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 throughout the country. Making Diane’s dream becoming 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
Should your invention is not patent pending or has not yet received a patent it will always be smart to use a confidentiality / Non-disclosure agreement. Select how many details you can make public or divulge with the Inventhelp Invention Prototype that you want to work with.
#2 – Send your product concept towards the product development and marketing company
You need to pick the right product development company for your invention idea. Have the choice through the connections they have with big manufacturing companies or big box retail shops. Foe example, in case your idea is a household item, then select a company that has experience developing and promoting products in the home. You wouldn’t desire to pick a company that lacks expertise in the related market of your invention.
#3 – Overview of product, advising of possible changes
Listen to the merchandise development company’s advice, making recommended changes. What you need to listen for are changes and suggestions that could help you place your invention inside a retailers existing brand family. For instance, the merchandise development company may suggest changing or adding a function that will complement an existing brand’s look and style.
#4 – Report on production and marketing possibilities
This maybe where you’ll must 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 consumer, or end user lives. Also, just how much the customer is willing to pay and in which the customer shops.
#5 – Investigate intellectual property protections
It is best to conduct market research before trying to get provisional patents or full blown patents. Patents can be extremely expensive and time intensive, be sure you know what Market An Invention Idea is going to be and that will purchase your invention before obtaining a patent.
#6 – Fabrication of mock-up sample
Produce a model or prototype of the invention. A working prototype of an invention is the best way to work out any problems or functions from the idea. Most problems will surface while creating the prototype and save a lot of money before the invention is put into full manufacturing production.
#7 – Showing of merchandise to key account buyers
Chose and meet with potential buyers, including manufacturing companies and big box retail shops. Show from the invention face-to-face 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 want to consider using a small test purchase first, it may be necessary to start manufacturing small xqvfcq investing in expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the overall interest inside the invention come to a decision to manufacture the Invention Help yourself or license the invention to a retailer or manufacturing company. If you decide to manufacture the invention yourself you may need start-up capital or investment funding. Should you determine that the start-up pricing is excessive consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention was created, manufactured, packaged, and prepared on the market.