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From Prototype to Profit: 5 Tips on How to Turn Your Ideas into Products

August 15, 2018 Ryan Roberts

So you’ve just had a brilliant idea and are wondering if it’s too silly to bring to life. Hold on to it; all the products you’re currently using probably started off in the same way. Even a passing thought or a simple tweak to make things easier could be a revolutionary product that may very well turn your life around!

Do you have confidence in your idea, but not much information on how to turn a profit from it? If yes, you’ve come to the right place.

We’ll walk you through some of the initial steps needed to get your product out there successfully:

1. Get Someone Else In

The invention process involves quite a few steps, so don’t try to do everything on your own. Try to find a partner or inventor so you can diversify both the risk and investment sources. Going solo would empty your pockets, risk your savings, and probably cause you to burn out very soon.

Having a partner or several on board will not just make the burden lighter, but it will also give you a chance to benefit from someone else’s expertise. If not a partner, you should consult a professional so you can make sure that you have some experienced guidance.

If you want to develop a prototype, for instance, get in touch with a manufacturer. If you want to get a patent for your idea, get in touch with a lawyer. If you’re on the lookout for a co-founder or partner, find someone who is as passionate about the idea as you are. Preferably, they should also have some specific skills that you may not have.

2. Get Your Research Done

You may have the initial idea, but actually inventing a product takes a lot of research and knowledge behind it. Along with a large amount of investigation, there is also the need for resilience, patience, and hard studying beforehand.

Your research should also include making sure that no one already has a patent on what you’re planning to come out with. If you infringe upon a copyright or some intellectual property, you could get sued before your product officially launches!

Visit sites like the World Intellectual Property Organization or the United States Patent and Trademark Office so you can be sure you aren’t repeating an old patent. When you do get your patent, hire the services of a patent lawyer to protect it.

3. Make A Prototype

When you’ve cleared your path in the way of partners and legalities, you should focus on designing an actual prototype. Technology like 3D printing can help you out in this area, especially if you just want to get a low volume of products made first.

Let’s say you’re interested in manufacturing products related to ergonomic workstations, and you want an actual feel of how an ergonomic table for standing meetings looks like even before its mass production. To know if the design makes sense before it goes through the entire manufacturing process, you should create a prototype of your product and test it.

At this point, you also need to decide if you want to start manufacturing your product or license it out for someone else to make. You can get a license fee plus royalty payments in the latter option but would have to give up the right to manufacture and sell the product you came up with.

Make sure you consider the advantages and disadvantages of both options so you’re able to make the best and most informed decision.

4. Test It Out

First thing you should do is find out more about how to make a prototype of your product. There is a chance that your first prototype isn’t going to be perfect; nor the next, or the one after that. It’s probably going to take quite a few attempts to get just what you had in mind out into reality.

After tweaking your product, you should test it out and make any changes which seem beneficial. The best way to test out any innovation is to give it to a real consumer group. These test groups would ideally give you their honest opinion about your product.

5. Talk About It

No matter how excellent a product you have, people aren’t going to buy it unless you market it. Go on social media, pitch it to your close circle, and convince everyone to help spread the word. Create a great elevator pitch with stats, data, value statement, a hook, and a call-to-action.

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