Stagnating Ideas

[NoMoneyDown]

I wonder if someone can help me get past this "hump" I'm in. My problem isn't a lack of direction but a lack of knowledge to forge ahead. I have several ideas which I believe will be good products, but no idea how to get from "step 1: concept" to "step n: reality".

Idea #1: Involves clothing apparel (or, more specifically, a hat). I am about as far removed from the clothing industry as one can be, but just thought of an idea one day that I think others would like. Should I sell my idea to a company more in that line of industry (more my thought)? If so, how do I protect myself, and get the process moving, etc.?

Idea #2: Gadget for the car. Nothing "high tech" at all. Matter of fact, think of it as one of those $19.95 doo-hickeys you see when flipping channels on the TV. Again, I think people would buy it, but have no idea how to get it from my head to a store shelf.

Idea #3: Similar to "Idea #2" (i.e., for the car - mainly). Same concerns.

Idea #4: Something new parents would find very useful as it is a new design for a baby's bottle. Again, something I think would be a good sell. And, as with the others, just don't know how to move forward (i.e., who to talk to, how to talk to them).

Any help out there from others that have been in the same/similar boat and managed to actually get their ideas from their "head" to the store shelves? I've done a lot of research already on each item, and haven't found anything likeable (yet). Thanks!

 

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[ocean]

http://www.fourhourworkweek.com/blo...ur-ideas-to-fortune-500-companies-plus-video/

Hope this is useful. Check out Stephen Key's site, he's got some videos.

 

[NoMoneyDown]

http://www.fourhourworkweek.com/blo...ur-ideas-to-fortune-500-companies-plus-video/

Hope this is useful. Check out Stephen Key's site, he's got some videos.

Cool. Thanks! As easy as it is to imagine licensing your idea, I hadn't thought about it. May be the best way to go for a few of my ideas.

 

[Merkin Man]

I hear 'ya loud and clear!!!

I don't have any clear-cut advice, but only my own story to back yours up with...

I have had an idea floating around in my head for about 4 months now. Something I know nothing about, but I know would be a big seller if constructed and marketed properly. Right in line with the $19.95 TV commercial your 2nd and 3rd ideas would fall under.

I hit a small obstacle, though - read: lack of knowledge, and put it on my mind's back-burner, which in my world means essentially giving up on it altogether.

It frustrates me to no end. Hopefully, I will get back on track and work on it some more.

Good luck.

 

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[SteveO]

I can't help you with specifics but, have you tried to put together a business plan?

With anything, you need to jump in to see what is in there. I don't lnow how to coach someone on making a plan but having an objective and taking action to obtain it is key. Dive in.... Make phone calls.... Google... Make more phone calls...

More information will help you to make and modify your plan.

 

[Venturer]

In my experience "ideas" are not worth anything.
You need to check whether your idea can be turned into a product or service that can be produced or offered at a price that people are willing to pay.
Serious companies with the potential to turn your invention into a hit usually don't license an unprotected "idea".

So, my advice: Do as much as possible to protect your intellectual property rights and turn your idea into a real product concept package before even trying to license it.

I forgot to mention that you should just start with what you think is the best idea and put all you efforts in it to develop it into a marketable product as soon as possible.

Read a book of Harvey Reese or Don Kracke about ways to earn money with your ideas. These are simple "just do it" books.

 

[dbeck29]

i was/am in your position, my products are now in the development stages and will be on store shelves soon enough. Take what i say with a grain of salt...

after i did extensive research both on and offline ... what i did once i had my ideas vivid enough in my imagination was build a ridiculously simple, cheesy, horrendous prototype that would give people the slightest idea of what i have in my mind. The step following was to contact my lawyer to have a non-disclosure/non-compete ready to sign by whomever i choose. Once i had the contract ready to protect my intellectual property i did a little bit of research on first article manufacturing. I figured out what material my project would most likely use and contacted a professional sample maker that specializes in that material. I called the manufacturer to find out what exactly they need in order to create my sample product, turns out they need full CAD illustrations. Needing CAD drawings, i researched local design companies and after a few interviews i had found my designer (mind you in all my contacts thus far, i never gave away any ideas on what my product was, just the basic "silicone kitchen utensil"). My next step was to have my new design team sign the contracts and start designing.

We have had many meetings, gone back and forth on designs and concepts, and now, just waiting to receive a final product to market test. When all is said and done with the design team, i will have multiple working prototypes, full CAD drawings and engineering specs. My next step is to decipher between overseas or domestic manufacturing, up on completion of that step, will be to find a competent manufacture to have a trial run made to make sure the product is to my specs (material, cost, quality, etc)

marketing and selling is going to be a beast of a whole different nature.

good luck with your project and remember, ideas are worthless, everybody has them, its the people who act upon them which makes the difference.

EDIT: just to let you know as well, i had absolutely zero background in anything i have attempted to do thus far

 

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[slim_jim]

Great info. Thanks for sharing your process.

Please keep us informed as to your progress. When and where we can buy it.

 

[Yankees338]

Dbeck, rep+++ for you. Great story -- very inspirational.

NoMoneyDown, my advice would be to take action as soon as something pops into your mind. The sooner you get started, the more likely it'll be that you'll pursue the idea. The longer it sits, the easier it will be to forget about. I recommend writing up a business plan; specifically, I'd focus on the potential market for the product -- not so much the product itself. You can adjust the specifications of your product once you determine what the market NEEDS (...which reminds me: you should also read MJ's Entrepreneurial Premise thread).

Good luck. Keep us posted.

 

[NoMoneyDown]

Great ideas (and stories) everyone. Much appreciated. I read a lot on Stephen Key's web site, and find his "approach" very interesting. Get an idea, submit a PPA to protect the idea for a year, cold-calling (if you haven't already established a relationship with) companies that you think would like your idea, and license the idea to them. While I think the whole soup-to-nuts idea is streamlined and simple, I know reality is completely different, but it's interesting all the same and could very well match a couple of my ideas.

I also came across Lucky Napkin which is co-owned by one of the "mentors" on Duetch's "The Big Idea" show. I submitted the initial app, but we'll see how far it goes.

I can honestly say that I haven't yet created a plan, SteveO, although, I have done a fair bit of research already for each idea, but still want to do more. I need to set aside a weekend and get my thoughts together on each idea separately, so I make sure I have all angles covered (even then I'm sure I'll miss a thing or two).

dbeck29, thanks for the insight into your own experiences. I've heard similar stories, so I think yours is right inline with those. I'm leaning more and more into giving most of my ideas to someone else as each idea I try to materialize from "concept to shelf" will be overly time consuming, IMHO, and some are just beyond my realm of expertise altogether (e.g., Idea #1).

Thanks again everyone, it's good to listen to others' input whether or not they have life experience as it gives me other avenues to go wher I hadn't thought of before!

 

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