What are the steps to take when u hav an idea for a new product and want to get it out in the market?
Question:
Answer:
You need to sit down and do a feasibility study -- is there a demand for this product? How will you market it? How will you promote it? Do you have a business plan? How much will it cost to produce? How much will you have to sell it for? What is a reasonable time line? Where will you have it manufactured? Find out about taxes, lines of credit, etc.etc.
You need to make sure it is copyrighted, so you don't turn around and see your product popping up with someone else's name on it.
Good luck with your project!
I'm not an authority on this, but I will offer advice about what not to do. Don't be taken in by those guys who offer to "submit" your invention to industry. They will only ask you for more and more money. "We've almost got it ready for market. We just need $3000.00 more." I'm not sure that's the way it'll go, I just have a feeling.
Another feeling I have; the guy who makes the most profit from this is the one who put the most money at risk. That's the way our economic system works.
Do a ton of research the web of others that did it and what their mistakes were. Just hit the search engines, you can find anything. Start out by doing a reality check with how hot you think your product is and how much demand there actually would be for it. If that checks out, there are just so many blogs about doing that, you don't need to ask here.
This site helped me alot. It gives you tips and hints on how to start different occupations and how to sell your products and stuff. You should patent your work first, so noone can steal your idea.
This is a very complicated procedure. It is impossible for anyone to explain the whole thing in just a few sentences. Your best bet is to read the book THE INVENTOR'S BIBLE by Docie, Sr. The book has all the information you need.
More Questions & Answers...