It's been said that a bright “idea” is worthless until it's combined and recombined, again and again, with the right resources to achieve some worthy end. Here are ten “new product development” tips to get you started on the right path as the journey of transforming your product idea into an new invention. 1. Take your time and research…You've heard it said that when you open a local business, the threerules are location, location, and location. Well, the same is true for inventing a new product idea; however, the operative word is…research, research, and research. 2. Before you waste your time, effort, and hard-earned money and “ take action ” on an new product idea…think of at least 15 key word phrases that explain what it is you're making or designing. Then do a patent search, or better yet, hire an experienced patent attorney to do a patent search for you. Obviously, if your idea is patented already, you need to rethink the idea or move on to your next mind-boggling innovation. 3. In my opinion, patents are everything. Let me rephrase that… quality patents are everything. It is my belief that if you do not have a quality patent on your idea, you are again wasting your time, effort, and hard-earned money. If you have a major distribution outlet asking you to make a design, or is already set up and ready to ship your finished product, then skipping the patent process in this case may be okay. However, if your product starts flying off the shelf and there is no intellectual property protection of your idea/product, then someone or some entity with the money, resources, and time will move into that vertical market space. That isn't a just statement, that's a real guarantee. Even with a patent, copyrights, and trademarks, you still see knockoffs entering the market. Successful products get copied. They always have and they always will. 4. Number three and four coincide. Whether your product idea is simple or somewhat complex, it is to your advantage to build a prototype that will help with the patent process. It is even better to contract a CAD (computer-aided designer) to make a 3D image of your product idea. This helps improve your idea during the design process. If you want to go the extra mile, have a rapid prototype made from the CAD drawing. This will improve the quality of your design and help in the patent process. 5. This step is very crucial…like bringing home a stray dog, it just isn't right until you give it a name. It stops becoming an “it” and starts to take on an emotional attachment to you when you name your idea. By having a great name you continually draw the map to your end result. Your belief system works while you sleep, subconsciously continuing to improve your idea all because you named your idea. Things with names have meaning; however, that can be a double-edged sword. 6. Here is the other edge of the sword…and it's just as sharp as the first. When you get emotionally attached to something, you stop thinking rationally and start taking every little thing personally. You cannot do this with a product design. Why, because other opinions can make it better and continually help you. Pay no attention to words of discouragement. Let them flow in one ear out the other. Don't let anyone or any entity bring you down. Your mind set has to be in place. You cannot let others demoralize you or anything you dream up. If you do, that you have lost the journey. 7. Realize and continually remind yourself that this is a process that is not unlike every single process you have had in your life up to this point. There have been ups and downs. Roll with the punches. Make lemonade out of all the lemons you are dealt. And if you truly are taking your idea to another level, then realize that with anything worth having, there are peaks and valleys. Get hiking. Stay focused. And don't stop . 8. If you take the above steps, you are well on your way. However,…and I am fully aware we are on step eight and I am just now bringing this up…to get things done takes money. You may have needed to raise the capital to get to this step, so why would I make this step 8? Because here is where mind set plays the most important role in the entire process of developing your idea. If you are reading this, you and I and the rest of the world have one thing in common…time. What you do with yours and what I do with mine may be totally different, but at the end of each day we both start with 24 hours again...it's what we do with our time that differentiates each of us. With time comes one other thing we slightly have in common, and that is resourcefulness. I like the sound of it. What does it mean? It means don't let money stop you from making/doing anything you want. It's just as easy to do as it is to say. Here is a fact , if you have the proper mind set to “do ” it. Get out and go raise the funds. If money is the only thing stopping you, take one hour of everyday and start talking to others who have it. There are billions of people in this world and you know someone who has money. I cannot stand when someone says, well I don't have any money. That's the craziest thing, because you have the best innovation around and you're going to let money stop you from producing it. Then stop reading this. Right now. 9. Do you want to license the idea to a company? If so, get a prototype, or better yet, a rapid prototype and a strong issued patent, then go shop it. These days are not like the '80s, if you don't have a solid issued patent, I personally wouldn't waste my time cold calling companies to license the idea. 10. The fastest way to get something done is hang out with the “someone” who has done the same thing for many years and who is successful at it. If you want to play baseball and be the best at it, then the only logical thing to do is try and surround yourself with pro baseball players and soak everything they tell you in like a sponge. What is even better is if you hang out with a pro baseball player who became a pro from nothing. No money, no time, no resources, no schooling, however, had only the passion to play the game and the drive to continually hone his skill day after day. That's the ballplayer I personally would try to hang out with or pay to consult me. No one ever takes you to the level you want to go to unless you motivate yourself everyday regardless of the circumstances you are faced with.
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It's been said that a bright “idea” is worthless until it's combined and recombined, again and again, with the right resources to achieve some worthy end.
Jon Capriola is the author of the book, Making Ideas A Reality ®. He developed and patented light up shoelaces that he evolved into the best selling Laser Laces®. Jon's many patent inventions eventually led to the creation of the illuminated construction toy set, Laser Pegs™.
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