Preparing for the Design Group Review

Coming up with a great idea that will be a hit in the market place is no easy task. It takes the right combination of skill, persistence, concentration, and timing.

However, there are ways to dramatically improve the chances of creating a winning idea. By understanding and applying each of the following five points you will be well on your way to realizing the possibilities.

1. Know who your customer is - Top manufacturers require a steady stream of fresh and exciting ideas to stay competitive. It is vital to understand that as an inventor your customer is the manufacturer... not the consumer.

You must think in terms of what they want. You may have come up with a great idea. However, if the sale of your new product cannibalizes the sale of an existing product they are already successfully selling, where is the incentive for the manufacturer?

They are on the hunt for products that create new streams of cash flow. Not products that replace existing cash flow.

2. Be flexible - Manufacturers and other buyers of new inventions know their business, and they know it well. They understand the time, cost, and risk involved in bringing a new product to the market.

It is important to understand that though you may have come up with a brilliant idea, their is no guarantee the market will share your opinion. Be prepared to be flexible if you enter into negotiations with a manufacturer.

3. Don't fall in love with your invention - Love is blind, but if you are really sure you have a winner, hang in there. In the invention world, even an "overnight" success can take years.

4. Keep good records - The most brilliant idea does not begin to take shape until it is first written down. Writing and sketching an idea actively involves your brain in thinking through a solution and refining its development.

When logged properly, a written record creates a date of conception. This is an important factor in the inventing process as it can be a significant legal factor in obtaining patent protection at a later date. Additionally, it compensates for any weakness in remembering details.

5. Take Action - If you have come up with a great idea at some point you need to do something about it. Plan your steps carefully.

Many brilliant ideas have never made it to the market place due to inaction. Others give up before they even get started. To succeed you must be committed to making something happen.

Good Luck,

Your Design Group Team 

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