Being an inventor sounds wonderful, doesn’t it? You determine the work hours, you are your own boss, and most importantly it is a great way to express your creativity and at the same time earn some money. However, there are many difficulties you would have to overcome, and we are going to discuss some of them in the following text.
The very first thing you have to consider is what type of product is necessary and has the potential to become popular among customers, but it is not yet available. It is a good idea to narrow down to one filed of interest e.g. technology. For starters, research that specific market and try to find gaps that you can fill. Also, think about other products that are widely used. How people benefit from them? How do they use them? What features make them so popular?
Source: Medium
Now think about what is missing. There is always something that can be added to the market and expand it, maybe your invention will do that. In addition, research people’s complaints about certain items or simply ask your friends what they would change about them. This is a great place to start because you will be able to gather all the facts and maybe get an idea for your new invention. Furthermore, you don’t even have to come up with a new item, maybe you can just upgrade some of the existing ones. Consider how you could make some product that is already available more convenient and attractive.
Did you come up with your newest invention? Now it is time to further research the market to ensure that someone else hasn’t already tried and the same thing and failed for whatever reason, and on the other hand to check if something similar already exists. In order to build anything, you have to possess a certain set of skills. Do you have those? If not, maybe you should put your idea on the side and enroll in some courses to get the skills that are required.
On the other note, if you don’t want to lose time to develop certain talents, you should outsource. It is perfectly normal to turn to others for help when creating something. There are many things that have to be done and no one can do it on their own. Check out sfexaminer.com website and learn who you can benefit from them.
Source: The Balance Small Business
Once you have come up with a new product it is time to build a prototype. Use it to further develop all the additional features and also to present the item to potential investors and customer in order to spark their interest. Visit different trade shows to introduce your invention and give people the chance to become familiar with it.
Furthermore, you absolutely have to hire a patent lawyer that will help you ensure that your invention doesn’t get stolen by competitors. If there is a market for it and you think it will be a hit, you have to protect your intellectual property. Since this law is very complex, we don’t recommend you to try to do this on your own. Employ a lawyer, just to be on the safe side.
The last thing you have to do is to decide whether you want to sell the idea or keep it for yourself and build the product. Building anything requires a lot of time and most of all money. Consider all the pros and cons carefully to choose the best path for you.
Source: Pexels.com
All in all, we have discussed some main points when it comes to inventing new things. As you can see, being a successful inventor requires a lot of time and if you want to stand behind your product and present it to the market, a lot of funds.
