Today’s world is a world of constant changes. Nowadays, we are surrounded by new technical and technological achievements. Therefore, if you are engaged in the inventions – you must quickly follow and accept these changes. This, of course, concerns not only your ideas – but also the way you need to market them and “sell” them one day. After all, the goal of every inventor is to place his idea on the market and make it available to the general population. However, on the way from the idea to its market penetration and selling your invention – you have to go a certain way. So, here are the 6 steps you need to take to sell your invention idea.
Inventions Are A Manifestation Of Scientific And Technical Progress
Innovation serves the development of the market, but also the development of the economy and the entire society. The shortest and simplest explanation is that an invention is something new, that wouldn’t exist without human intellectual activity or creativity. Innovations and inventions are the results of creative work – that end with changing some solutions in practice. It is the way of transforming ideas into something completely different from the previous or existing ones. Inventions and innovations can serve as a means of adapting to changes in the environment. For example, it could be a discovery, or an invention that will be useful to us – or a new method of producing, a new type of product, etc. Inventions and innovations are a manifestation of scientific, technological, technical – and today IT progress.
The Path From The Birth Of An Idea To Its Placement And Sales
The process of creation and use of inventions takes place through seven phases, namely: the birth of an idea, design of an idea, production and testing of prototypes, protection of inventions, determination of economic justification of transition to regular production, regular production, sale of an innovative product on the market.
1. The birth of an idea
Not all ideas lead to invention and innovation. Nevertheless, a large number of ideas provide us with a chance for further development. Thus, we can translate some of our ideological potentials into real possibilities for growing into innovations. Still, it takes effort. The idea needs to be worked on, improved technically and technologically – so that one day it will be transformed into a real product that will find its place on the market.
2. Design and patent your ideas
When you come up with an idea, it is quite certain that you have to further develop it and then think of patenting. Patenting your idea is a very important process – because as an inventor you start and retain the right to exploit your idea in practice. Patenting also involves very extensive technical documentation of your invention, which must be submitted to the patent office for application and verification. If your invention has the potential to break into the international market – you need to implement international protection of your idea. Of course, this procedure is very extensive and can be confusing. However, you can turn to experts in this field such as Invent Help – who will help you with their expert advice and guidelines. For more information about how they work, visit kulturehub.com and read their blog.
3. Make A Prototype Before You Finalize Your Idea
If a picture is worth more than 1000 words, then a prototype is worth more than 1000 meetings. Prototyping is an integral part of the design thinking methodology and creating an excellent user experience – as it allows us to quickly test our ideas and improve them in the short term. To get feedback on whether you are going in the right direction, you need to show a prototype of your idea to your future customers.
4. Should I Sell A Patent To Others Or Start My Own Company?
This is perhaps the most difficult question for any inventor. Namely, each of them will tell you that all inventions are like his children – so it is difficult for him to let them go. However, you must keep in mind that opening your own company that will produce and sell your invention, and its marketing, as well as many other things – takes a lot of money. When you add that up with the money you’ve already invested in the invention and patenting itself – it may not pay off. Therefore, think carefully and consult with experts in this field before making a final decision.
5. Make A Good Business Plan
Having a good business plan is very important for the future of your invention and its sale. Therefore, you must determine in advance whether your invention can be sold on the market, what are the competitors, what are the target markets, what quantities can be sold, etc. Also, you need to think about mass production. Are there possibilities for the production of your invention? What technology is needed, and is it available? There is certainly the issue of finances. You need to know from the start how much money is needed, who the potential investors and creditors are – as well as what the expected income and expenses are.
6. Appear At Innovator Fairs
Make your idea, invention, or innovation visible to everyone – or, if you wish, make it visible only to proven investors. Present your work in the best possible way and in the best possible places – and these are professional innovation fairs. Just like industry fairs, they can be very useful for your connections with future investors who are willing to invest money wisely. So, look at this as an additional chance for your invention to finally come into production and use.
The Bottom Line
We are sure that you understand that an invention must go through a certain procedure before it can be placed on the market. Therefore, when you go through all these steps – you can expect sales and market penetration. We wish you good luck in this business.