How many times have you seen a new product advertised and thought, “I could have come up with that idea!” Well, maybe you should seriously consider becoming an entrepreneur, making a living by coming up with product ideas.
Here are some tips to inspire you to come up with an idea for a product.
Tip #1: Think of ways to improve current ideas.
As technology advances, it opens up opportunities to improve upon products that have been on the market for many years. Look around your home or office for products that have sustained through the generations. How can you improve them with the technology of today?
As the saying goes, you don’t have to reinvent the wheel. Nor do you have to come up with something totally different. Instead, focus on making something better. A redesign or adding new features to an existing product are two things to consider.
In fact, Lonestar Patent Services prefers to work with individuals who have developed simple improvements to existing products already on the market. Once you enter a Confidentiality/No-Disclosure Agreement with us, we’ll turn your concept into an actual product through our three-stage Evaluate, Develop, Launch process.
Tip #2: Find inspiration everywhere.
An idea for a product is waiting just about anywhere. You might find inspiration in your travels, at the gym, at the park, or perhaps through conversations on social media. Or you might use your favorite company as your muse.
As you go through your daily life, jot down ways various tasks can be improved or made easier. What inventions – new or to current products – could make your life easier? What things annoy or frustrate you and how can you fix them? Remember, even a small thing could reap big monetary rewards.
Involve your family and ask your children what they would like that doesn’t exist today. A great invention may bloom from their creativity.
Tip #3: Watch, read and listen.
Publications, television and radio news shows, and online webcasts can be great sources for product ideas. Make it a habit to regularly read business magazines, popular magazines and best-selling books in all genres. Also watch or listen to the latest news, both domestic and internationally, to help you think about things that consumers would want to buy.
Tip #4: Don’t throw away ideas that don’t sound that great.
Many an idea that sounded like a dud to start with turned out to be a winner in the execution. And that’s where Lonestar Patent Services can be of assistance. Without you having to divulge the specifics of your idea, a member of our Invention Assessment Team will determine if it’s a viable product idea, free of charge.
Tip #5: Tap into your skillset.
Whatever your profession, use that skillset to inspire an idea. Apply the knowledge you have in a particular industry to create a product ideas list. You might come up with an idea for a product that solves a problem, makes a mundane task easier, or combines two products into one for a more efficient solution.
Likewise, think about your skillset outside of work. You might find creative inspiration in a hobby or sport you enjoy or some other interest.
Tip #6: Look for gaps the big companies left open.
Often, the best ideas are those that fill a niche in a market segment the big companies ignore because it’s not as profitable. Look at some of the major brands and popular products and think of ideas to fill a missing niche. Think novelty, customized pieces, and collectibles.
Once you’ve created a list of potential product ideas, it’s time to get them analyzed. Contact Lonestar Patent Services to get the process rolling and ensure your ideas are well protected with the proper patents as we move forward to bring your idea to fruition.
