Inventors Alert: 4 Steps To Convert An Idea Into A Salable Product

If you are an inventor, chances are you would like to find out the processes involved in converting your idea into a profitable product. A process has to be followed from idea conception to producing the actual product as well as distributing it.

Once you have a clear idea about your invention, documented how to turn your idea into a product, as well as protected your concept and product legally, then four steps has to be taken.

The very first thing you need to learn to do is to become familiar with prototyping and manufacturing. It is vital that you understand when to invest as well as when not to commit to manufacturing your invention. Moreover, you need to understand the best way to generate a prototype, the best time to do it, why you need to develop one in the first place, and the various stages, levels and kinds of prototypes. Also, you need to meet the men and women who do the prototyping from engineers to artists.

Next, you need to understand how to assess the market place. What this means specifically is identifying your prospective clients, visualizing who your ideal customer is, finding out your finest distribution channels, identifying the benefits and features of your product, as well as ascertaining the price points that are most favorable. Before you create a marketing plan, it is essential that you have all of this information.

Third, you have to identify the best sales distribution outlets. For this, you have to get a good understanding of the difference between licensing and direct sales, retailing and wholesaling, and the difference between consumer, commercial and industrial sales.

The very last step is to study the various types of manufacturing strategies. A few of the things you need to learn here is the difference among manufacturing runs versus sampling and between importing versus domestic.

Following these four steps is not easy. Each step is actually a study as well as a process. For this reason, you need to work with a team to tackle these steps. This includes locating an expert who will help you understand the steps better as well as direct you through them

Want to find out more about how to market your invention, then visit Franca Rothman’s site.

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