Welcome to the forums!

Our encouraging community is a dedicated resource for innovators everywhere.

Learn about industry trends, common questions,
and stay informed of the latest happenings at Edison Nation.

FROM IDEA TO PRODUCT TO MARKET!

crazyinventor2544's Avatar

Hello fellow inventors and entrepreneurs I am fairly new, actually quite new to being an entrepreneur and inventor but would like to learn the process of going from idea to product to market. I am currently working on building a business around my idea/concepts but I am not really sure where to go from there. coming up with the idea for a new product seems to be the really easy part but where do I go from there is what I am trying to figure out. But just wanted to post this to see if anyone was familiar with this process and see if I could learn from them for a fee of course, I am just really in need of some advice and direction right now but thanks for taking the time to read this my number is 530-844-2021 and my email is awood629@gmail.com

posted    Report this topic
Reply
magurn's Avatar

Hi Aaron!

I will defer to others who have brought their products to market on their own, but if you are interested in submitting a product concept to Edison Nation for commercialization, you are welcome to do so by clicking on "Submit an Idea" at the top of the screen.

If you have not already done so, check out the Edison Nation Help Page to learn about our process. We do not require a prototype to evaluate the idea.

Best of luck to you!

posted    Report this post
chappy75's Avatar

Licking wounds... Get good at licking wounds and picking yourself and continuing headlong into opposing wind,,, thats the secret sauce

David
Margaret Pryor
posted    Report this post
chappy75's Avatar

Now seriously, There are many things that you have to get straight before you just go looking for advice. 

I call the process Concept to Commercialization... It is not the easiest track to run and it is not the least expensive It isn't even the least risk-laden. You have to know in your heart of hearts that you want a business. Then. you have to answer the question, "Why not just license it?".

Robert Gonzalez
David
posted    Report this post
sunto's Avatar

You need to be trained as a Jedi to have a good chance to bring a product to market . The mind control bit helps when negotiating with the buyers. The other thing is network this can open doors. I have been doing this on an expo kitchen exhibition I have just been working on . Some of my products have gone to Sweden with a product developer for kitchens . You make your own luck in this world .

Best of luck what ever you do Aaron 

James Chapman
posted    Report this post
chappy75's Avatar

Aaron,

If you are set on having a business and not licensing the product start with writing a business plan. If the reason you want to start a business is to simply make money then you might be starting on the wrong foot. Business is a lifestyle choice. There are many thankless hours that you will have to poor into building it and overcoming inevitable challenges along the way. 

In the business plan 3 critical things for conducting business will come to light 

  1. The problem your solving.
  2. Who you are solving it for.
  3. How your solving it.

You will have to keep those in mind and these will define your principals for how you approach your most difficult decisions; when it is an either/or decision. You will come back to these time and time again. The more consistently you make decisions based on these factors the more clearly you will define your brand.

The next thing you will define is what you want to achieve or your exit strategy. You define this up front so that you can recognize the opportunity to execute the strategy at the earliest opportunity. If you have to leave value in the deal for the beneficiary of your exit strategy then that is okay as long as you are achieving the objective stated in your exit strategy. Your Exit Strategy will define:

  1. What your need to move on.
  2. What your next Move is.
  3. Ideal reason for exiting.

Or 

  1. How much?
  2. What next?
  3. Why?

Write your business plan and be sure you want to be solving problems of the nature in your business of choice. Business is all about solving problems!

Chappy

posted    Report this post
crazyinventor2544's Avatar

Thanks so much James I really appreciate the advice man I will start there but I honestly haven't decided if I want to license it or do everything myself but I am leaning more towards doing it all myself until I absolutely need to call on a bigger company for help because I would like to really create this and see it grow into something more but I will take the best path depending on the situation after validating my idea with potential consumers but thanks so much!

posted    Report this post
crazyinventor2544's Avatar

Thanks David I wish I did have some Jedi skills that would be awesome! But I have been networking quite a but and will certainly continue to do so but to be honest I haven't even validated my target market yet so still working hard on that! Congrats on your product by the way that's outstanding to here it going international!

David
posted    Report this post
crazyinventor2544's Avatar

Thanks you Roger for that info and advice I will be sure to take all of these things into account when making my final decision I haven't validated my target market yet so that is my first step but from there I am leaning more towards building a business around my idea if it has great validation results, if only ok than I will probably license. I just don't want to put in all this work for some company to come in and reap all the rewards, it just doesn't seem fair so if I have to I will put in all the work I need to to build a great business around my idea/ideas. Thanks so much for your advice I really appreciate it!

posted    Report this post
crazyinventor2544's Avatar

Thank you Michelle I will surely look into this!

posted    Report this post