that the beginning-up costs are too high consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention is made, manufactured, packaged, and ready available for sale.