Where do i start with an innovation?
Discussion
Hi Guys and Gals,
thought I would post this here as the PH collective normally has some great advice.
Basically, I have come up with a product idea.
It is a new product, and I think a viable one. It is for use in car cleaning (more I won't say
), but people I've told have said it's a good little idea.
My question is this: how do I go about getting it to market?
Should i approach someone like Halfords and get it developed and manufactured with them, or should I try and go it alone and try and sell it when it's ready?
thanks for the help...
thought I would post this here as the PH collective normally has some great advice.
Basically, I have come up with a product idea.
It is a new product, and I think a viable one. It is for use in car cleaning (more I won't say
), but people I've told have said it's a good little idea. My question is this: how do I go about getting it to market?
Should i approach someone like Halfords and get it developed and manufactured with them, or should I try and go it alone and try and sell it when it's ready?
thanks for the help...
First thing is to protect your idea. Patent it! This will then determine if there does exist something similar that has either never got to the market or is in the process of getting there.
There is a cost attached to this and if you can't afford it, write a detailed description with drawings of the product and date it. Put two copies in two envelopes with a copy of that day's newspaper and send registered post to yourself and someone else (preferably a solicitor). DON"T OPEN THE ENVELOPES WHEN THEY ARRIVE!
By taking the idea to Halfords, you could be limiting the potential the product has. Think laterally. Send it to someone like James Dyson or other known "innovators".
Unless you have serious amounts of cash, don't even think about setting up your own production and sales operation.
Also, they are not my favourite people but your local Business Link is a good place to start.
Good luck.
There is a cost attached to this and if you can't afford it, write a detailed description with drawings of the product and date it. Put two copies in two envelopes with a copy of that day's newspaper and send registered post to yourself and someone else (preferably a solicitor). DON"T OPEN THE ENVELOPES WHEN THEY ARRIVE!
By taking the idea to Halfords, you could be limiting the potential the product has. Think laterally. Send it to someone like James Dyson or other known "innovators".
Unless you have serious amounts of cash, don't even think about setting up your own production and sales operation.
Also, they are not my favourite people but your local Business Link is a good place to start.
Good luck.
First even if you are short of cash then get it patented and don't tell anyone about it until it is done as it can invalidate the patent - it is only about £100 for the first filing and the patent office are great about helping. then go to the local Uni engineering department and get their help in making a prototype - they usually want an interest in the product for this, but it is the best way to get to skilled engineers and equipment cheaply. then if it looks like a runner, find a manufacturer. If you are looking for more help I know some people who might be happy to look at it for you under NDA to see if they can help.
Trevor Bayliss (of clockwork radio fame) might be approachable - I know he does the celebrity/presenter circuit.
A key point is that from now on you must be a salesman. You've got to sell your product at every stage to sceptical/cynical people. Put yourself in their shoes. They probably see dozens of ideas every week. Why is yours better? Why should they support you and not the other guy? Analyse your idea/product harshly. What's wrong with it? What could be improved? What could go wrong? Try to find as many faults/problems as you can - then either solve them or think up a good answer should it be needed.
The one question from a venture capitalist that surprised Martha Lane-Fox when setting up LastMinute.com was 'What happens if you get pregnant?'
Oh, and good luck - we'll all have a free one please when you make your first million!
A key point is that from now on you must be a salesman. You've got to sell your product at every stage to sceptical/cynical people. Put yourself in their shoes. They probably see dozens of ideas every week. Why is yours better? Why should they support you and not the other guy? Analyse your idea/product harshly. What's wrong with it? What could be improved? What could go wrong? Try to find as many faults/problems as you can - then either solve them or think up a good answer should it be needed.
The one question from a venture capitalist that surprised Martha Lane-Fox when setting up LastMinute.com was 'What happens if you get pregnant?'
Oh, and good luck - we'll all have a free one please when you make your first million!
ANother thing is to build a prototype of your idea so that you can show it off to the purchasers/manufacturs of accessories for halfords etc plus other marketing types..
Its an uphill struggle and to be honest its probably best to get on one of the Invention TV programs on the BBC
Steve
Its an uphill struggle and to be honest its probably best to get on one of the Invention TV programs on the BBC
Steve
Most importantly don't give up mate!
If some of your friends think its a good idea then a good proportion of the population should feel the same way. Theres a market for just about anything these days.
If 9 companies turn you down, keep going, the 10th may be your avenue to millions!
If some of your friends think its a good idea then a good proportion of the population should feel the same way. Theres a market for just about anything these days.
If 9 companies turn you down, keep going, the 10th may be your avenue to millions!
I've a little bit of experience that might help.
Patenting is expensive, and if you have a really good product then you'll need to patent it in the USA and Japan as well. You need to factor these costs into your planning.
Also, do some web searches to make sure no one else is doing something even remotely similar. They may have patents pertaining to your idea and that would stuff you big time unless you could get a licence from them.
A decent patent lawyer can do a more detailed search for you. Fry Heath and Spence are good for this.
As for manufacturing it and distributing it that's actually not as hard as it sounds.
I have good contacts in China for example that would be able to copy practically anything, and companies like Halfords, Motorist Discount Stiores, Powerplus etc can all be approached quite easily.
Business link and CoC are more of a hinderance than a help in my experience.
Need investment? again, this can be found if the product is good and the business plan is reasonably well written.
E mail me off line if you think I can be any help.
Good luck, and don't give up!
Andy
Patenting is expensive, and if you have a really good product then you'll need to patent it in the USA and Japan as well. You need to factor these costs into your planning.
Also, do some web searches to make sure no one else is doing something even remotely similar. They may have patents pertaining to your idea and that would stuff you big time unless you could get a licence from them.
A decent patent lawyer can do a more detailed search for you. Fry Heath and Spence are good for this.
As for manufacturing it and distributing it that's actually not as hard as it sounds.
I have good contacts in China for example that would be able to copy practically anything, and companies like Halfords, Motorist Discount Stiores, Powerplus etc can all be approached quite easily.
Business link and CoC are more of a hinderance than a help in my experience.
Need investment? again, this can be found if the product is good and the business plan is reasonably well written.
E mail me off line if you think I can be any help.
Good luck, and don't give up!
Andy
Gassing Station | Business | Top of Page | What's New | My Stuff