Women inventors need help and direction on their ideas. According to the National Women Business Council, women are slowly increasing their patent applications. Since 1990, the number of patents from women have doubled but there are thousands of prototypes on the shelves at home and ideas stuck, scribbled on napkins because women don’t know where to turn for help and advice. Dhana Cohen is helping entrepreneurs find everything they need at the Women Inventorz Network.
Dhana Cohen brings 25 years of experience as co-founder of the Women Inventorz Network. The Network is a go-to resource for women to gain knowledge, insight, find funding and ultimately is the bridge to help take an idea from paper to prototype and in to your homes. Increasingly, women are creating brands and practical products that solve everyday problems but getting to market and the masses can sometimes be a bear. The Women Inventorz Network is a landing pad where business owners can connect with other budding and more experienced entrepreneurs.
Dhana helps women figure out first, if they’re an inventor and next how to develop their idea into something sustainable in the marketplace.
If you have a great idea and don’t know what to do next, take a look at Dhana’s Top 7 Tips for figuring it all out.
1. Research is your best friend! Utilize the web, and search for all likeable “keywords” that relate to your idea. If there is competition, and you think you could do it do it better, smarter, less expensive. Then consider your options carefully. Don’t be afraid to walk away from your idea before you actually spend any money!
2. Create a simple prototype, cut, sew, use a glue gun…whatever it takes, get feedback from your target audience. Friends and families will be honest. Listen to their opinions because they want you to succeed.
3. If the idea passes through these first steps, and you have the ‘go ahead’ from your family and friends “market research” then read on:
· Go to google.com/patents to see if your product idea is out there…if you can’t find it by the keywords (from above), then you may be onto something…
4. Protect, protect, protect! Certain ideas are patentable, some are only capable of being Trade Marked. Hiring an attorney to figure this out before you spend any more money is critical.
5. Watch out for the “sharks” which promise everything, and expect you to invest your life savings. If it sounds too good to be true, it probably is.
6. PRICING is KING! Retailers control your retail price, make sure if your idea is new to the market, you give yourself enough margin to be prepared for retailers to negotiate down from your wholesale.
7. Cost is more than just the development of your product, its packaging, liability insurance, shipping in and out, edi fees, etc. You are essentially starting a business, and so much more, so it’s important to break down all of your costs.