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Got an idea for a tangible product, now what?

by Wide
3 replies
So,

I have found a solution for a problem, a tangible/physical product (have been thinking about it for a couple of years). The product contain some electronics in a small plastic casing (including a small battery, low voltage).

I have no idea how to create it, i'm not an engineer or anything like that - I found a solution for a problem and know how i'm going to market it.

Someone told me you need at least $100k for development cost, patents etc. Is this really true?

Where should I start?
Any of you tried to create your own tangible product from scratch?
#create #idea #produce #product #tangible
  • Profile picture of the author elexmedia
    If your idea is really unique and solve people's problem, you could send it to Quirky.com.
    They will turn your idea into a product and even market it for you. You get royalty for your idea.

    Or if you would like to start it and do it by yourself, you could get the initial capital from Kickstarter.com.
    They will invest in your idea, give you the money, and you could use the money to build and market the product.

    To find manufacture to create your product, you could find it through Alibaba.com.

    Hope this tips help
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    • Profile picture of the author Wide
      Originally Posted by elexmedia View Post

      If your idea is really unique and solve people's problem, you could send it to Quirky.com.
      They will turn your idea into a product and even market it for you. You get royalty for your idea.

      Or if you would like to start it and do it by yourself, you could get the initial capital from Kickstarter.com.
      They will invest in your idea, give you the money, and you could use the money to build and market the product.

      To find manufacture to create your product, you could find it through Alibaba.com.

      Hope this tips help
      I looked into Quirky.com, but I get like 5% of the profit - which is not a lot but still better than 100% of nothing though.

      Kickstarter might be a good idea.

      Alibaba.com .... well, I have browsed this website in the past but i'm worried about all the copied products that can be found there. It looks like they will offer your product for sale after your first order, so everybody can start import your own developed product.
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  • Profile picture of the author shockwave
    Originally Posted by Wide View Post

    So,
    I have no idea how to create it, i'm not an engineer or anything like that - I found a solution for a problem and know how i'm going to market it.
    First, let's start with that marketing part - how are you going to do that? Online? If so, is there really enough demand? (have you done keyword research?).

    Kickstarter - That could be pretty killer for you as a sales platform and/or to raise funds for manufacturing. However, there are a few things you'll notice if you take a close look at Kickstarter that will increase your chance of success:

    1. Look at the demographics of most of the Kickstarter visitors. These are the "Innovators" & "Early Adopters" in the Law of Diffusion of Innovation. Here's a good video Simon Sinek talking about it
    2. If you want to really capitalize on Kickstarter, you should have a plan ready to go (like at least a website landing page to capture email addresses)

    3. I've also noticed that REALLY successful products on there in the Technology category or Design (product) are one's where the creators usually have a pretty good social network to begin with. The Kickstarter project enhances their whole plan.

    4. Better be ready to spend a little $$$ on a GREAT video that tells an AMAZING story. Take a look for yourself, the people that hit the big funding levels always have a great video/story.

    5. At first, before your Kickstarter project, I would only start with a Provisional Patent. That will give you 1 year of protection and to decide if you want to commit the real deal.

    ...Just my two cents.
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