You’ve come up with an incredible tech product idea and you’re excited for it to hit the shelves.
However, there’s a long road ahead and you’ve no clue where to start.
If this sounds familiar, you’ve come to the right place.
Below, we’ll outline the 6 steps you need to take from developing a tech product idea to taking it to market.
1. Carry Out Extensive Research
The product invention process will call for considerable research. For example, will your product infringe on anyone’s copyright? There are plenty of websites you can use to learn about jargon and processes. However, we suggest finding a patent attorney or a law firm to help you out.
You will also need to consider marketing, which should never be left too late in the journey. Researching the market and creating your ideal audience will help everyone involved stick to the same vision.
2. Partner Up
The inventing process is long and will likely call for skills you don’t have. Therefore, you should find professional support to take care of the hard work. For example, you will need manufacturers for prototypes, attorneys for patent applications, and anything else your product requires.
As well as practical assistance, we suggest finding a business partner, who will bring their own set of skills and a buzzing network for you to utilize. Alternatively, you could consider moving into an incubator, which will help connect you with the right people.
3. Create a Prototype
After carrying out research and assembling your team, it’s time to take your product to prototype and make sure it works. You will need to find a quality manufacturer for this, and we suggest using BitBox, especially if you’re managing the creation and sales of your product. Alternatively, you can sell the rights to your product and take a back seat.
4. Product Testing
Your product will never be perfect the first time, so be prepared to make changes along the way. We suggest finding a focus group of customers and constantly testing the product and using the feedback to make changes. After all, your customers are the people who will benefit from your invention.
5. Elevator Pitch
Before your product is ready to sell, you need to create an elevator pitch, which will help professionals and friends get on board. Your sales presentations need to have a solid hook, statistics, descriptions, and an assessment of why your product is different.
6. The Legal Bit
Your product needs to legally belong to you, otherwise, anyone can steal it without repercussions. Hire an attorney and have your product patented, which is a complex process. Applying for a patent can be done through the government’s Intellectual Property Office.
In the event anything goes wrong, you need to protect your personal assets. Therefore, you should incorporate your business. This will involve creating a business name, picking a physical address, choosing a corporate entity, and obtaining licenses such as trademarks.
A product idea is the first step in a lengthy development process. To make it through to market, you need extensive research, a strong team, funding, rigorous product testing, and legal advice. Once you’ve accomplished the steps above, you’re ready to manage inventory and sell your product.