Product Development Process Information




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Product Requirements
Gather
Information
& Plan

Links for further reading:
Process Overview
Step 2 - Requirements.
Step 3 - Information & Planning.
Step 4 - Design.
Step 5 - Prototypes.
Step 6 - Production.
Process Notes
When to Patent

More Articles...

Step 3 - Gathering Information & Planning:
To enhance the Requirements List of Step 2, some specific outside information is needed. Typically, a patent search and some market research are appropriate. You may have no intention of patenting a new widget, but you really need to know if someone else has. There are a lot of patents for great products the inventor didn't ever get to market.
(I believe some of that comes from not understanding the development process -- which is part of the stimuli in writing this article.)
Patent Searches can be done in a few different ways. You can do it yourself -- at the library or on-line. www.uspto.gov and www.FreePatentsOnline.com are a pretty good on-line sources. Or you can hire someone to do the search for you.
(Note: I strongly suggest avoiding the "Invention Centers" that exploit inventors and their wallets.)

Perhaps the best source -- though they are expensive -- are patent attorneys. They won't develop your invention, but they can do a thorough search and can give better advise on patentability and infringement. After all, a patent is only as good as it can be defended.
Protecting Your Idea: The Hewlett Packard web site had a great article on Patents: Protecting your big idea that can shed some good light on the types and processes for protecting intellectual property. Then read about When to Patent.
Another good resource I've found (hopefully the blog persists) is at www.LearnAboutPatents.net.
Also, many patent attorneys have information available like the Frequently Asked Questions about Patent Law from Gould & Whitley at http://www.gouldwhitley.com/ > Patent Law that also tell about prices.

A Note About "Invention Centers"

You've seen them. They come by many names. They often advertise on TV or in the mail -- saying how they will take your idea and make you a millionaire.
Oh how many horror stories I've heard about being ripped-off. It is really sad.
The appeal is to the very real need for a guide in the process -- for knowledge and information -- because the path to success is not well marked. The trouble comes when an "invention center" wants control and you pay . . . for whatever. Remember: The path is not well marked, because it is different for each idea.

Ask lots of questions.

Challenge promises.

Insist on being integrally involved in decisions.

Be willing to back-off if you feel uncomfortable.

There are plenty of people out there ready to take your money and your ideas.
Be cautious. Look carefully at the source. Be careful with what you are willing to give them. The more they promise (especially without a careful evaluation of your idea) the more cautious you should be.
Note: Don't get the wrong idea . . . there are good places for help, but most of the good ones won't "do it all", and they won't make a lot of promises. Most of all, they won't promise how much you will make, or how many you will sell.

Market Research -- Depending on the scope of the project, market research is usually desired. This should include things like competitive analysis, market availability, costs of getting product to the consumer, etc.. It should also include justification (in hard numbers) as to why your product will be able to penetrate the market, and how fast. Since I am not an expert here, I'll leave this topic to others.
>>> Open invitation: Submit an article about Market Research, and if I approve it, I'll add the article here and a link to your site. <<<

Gathering Outside Information (our Speaker Example):

For the speakers, a quick Patent Search was done just to be sure of no infringement, but patenting was determined as unnecessary because the goal was to build a great set of speakers, not to displace Bose or Onkyo.

The Market Research was really done before the project began. The motivation for designing such speakers was the lack of availability in the market. In this case, the market research came early and defined many of the requirements. Things like size, power, impedance, drivers, etc. were all defined. Additionally, the goal was not to sell millions, just to make a good product.

Business Plan -- The summation of gathering information combined with the product specification and a healthy dose of common sense will help in writing a Business Plan. The plan (with real numbers - don't cheat here or you'll be cheating yourself) must justify continued effort and money spent on the project.
Sadly, when this step is skipped (or over optimistically completed), time and money are usually wasted. It's OK to determine that the product can't make money, and it's much better to do it now than later. Take some time and develop the business plan. Get some help if you need it -- I did. It's important, and it's eye-opening.
>>> Open invitation: Submit an article about How to Write a Business Plan (detailed), and if I approve it, I'll add the article here and a link to your site. <<<

Concluding Thoughts ...
Make sound, realistic plans based on good information. Great things that come from taking a hard look at the above items are:

First - a revised and improved product specifications (step 2 again).

Second - the start of intellectual property protection for your idea -- and knowing you are not treading on someone else.

Third - a sound business plan as a road map for success.

Fourth - a good foundation for explaining why your product will succeed -- if just for peace of mind to have something concrete to support your feelings, but also as a great foundation for getting investment money if you need it.

The more you know, the easier it is to succeed, for knowledge empowers success.

Continue to Step 4 - The Design Phase.