Feedback Form
Home Features Mastermind Forums About Advertise Blog Network Contact Be An Author

Entrepreneurs – You’ve Got That Eureka Moment, How Do You Capitalize On Your New Idea?

Entrepreneurs – You’ve Got That Eureka Moment, How Do You Capitalize On Your New Idea?

1) Very important - get the design patented. That is very important – you are going to have to tell lots of people about your new idea. Some of them may think, in the future, that it was there idea, others may just blatantly copy you.

2) Set up your company and decide upon a great name for it. When you describe your company, ensure that you company can expand it into other products and business areas.

3) Write your business plan, defining your business, financial and marketing strategy as well as your business structure. Approach your lenders for seed money/start up funds if required.

4) Decide upon your product name, your price points and your initial target market. Your price should be attractive enough so that a potential customer or retailer can afford to “try out” a new product, but high enough to ensure that you can make a profit.

5) Get some samples of your new product made up in several different designs and colors. Use different fabrics if appropriate. If you have to use an external manufacturer you may have to produce a minimum amount – so produce the most cost effective number and design options. Ensure you get a non disclosure agreement (NDA). Each sample should have your company and product name on it – either as a tag or stamped into it. This is to ensure easy product recognition when people take it away with them.

6) Go to an appropriate trade fair with your product and set up a stand. Have plenty of literature to hand out. You should be able to gauge interest here and hopefully take orders.

7) Approach potential retail companies with your success story. Start with the smaller ones and work your way up.

8) If you get a reasonable response/orders then off to the bank with a loan request so that you can start your business in earnest.

If you wish to start slower or don't have the capital to do the trade show - then start at flea markets, product parties and mall karts and work your way up.

Good luck.





Entrepreneurs Youve Got That Eureka Moment How Do You Capitalize On Your New Idea - To learn more about this author, visit 's Website.

Like this article? Share it with your friends

Article Feedback
 Article Feedback No article feedback found.
  Leave Your Feedback
article feedback

Article Feedback
Kim Castle
With nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website


To learn more about the Evan Elite Author Program please contact us.

About The Author


(Visit 's Website)

is a New Account author on EvanCarmichael.com
About The Author

View Author Blog
View Author Blog

View Author Video
View Author Video

Free Downloads


's

Complete
List Of
Marketing
Articles

Name
Email
If you enjoyed this article, get 's Complete List of Marketing Articles For FREE!

More
Web Sites What Do You Need To Do And More Importantly Not Do
Starting a New Business Your Business Framework What Scaffolding Do You Need
Entrepreneurs Want To Start A Business During The Recession
Entrepreneurs Youve Decided to Start Your New Business So What Comes First
Want to Increase Your Chance of Winning A Tender Or Bid
Entrepreneurs Have You Thought About A Loyalty Program
Your New Web Site Business What Different Business Models You Can You Use
Entrepreneurs What Do You Need To Ensure Before You Start Your New Business
Got Something Important To Say Getting The Word Out
Let One Of The Most Visited Sites In The World Do Your Marketing For You
Free Downloads


 
 
 


Evan Elite Authors
John Brennan  
John Alexander  
John Power  
Evan Elite Authors

Become An Author
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Become An Author

Evan's Latest Video
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media
Evan's Latest Video

Business Opportunities
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"

How to Start An Online Business

Click Here To Learn More
Business Opportunities



Evan's Newsletter
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Name:
Email:
Evan`s Newsletter

Free Downloads
Mental Imagery Icon Mental Imagery
Aromatic Networking Icon Aromatic Networking
Managing Generations Icon Managing Generations
How To Double Your Business Icon How To Double Your Business
Risk Management Icon Risk Management
Free Downloads - Complete List

Entrepreneur Tools and Guides
Top 50 Diversion Blogs
Top 50 Diversion Blogs
Top Diversion Blogs of 2009
 
Top 50 Blogs For Startups To Watch In 2008
Top 50 Blogs For Startups
Top Blogs To Watch In 2008
 
Entrepreneur Tools and Guides

SEO For Africa
SEO For Africa
Junia Poni Gudele, Sudan,
Junia Poni
Gudele, Sudan
SEO For Africa

If I Were A Startup...
John Zarei and Shaan Parekh , $516k to $1.5 Mil in 2 years
John Zarei and Shaan Parekh
$516k to $1.5 Mil in 2 years
Chris Nguyen, 30+ national clients on $0
Chris Nguyen
30+ national clients on $0
If I Were A Startup... - Complete List

Famous Entrepreneurs
Paul Orfalea, Kinko's
Paul Orfalea
Kinko's
Vince McMahon, WWE
Famous Entrepreneurs - Complete List

Entrepreneur Advice
Seth Godin, Ideavirus Author
Seth Godin
Ideavirus Author
Paul Kedrosky, Venture Capitalist
Paul Kedrosky
Venture Capitalist
Entrepreneur Advice - Complete List

Popular Articles
(Premium Authors)

     Loneliness in Business
By Helen Dowling
     Top Tips for Women Setting up in Business
By Helen Dowling
     Why you should keep an eye on your industry
By Helen Dowling

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

More Evan Carmichael
More Information