Hobbyist and seamstress Diane made a unique invention called Seams Sew Fast. With the help of a marketing and product development company, her product has been sold in 1000s of stores across the country. Making Diane’s dream come true and now she is enjoying an exciting life as a successful inventor. Listed below are the 10 steps that she used with the product development company to take her sewing hobby craft product to market.
#1 – Signing of any confidentiality / Non-disclosure agreement
If your invention will not be patent pending or has not yet received a patent it will always be smart to have a confidentiality / Non-disclosure agreement. Select how much information you can make public or divulge with all the Inventhelp Office Locations that you decide to work with.
#2 – Send your product or service concept for the product development and marketing company
You should pick the right product development company for your invention idea. Create the choice from the connections they have with big manufacturing companies or big box retail stores. Foe example, should your idea is a household item, then choose a company which has experience developing and promoting household items. You wouldn’t want to choose a company that lacks experience with the related market of your own invention.
#3 – Report on product, advising of possible changes
Listen to the product development company’s advice, making recommended changes. What you ought to listen for are changes and suggestions that would assist you to place your invention within a retailers existing brand family. As an example, the merchandise development company may suggest changing or adding a function that would complement an existing brand’s look and design.
#4 – Review of production and marketing possibilities
This maybe where you’ll have to rely on the product development companies advice by far the most, which can be should you don’t already know the marketing possibilities. The marketing possibilities include who the customer, or consumer lives. Also, just how much the client is willing to pay and where 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 extremely expensive and time intensive, make sure you know what Inventhelp Technology will likely be and that will 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 enters into full manufacturing production.
#7 – Showing of products to key account buyers
Chose and talk with possible buyers, like manufacturing companies and large box retail shops. Show off the invention personally as far as 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 want to consider using 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 overall interest within the invention decide to manufacture the Inventhelp Corporate Headquarters yourself or license the invention to your retailer or manufacturing company. If you wish to manufacture the invention yourself you may need start-up capital or investment funding. Should you determine that the beginning-up pricing is too much consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention is made, manufactured, packaged, and ready on the market.