I am an aspiring inventor currently developing and re-designing a new consumer product which will be on the market soon. Currently working out the prototype and soon to be in production.
I want to know who has been involved in acquiring a partner in business. Has anyone partnered with someonw who had the ability to take your idea to the next level? I may partner with someone who has been very successful in the past with their products and who is interested what I have to offer. I think partnering is a great way to go especially if you dont have all the chips at your disposal like they do. How did you determine what their role in your idea is worth? Did you give up equity and if so how much? I know there are many variables in this but I am trying to get a ballpark figure of where to head with this. Thinking ahead. Thanks for any input on this topic.
I hear what you are saying. Good advice. I do not think I would advertise my product until I was ready to deliver. That is if I decide to try marketing myself. I haven`t decided the options for licensing yet and may be a possibility in the future. Another idea I had was to get my product exposure and then immediately go for a licensing deal with a company. If anyone has had this happen it would be great to hear from you.
Do you think it is important to have a web site up and running at this stage in development and product exposure? Like I said I am just at the prototyping stage. What about a product image at this point? By that I mean a name and logo to set ones product apart from others in the marketplace. I would like to gain recognition and have a good contact and product name to be remembered by. Any thoughts?
I have been working on developing a new product to market for some time now. I am in the process of manufacturing the first few prototypes. I may have my lucky break into a large venue which could result in media coverage and great exposure to the public. I would like to know how some of you would handle such a situation and what kinds of things would you prepare yourself for? Thanks for any input on this.