Getting a product idea made
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- ap-
Hey guys,
Im really stuimped on this one. How does a person get an idea for a product made? Whats the usual process and whats the best way to see it made and marketted.
Everything from an accessory for an existing product (say an ipod) to making tables and chairs.
Are there any resources on the web that offer help in this area.
Your knowledge is greatly appreciated.
- brtman0
idea
business plan
find investors
hire the right people (whatever you need: marketeers, programmers, metalsheet folders)
sell productsell company to ebay for a couple of billion
- ap-0
Thanks for your response, it is helpful however im after a little bit more of a specific response.
Is there a way to cut out a lot of the middle stuff - ie. can i get out of making the product myself before it gets bought by a company?
How do people usually go about finding investors?
- renaphuah0
brainstorm and mind mapping.
moodboard.
sketches.
idea development.
mock up.
presentation with concept.
- ap-0
Cool, so who am i presenting to? Anyone who will accept a meeting or a niche market (say Griffin, if i was making an ipod accessory)?
Or maybe an Industrial/Product deisgn company?
- renaphuah0
any that you can get hold of?
just my 2cents :)
- ap-0
Ok that sounds about right - do you guys have any advice on copyright or patent before i go presenting it out? Just to protect myself if i put the idea up on the web - or isnt it much of a problem in the development stages?
- UndoUndo0
get a patent if possible, set up confidentiallity agreements before speaking to anyone. Consult with a product design agency, if you need captial start meeting with VCs (make sure you have alla patents granted and confidentiality agreements signed b4 you show anything)
- ap-0
Appreciate all the responses guys, thanks. Please keep them coming if you have any more to add.
How willing are companies to see products without knowing what they are first (because of confidentiality)?
- UndoUndo0
you can talk generally about yr product and market without giving away the idea, be very careful is the best advice going IMO
- ********0
1: Make at nice and simple presentation ready. Max 10 min long
2: Have a prototype (working if possible) of your product made
3: Set up and meeting with companies that might like the idea
4a: Make everybody at the meeting sign a confidentiality agreements before showing anything, if they don't want to, pack your shit and leave for the next company.
4b:Everybody signed the CA and now you can do your well prepared presentation. If you suck at it, practice in front of the mirror 100 times till you have it right.
5: If you made a good impression, you might be lucky and they bit, then you sign contract with them.
READ THE FINE PRINT
Either you sell the idea for a one time fee or you get royalties which is around 2-7% of sales value. Depends on a lot things
6: You sit back and enjoy you money you made.
or
Start your own company and have the full rights to the product and make a 100% of the royalties.
Hope it helps you a bit
- McStark0
It really depends on what your trying sell mate, Im a product - Toy designer and tend to lease my ideas to other consultancies as a sole trader. If your purely just interested in geting advice and help from design firms you may struggle as the situation tends to be a closed door policy to outsiders, or they will charge you for their service. Most Id'ERS are frantically busy. My best bet would be to do as much research into matarials and manufacturing for your product, find an engineer and get it protoyped with confidentiality agreements etc then market it yourself to buyers like supermarkets and retailers, but you will need some contacts for that end of the stick.....
- ap-0
No, youre spot on McStark, i wanna ideally lease the idea to a consultancy or company.
Failing that, i will have to make it myself. I think at the end of the day, itll be a bit of both.
- McStark0
well then you will need some contacts, do you have these, problem is people will try to take advantage, manufactureres and distrubuters always have the upperhand thats where the beauty of the web comes in...so if you can do it yourself youll have 100% ownership
- UndoUndo0
read up on the Dyson {vacuum cleaner} story, he went to alot of companies to try to sell his idea and eventually did it himself and repead the rewards.
- ap-0
No i havent got anything as yet but im in no rushso im going to plan it out well.
Ill keep an eye out for the foxes who want to take advantage.
- ********0
making it yourself is easier most of the time, like McStark say, companies will fuck you over on any given chance they get. even with a signed agreement, they still do it, because they have the cash to get a good lawyer and you don't have enough to buy a PSP with 2 games
build from the ground