Have an Idea for Invention 8 Essentials & Strategies for Successful, Best and Faster ROI!
AGDE has been in the Idea into Product engineering, design and development in New York for over 2 decades now, being based in Long Island. Almost daily, we do get the same question from many aspiring inventor after consultations which is, What do you think of my Idea? Will i get rich? Although the question seems simple and straightforward, the answer can not come that easy. As Professionals and acknowledged Product Development Firm leaders in NYC, we won't unnecessarily encourage anyone to start investing money into their Idea if we do think it's a waste of time or even if it is a good idea, it may be too expensive to design and develop and will not be competitively priced at the market at all. Note too that ideas more often costs the same when in the design and development stages and what separates the product from others (which hugely depends on your chosen Product engineering firm too) are the type of raw materials used and its compact and aesthetic design for example. Successful ideas also needn't be to complicated for even simple innovative ideas can make a huge market impact too.
Below are a list of 8 essentials of must haves that we have seen as necessities to determine if an inventor's idea or a company's innovation will be a success and make them rich or richer.
1. Passion. Your Idea for Invention must arise from something you care about, an idea that excites you knowing you have the opportunity to change things of how we all use, see or touch things with a new product or an innovation.
2. Pricing. Think of how much your product can be sold. Cheap pricing means slower return of ROI, but if your product guarantees added value for your extra dollar you charge, this can literally mean higher earnings and faster ROI for you. See, your chosen engineering firm is really important in the early stages of your product development for, they can help determine and give the best advise regarding raw materials that they are familiar and have experienced with.
3. Your Market. Look for a product that will help fill the requirements of everyone's needs. It can be an idea arising from your sudden discovery for an innovation of an existing product that makes using it easier or accomplishes a task faster. Designing and developing an existing product means, you will be competing for the same market share with everyone, whilst with a totally new original idea, you alone will have a product to sell.
4. ROI. Determine, with the help of your chosen engineering firm your ROI (return of investments potentials). How big or small is your ROI and how fast will you recover your investments? Realistically, avoid low return product ideas for it means you will have to sell more while selling High return products means getting your investments back faster and making you rich quicker.
1. Passion. Your Idea for Invention must arise from something you care about, an idea that excites you knowing you have the opportunity to change things of how we all use, see or touch things with a new product or an innovation.
2. Pricing. Think of how much your product can be sold. Cheap pricing means slower return of ROI, but if your product guarantees added value for your extra dollar you charge, this can literally mean higher earnings and faster ROI for you. See, your chosen engineering firm is really important in the early stages of your product development for, they can help determine and give the best advise regarding raw materials that they are familiar and have experienced with.
3. Your Market. Look for a product that will help fill the requirements of everyone's needs. It can be an idea arising from your sudden discovery for an innovation of an existing product that makes using it easier or accomplishes a task faster. Designing and developing an existing product means, you will be competing for the same market share with everyone, whilst with a totally new original idea, you alone will have a product to sell.
4. ROI. Determine, with the help of your chosen engineering firm your ROI (return of investments potentials). How big or small is your ROI and how fast will you recover your investments? Realistically, avoid low return product ideas for it means you will have to sell more while selling High return products means getting your investments back faster and making you rich quicker.
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5. Design of the Product. Your product need not be too elaborately designed and developed for people to like it. Keeping it simple means less costs for your product development too. If you can establish better functions and promise of satisfactory results with your packaging, you can be sure of getting chosen out of the store shelf and getting your product sold over a same priced complicated product.
6. Customers. Know and define who your potential customers are and determine all their types of preferences and what their needs are. Having established your customers can help in creating a better design and develop functions suited to your customers demands.
7. Budget. Turning your idea into reality will be very costly, specially when seeking Professional Help which is unforgoable for, an expert engineering firm like us can really help you save costs and provide you essential steps that are crucial and can even help you avoid legal implications too, should you be infringing on somebody else's patent. You do not need to break your bank really for you can actually get other people share your risks. But, remember, before you talk to anyone about your Idea, make sure you have started protecting it for not doing so, you may lose your rights in the end. A professional Idea firm like us will instantly sign full non-disclosure agreement with you and advise you on how to protect your intellectual property. We can also help look for an investor for you if you need one, that can share development costs of your idea.
8. Legal requirements. Know if your end product need legal documents and government certifications before being sold in the market. If finding this out only in the end after mass production of your product idea and is ready for delivery to store shelves, imagine your financial losses if you need to go back to the drawing board and may need to discard all your finished products. With our team of Professionals, it is our duty as engineers to know what legal requirements your product entails. Before starting on product design and development, we will already have concluded necessary research to determine feasibility of your idea as well as it's acquiring all necessary government documentary approvals.
Turning your Idea into Reality is really risky and looks very challenging but, should you contact and hire us, we will make sure to give you the best advise and technical assistance to making your idea into a product faster and better than you would have imagined. We use the latest computer imaging technology and modern machinery with the help of our in-house trusted renowned engineers and respected professionals. Contact Us.
7. Budget. Turning your idea into reality will be very costly, specially when seeking Professional Help which is unforgoable for, an expert engineering firm like us can really help you save costs and provide you essential steps that are crucial and can even help you avoid legal implications too, should you be infringing on somebody else's patent. You do not need to break your bank really for you can actually get other people share your risks. But, remember, before you talk to anyone about your Idea, make sure you have started protecting it for not doing so, you may lose your rights in the end. A professional Idea firm like us will instantly sign full non-disclosure agreement with you and advise you on how to protect your intellectual property. We can also help look for an investor for you if you need one, that can share development costs of your idea.
8. Legal requirements. Know if your end product need legal documents and government certifications before being sold in the market. If finding this out only in the end after mass production of your product idea and is ready for delivery to store shelves, imagine your financial losses if you need to go back to the drawing board and may need to discard all your finished products. With our team of Professionals, it is our duty as engineers to know what legal requirements your product entails. Before starting on product design and development, we will already have concluded necessary research to determine feasibility of your idea as well as it's acquiring all necessary government documentary approvals.
Turning your Idea into Reality is really risky and looks very challenging but, should you contact and hire us, we will make sure to give you the best advise and technical assistance to making your idea into a product faster and better than you would have imagined. We use the latest computer imaging technology and modern machinery with the help of our in-house trusted renowned engineers and respected professionals. Contact Us.
