If you're an inventor who is ready to protect the current idea, then pay careful attention to this list of steps.
The big takeaway of these Steps is: Build your Idea for Success with 5 steps of Invention Idea Development.
Inventors need to understand this Invention Ideas Australia list means gaining the knowledge to realise idea development, however, assumptions can cause idea development to fail.
Step # 1 - Good Ideas Validation
Is there a market for this new idea?
Customer Segment Research Tool 1 niche topic in, 20+ platform search results out.
Can the market afford to pay for the solution?
Idea Research Checklist Form to test your product readiness for market.
What is the market doing now with the problem?
New Customer Secrets Framework Build your ideal customer avatar.
Startup Development Videos Instruction videos for tools and development.
List the benefits to your idea.
List the pain points of your ideal customer.
What are the existing mistakes being made by your prospects?
What gains would the customer make with your product? Logical and emotional.
Step # 2 - Competition Research
What are the existing competing products? See Amazon, Alibaba, Google Shopping...
How is your idea better than the competition?
List the channels being used to deliver products and services
By the way , if you're struggling to know the market demand for your product, this competition and keyword research, Create Product Market Fit Domination, makes it quick and easy! This is what competing products hope you never find:
Create Product Market Fit Domination Your niche keywords, competition identified, your industry keywords and user niche questions.
Step # 3 - Prototype Build
Can you make a drawing of the product idea on paper?
Can you make a 3D mockup of the idea to test?
3D Design Tips Graphic design example in 3D. 3D printers can make a sample.
Does the prototype work better than the competition?
6 Prototype Development Tips Every Inventor Needs To Know Document as you build.
Step # 4 - Provisional Patent
Time to perform a patent search to check if your idea is unique.
Research intellectual property closest to your idea at IP Australia.
If your idea is still unique, ask for a provisional patent to protect your invention for 1 year.
Things Every Inventor Should Know - Patents Provisional, Full, International
Step # 5 - Minimum Viable Product
Time to build the final version of the Australian Invention. Inventor Funding Model training
You have 1 year to refine the product for market.
You can trade mark the product name and the company name.
Commercialisation can begin.
3 Commercialisation of Invention Options DIY, Collaboration, Fully Managed
You should definitely Confirm product market viability.
Australian Inventors End Goal
- Have a market tested viable product
- Apply for a Full patent using patent attorneys
- Setup manufacturing
- Create a sustainable business earning a lot of money
- Create Global Patent and Licencing Agreements for multiple streams of royalties income
Still not convinced? Well, if you're an inventor who wants to protect the current idea, check out this free report
"Intellectual Property at a Glance PDF" - You'll love it!
Take you local patent and go global with Global Patent Exchange Get your checklists to start now.
How To Create Global Licencing Agreements - 3 Checklists - For Inventors, Entrepreneurs, Patent Attorneys
