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 country. Making Diane’s dream become a reality and now she is enjoying an exciting life as a successful inventor. 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 any confidentiality / Non-disclosure agreement
Should your invention will not be patent pending or has not yet received a patent it will always be a smart idea to use a confidentiality / Non-disclosure agreement. Decide how many details you can make public or divulge using the Inventhelp Phone Number that you want to work with.
#2 – Send your product or service concept to the product development and marketing company
You need to choose the right product development company for your invention idea. Make the choice by the connections they 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 that has experience developing and promoting products in the home. You wouldn’t want to pick a company that lacks expertise in the related market of your invention.
#3 – Overview of product, advising of possible changes
Tune in to the merchandise development company’s advice, to make recommended changes. What you need to listen for are changes and suggestions that could assist you to place your invention inside a retailers existing brand family. For example, the item development company may suggest changing or adding a function that could complement an existing brand’s look and style.
#4 – Review of production and marketing possibilities
This maybe where you’ll have to rely on the product development companies advice the most, that is in the event you don’t already know the marketing possibilities. The marketing possibilities include who the client, or consumer lives. Also, how much the consumer is willing to pay and where the customer shops.
#5 – Investigate intellectual property protections
It is recommended to conduct consumer research before applying for provisional patents or full blown patents. Patents can be extremely expensive and time consuming, make sure you know what How To Pitch An Invention To A Company will be and that will buy your invention before obtaining a patent.
#6 – Fabrication of mock-up sample
Produce a model or prototype in the invention. A working prototype of the invention is the best way to work out any problems or functions of the idea. Most problems will surface while creating the prototype and save a lot of money before the invention goes into full manufacturing production.
#7 – Showing of merchandise to key account buyers
Chose and meet with potential buyers, such as manufacturing companies and large box retail stores. Show off of the invention face-to-face whenever possible.
#8 – Gauge overall interest in product invention
Depending of the feedback and willingness to get from your account buyers chose the appropriate manufacturing capacity. If the account buyers only want 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 within the invention make a decision to produce the Inventhelp Office 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. If you think that the beginning-up costs are excessive consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention was created, manufactured, packaged, and ready available for sale.