You Have an Idea Now What???????

It's been 24 months since my last idea, and I have finally shown up on QVC after what seemed like a marathon. Maybe a marathon would have been easier. The funny part of developing products is that it looks so accessible from the outside, almost as if a tree in the backyard can go out and pick your product from them. Taking your idea from A-Z is unlike picking apples; it's more like an out-of-control clown car barreling down a hill with no brakes. The good news is that it doesn't have to be if you eliminate my mistakes.

One of my favorite quotes from the creator of Atari and Chuckee E. Cheese Pizza, Nolan Bushnell;

"Everyone who has ever taken a shower has an idea; the person who gets out of the shower, dries off, and does something about that makes a difference."

I want to share my development steps, the good, the bad, and the ugly, and how to embrace the good to avoid the bad. The first thing you need to do is check Google to see if the idea exists. If not, you either are on to something big, or your idea is unnecessary. How do you find out which side of that you fall on? I think we are at the billion-dollar question and arrived here early. You get out of the shower (if that is where the idea came from), dry off, and get online. Then it would help if you sketched it, built it somehow, or had someone help you do that. I'm fortunate to have learned the skill of making prototypes in an MVP (minimal viable product).

The following steps are critical in how this idea will play out. Consider yourself in the first inning of the World Series. You are so far away from the ninth, and it will be a long game, maybe even extra innings. Here is a list of what you MUST do next.

• Protect your idea with a provisional patent
• Decide how you're going to prove the efficacy
• Make an MVP/prototype
• Develop a brand name and trademark it
• Decide how you plan to test your idea
• Find a manufacturer
• How do you plan to fund the idea
• Who is going to sell your product? Influencer? You?
• Create marketing assets for the test

As you can see from the steps, it starts to become intimidating. As for my idea, the #ElephantPan, I developed it during the lockdown. The first thing I did (after checking Google) was NOT to tell anyone about it until I had a provisional patent filed. The idea came when I was challenged with a better way to get grease out of the pan without spilling it or getting burned. I saw my teapot sitting next to my saute pan, so I merged them to create a new novel way to drain grease. After testing my homemade prototype, I found out that it not only drained fat but also replaced my colander for draining water! I was excited at how versatile the product was.

I made many mistakes, and after 30 years of developing products, they were avoidable. So I was super excited about my idea that I moved too quickly on many fronts. First, I made marketing assets with an influencer I didn't have a contract with (never do that, ever), and I couldn't use any of those assets. This cost a year and thousands of dollars.

Then, I let the Influencer cancel our Shark Tank appearance. That's right, someone with whom I had no contract made a critical marketing decision about my invention and my company, and I allowed it. If you get Shark Tank asking you to appear on ABC, you show up, period!

Thirdly, I purchased too many pans, and managing your inventory at the beginning of a campaign is the difference between surviving and going out of business. Finally, if you're going to test a product, bring in the MOQ from the factory (minimum order quantity) because you can always reorder if it works.

Fortunately, I could replace our Influencer with myself as the host, which is a new experience but one I think many inventors can do too. I recommend it if you are not afraid of live TV. Additionally, I created some pretty cool digital ads that pushed all the inventory out via social media and Amazon. Now, QVC is up and running, and I am happy to say the project is at the bottom of the ninth inning, and we have a one-run lead.

Let me walk you through the product development marathon if you have an idea. I am always ready to listen and offer help where I can. Good luck! #michaelcaseyinnovations #innovation #branding #influencermarketing