How to Market Your Own Inventions

If you are an inventor and don’t know how to market your inventions, it will be very difficult for you to become famous. Marketing is simply an art of selling things. It is not any rocket science. It is not necessary to earn any particular degree to become a good marketer, but if you have time to learn about the marketing strategies, it will be great for you.

Marketing of inventions is a very tricky thing to do as not so many people are attracted towards a new product or idea. Therefore, you have to be ambitious, keen, smart and courteous to market your own inventions.

Instructions

  • 1

    First of all, you have to patent your invention or inventions. It is extremely important to get the legal protection for your idea and products so that no other person can steal it from you.

  • 2

    Then, you have to assess the overall situation of the market. You can take help from the publications and different reports in order to get understanding about the competition and various trends in the particular market. You have to make analysis of all the big players who control the market and if the market is saturated, you have to assess the level of competition.

  • 3

    After gaining knowledge about the market, you have to develop your business plan. Even though, a good business plan gives no guarantee of a successful business. But, it helps you to stay focussed and to take the necessary measures to achieve your goals. In addition, it prepares you to cope up with some unexpected situations by acting upon the strategies which you made after your feasibility study. Besides, your business plan will include your vision and mission. In vision statement, you will include that where you want to see yourself in the future while in the mission statement, you mention your goals and the ways with which you are going to achieve them.

  • 4

    Then, you have to search for the sources from where you will gather the funds. The basic sources will include your own savings, funds from family and friends and angel investors. If you are a new comer, it will be extremely hard for you to take loan from the bank. But, if you will offer any good collateral, you can get it.

  • 5

    After getting the funds, start developing your product and give life to your idea. Then launch your product in the market after advertisement.

Leave a Reply

Your email address will not be published. Required fields are marked *


five × = 15