Hobbyist and seamstress Diane developed a unique invention called Seams Sew Fast. With the aid of a marketing and product development company, her product has been sold in thousands 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 any confidentiality / Non-disclosure agreement
In case your invention is not really patent pending or has not yet received a patent it is usually a smart idea to possess a confidentiality / Non-disclosure agreement. Select how much information you can make public or divulge with all the Inventors Helpline that you want to work with.
#2 – Send your product or service concept to the product development and marketing company
You ought to choose the right product development company to your invention idea. Have the choice through the connections that they have with big manufacturing companies or big box retailers. Foe example, in case your idea is 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 the invention.
#3 – Review of product, advising of possible changes
Tune in to the product development company’s advice, and make recommended changes. What you ought to listen for are changes and suggestions that will assist you to place your invention within a retailers existing brand family. For example, the merchandise development company may suggest changing or adding a feature that would complement an existing brand’s look and style.
#4 – Review of production and marketing possibilities
This maybe where you’ll need to 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 customer, or consumer lives. Also, how much the client is prepared to pay and where the customer shops.
#5 – Investigate intellectual property protections
It is recommended to conduct researching the market before trying to get provisional patents or full blown patents. Patents can be very expensive and time intensive, make sure you know what Inventhelp Invention Marketing will be and that will purchase your invention before applying for a patent.
#6 – Fabrication of mock-up sample
Produce a model or prototype in the invention. A working prototype of your 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 goes into full manufacturing production.
#7 – Showing of items to key account buyers
Chose and meet with potential customers, including manufacturing companies and large box retail shops. Show off of the invention in person as far as possible.
#8 – Gauge overall interest in product invention
Depending of the feedback and willingness to buy from your account buyers select the appropriate manufacturing capacity. When the account buyers only want to consider using a small test purchase first, it may be necessary to start manufacturing small xqvfcq purchasing 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 manufacture the Patent Inventhelp 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. Should you think that the beginning-up pricing is too high consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention was created, manufactured, packaged, and prepared available for sale.