If you’re an avid DIY lover, you probably rig up your own tools now and then when you can’t find what you need. Sometimes putting something together out of what you have around the house is great in a fix, or even as a permanent solution. But what if, among your many DIY hacks, you spot something that you think could sell? It could be an idea that solves a problem no one else has addressed or that fills a niche, or it could just be a variation on something that already exists. If you think your invention has potential, what’s your next move to develop it and start selling it?
Write It Down
When you have your idea, a good thing to do first is to start writing things down. You should begin creating a record of your idea as soon as possible because you won’t be able to file a patent just yet. If you’re worried about having your idea stolen, you could write everything down and have a witness sign and date it. Include all of your thoughts so far on how your product will work and how you’re going to market and sell it.
Do Your Research
Many people make the mistake of developing a product without doing enough research. But you can’t jump right in without making sure that you have an idea that will sell. Of course, you can never be sure, but you can stop yourself before you go too far if it doesn’t have legs. Look at the market and the companies that would be your competitors. Search to see if there are patents for similar products and see how much it might cost to make your idea a reality.
Develop a Prototype
When you’ve done your research, you need to develop your product further to create a prototype you can use. Doing this will help you have a better idea of where your product is going, how much it might cost to produce and what it will be made from. You might find you need to have several attempts, and that your first try doesn’t work the way you attended it to. Use whatever materials you have available to you, beginning with a mockup and then creating a working design.
Marketing and Finance
Now you need to think about how to market your product, finance it and develop it further. How are you going to pay for it? Will you find the money yourself, or look for investors? You’ll need to see how and where to manufacture it. It will involve looking at manufacturers such as injection moulding services and metalworks factories. Costs and margins are important, so you need to source the best quality for the price that you want to charge. You need to market your product, both to investors if you need them and to the public.
Developing a product you want to sell is a process that could take you years from conception to market. But if you believe that it can be successful, you could use your product to help other DIY lovers everywhere.