The basis of many a great business is a great invention. New product ideas
are fairly easy to conceive, but it takes something else to bring it to market. That's why it's so hard to be a successful inventor. It's not just one job.
On the other hand, we live in a golden age of invention and innovation. If you have a great idea, you’re more likely to find help to cultivate it than at any other time in recent years. So don’t get discouraged with the enormity of the task. Break down the following steps and figure out how you can make your big idea a reality, not to mention a cash cow.
- Have a good idea. It’s easy to make too much of this step. There are plenty of people with good ideas that never get developed. If you can come up with a concept that has the potential to benefit people in the real world, then you might have one such idea on your hands. Carefully consider applications, market conditions, and consumer possibilities, insofar as relevant information is available to you.
- Build a prototype. It’s one thing to say you have a good idea; it’s another thing entirely to create it. Whether or not you actually build a physical product, you need to create a detailed design that proves you are able to build a final version with adequate resources. Sometimes a patent may be secured from careful designs alone, though others will want to build a working prototype before attempting that. Well-built designs and prototypes also help with the next stages.
- Funding/production. Following testing and design revisions, it’s time to take your product to the next level. Some do this with funding from independent investors. Others self-fund. Whatever the case, it is important to find a way to enter mass production, or any level of production with which you are able to meet demand.
- Marketing. Marketing is very important to the inventor/capitalist. If your invention is in product form and remains in your ownership and control, you’ll need good marketing for it to find its audience and continue to grow it. Marketing may be performed by you alone, or with the help of professionals and agencies. Internet marketing may find an audience that you didn’t even expect, opening up selling channels around the world. You may or may not have the best instincts for marketing, but whatever method you employ, make sure to invest in marketing.
An inventor may not have all of these skills at hand. In that case, it’s important to realise your strengths and weaknesses, then find out how to get the help you need to make the whole thing work. Do research to find out other inventors’ paths to success
, so that you can learn from their methods. With research, revision, and hard work, you should be able to take your great idea to the masses, as a refined product that will offer real value to a whole bunch of people. Good luck!