Most independent inventors can’t drop everything to focus on their invention. Inventors have jobs, kids, a spouse (maybe even more than one, if you’re slow in getting your invention off the ground). Simply put, inventors have a life other than just being an inventor. The problem is that life can get in the way of inventing.
Getting a concept out of your head and onto a store shelf is a time consuming endeavor. Tomorrows come and go. And before you know it, you either see a similar product in the market place or you just lose interest altogether and, in the process, waste thousands of dollars.
So after helping many of you manage this problem, I have some tips.
• Make sure you understand the time commitment and have time to commit.
• Set a budget and know that you can access the funds when you need them.
• Make a list of the steps in the process.
• Set time each week to get something accomplished.
• Get qualified people (not your drinking buddy) to help you do what you don’t have time for or don’t have the skill to do yourself.
• Check in with someone who can hold you accountable for your progress.
• Expect that you will make some mistakes (everyone does). Get help to get back on track and move on.
• Set a launch date for your product. This is important. The launch date may be a professional tradeshow. It is this target date that will help keep you on track.
• Create a timeline with all of the necessary steps and the launch date.
• Now, figure that it will take twice as long (adjust your timeline) and cost twice as much and you will have a reasonable timeline and budget.
From time to time, life will intrude but if you have a reasonable timeline it will be easier to get back on track. Your idea and your money won’t silently slip away because you were busy living.
What is a reasonable timeline? Read my next blog.