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 1000s of stores across the nation. Making Diane’s dream becoming reality 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 the confidentiality / Non-disclosure agreement
In case your invention is not patent pending or has not received a patent it is always a smart idea to use a confidentiality / Non-disclosure agreement. Select how many details you can make public or divulge with all the Inventhelp Number that you want to work with.
#2 – Send your products or services concept towards the product development and marketing company
You should pick the right product development company for the invention idea. Make the choice from the connections they have with big manufacturing companies or big box retail shops. Foe example, should your idea is really a household item, then choose a company that has experience developing and promoting household items. You wouldn’t desire to select a company that does not have experience with the related market of your own invention.
#3 – Overview of product, advising of possible changes
Tune in to the product development company’s advice, to make recommended changes. What you ought to listen for are changes and suggestions that would help you place your invention in a retailers existing brand family. For example, the merchandise development company may suggest changing or adding a function that would complement a current brand’s look and style.
#4 – Overview of production and marketing possibilities
This maybe where you’ll need to rely on the product development companies advice by far the most, that is if you don’t already know the marketing possibilities. The marketing possibilities include who the customer, or end user lives. Also, exactly how much the consumer is willing to pay and where customer shops.
#5 – Investigate intellectual property protections
It is advisable to conduct market research before trying to get provisional patents or full blown patents. Patents can be very costly and time-consuming, make sure you know what Inventhelp Product Development will be and who will purchase your invention before obtaining a patent.
#6 – Fabrication of mock-up sample
Create a model or prototype from the invention. A working prototype of an invention is the best way to work out any problems or functions in the idea. Most problems will surface while creating the prototype and save a lot of cash before the invention is put into full manufacturing production.
#7 – Showing of products to key account buyers
Chose and talk with potential buyers, including manufacturing companies and big box retailers. Show off the invention personally as far as possible.
#8 – Gauge overall interest in product invention
Depending from the feedback and willingness to buy through the account buyers select the appropriate manufacturing capacity. If the account buyers only want to use a small test purchase first, it may be required to start manufacturing small xqvfcq purchasing expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the overall interest inside the invention come to a decision to manufacture the Inventhelp Licensing Expo yourself or license the invention to a retailer or manufacturing company. If you decide to manufacture the invention yourself you may need start-up capital or investment funding. Should you think that the beginning-up pricing is excessive consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention was created, manufactured, packaged, and prepared on the market.