Hobbyist and seamstress Diane made 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 across the country. 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 combined with the product development company to take her sewing hobby craft product to market.
#1 – Signing of a confidentiality / Non-disclosure agreement
If your invention is not patent pending or has not yet received a patent it is usually a smart idea to have a confidentiality / Non-disclosure agreement. Select how much information you can make public or divulge using the Invent Help Inventors that you decide to work with.
#2 – Send your product concept to the product development and marketing company
You ought to choose the right product development company to your invention idea. Create the choice through the connections they may have with big manufacturing companies or big box retail stores. Foe example, in case your idea is actually a household item, then pick a company that has experience developing and promoting household products. You wouldn’t want to select a company that does not have experience in the related market of your invention.
#3 – Review of product, advising of possible changes
Pay attention to the item development company’s advice, and make recommended changes. What you should listen for are changes and suggestions that would enable you to place your invention within a retailers existing brand family. As an example, the product development company may suggest changing or adding a function that could complement a current brand’s look and elegance.
#4 – Overview of production and marketing possibilities
This maybe where you’ll need to rely on the product development companies advice by far the most, which is in the event you don’t already know the marketing possibilities. The marketing possibilities include who the client, or consumer lives. Also, how much the customer is prepared to pay and where the customer shops.
#5 – Investigate intellectual property protections
It is advisable to conduct consumer research before obtaining provisional patents or full blown patents. Patents can be very expensive and time intensive, ensure you know what Inventhelp Innovation will be and who will purchase your invention before trying to get a patent.
#6 – Fabrication of mock-up sample
Produce a model or prototype from the invention. A working prototype of the invention is the easiest method to work out any problems or functions of the idea. Most problems will surface while creating the prototype and save a lot of cash before the invention enters into full manufacturing production.
#7 – Showing of products to key account buyers
Chose and meet with potential customers, including manufacturing companies and large box retailers. Show off the invention personally whenever possible.
#8 – Gauge overall interest in product invention
Depending from the feedback and willingness to purchase through the account buyers chose the appropriate manufacturing capacity. When the account buyers only want to consider using a small test purchase first, it may be essential to start manufacturing small xqvfcq investing in expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the entire interest within the invention come to a decision to produce the Invention 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 ready available for sale.