The journey from idea to product is never easy, It is filled with obstacles and challenges at every twist and turn. If you have an idea with great business potential, this blog is for you. Here you will learn how to invent a product by overcoming all the challenges that you will face in your journey, from inception to product launch.
Step 1: Document It
First and foremost, you must put your idea on paper. This will allow your potential investors or partners to get a holistic view of the product, its market potential, and other finer details for turning your idea into a successful product.
Documentation also helps you overcome the bottlenecks you may face when filing an application for a patent. Here a few things to keep in mind during the documentation of your idea:
- Be professional when writing down your product details such as the description, purpose, benefits, and drawbacks of your invention.
- Don’t forget to mention a date on top of every page.
- Organize all the documents in a file and label them for future reference.
Step 2: Do Ample Research
What if somebody has already launched a similar product that you are not aware of?
Unless you are planning intergalactic space travel, it would be naive to believe that your idea is unique and you are the only one to have thought of such a solution. Even if it is so, it would be wise to do some research.
You can start your research from the U.S. Patent and Trademark Office (USPTO). Here you will find all the information you need to ensure that your idea will have no legal conflicts and that there are no similar patents to the idea that you are working on.
Research helps you across a number of fronts:
- It helps you identify your market and target audience
- It helps you learn in details about your competitors
- It helps you determine the key USP of your product vs the competitors.
Step 3: Find a Co-founder
Whether you plan to launch your product locally or you are targeting offshore markets, you are bound to face competition and challenges at every level, from product development to its launch.
Maybe you are good at product development and handling operation, but you lack the financial acumen to understand market trends and behavior. Or, maybe hiring isn’t your area of expertise.
This is where a co-founder can step in and make the journey more fruitful and less troublesome for you.
You must have heard the story of a garage in California where two friends who happened two shares the same first name invented the computing industry that we know today.
Apple was founded by Steve Jobs and Steve Wozniak in the laters garage. While Jobs was a marketing genius and an exceptional leader, Wozniak was the one who was in charge of product development.
However, co-founder disputes are common occurrences, and hence it is very important that you join hands with someone who aligns with your goals, turns your weakness into strength, and is passionate about the idea as you yourself are.
Step 4: Create a Virtual Prototype
Thanks to technology, it is now possible to create virtual prototypes for your product ideas. Even if you have no expertise in computer design, you can hire an expert or freelancer who is an expert in AutoCAD, 3D Animations, and other popular software. A virtual prototype helps you visualize exactly how your product will look and behave.
Step 5: Create a Physical Prototype
Once your virtual prototype has assumed the form that is in line with your product vision, you should start working on creating a physical prototype. You should be prepared for multiple iterations and changes depending upon feedback from your team and a small group of test ideation. Once you create a prototype that reflects your vision and meets your expectations perfectly, you must complete the next and final step before you start production.
Step 6: File a Patent
To secure your patent you must file an application and submit all supporting material and documentation with the Patent Services USA. However, before filing your application don’t forget to confirm whether you need to file a utility patent or a design patent. In case of confusion or ambiguity, it is always wise to hire an attorney.
You can also use online patent services to save time and money. All you need to do is visit their website and fill in their query form. Depending on your needs, you will be assigned an expert who will do all the heavy lifting on your behalf.
Final Words
Turning your invention into a successful product is always a work in progress. As an entrepreneur or business owner, you must stay focused and always willing to adapt according to market needs and trends. Hope the information we shared will be helpful for you. All the best!