Great ideas for inventions to change the world happen all the time. A strong idea can become the foundation for a profitable business, regardless of whether you aim to profit from sports or some other high-interest commodity. Many ideas don’t get past the idea stage, though. A would-be entrepreneur who just had a good idea has to make the right moves to ensure their idea becomes a profitable product. Nonetheless, the path from idea to product can be a straightforward one if you follow the right steps. Here are the 5 steps to take your invention from idea to product.
Write Your Idea Down
The first step is to sketch out your product in detail. No matter how detailed your idea seemed in your head, you are likely to find some holes in the design to be addressed. You can also flesh out details and refine other aspects of the idea. Using a computer, you can even put together 3-d rendering of the product and work out the design. These files can also be useful in preparing a patent. This step is translating the immaterial and changing idea you had into a solid design with which to build the product.
Research, Research, Research
Now that you’ve fleshed out the idea, you need to make sure it is marketable before you ever start dreaming big ideas up to improve your home office atmosphere. Before going farther in development, you should do due diligence on the market. The most important part of this is doing research on patents and intellectual property filings that might over lap with your idea. This ensures your invention is original. You will also need to determine if there is a market for your product. You should treat inventing this device as a business form the start. An important step to any business decision is to prove that it will net you a profit. Do not let the thrill of invention take you in an unprofitable direction. Do your research.
Build A Prototype
With everything worked out on paper, it is time to build your first prototype. Your prototype should let you test each of the products functions. Feel free to take time and investigate at this stage. Multiple prototypes may be needed to reach a working model. Do not feel bad if it does not work the first time, or even the first ten times. This trial and error experimentation is the best way to produce a working product. Keep building and testing until you have a working prototype that can do everything you want the final product to do.
You should now consider whether or not to get a patent. A patent can be a useful tool to ensure other companies don’t steal you product. They are also expensive and time consuming. As well, there are some products that won’t be patentable. A good way to determine whether as patent is the right fit is a Provisional Patent Application or PPA. The PPA will give you patent protection for 12 months while you refine the idea. After that you can file for an ordinary patent. This process takes a long time though. So if you don not think you will be granted one, it might be best to move on to marketing without it.
Market Your Product
The final step is to bring your product to market. To do this you first need to write a business plan and find your business’s core values definition. This plan should outline how you will produce the product and where and for how much it will be sold. You can then use this plan to attract financiers and market your product. This might seem the most daunting step, since it is focused on the business side of the enterprise. However, as an entrepreneur, you need to have a firm root in both creative and business environments.
Developing an idea into a product can be easy with the right steps. Translate your idea onto paper and fill in any gaps. Research the market and confirm the product has a place in the market. Build and test prototypes until you have one that works perfectly. Consider a patent for your product. Build a business plan and market you product. With these steps accomplished your product will be ready to go out into the world and profit.