Hobbyist and seamstress Diane made a unique invention called Seams Sew Fast. Through the help of a marketing and product development company, her product has been sold in a large number 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 combined 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 a good idea to have a confidentiality / Non-disclosure agreement. Decide how many details you can make public or divulge using the Inventhelp Patent Information that you want to work with.
#2 – Send your product concept towards the product development and marketing company
You need to select the right product development company for the invention idea. Make the choice by the connections they may have with big manufacturing companies or big box retailers. Foe example, in case your idea is actually a household item, then select a company that has experience developing and promoting household products. You wouldn’t want to pick a company that lacks experience in the related market of your invention.
#3 – Overview of product, advising of possible changes
Pay attention to the item development company’s advice, and make recommended changes. What you need to listen for are changes and suggestions that could 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 feature 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 by far the most, that is should you don’t already know the marketing possibilities. The marketing possibilities include who the customer, or end user lives. Also, just how much the consumer is ready to pay and in which the customer shops.
#5 – Investigate intellectual property protections
It is best to conduct researching the market before trying to get provisional patents or full blown patents. Patents can be extremely expensive and time intensive, ensure you know what Inventhelp Product Licensing is going to be and who can buy 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 simplest way to work out any problems or functions in the idea. Most problems will surface while creating the prototype and save a lot of money before the invention is put into full manufacturing production.
#7 – Showing of merchandise to key account buyers
Chose and talk with potential customers, such as manufacturing companies and big box retailers. Show off of the invention in person as much as possible.
#8 – Gauge overall interest in product invention
Depending from the feedback and willingness to purchase from the account buyers chose the appropriate manufacturing capacity. If the account buyers only want to try a small test purchase first, it may be essential to start manufacturing small xqvfcq investing in expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the overall interest in the invention come to a decision to produce the Invent Help yourself or license the invention to some retailer or manufacturing company. If you choose to manufacture the invention yourself you may need start-up capital or investment funding. Should you think that the start-up expenses are too much consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention was created, manufactured, packaged, and ready for sale.