Hobbyist and seamstress Diane created a unique invention called Seams Sew Fast. With the help of a marketing and product development company, her product has been sold in thousands of stores across the nation. Making Diane’s dream become a reality and now she is enjoying an exciting life as a successful inventor. Listed below are the 10 steps that she combined with the product development company to take her sewing hobby craft product to market.
#1 – Signing of any confidentiality / Non-disclosure agreement
In case your invention will not be patent pending or has not yet received a patent it is usually a good idea to possess a confidentiality / Non-disclosure agreement. Decide how much information you can make public or divulge with the Inventhelp George Foreman Commercial that you want to work with.
#2 – Send your product or service concept for the product development and marketing company
You need to choose the right product development company for your invention idea. Make the choice through the connections they may have with big manufacturing companies or big box retail stores. Foe example, in case your idea is really a household item, then select a company which includes experience developing and promoting products in the home. You wouldn’t wish to pick a company that does not have experience in the related market of your own invention.
#3 – Report on product, advising of possible changes
Tune in to the product development company’s advice, and make recommended changes. What you ought to listen for are changes and suggestions that could help you place your invention inside a retailers existing brand family. As an example, the merchandise development company may suggest changing or adding a function that could complement an existing brand’s look and design.
#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 client, or consumer lives. Also, exactly how much the consumer is willing to pay and in which the customer shops.
#5 – Investigate intellectual property protections
It is advisable to conduct researching the market before applying for provisional patents or full blown patents. Patents can be extremely expensive and time intensive, ensure you know what Innovation will likely be and that will buy your invention before applying for a patent.
#6 – Fabrication of mock-up sample
Develop a model or prototype in the invention. A working prototype of the invention is the best 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 is put into full manufacturing production.
#7 – Showing of items to key account buyers
Chose and talk with potential buyers, including manufacturing companies and large box retailers. Show off of the invention in person whenever possible.
#8 – Gauge overall interest in product invention
Depending of the feedback and willingness to get from the account buyers chose the appropriate manufacturing capacity. If the account buyers only desire to use 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 general interest in the invention decide to produce the Inventhelp Inventor yourself or license the invention to some retailer or manufacturing company. If you wish to manufacture the invention yourself you may need start-up capital or investment funding. In the event you decide that the start-up pricing is excessive consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention is made, manufactured, packaged, and prepared for sale.