Invention Garden

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Elon Musk on How to Create the Perfect Product Elon Musk shares how to think when creating the perfect product. Remember that for Industry 4.0 we need to think of our factory AS a product.Watch the Full I...

🌱🚀 Are you an inventor or entrepreneur with a brilliant idea? Turn your concept into a market-ready innovation with Invention Garden's product development coaching program! 💡💼

🏋️‍♀️ Reduce costs and speed up your time-to-market with our expert guidance. 📈💰

🌐 From market engagement to manufacturing, patents to finance, our holistic approach covers all key workflows for success. 🌍📊

💸 No need to break the bank! Our coaching program is a fraction of the cost compared to traditional agencies. 💰💡

⏰ Don't wait years to launch! Get quotes from manufacturers in as little as six weeks. ⚡️🚀

🌟 Beyond product development, we provide resources for funding, investor connections, and more! 💼💰

🎓 Learn at your own pace with our flexible program structure. 📚⏳

👉 Don't miss out on turning your idea into a market-ready product. Join the Invention Garden coaching program today and unleash your innovation! 🌱💡✨

Read Here to Find Out More: https://invention-garden.com/benefits-of-invention-gardens-product-development-coaching/

👨‍💼🚀Ready to turn your product invention idea into a reality?🧐 Learn how to create a prototype and test your product's functionality and design before investing time and money into mass production. From sketching your idea to using 3D modelling software to rapid prototyping with FDM, SLS, and SLA technologies, we've got you covered.👌🏻💡💻 Once you've created a functional prototype that meets all your requirements, it's time to find a manufacturer to produce it at scale.🤝💰But wait, have you considered making a DIY prototype?🤔 It allows you to test ideas quickly and cheaply without committing any major resources upfront and gives you greater control over the design process.🔨👷 So, dive into the prototype development process and turn your ideas into reality!

Read the full blog here: https://tinyurl.com/y6w854xp

Thinking of starting your own business? 💼💡Before you dive into launching your product or service, it's crucial to conduct thorough market research to determine if there's a profitable market for your idea. 📈

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In this informative blog post, you'll learn the key steps involved in market research, including identifying your target audience, analyzing competitors, and gauging demand for your product. 💻🔍 By conducting market research, you'll be able to make informed decisions about your business and avoid wasting time and resources on an idea that may not succeed in the market. 🔎💰 Whether you're a new entrepreneur or a seasoned pro, this guide is a must-read for anyone looking to launch a successful business! 🚀

We recently published a press release in the USA and UK to announce the up-coming start of intake to our coaching course!

Invention Garden Embarks On a Creative Revolution Invention Garden brings product development, product business and product profits within the reach of the average person, worldwide.

THE PROFIT EXIT POINTS

Along the path to developing a product and building a business around it, there are a range of different points where you can exit the process and still be able to make a profit.

We call them the "Profit Exit Points".

Invention Garden breaks these down to 3 main Profit Exit Points, each one related to a specific work Phase, showing you what to do to reach that point.

1.
First, you have the "Quick Wins". You may be able to arrange an agreement with an existing company: they may agree to pay you a fee or royalties on sales for your idea even before you own a full Patent, or other intellectual property for your product invention.

2.
Second, there are the "Licensing Legends". These are licensing agreements where you profit from the Patents or other IP that you own by allowing other companies to develop, manufacture and sell your product idea.

3.
Thirdly, the final Profit Exit Point is where you manufacture your own product and build a business to market and sell it yourself. With this method you may still have partners, either financial or manufacturing, but you keep control over the process and a larger percentage profit of what is sold.

Profit may not be your driving concern but, if it is, then taking your product to production as a small player may not be as profitable as finding an agreement with a major existing company.

Every product is different and the possible Profit Exit Points need weighing up separately for each one.

The Invention Garden Roadmap will show you how to make this decision, saving you time and helping you decide where the most profit could be.

THE 7 GOLDEN WORKFLOWS: WHAT ARE THEY? ARE YOU COVERING THEM ALL?

A workflow is a sequence of activities that are necessary to complete a task, from initiation to completion. As an entrepreneur, you’re probably aware of the fact that you’ll need to apply various types of workflows all throughout the whole product development journey to get where you want to be. Research Market and Finance are just two examples: you’ll be surprised how many times you’ll have to cover these workflows in order to be able to progress in your journey.

Every phase of this process is designed to lead you towards what we, here at Invention Garden, call the potential Exit Points. This means that, at different stages along your product development journey, you have the chance to choose one of these potential exits to end the development process according to what your goals are.

For example, you could exit with Licensing Agreements or Partnerships with established brands, manufacturers or investors. Alternatively, you could also go all the way down the product development path and reach the final Exit Point where YOU become the brand, manufacturer and distributor.

The Invention Garden Roadmap breaks all of this down into 4 possible Exit Points:

- Provisional Patent
- Patent & Technical Design
- Manufactured Design
- Become a brand business owner

All the work you need to do while advancing down your path is broken down into 8 categories (see pic below): these are the 8 Golden Workflows that Invention Garden can show you how to navigate. No matter which Exit Point you decide to take, we can guide you through all these workflows giving you step by step checklists, methods and tools to follow.

Are you ready to start your journey?

HOW DO YOU KNOW IF YOUR PRODUCT IS REALLY A FIT FOR THE MARKET?

Many inventors and entrepreneurs are so excited about their Million Dollar Idea that they tend to focus on only one part of product development above all else. This may be a prototype, product design or a patent

This can be an expensive pitfall…!

In the product development process there are a number of parallel workflows you need to keep an eye on, and Market Research is definitely one of them.

It can start with a search and study of existing data and numbers to find out how large you think your market may be, through to studies of competing or similar products to see what price you could aim for.

Get this wrong and you might spend time and money developing a product with too small a target market, or even develop it in a way that means manufacturing is too expensive.

Here at Invention Garden we have identified the key questions you need answering to keep a product on track to being profitable. These questions and their answers change throughout the development project:

- Have you done your data and safety standards searches at the start?
- Are you conducting surveys and trials as the project progresses?
- Are you testing the market feedback with prototypes?

Feeling overwhelmed yet? Well, don’t!

Invention Garden can guide you and every aspiring product developer through a tried and tested product development process that has been 25 years in the making in the Product Engineering Design offices of Fearsome.co.uk, our partners in this adventure.

We combine intense training with strategic consulting to allow any entrepreneur looking to develop their Million Dollar Idea in order to be successful.

Stay tuned for further news on our courses!