Whether you are a successful entrepreneur, or just have a great mind for coming up with new concepts, there are a number of steps that you have to follow to turn your idea into a physical product. Every great product starts with an idea, no matter how minor it might be. From product design to 3D rendering, there are a number of steps that entrepreneurs follow to create a final product. If you have a great concept that you want to turn into a product, here are the steps that you should follow for turning your idea into a physical product.
6 Steps For Turning Your Idea Into a Product:
Step 1: Write it down
How many times have you come up with a great idea or concept, only to forget it within a matter of minutes? Believe it or not, this happens to many people every day. As soon as you think of a new idea or come up with a new concept or way of doing something you should write it down immediately. Writing this idea down will not only stop you from forgetting what it is, but it will also help you to develop this idea further.
When you decide to develop on this idea further you should write down everything you can think of that relates to your invention. This could include anything from the design, the function of the product, how you will produce it, to how you will market it once the product is made.
Writing all of this information down clearly will help you to keep on track when taking your idea from just an idea to a final end product. An important step that you should take once you have written your idea down is to patent your idea. Patenting your idea will prevent it from being stolen from someone else before you get the chance to develop it. It will also allow you to see if your idea already exists on the market.
Step 2: Do your research
Once you have patented your new idea, it is now time for you to do your research. This is a very important step as it will allow you to understand all of the business and legal work that will go into developing your new product.
Before you begin to develop your idea and invest all of your hard-earned savings into your new product, you must be aware of a number of different things. For example, the market in which you will be launching the product and the audience in which you will be selling it. The audience that you are hoping to sell your new product to is known as the target market.
As an entrepreneur, you should be aware of what this target market looks for in a product and how much they are willing to spend on a certain product. Another important step that you should follow while doing your research is to check and see if you will have any competitors within the market. This will allow you to see how they market their product and how much that they charge for it.
Step 3: Make a design
The next step in turning your idea into a physical product is to draw up a design. When you initially thought of your idea you would have imagined how you wanted it to look, from the color, design, and size of the product. Sketching out a design will help you to visualize what the final product will look like and allow you to expand on your idea if need be.
Photo by Kumpan Electric
During this step you will determine what size you want your physical product to be, therefore you will need to calculate the measurements of the product. If you struggle with sketching or design you hire someone to bring your idea to life on paper or even get the help of an artistic friend.
Step 4: Develop a prototype
Once you have got your product design down on paper the next step of turning your idea into a physical product is to develop a prototype. A product prototype is essentially a mock-up model of your final product. To turn the sketch of your product into a prototype you could use a method known as 3D configuration.
This is a complex process of turning a 2D image into a 3D graphic using a highly developed piece of software. 3D configuration allows you to see what your product sketch looks like before you develop it into a physical product. Once you are happy with the mock-up you can begin to create a fully functional model of your product.
Step 5: File for a patent
In the first stage of turning your idea into a physical product you would have patented your idea, but now that you have finalized your design and have created a mock-up of your product it is time for you to file for a final patent. When it comes to patenting your product there are two types of a patent that you can choose from, which are a utility patent and a design patent.
Utility patents are typically used for new processes or machines, whereas a design patent is used for manufacturing a new design. Filing for a patent will require you to write out a patent and fill out an application form. Once you have done both of these steps you must hire a skilled patent professional to look over the patent prior to submitting it. If the patent professional is satisfied with your patent, they will submit your application for you.
Step 6: Market your product
Once your patent has been legally approved, the final stage in turning your idea into a physical product is to market your product. The first thing that you should do when deciding how to market your new product is to develop a business plan.
With the help of a business coach, you must decide on how you will sell the product, where you will manufacture the product, and how you will create a profit. To market your product to your target market there are a number of different approaches that you could take.
For example, you could decide to manufacture and sell your new product yourself, or you could either license your product in order to sell it through another company. Licensing your product to another company involves developing a licensing agreement that allows another company to legally sell your product.
You could license your product to a number of different companies at one time to ensure that it is reaching a wide range of the market. Although this is extremely helpful and will help your product to become recognizable among your target market, it can be very costly at first, especially for a new product. Once you have decided on how you will market your product, you will be able to launch your product to consumers.
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