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10 Steps to Bring a Product to Market
Step 4 - Make a Looks-Like, Acts-Like Prototype
Now it is time to make a looks-like, acts-like prototype. You will need this to verify if your idea works the way you think it will. Your prototype doesn't necessarily need to be made from all the same materials as your final product will be, but it needs to be a close approximation of your final product to prove to you, investors and potential partners that your idea does work.
Some inventors get all the way through the product development process, "perfect" their product, invest in a patent, but when they finally try to build the product, it doesn't work. Then they make changes in their product to make it work, but by doing so, sometimes their own product changes invalidate their patent protection. That is why it is so important to make a working prototype before you invest in a patent.
Building the Prototype
Depending on your product, you may or may not be able to build the prototype on your own. Remember that your prototype doesn't need to be made of all the same materials as your final product; it just needs to work and look like your final product will.
If you cannot build the prototype on your own, you may need to hire a professional prototype builder, an engineer or just a capable person.
Paying for Your Prototype
Building a prototype can be the first expensive step in your product development (depending on the complexity of your product). If you don't have a fair amount of savings, or the opportunity to take a small loan, you may need some investments to pay for your prototype.
Family and friends are often the best place to start for some small investments. Some of them may already know about your product, maybe have been encouraging you, and now may be the time to ask for some investments. You want to be upfront about the risk of investing in a new product, especially if you hope to keep good relations with your family and friends. Some may want to invest a lot of money into your product, but we don't believe this is a good idea unless they want to become partners in your business. Investing in new products is risky and you don't want to take advantage of family and friends who are eager to help.
If you need to hire a professional to build your prototype, you may need to take on your first serious investor. Once you start taking on investors beyond your family and friends, you will need to talk to a business lawyer to make sure you aren't breaking any laws with your investors.
Do You Need Help with this Step?
Our prototype and design associate, T2 Design, can help you with creating your prototype. For more information on T2 Design, click here.
Prototypes
Prototype design and construction cost vary depending on the complexity of the product. Generally, the consultation should provide us with enough information to allow the preparation of a fixed price quote for the design and construction of an invention prototype. Most prototypes cost between $1,500 and $15,000.
Virtual Prototypes
Virtual Prototypes are very useful for pitching an invention to a potential licensee at a cost that is much lower than that of a physical prototype. A Virtual Prototype is a series of photo realistic images of an invention that can be developed by designing the invention in three dimensions on the computer. The results can be viewed from different angles, and illuminated to create professional virtual photographs of the invention. The invention can also be an Animated Virtual Prototype and shown as a video. The price for most virtual prototypes is usually between $1,500 and $3,500 depending on complexity.
To request one of these services, or for more information, please contact info@t2design.com.
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