November 2, 2018 at 2:58 pm #7343AdamParticipant
I am a new inventor. I want to know how much time it would require to convert your idea into a product.November 2, 2018 at 3:00 pm #7344MaiaParticipant
—-Many of the inventors want to make money immediately but it is best to know that this stuff takes time. How much time it would require basically depends upon the complexity of the product, the skills of the product developer, distribution channels, marketing, money (investment), and a lot of effort and last but not least, luck. Suppose if you are inventing simple software, it would take almost three to six months. On the other hand, you are inventing something big like new machinery for the cotton industry it would require almost one to five years to produce. Moreover, after manufacturing, marketing and branding would take time. It all mainly depends on your idea.November 2, 2018 at 3:02 pm #7345DannyParticipant
Well explained, Maia. I want to add that Success in the world of innovation is all about getting your timing right. If you wait too long, someone else will have capitalized on a similar idea and captured your niche already. On the other hand, if your invention is the first of its kind, the market might not be ready — and you’ll have to fight an uphill battle to carve out a place for your product.November 2, 2018 at 3:04 pm #7346TheresaParticipant
Aspiring inventors and entrepreneurs need to focus on these tips to turn an idea into a product quickly:
—-Don’t do every step of your product yourself e.g. manufacturing, marketing, funding etc. it can be overwhelming to try to take care of everything yourself.
—-Inventing a product requires a lot of initial investigation, patience, and resilience. Before you begin the process, make sure you have the time to dedicate to due-diligence research.
—-Once you’ve found your market and ensured that your legal path is clear, it’s time to start bringing your idea to fruition by creating a prototype. At this point, you’ll need to decide if you’re going to have your product manufactured or licensed.
—-Pitch customers for your product even close family friends and colleagues.
—-Continually test your product
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