Friday 03 March 2023

How To Turn Your Invention Into A Real Business

Some people just have that brain for ideas. They’re constantly coming up with great inventions or world changing concepts in their head. Does that sound like you? These creative ideas are wonderful. They’re at the heart of every great inventor. However, it takes real skill to turn these ideas into real products. It’s not an easy process taking a good idea and building a functioning invention from it.

That’s what today’s article is all about. We’re here to help budding inventors take their idea and turn it into a reality. No project or idea is too big or too difficult. If the concept is strong enough, it can happen. They key is taking time to explore the idea and take it through the prototype process. Test it, refine it and put a strong business plan behind it. Without further ado, here’s how you turn your invention into a reality.

How To Turn Your Invention Into A Real Business

Start Writing Things Down

The one problem that lots of inventors have is that they forget their ideas. Concepts slip from their fingers as soon as they thought of it. Ideas come to you at the strangest times and you need to be ready for them! Keep an inventor’s journal with you. Write down any potential sparks of ideas. You never know what will come of them. Use the writing process to help define your invention. Keep making notes, changing it, adapting it. This will all help you turn a spark of an idea into a viable business opportunity.

Do Some Market Research

First things first, has anyone else already built it? The bane of an inventor’s life is someone else getting there first! Take your time to do some thorough research around your idea. Find the niche audience that would use it and figure out how you would infiltrate it. Can you hone and adapt your product to fit a market gap? Assess your competitors and see where your product fits in the market.

Start Making Prototypes

Until you have a physical product, your concepts are nothing more than sparks of ideas. In order to really explain your product to marketers and investors, you need a prototype. They need to see and feel its functions and designs to understand how and why it is important. Start with detailed sketches followed by 3D digital modelling. Finally, visit the website of a prototype specialist and have a full scale working model built.

Business Plan

As a creative inventor, you may not have the best head for business. If this is the case, then find someone who does. Without a solid business plan, you won’t turn your invention into reality. The business plan should explain the specific marketing avenues and audience potential. It should project financial figures and sales. It will explain the return on investment to any potential lenders. This is how you will secure funding to turn that prototype into a marketable product.

If you have a creative mind, full of inventive ideas, follow these steps. You’ll slowly see your ideas turn into something much bigger. You’ll become a true inventor.