Choose a business model. There are both traditional and non-traditional ways to get products into the marketplace. Some will be more suited to your concept and each will have its own rules and barriers to entry. Once you decide on a path, you’ll have a better grasp of the process to move forward along with its pros and cons, risks, rewards and potential liabilities.  

Search for prior art. There’s competition out there and lots of creative people worldwide coming up with ideas every day that could be similar to yours. Prior art consists of more than patents, including current and past products regardless of patent status. There are cost effective ways to search for potential encroachment as well as opportunities. 

Test your concept. During development there are several milestones to test the merits of an idea and the degree to which there’s a market for it. At the concept stage this can be done with little or no expense. If done objectively with a sufficient sample size of target consumers, you can quickly determine whether your users are connecting emotionally with your idea or not.

Organize and Define your project. Prioritize tasks to be done, solidify features and benefits, document your work, and get early feedback. Introducing your concept effectively to enlist help and appeal to customers and investors requires planning. You can get and hold the attention of your audience by focusing on what matters to them on a need to know basis.  

Research the marketplace. Delve into your industry, its segments, leaders, product competition, market share, target consumers, manufacturers, distributors, your trade network, to name several areas to investigate. This effort should result in your knowing trends, where markets are headed, what people will buy, and opportunities for potential inroads.  

Prove your theory. Your idea may look good on paper but proving it works and can be made cost effectively will be required to move your project forward. First you must be convinced it is commercially viable and will make money. Then any investor, company, or manufacturer you approach will expect the same along with proof of ownership.   

Position and Prepare. From start to finish, your project requires a strategy. For example: to find a niche or space where your product can thrive; to gain access to decision makers; how to share your idea while protecting your property regardless of patent status or NDA’s; to make a compelling case for your product and prove you’ve done your homework… to name a few.