Hobbyist and seamstress Diane created a unique invention called Seams Sew Fast. Through the help of a marketing and product development company, her product has been sold in thousands of stores across 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 combined 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 is not patent pending or has not received a patent it is usually a good idea to use a confidentiality / Non-disclosure agreement. Decide how many details you can make public or divulge with the Inventhelp Inventor Stories that you decide to work with.
#2 – Send your product concept towards the product development and marketing company
You ought to choose the right product development company for your invention idea. Create the choice from the connections they have with big manufacturing companies or big box retailers. Foe example, should your idea is a household item, then select a company which has experience developing and promoting household items. You wouldn’t wish to select a company that lacks experience in the related market of your own invention.
#3 – Review of product, advising of possible changes
Tune in to the merchandise 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 in 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 design.
#4 – Report on production and marketing possibilities
This maybe where you’ll must rely on the product development companies advice probably the most, which is in the event you don’t already know the marketing possibilities. The marketing possibilities include who the customer, or end user lives. Also, how much the customer is ready to pay and in which the customer shops.
#5 – Investigate intellectual property protections
It is recommended to conduct market research before applying for provisional patents or full blown patents. Patents can be very costly and time consuming, make sure you know what Inventions Ideas is going to be and who will get your invention before obtaining a patent.
#6 – Fabrication of mock-up sample
Create a model or prototype of 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 merchandise to key account buyers
Chose and meet with potential buyers, including manufacturing companies and large box retailers. Show off the invention in person as far as possible.
#8 – Gauge overall interest in product invention
Depending from the feedback and willingness to buy from the account buyers chose the appropriate manufacturing capacity. In the event the account buyers only want to try 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 in the invention make a decision to manufacture the New Inventions 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. In the event you decide that the start-up expenses are too much consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention is designed, manufactured, packaged, and ready for sale.