This post is for all the people that have an idea but don’t know what to do next. This mostly applies to a product that you may want to make or an invention since that is where my experience is.
1) First you need to research it and make sure it has not already been patented. After that you need to look on the internet and make sure it is not already being sold, and if it is then you need to figure out how to improve on that product and make it better.
2) Make sure there is a need for your product. You could ask 1 or 2 very close people or look on the net at forums to see if other people have similar issues.
3) Build a proto type. This would involve you putting the components together yourself or finding somebody who could do it for you.
4) Consider a preventative patent, this will protect you like a regular patent but is only good for a year.
5) Find a customer…..without a customer you have no business.
6) Make arrangements with the manufacturer that built you the proto type for a minimum order of your product. This is something you should already know including cost so you can price out your product correctly.
7) Order your minimum order and start selling.
Other things to consider is to set up your business as a corp. or an LLC or sole proprietor, that is something you can figure out but I would talk to a lawyer or accountant. A UPC number can also be important since many large companies will not do business unless you have one. If you only have one product, you can buy just one UPC number. Big box companies like Walmart and Target also require you to have liability insurance so be ready for that cost. Think about your customer and how you are going to reach them. You will need to build a website as well, so there are up keep costs for that as well.
I think that is enough basic info to get people started, I may think of more stuff to add later but I wanted to post some help since it seems like this question comes up a lot lately.
1) First you need to research it and make sure it has not already been patented. After that you need to look on the internet and make sure it is not already being sold, and if it is then you need to figure out how to improve on that product and make it better.
2) Make sure there is a need for your product. You could ask 1 or 2 very close people or look on the net at forums to see if other people have similar issues.
3) Build a proto type. This would involve you putting the components together yourself or finding somebody who could do it for you.
4) Consider a preventative patent, this will protect you like a regular patent but is only good for a year.
5) Find a customer…..without a customer you have no business.
6) Make arrangements with the manufacturer that built you the proto type for a minimum order of your product. This is something you should already know including cost so you can price out your product correctly.
7) Order your minimum order and start selling.
Other things to consider is to set up your business as a corp. or an LLC or sole proprietor, that is something you can figure out but I would talk to a lawyer or accountant. A UPC number can also be important since many large companies will not do business unless you have one. If you only have one product, you can buy just one UPC number. Big box companies like Walmart and Target also require you to have liability insurance so be ready for that cost. Think about your customer and how you are going to reach them. You will need to build a website as well, so there are up keep costs for that as well.
I think that is enough basic info to get people started, I may think of more stuff to add later but I wanted to post some help since it seems like this question comes up a lot lately.
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