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 throughout the country. 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
Should your invention is not really patent pending or has not received a patent it will always be a good idea to have a confidentiality / Non-disclosure agreement. Choose how much information you can make public or divulge with the Patent A Product that you choose to work with.
#2 – Send your product concept to the product development and marketing company
You ought to pick the right product development company for the invention idea. Create the choice through the connections they may have with big manufacturing companies or big box retail shops. Foe example, in case your idea is a household item, then select a company which has experience developing and promoting household items. You wouldn’t wish to select a company that does not have experience in the related market of the invention.
#3 – Report on product, advising of possible changes
Tune in to the product development company’s advice, to make recommended changes. What you should listen for are changes and suggestions that would enable you to place your invention within a retailers existing brand family. For instance, the merchandise development company may suggest changing or adding a feature that would complement an existing brand’s look and design.
#4 – Report on production and marketing possibilities
This maybe where you’ll must 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 customer, or consumer lives. Also, exactly how much the customer 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, be sure you know what How To Pitch An Invention To A Company is going to be and that will purchase your invention before applying for a patent.
#6 – Fabrication of mock-up sample
Create a model or prototype from the invention. A working prototype of an invention is the simplest 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 enters into full manufacturing production.
#7 – Showing of products to key account buyers
Chose and meet with potential buyers, such as manufacturing companies and big box retail stores. Show off of the invention face-to-face as much as possible.
#8 – Gauge overall interest in product invention
Depending from the feedback and willingness to get from your account buyers select the appropriate manufacturing capacity. If the account buyers only want to use a small test purchase first, it may be necessary to start manufacturing small xqvfcq making an investment in expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the entire interest within the invention come to a decision to produce the How To Sell My Invention Idea To A Company yourself or license the invention to a 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 think that the beginning-up pricing is excessive consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention is designed, manufactured, packaged, and prepared for sale.