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 thousands 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 the confidentiality / Non-disclosure agreement
Should your invention will not be patent pending or has not received a patent it will always be a smart idea to have a confidentiality / Non-disclosure agreement. Decide how much information you can make public or divulge with the Inventhelp Inventions Store that you choose to work with.
#2 – Send your product or service concept for the product development and marketing company
You should select the right product development company for the invention idea. Create the choice by the connections they have with big manufacturing companies or big box retail stores. Foe example, if your idea is a household item, then pick a company which has experience developing and promoting household items. You wouldn’t desire 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 item development company’s advice, making recommended changes. What you should listen for are changes and suggestions that would help you place your invention within a retailers existing brand family. For instance, the item development company may suggest changing or adding a characteristic that could 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 probably the most, that is should you don’t already know the marketing possibilities. The marketing possibilities include who the customer, or consumer lives. Also, exactly how much the customer is prepared 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 intensive, be sure you know what Make A New Invention will be and that will get your invention before trying to get a patent.
#6 – Fabrication of mock-up sample
Develop a model or prototype of the invention. A working prototype of your 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 enters into full manufacturing production.
#7 – Showing of items to key account buyers
Chose and meet with possible buyers, like manufacturing companies and large box retail shops. Show off the invention personally as far as possible.
#8 – Gauge overall interest in product invention
Depending in the feedback and willingness to purchase from the account buyers chose the appropriate manufacturing capacity. In the event the account buyers only desire to use a small test purchase first, it may be required to start manufacturing small xqvfcq making an investment in expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the general interest within the invention decide to manufacture the New Product Ideas yourself or license the invention to some retailer or manufacturing company. If you decide to manufacture the invention yourself you may need start-up capital or investment funding. If you determine that the start-up expenses are too high consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention is designed, manufactured, packaged, and prepared available for sale.