Get Your Product to Market in Six StepsYou're the best person for the job, so get started.

ByTamara Monosoff

Opinions expressed by Entrepreneur contributors are their own.

"I have an idea but I am confused as to how to get it to market"

Almost daily, someone asks me how to get their invention to market. The inventions are as varied as the creative people who developed them. They have ranged from child feeding devices to software programs to frozen foods to electronic gardening tools to cell phone accessories.

首先,请允许我说,如果这是一个问题you've been asking, you are exactly where you should be. If you truly have an invention--something that has not been created before--there is no set way to get it to market and there is no right way. Finding out how to get your product to market is often more relevant to your success than the features and benefits of your invention. In fact, real money-spending consumers don't buy inventions; they buy products. So, shift your approach away from the typical inventing lexicon to how to sell a new product.

The first step should be to research how others have gotten their products to market, understand the tools available including sell sheets, intellectual property such as trademarks, copyrights and various patents, and the potential market for your product. There are several good books, courses, columns and online communities available for aide in your research, but as the inventor, you are the best person to decide which market is best for your product.

If you are not willing to invest energy and time into gaining information, studying your opportunity and even drafting a basic business plan, even if you have plenty of money to invest in the project, it may not be something you really want to pursue.

The second most frequent question I'm asked is, "How do Iget a patent?" I often find that inventors assume that their first step in the process is filing for a patent. I cannot emphasize this enough: A patent is not an invention and getting a patent does not mean your product will get to market. If you find this hard to believe, ask any serious patent attorney how many of his small inventor clients have made more money than the cost of their patent.

Six steps to take your product to market:

  1. Buy one or two well-regarded books on inventing. Look for those that focus on making money, not just patents and read them. I frequently hear from people who say, "I bought your book but I am still confused." In answer to a couple questions I find they have not actually read the book. After this step you may adapt the next five steps to incorporate what you have learned in your research.
  2. Conduct market research. Identify products on the market, both online and in stores that are similar to your product idea, and note which companies make them and where they are sold.
  3. Spend time on the United States Patent and Trademark Office (USPTO) website to identify and read any patents similar to your conceptwww.uspto.gov.
  4. Develop as good a prototype as possible with your available resources. This can be as basic as a drawing or as evolved as a professionally made product.
  5. Connect with other entrepreneursin your local area or online to share information, resources & offer support.
  6. 起草一份simple business plan; starting withthe fundamentals.

Avoid the temptation to take too good to be true sounding shortcuts. Be highly skeptical of those who claim to have unique access and ability to take your product to market for you starting with a basic feasibility study. You are the best person to take your product to market so get started!

Wavy Line

Your Million Dollar Dream: Regain Control & Be Your Own BossTamara Monosoff is the author ofYour Million Dollar Dream: Regain Control & Be Your Own Bossand The Mom Inventors Handbook, Secrets of Millionaire Moms, and co-author ofThe One Page Business Plan for Women in Business.She is also the and CEO ofwww.MomInvented.com. Connect onTwitter: @mominventorsand onFacebook: facebook.com/MomInvented.

Editor's Pick

Related Topics

Science & Technology

This Is the New ChatGPT Trend That Will Enhance Your Business

ChatGPT plugins are becoming the new cool trend among entrepreneurs to enhance their businesses and engage more customers. Here are some insights into how they're impacting business enterprises, along with some potential risks that may accompany the benefits.

Business News

Kristen Bell and Dax Shepard's Family 'Stranded' at Boston Airport During 9-Hour Delay: 'We Made Quite a Home Here'

The actors spent $600 on pillows and blankets while waiting for their flight.

Business News

Netflix is Hiring an AI-Focused Role—and the Starting Salary is up to $900,000

The streaming giant is looking for a leader in its machine learning department.

Growing a Business

Senior Executives Are Falling Behind The Digital Curve — Here's What It Takes to Stay Ahead.

Learn how to stay ahead of the digital curve with the top areas of digital transformation that all corporate leaders should know.

Business News

McDonald's Is Launching a Spinoff Restaurant Chain Based on a Beloved, Blast-From-the-Past Mascot

The company saw a lot of success with another former mascot, Grimace, in June.