When you already own a business, launching an invention of your own product can be made that much easier. Since you already have existing sales and a customer base, you will be ahead of the game when it comes to the important task of marketing your creation. It can also be easier to fund your invention, even if your business doesn't have the cash flow to cover the up-front costs.

Steps to Launching an Invention

There are many steps that lead up to launching an invention - having a good idea is only the first step.After you've done market research and determined that there is a sufficient market for the product and that it fills a real need or strong desire, it's important to file a patent to protect your idea. There may also be licensing requirements and other state and local regulations to make sure you are in compliance with.

Then you need to figure out how to make the product in the quantity you want. Will you manufacture here in America, or overseas? How do you make sure the product will be a quality one? You want to find a quality manufacturing source that is affordable enough to allow you to make a fair profit on the finished items.

Other steps that need to be taken are setting a price, figuring out whether to distribute the product outside your own business, and how to market it beyond the marketing you are already doing with your existing business. It can be a daunting process, one that is nearly impossible if you don't have the funding to pay for the manufacturing up front.

Costs of Launching an Invention

Manufacturing is probably the biggest cost of launching an invention, so it's important to get the best possible deal there. Once you have the product ready for distribution, you shouldn't be afraid to spend money marketing the product. No one can buy a product that they don't know about, and in many cases good inventions have failed to catch on because they weren't marketed enough, or in the right ways.

You can maximize your marketing by using a combination of free and paid tools. Social media is a major force in getting out the word these days: asking your followers and friends to share your posts as well as paying a small amount to boost them can be vital. You should also send press releases to local and even national newspapers and websites to get more coverage. If you can catch the attention of a media outlet, it will widen your exposure greatly and lead to many sales.

Funding the Launch

Finding funding to get your invention off the ground can be difficult, but a business cash advance can use your existing business sales to qualify you for thousands of dollars in cash to cover those initial costs. As you sell the products, you pay back a small percentage of daily sales via your mastercard and visa transactions until the advance is repaid, usually in less than a year.

A business cash advance can jump start your invention and lead to ongoing sales and profits. Quikstone Capital Solutions offers business cash advances to qualified businesses that can enable them to reach their goals.