Hobbyist and seamstress Diane created a unique invention called Seams Sew Fast. With the aid of a marketing and product development company, her product has been sold in a large number of stores across the country. Making Diane’s dream becoming reality and now she is enjoying an exciting life as a successful inventor. Listed below 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
In case your invention will not be patent pending or has not yet received a patent it is always smart to possess a confidentiality / Non-disclosure agreement. Select how much information you can make public or divulge with all the Patent An Invention that you decide to work with.
#2 – Send your product concept to the product development and marketing company
You need to select the right product development company for the invention idea. Make the choice from the connections they may have with big manufacturing companies or big box retailers. Foe example, should your idea is a household item, then pick a company which 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 – Overview of product, advising of possible changes
Pay attention to the merchandise development company’s advice, and make recommended changes. What you need to listen for are changes and suggestions that would enable you to place your invention in a retailers existing brand family. As an example, the product development company may suggest changing or adding a characteristic that could complement an existing brand’s look and elegance.
#4 – Review of production and marketing possibilities
This maybe where you’ll must rely on the product development companies advice the most, that is in the event you don’t already know the marketing possibilities. The marketing possibilities include who the customer, or end user lives. Also, just how much the customer is willing to pay and where customer shops.
#5 – Investigate intellectual property protections
It is advisable to conduct consumer research before trying to get provisional patents or full blown patents. Patents can be extremely expensive and time-consuming, ensure you know what New Inventions is going to 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 an invention is the simplest 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 goes into full manufacturing production.
#7 – Showing of products to key account buyers
Chose and talk with potential buyers, like manufacturing companies and big box retail stores. Show from the invention face-to-face whenever 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. If the account buyers only desire to try a small test purchase first, it may be essential to start manufacturing small xqvfcq making an investment in expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the entire interest in the invention make a decision to produce the How To Pitch An Invention Idea To A Company yourself or license the invention to your retailer or manufacturing company. If you decide to manufacture the invention yourself you may need start-up capital or investment funding. In the event you determine that the beginning-up pricing is excessive consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention is designed, manufactured, packaged, and prepared for sale.