Guess how long it takes the average inventor to get their product to market? If you said less than a year you are wrong! Let me tell you why bringing a product to market can move slowly….despite your best efforts to make things move faster.
1 – From the day you come up with an idea, you literally will embark on more than literally a dozen critical steps to have a retail ready product including CAD drawings, prototyping, website creation, patent and trademark filings, factory sourcing, marketing plans, and much more!
2- Each step in the process takes time and almost always takes more time than you anticipate. For example, your web designer may say it will take them 2 weeks to design your site, but along the way they get busy with other clients, you make more changes than you figured you would and that takes up more time, and before you know it more than a month has passed…..
3- Money can stop an inventor cold! Inventing, like any other business, requires capital and most people do not have a bundle of cash from which to draw from while getting their product developed. Often, many inventors use what cash they have, when they have it, to move from step to step. This can drag out the process…
4- Selling to major retailers is a game of extreme patience! Since their are literally millions of people with ideas for products but only thousands of spaces available on store shelves, getting placed often starts with a “no” regardless of how great your product is. Retail buyers take care of their current vendors first and then they look at new products. They are also so busy that many don’t (and can’t) get back to everyone that calls on them…so the sales cycles are long.
On average, from the day you come up with an idea, expect things to take about a year under the best circumstances and often between a year and two years. I have seen people and have worked with people who have done it in less time, but that is the exception and not the rule. Plan to be in it for the long haul and know that no matter how excited you are about moving ahead that taking the careful and slower route will usually lead to better results!