Everything you see around yourself, including every item you own, every book you’ve ever read, every app you use, and every website you visit, was once just an idea in someone’s head.
You are thousands of miles away from that plane. The memory foam pillow in your bed. The headache pills. Your toothbrush. Your guitar. The internet. All of these amazing things started as dreams.
It’s easy to see the world in a cluttered library of ideas. This is the best proof that invention is possible. You can also dream and make it a reality by watching others do it.
The trick to inventing something is to stick with the process or go from idea to invention and market. Thomas Edison best summarized this: “Genius is one percent inspiration and ninety percent perspiration.”
If you believe you have a brilliant idea, you should be ready to do the work to make it a reality. It’s not as difficult as you might think.
Two things are the foundation of every great idea:
- It must solve a problem that affects a particular group of people.
- The end-user should find the idea simple.
Before developing and manufacturing the invention, simplify it as much as possible. Concentrate on the key features that solve your problem.
- It is important to remember that a simpler product allows engineers and designers to concentrate on the most important features. A simpler product means fewer defects and happier customers.
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This is the key to developing a great idea. These nine steps will guide you to your goal.
You might be wondering how to start inventing. To begin the development process, you must make thoughtful decisions about your idea.
Here are some key points to consider:
- Can you create and market your invention by yourself?
- Are you looking for royalty payments or lump-sum payments?
You need to consider these factors to determine what is right for you and how it will affect your life.
If marketing and manufacturing are what you want to pursue, then be ready to start your own business.
This makes your invention more successful and earns you a larger payout. However, it also means that there is a long process ahead. If you decide to take this route, hard work will pay off.
You have two options for licensing: you can receive royalties from the company you sell your idea to, or you can get a lump-sum payment. Although royalties sound appealing, they may not be as lucrative as if you had to market your invention yourself.
The royalty rate is usually between 2-5% of the company’s gross profit. You will receive a lump-sum payment from the company purchasing your idea. You are selling your rights to your idea.
These companies will mitigate risk, no matter which option you choose. You should consider how to make an invention prototype. This will allow you to sell units once your product prototype is complete. It will also prove that your product is popular. Positive reviews from customers are a great thing.
Inventing new things is the best part. It’s about identifying which problems you want to solve, and what problems others have. You may have found a solution to a problem or a better way to solve it.
Conceptualization is the most important phase of your invention’s life cycle. You don’t need to solve a new problem. All you have to do is come up with your solution.
However, life is short. We suggest that you solve a problem worth solving. Look at Elon Musk, he solves the problems of electric cars and going to Mars, both of which are worthy of your time.
Here are some key points to consider:
- Is there a problem my invention solves?
- Who is my target audience?
- Exist any products already on the market?
- How big is the market?
- How saturated is the market?
- Are you able to direct others in the building of your invention?
Your next step is mentally preparing yourself for the execution of the idea that you have chosen.
When first-time inventors think about how to invent an invention, one thing that many forget is that the idea itself is only part of the process.
Your job does not end once you have the idea. To see the invention through, requires strategic planning, self-motivation, and excellent developers.
You don’t have to quit your job to develop an invention. Especially if you are partnered with a development firm to design, engineer, and bring your vision to reality.
However, your invention will require a long-term commitment.
After you have mentally prepared and organized yourself, it is time to start researching how to make an invention that will be successful in a particular market.
Market research is a great way to find out if your product is selling well and who your competitors are. You should pay attention to the following:
- Name of your product,
- Price range, materials used,
- Claims it makes,
- Competitors if you have any competition.
This research can be done online but it is also possible to do it in person. Visit a store you feel would be a good fit for your product. Look at what is on the shelves and see where your product might fit in a store like it.
how to patent your product.
Look for patent numbers if you discover similar products while doing your research. However, not all patent-protected products can be sold in stores. To ensure you aren’t infringing upon another’s ideas, you will need to conduct an internet search.
The U.S. Patent and Trademark Office is an excellent resource for learning more about intellectual property. They have created a 39-minute step-by-step video course that will guide you through conducting a preliminary U.S. Patent Search. To see if similar ideas are patented, you can also use Google’s Patent Search.
Be concerned if you find a patent that is similar to yours. The way the patent is written can make all of the difference. Contact a patent attorney if you need assistance at this stage. A regular lawyer is not the same as a patent attorney. Only the latter can be licensed to practice before USPTO.
Online surveys can be a great way to gauge interest in your idea. You won’t likely have a patent at this stage so be more specific. If your idea involves a new method to remove cat litter sand, you might ask people what they think about the process. You don’t have to give your idea away, but you can get information about people’s problems.
If your product is made of similar materials and does not include any extra bells or whistles, it can be priced between the lowest and highest price for comparable products. You could also base your price on the cost of materials or manufacturing.
Market research on Licensing
To find potential licensees, do market research. Licensees are companies that agree to manufacture or sell your product idea. Licensees are similar to book publishers. They usually pay you royalties for every product you sell. Licensees take care of all the work: shipping, marketing, production, liability, and so forth.
You can find potential licensees by looking for similar products to yours and then looking for the manufacturer’s name. It’s usually right on the package! Once you have patented your idea, compile a list.
To identify the key features of your proposed product, create a “sell sheet” after your market research. A “sell sheet” is usually a brief description of your product that is one page long. Its sole purpose is to attract buyers and licensees or attendees at trade shows to be excited about it.
Here are some key points to consider:
- Is the product protected by a patent?
- Is my invention superior to theirs?
- What is the best product design?
- What is the efficiency of the product design?
- Are mine eco-friendlier?
- Is mine more expensive to make?
- Is there any additional benefit to my product?
Market research can help you determine if your idea is viable or not. These questions will help determine when and how to make an invention prototype.
To be successful in achieving product goals, we want you to feel excited about your idea. Most inventions are modifications or combinations of products already in existence. Never give up!
All details should be documented. Keep track of every step for legal and organizational protection.
Protect your privacy, and confidentiality and refuse to disclose any information to anyone. Make sure you have your idea printed so that you are protected in case of an emergency.
Do not hesitate to create disclosure documents wherever you feel it is necessary.
The fun part is now: designing the invention. This stage helps you test the functionality as well as locate any weaknesses/improvements to be made.
To bring your 2D idea to life, you can create 3D computer-aided-designs. Visualization is crucial in understanding the true product design and creating an invention prototype.
Mechanical and electrical designs are essential to fully understand how your product will work.
If you design carefully, you can reduce the number of prototypes. These prototypes can be used to help you start your pitching to an individual who is evaluating your idea, whether you are building the MVP version or the near-final prototype.
Now is the time to be serious and apply for a Patent.
A provisional patent is recommended to protect your invention for 12 months. After you’ve created an invention prototype, it is possible to test the product and market it yourself before you apply for a full-blown patent called a utility patent at the end of the 12 months.
Next, look for manufacturers if you are looking to start their own business and have a particular focus on their invention. This is not required for those who are looking to license.
Many products are made up of multiple parts. You may need to look for more than one manufacturer depending upon the product’s complexity. It is possible to search for different companies for each task. You might need to look for different companies for each task, such as parts manufacturing, assembly, and packaging.
It is also a smart idea to outsource your manufacturing work to keep your company competitive in the global market.
Now go get your new invention and protect your new idea with us.