Turning your idea into a product

So you have your genius idea you’re sure can make it big. But how do you turn this into a physical product without wasting money or having someone else steal your idea? Keeping in mind that less than 1% of products patented ever come to market, a lot of people have invested significant amounts of money with no return on their own ideas. By doing all your research up front, you’ll know your idea is feasible before spending more money than you need to.

1) Draw a detailed picture of your product and write a detailed description.

Make sure to include dimensions and include what it is, what it’s used for, and any other details you can. Use Google Patents for examples of what to include. This will also help you see if there’s already a patent for your idea. Make a copy and mail it to yourself. Then you’ll have a sealed, post-marked envelope to use as evidence that you created the idea by such and such a date. This can be showed to a judge if the need ever arises.

2) Gather Information on manufacturers.

This can be a tedious process as there are a lot of manufacturing companies out there, but it will pay off to find the best fit. As you contact companies individually, you’ll know what to expect as fair prices within the industry. Plus, you’ll get a feel for who has the best service.

Also, always call, don’t email.

The drawing and description will help as you contact potential manufacturers. You should not give away too much info too early, so decide on a related product that may have similar properties you can use as an example. Even if there’s nothing like your idea in function, think of some of the properties it may have and come up with an example to use. As you call manufacturers, indicate that you do not want to go into specifics, but you’d like to produce an item similar to “x”, of “y” dimensions, made out of material “z.” First, find out if the company can make it. Then, get more information on how much it would cost for them to produce a prototype of the item.

Here are some resources to use as starting points:

• Thomasnet.com
  • Choose the section Custom Manufacturing & Fabricating, then the category closest to what you want to produce.
• Then, try some Google searches for the word similar to what you’re making, plus the following:
  • Manufacturer. If they don’t make it, ask for a referral on a company that might.
  • Distributor. Ask for manufacturer references. Tell them you’re making a product with similar materials in a different industry.
  • Association. Every industry has an association that can provide a lot of information. Find out who the association officers are and ask for manufacturer recommendations.
  • Trade magazine. You’ll learn a lot about trends in that industry, as well as some names of people who could help. Contact the editors for recommendations. This will also help you make connections that could help in marketing later on.
  • Article. As a last resort, you’ll find more information on similar products and contacts for companies who make them.

3) Decide on a manufacturer to create a prototype.

Decide which company you feel best about and give them the information to create a prototype. First, however, be sure to have anyone you talk to about your product in detail until it is patented sign a non-disclosure agreement that says something to the affect of “I agree not to divulge your idea to anyone else.” Have it dated and signed. Google pre-written non-disclosure agreements online that you can adjust and use yourself.

Most companies offer reasonable prices to create a prototype, because they want to be selected to manufacture your product. Depending on the prices of materials though, or if they have to create an expensive mold, it may be more. Consult with the company to make any changes you want. It may take several revisions to make it perfect. It’s best to have the actual item or pictures, with exact dimensions before you talk to a lawyer so don’t waste money on too many meetings. Even if you just have a shell available, you can show that and explain the interworkings.

4) Consult with a patent lawyer and online options.

Most patent lawyers will provide a free consultation. Ask if that could be arranged to see what it would take to have your product patented. When you know the price, thank him/her for the time spent, and say you will get back with him/her very soon. Look online to see what other price options are available. By calling around, you’ll get a feel for what’s out there.

5) Have a professional conduct a patent search.

Before you move forward with the lawyer, pay someone with experience to check your product against any similar patented products that may exist. They will run a report letting you know of any remotely similar items with current patents. You can search for an online agency to do this, or ask the local lawyer for recommendations. This will provide information on how to differentiate your item, and possible aspects to cover.

6) Move forward with your patent.

When you receive the patent reports, move forward with your lawyer to patent the product. It usually takes 6-8 months for a patent to be approved. However, there are ways to get it done in matter of weeks. Try googling “fast patent” for more details. Also visit the United States Patent and Trademark Office website for more information.

When the patent is processed, you can move forward to manufacture the item.

Trade Shows

I would also do a Google search for your niche, your location, and the term trade show (i.e. Nevada kitchen “trade show”) to see what events may be taking place in your area.  Trade shows are an excellent way to meet manufacturers face to face, make deals that suit both parties, and test out the products to make sure they’re what you want to offer.  If you do decide to attend any trade shows, I’d definitely track down a schedule of the event before hand, and find out which companies will be there and where their booths will be so you can decide a map of where you’ll go and when.  If there are any companies at the top of your list, be sure to call them in advance to see if you can schedule an appointment to meet with them.  Some booths are much busier than others, so this may ensure that you’ll be able to talk to the person you need to.

Drop Shipping

When you’re face-to-face with your supplier, it’s the perfect time to discuss any details that are confusing or too lengthy for a phone conversation.  For example, if the company currently does not drop ship, you may be the first lucky one to work out a deal.

It’s also a unique opportunity to be even more picky and see if your current drop-shipper will consider “blind dropshipping.”  This is one way you’ll be able to secure future commission on purchases placed by your customers to manufacturer who also have websites where people can direct-order items.  Basically, what that means is that the drop shipper would place your label on their boxes before shipping them out.  Trade shows are a great setting to work out a deal like this because there’s a lot of supply to deal with.  Come to an agreement on how the logistics of this would work (labels, inserts, boxes, possible additional fees, etc.)  Blind drop shipping is not a common practice that a lot of companies do, mostly due to the extra work/personnel they will need on their part to make it work, but more and more companies are now making it available to their retailers.  Even if the company does not currently blind drop ship, it never hurts to ask if this may be a possibility in the future.