There are several steps that inventors should take to ensure that their new product is safe and has the best chance of success when the invention is released to market. These steps are outlined below:
Step 1: Research! If you are serious about inventing a new product and experiencing success as an inventor, then you must be willing to put in the time and effort to do the necessary research before investing your valuable resources into the product development process. This type of research should include reading books and online content about the invention process, spending some time on the USPTO (links on the Resources Page) website to make sure that your invention idea is unique and has not already been patented by another inventor, and networking with other inventors that can help you along your own path to success as an inventor.
Step 2: Learn about your target market. Many inventors invent new products that can benefit others in an industry that they have already been working and are familiar with. If this applies to you, then you are already ahead of the game and have less work to do. If you are not familiar with your target market, then you will need to continue the research process (if you’ve followed step one then this step should be easier for you as you’re already an experienced researcher), and learn about your target market. This should include compiling information about companies within your target market that may be competitors or prospective distributors of your invention when it becomes a new product, and learning about the behavior of consumers of the products in your target market.
Step 3: Develop A Plan. Successful inventors keep the mindset that their new invention is similar to running a business. As with any business, it is important to have a plan. For inventors, this starts with having a prototype. A prototype can be as simple as a drawing of your invention or as detailed as having a working model. The next step in your plan should be regarding product launch. If you’ve done your research, then you should have a good idea how you will market your new product, what you will need in terms of supplies to build your invention, and prospective companies that you will work with to sell your new invention. Part of your product launch plan should include your expectations – how much of your time and resources you will put into your new product launch, obstacles you expect to overcome, and the amount of return you expect to achieve based on what you’ve learned about your target market.
Step 4: What about a Patent? Many inventors believe that one of their first steps should be to obtain a patent to protect their idea. Read on to learn why obtaining a patent should not be your first step. Firstly, the fact of the matter is that most invention ideas do not turn into new products, and many people who have invention ideas do not end up becoming successful inventors. Those who are persistent and approach the product development process in a methodical way are the people who become successful inventors. While you will need to get a patent to protect your invention, the process to obtain a patent can be expensive, and should be started only after you have completed your research and have developed a plan for your new product as outlined in the steps above.