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IDEA' s & INVENTORS STRATEGIES IN MOTION
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Grow Your Business Around Your Invention
So you've got ambitions to grow your business around your invention to the next level, and you're wondering where to go next. Before you start making any decisions have you considered whether your business is ready for growth from your idea and how it will sustain and support it?
Ensuring your business is ready for an increase in business from your invention is just as important as having a way to generate that extra business, so that you achieve both the initial boost and sustainable long-term momentum.
How we determine our development consultants effectiveness
To effectively develop a business around your idea or invention, our business development consultant expert looks at generating and sustaining growth for your particular and unique company.
When it comes to generating or stimulating growth it will be a marketing and sales led process by our experts that will start with positioning the business and ensuring the products and services you have are right for the marketplace. We work on momentum that will come from continued efforts in the areas of marketing and sales but to ensure that its sustainable we make sure in our analysis the business must and will be able to to fulfil demand.
We know from past experience and research that the return from any money spent in business development will be diminished if the business is unable to move beyond its initial growth spurt into a sustainable trajectory. We also know its important to asses the organizations resources and infrastructure to determine if you can meet peek demands and avoid having supplies being overtaken which may severely affect customer relationships.
The last thing you want to do is invest unwisely and in an untimely manner in additional staff or equipment that is either underutilized or never used so timing these investments can be crucial and there may be some inevitable upfront investments as well as further staged investments in-line with growth plans. We make sure these matters are sound before moving forward.
Assisting With Change And Adapting The Business
We realize and make sure that your company is ensuring sustainability and to also require continued effort and development to meet new demands and changes in market trends.
This includes the needs of the business and primarily its customers, the needs and desires of you as the owners and investors in the business must also be considered which may include future decisions such as full or partial retirement, sale, flotation or merger.
Having plans that cater for both the short and long term goals as well as any back up plans, must be essential for dealing with unforeseen eventualities that may throw the business off track temporarily.
It may also be that because of changes or new developments things like staffing and company procedures may need reviewing in-line with policies and processes for getting things done.
We also know that you should also give some thought and consideration to your target market and products and services so that you can continually evolve in-line with the market and create other avenues for expanding the business further.
The Business Growth Development Process
Developing the business should be a stepped process where each stage builds on the last.
Initially our review of the business is performed to determine where it is, its ability to cope with demand increases and potential hidden assets that can be quickly leveraged.
We work to make sure the first step is to position the business correctly and understand what makes its stand out.
Next we look at integrating this knowledge into existing marketing and sales processes.
Then comes the first part of systematising marketing and sales so that information can be captured, segmented and used for effective marketing and sales purposes.
We then work to make sure these are broadened into other special relationships and partnerships.
Its further exploited with more custom marketing and advertising.
Later, we then make sure visibility in the local community is stimulated.
Then we come onto more direct marketing.
Finally stimulating word of mouth.
After we put it all together, we make sure you have a very effective program for creating and maintaining growth for your company.
Come and join with us today to ensure your success! You wont regret it.
Contact us using any form on the page.
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Building A Business Around Your Invention
Building a business around an invention requires transforming a raw creation into a commercially viable product by protecting intellectual property, validating market demand, and establishing an optimized supply chain. Turning a great idea into a functioning company means transitioning from the mindset of an inventor to that of an entrepreneur.
Phase 1: Secure and Protect Your Intellect
Before showing your invention to anyone, you must ensure it cannot be legally copied.
Prior Art Search: Search databases like Google Patents or the USPTO to confirm your invention is completely novel.
Provisional Patent Application: File a PPA to lock in an official "patent pending" date for a lower upfront cost.
Detailed Logbooks: Maintain a meticulous, dated record of all your designs, iterations, and test modifications.
Non-Disclosure Agreements: Never pitch to suppliers, partners, or early testers without a signed NDA.
Phase 2: Validate and Refine the Product
A great invention is useless if nobody wants to buy it or if it is too expensive to produce.
Build a Working Prototype: Create a Minimum Viable Product (MVP) using 3D printing or basic materials to prove functionality.
Define the Micro-Category: Analyze direct competitors on marketplaces like Amazon to study current price points and consumer complaints.
Gather Unbiased Feedback: Put prototypes in front of target users to discover hidden flaws or missed opportunities.
Phase 3: Define Your Business Model
You must decide whether you want to build a standalone manufacturing company or sell the rights to someone else.
Business Model: Direct Manufacturing
Pros: Full control over the brand; highest potential financial rewards.
Cons: Heavy upfront capital required; heavy operational burdens.
Business Model: Licensing the idea
Pros: Low financial risk; passive income through royalties; faster time to market.
Cons: Lower profit percentages; loss of control over final design.
Business Model: Contract Manufacturing
Pros: Outsources factory work via platforms like Alibaba to focus entirely on marketing.
Cons: Vulnerable to supply chain disruptions and quality control slips.
Phase 4: Found the Company and Fund It
Structuring the business correctly allows you to secure funds without risking your personal assets.
Legal Incorporation: Form an LLC or C-Corp to insulate your personal finances from business liabilities.
Draft a Business Plan: Create concrete financial models detailing projected unit economics, manufacturing costs, and target margins.
Crowdfunding: Use platforms like Kickstarter to simultaneously raise initial capital and prove market demand.
Strategic Partnerships: Look for a co-founder with a business or sales background to balance your technical expertise.
To help give you the most accurate next steps as a consultant, you should know the following questions:
What stage of development is your invention currently in?
What industry does the invention target?, and
Are you leaning more toward manufacturing it yourself or licensing it to an established brand?
We are here to help you in any way we can. This includes making sure you keep the invention safe, in your hands, and with you in full control.
Use the form below if you have any questions at all!
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