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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

AIBU to really truly believe that my invention could likely be a success...

35 replies

maytheforcebewithme · 10/03/2015 02:38

but I don't know where to start.

Trademarking/Copyrighting
Business plan and arrange finance
Focus group
Product design
Prototype manufacturer

Reads like an episode of the Apprentice. I had the idea 2 years ago but parked it because I was living overseas and it was too much/complex at the time. It involves manufacturing. Probably from silicone, plastic or rubber

I've not thought about it a massive amount since but it's literally been keeping me awake for the last two hours. I need to give it a fair go.

I am not at all creative. I do have a logo designed by a friend/digital designer who created my other website (little service/cottage business that barely ticks over but brings in a couple of grand a year profit).

Am I bonkers? I believe it could be really successful. There is nothing quite like it and I can see it on the shelves of Mamas and Pappas and JLP. Perhaps IKEA would even buy me out before it gets that far lol. Or have I just been reading about Michelle Mone too much lately...

OP posts:
HexBramble · 10/03/2015 02:42

Maytheforce I cannot help on the practical front, but bloody go for it!
You'll regret it if you don't at least follow it through...

mortil2 · 10/03/2015 02:44

Gosh, tell us more. Sounds so interesting. give it a real go, you will never know if you don't and will probably regret it

SweetValentine · 10/03/2015 03:03

Go for it or you'll regret it. Obviously worth it if the idea is still there years later

Original poster
maytheforcebewithme · 10/03/2015 03:13

Thanks. I can't say any more at the moment but I will when I can! There are companies who have tried to solve this problem, but their ideas were crap 3 years ago, and are still crap now :-)

OP posts:
GettingFiggyWithIt · 10/03/2015 03:25

So when are we going to see you on dragon's den then OP? Wink Tell that Peter Jones to come and do a webchat...

MalibuStacy · 10/03/2015 03:29

I have inventions too! Not the same as yours as it sounds like yours is for children. I wonder if there is an organisation that can help with this kind of thing? Wouldn't work for me as I'm overseas, but might work for you.

mountainandmolehill · 10/03/2015 05:09

Try Sorcit for helping you produce it. Yes they were on Dragons Den for their own idea and didn't get funding but their main business is great and will really help you get started. (NB. I have nothing to do with them personally. just used to be in that world.)

Qwebec · 10/03/2015 05:19

Don't know if it is complicated, but my boss called a chinease factory to get some plastic containers custom made.Maybe you could give it a try if your inventionhas a simple shape Ex: mooncup simple vs dragon complicated.

Qwebec · 10/03/2015 05:20

chinese

slalomsuki · 10/03/2015 05:44

You local university or college may have a unit that helps people refine designs, make prototypes and supports them with business plans to take them to a start up stage. Our one has and there are lots of mini manufacturing type business that have come out of it with successful products.

Jessicalovessunshine · 10/03/2015 05:56

My husband works in product design - i am happy to ask him to help you if you want? I am also in procurement if i can be of any assistance.

LoveWA · 10/03/2015 05:59

I've been wondering the same thing for months now. I have a good invention in my head and I think it would sell widely. But I don't know where to start.

I have brand name in my head and setting up a company is easily done. But getting a prototype made and funding start up has me stumped.

I've googled plenty of prototype development companies but I'd love to speak to someone who has been through the process.

Honeypot1 · 10/03/2015 06:13

I'd start by printing off all your invention details, posting them to yourself then filing it UNOPENED. That way, should any company after that point steal any ideas, you have proof of when you had your idea.

Then i'd register at companies house. Then I'd get a prototype made and secure funding.

Good luck and don't forget us once you're rich! Grin

LittleMiss77 · 10/03/2015 06:17

i work in the area of new product design and usability testing (healthcare) and agree with a PP who has said to try approaching a local university who may have design/prototyping services that you could buy in.

Most importantly though, do NOT discuss your innovation with anyone until you have the relevant Intellectual Property protection documents in place otherwise you are at risk of having your idea stolen by someone with more money/less morals than yourself.

loveareadingthanks · 10/03/2015 07:00

copyright, trademark, posting yourself copies of your idea - not relevant and won't protect you. Ideas can't be protected. Detailed product designs can.

You need to get a patent on it to protect your rights to it, as a first stage. Which will require proper drawings and description.

There are firms that will help you do this.

ChasedByBees · 10/03/2015 07:03

If you're in London thee are courses at the British library which describe all these steps, and literature if you can't make a course. I'll see if I can find info...

ChasedByBees · 10/03/2015 07:04

Here we are: www.bl.uk/bipc/

meringue33 · 10/03/2015 07:05

Try submitting your idea at Quirky.com

It's a good way to test the feasibility of your idea and potentially get it made with the support of manufacturers

ChasedByBees · 10/03/2015 07:07

PS I think their courses are free (from memory).

This leaflet looks useful.
www.bl.uk/bipc/pdfs/inventing.pdf

It also mentions at the end networking events for inventors. Could be useful!

cogitosum · 10/03/2015 07:11

If it's for babies/children jojo mama Bebe used to have some sort of academy for this.

Original poster
maytheforcebewithme · 10/03/2015 08:05

Wow. Some great suggestions there. I did actually see a Patent lawyer overseas. I'm in the first year of a Business Studies degree (am mid 40s but left school at 16) and that, what I'm learning and what I realise I'm capable of also has me believe this is the right time.

I don't know how I am supposed to get costings/a prototype made without the patent. I need to check if I can file it myself and if having it Patent Pending is protection enough. Local unis is a fab idea. I'm making notes!

I downloaded try Lloyds Bank business plan template and have started on that.

Thanks everyone!!

OP posts:
miniavenger · 10/03/2015 10:10

You need a business plan first and to accept that it's likely that for the first two years you will lose money or break even rather then profit- that's one of the main reasons business fail, because people expect to make profit and don't save/invest/budget and prepare enough.

I've PMed you the name of a company who did free short courses in my friend's area, they were great.

attheendoftheday · 10/03/2015 11:45

Start by doing a business plan. If a business isn't likely to make it its better to know from the start. Then consider investment. Even if you don't need it, its a good way of ascertaining whether your good idea is considered good enough by others to put their money in. I would leave building the product until later, as you may need to make changes based on the early steps. Logos and marketing come at the end.

Eggybread00 · 10/03/2015 12:54

Firstly, think about whether you want to run this as a company or whether you just want your product available on the shelves.

I had an idea, went to the expense of setting up a company, a friend did the branding, I got them made and thought a particular brand might bite my hand off to market it as their own. They didn't. I sell my product myself and do well but I hate running the company. It's a great product but I'm kind of accidentally dealing with corporate bullshit and ridiculous margins. I can't patent my idea because it's not physically new, it is a tweak on an everyday product.

If you just want to get the idea out there, pay for the patent, you don't even need the expense of a prototype and then approach the market leaders that retail "own brand" and let then manufacture/ take the risk for either sale royalties or a one off payment.

I started off saying "I'll get it made and see if it works" but the cost of getting one made means I may as well get 500. So I bought 500 and sold half and sent half out as marketing samples. And now I've ordered more stock to keep up with demand but hate that the risk is on me, the margins aren't big enough to take on an investor.

You only need to register with companies house once you start trading. The most important thing is the patent in your case (min 3k) If you want to sell it the idea you don't even need a name for it, if you want to sell the 'business' (branding, website, supplier, retail contacts etc) then the risk is all on you and bear in mind most retailers want a 70% mark up. So if the product costs you £1 to make, you sell it to retailers for £1.50 and they will rrp it at £2.55. Will your customers pay £2.55 or is it only really worth to them £1.50? Sorry that's not very clear but hope you get what I mean. Think of what people would pay, subtract 70%, then subtract the cost price and see if what's left is worth it for you. Also those retailers will want exclusivity for 1 year- that's a big risk too.

Getting it made is easy enough, I did mine through Ali baba but came close to getting ripped off a few times, by the time it was shipped and i paid import tax I would have been better off using a uk sourcing company. The quality is guaranteed and much easier to deal with. One I highly recommend is effectual sourcing- I did a tonne of research with different companies and they came out cheaper and easy to work with.

Hope that is useful, sorry if it is slightly negative, I'm projecting my own naiive self! Good luck, there is nothing better than seeing a physical product on the shelf which came from your brain!!

Eggybread00 · 10/03/2015 13:01

Just an idea, but to see if its worth investing in the patent you could do a drawing to scale, materials required etc, rough idea on packaging materials and send through to a uk sourcing company with a non disclosure agreement. Find out cost to manufacture. If you think the numbers will work then get your patent, decide whether to get investor (crowd funding possibly) or fund yourself through savings or loan.