For many new inventors, the idea of diving into the invention market can feel a tad overwhelming. Understandably so! But, it does not have to be that way. Being prepared is more than half of the battle. Relax, take a few breaths and ask yourself these questions.
1. Is your idea protected?
First things first. Do you have a patent from the USPTO (U.S. Patent and Trademark Office)? Before you move forward with broadcasting your idea to the world, you need to make sure it is protected.
It is true that not all inventors choose to go the patent route, for whatever reason. It is also true that you do not need a patent to sell an invention. You could sell stuff from the inside of your home, right now. However, the patent is what prevents someone else from stealing your idea, possibly doing it better, and robbing you of all your hard labor.
2. Have you done your research?
All of these points are about preparation. You should familiarize yourself with everything there is to know in the areas pertaining to your invention. You need to know if there is anything else currently on the market that is similar to yours, where it is being sold, what makes your product better, and how you are going to handle the competition.
In addition, do you know your target audience? After you determine who you are selling to, you can gear your campaign in a way that promises to best reach them.
3. Do you have an elevator pitch?
And is it any good? You have to know exactly what you are selling. Write down your pitch on a piece of paper, but be able to tell it from memory. If you cannot sell someone else on your idea in under a minute, you are not ready.
The Sharks, from the popular television show Shark Tank, harp on this topic all of the time. Investors need for you to express, without hesitation, everything there is to know about your product and exactly what makes it stand out, or they will pass on your idea before you even know what hit you.
4. Have you tested your product thoroughly?
Sure, a lot of things sound good in theory. But sometimes, what looks good on paper, does not always work out when you’re holding it in your two hands. You might need to tweak your prototype a few times before you finally have a finished product. No one is keeping score, we promise. The only thing that matters is the end result. You want to be able to deliver a product that people absolutely love.
If they love it, they will be sure to tell other people about it.
Our team here at The National Invention League is knowledgeable in every step of the invention process. We are here to help you. If you have any questions about something mentioned, reach out to our team at 888-909-6645. All conversations and information shared is 100% confidential.