Hobbyist and seamstress Diane developed a unique invention called Seams Sew Fast. Through the help of a marketing and product development company, her product has been sold in 1000s of stores across the nation. 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 used with the product development company to take her sewing hobby craft product to market.
#1 – Signing of a confidentiality / Non-disclosure agreement
In case your invention will not be patent pending or has not yet received a patent it is always a good idea to have a confidentiality / Non-disclosure agreement. Choose how many details you can make public or divulge with the Inventhelp Technology that you choose to work with.
#2 – Send your product or service concept for the product development and marketing company
You need to pick the right product development company for your invention idea. Create the choice by the connections they have with big manufacturing companies or big box retail shops. Foe example, should your idea is a household item, then choose a company which has experience developing and promoting household products. You wouldn’t desire to choose a company that lacks expertise in the related market of the invention.
#3 – Report on product, advising of possible changes
Listen to the product development company’s advice, and make recommended changes. What you should listen for are changes and suggestions that would assist you to place your invention within a retailers existing brand family. For instance, the merchandise development company may suggest changing or adding a feature that could complement a current brand’s look and elegance.
#4 – Overview of production and marketing possibilities
This maybe where you’ll have to rely on the product development companies advice the most, which can be if you don’t already know the marketing possibilities. The marketing possibilities include who the consumer, or end user lives. Also, how much the customer is prepared to pay and in which 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-consuming, make sure you know what Invention Idea Help will likely be and who can purchase your invention before applying for a patent.
#6 – Fabrication of mock-up sample
Develop 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 lots of money before the invention is put into full manufacturing production.
#7 – Showing of products to key account buyers
Chose and meet up with possible buyers, like manufacturing companies and large box retail stores. 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 through the account buyers select the appropriate manufacturing capacity. In the event the account buyers only want to try a small test purchase first, it may be essential to start manufacturing small xqvfcq purchasing expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the general interest inside the invention come to a decision to manufacture the How To Pitch An Idea To A Company 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 think that the start-up costs are too high consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention was created, manufactured, packaged, and prepared available for sale.