We are a nation of makers and find profound satisfaction when we successfully bring a product to market. Nothing brings this to light more than a quick glance at U.S. Patent Statistics. In 1963 there were 85,869 utility patent applications, compared to 2015 in which the U.S. Patent Office reviewed 589,410 utility patent applications—an increase of over 580%.
While the number of applications for patents in the United States shot through the roof, the number of patents granted is usually about half of the total submitted in a given year. But the point is: more and more people are making stuff. Knowing that more people are trying their hand at inventing then begs the questions:
- How many of these patents became profitable businesses?
- How many inventors and makers are sustaining themselves with their products?
- Are these patents leading to cutting-edge technologies in the marketplace?
The reality is that innovation is hard. Transitioning from a minimal viable product to a functional prototype and finally a manufacturable product takes both time and money—and a big dose of determination. The product development process is a marathon, not a sprint. Can you image spending weeks, months or years perfecting a design and having it manufactured, only to see if fail after its launch? The best way to avoid this type of failure is to prepare yourself early-on and have your idea validated by your target market.
Suggestions on obtaining feedback from your target market:
- Develop a website around your product/startup, before you even launch, to build both excitement and solicit feedback from potential customers (a quick survey link will do the trick).
- Send out a survey (electronically or hardcopy, depending on your target market) to those interested in your product and ask about features they would find beneficial, ask about design elements and importantly ask at what price they would purchase your product.
- If your product is easy to manufacture in small batches, make a few and hand them out to target market customers. Then hold a customer feedback session in which you obtain their feedback on the design and functionality of the product.
The information gleaned from this customer feedback not only helps you design a better product, it helps you validate your idea and develop a product that people will actually purchase. By designing a product around your target market and features they value, inventors and startups can dramatically increase their rate of success.
3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
Startup Connector is a Manufacturing Accelerator helping companies commercialize—turning ideas into products.