Feasibility Package

When You Have A Great Idea, You Want To Know If It’s Feasible…

BEFORE You Decide To Invest Time And Money Into Product Designbig idea feasibility of your product

You’ve had a great product idea worming around in your brain for a while so find out the feasibility of your product. You’re convinced that it could be both profitable, and valuable to consumers. In your mind, there’s a market for the product. You see a need that your product would fill. You just don’t know how to determine whether or not your product design idea is feasible.

This Package Has Been Designed To Help You Solve Problems

Specific To New Inventors And The Feasibility of Their Untested Product Ideas

We’ve responded to the needs we’ve seen from our customers. Often clients come to us—hesitant to go forward because they have too many questions and concerns about the feasibility of their product. It’s a challenging new frontier if you’re unfamiliar with the terrain. We’ve designed this package to help you with the following problems.

  • You have a great idea, but don’t know yet if it’s a viable product. Haven’t seen anything else like it on the market, but you’re not sure you’ve done adequate research. Simply do not know how to ascertain feasibility.
  • Don’t want to spend a ton of bucks only to find out that your idea isn’t feasible. You have money to fund the product, but want to take a structured approach. You need to know what your initial costs are going to be, and you’re ready to invest a preliminary amount for a feasibility study.
  • Don’t know if your idea is patent-able. It’s a complex process to apply for a patent, but you want basic research done. You need to know whether or not your idea infringes on an existing patent. That’s at least a starting point.
  • You’re wondering if you’re financially capable of turning your idea into a product. We’re all a little afraid of being misled and having our bank account milked. It’s completely understandable that you don’t want to write a blank check. You need to get clear on exactly what it could cost you to take your product idea to completion.
  • Expect to end up with a clear decision at the end—and a plan going forward. You’re willing to invest in a process that provides you the information that you need to make a decision. If you decide to go forward, you want a clear path.

When You’re Considering Purchasing A Package

More Than Anything You Need To Know What You Can Expect As Outcomes Of The Feasibility Package

You’re willing to lay your money down to test the feasibility of your product. First though, you want to know exactly what you can expect to get for your investment. These are the outcomes you can expect from this package.

  • You end up with clear information on the viability of your product idea. A solid report providing research about competitive products. You end up with recommendations and options about how feasible your product is.
  • Pay a set package price to ascertain the feasibility of your product idea. You’ve used a structured approach toward turning your idea into a product. With a set price to cover initial feasibility costs you’re able to manage your expenses.
  • You have a report of initial research on the patent-ability of your idea. We’re not patent attorneys, and at some point we may recommend a patent attorney for you. We provide a report on initial research to see if your idea infringes on existing patents. That’s the starting point you need to make informed decisions.
  • A clear estimate to ascertain if you’re financially capable of turning your idea into a product. You get a sense of confidence because you’re no longer afraid of being misled. There’s no reason to fear that you’re writing a blank check because your costs for this package are set. You end up with solid preliminary cost estimates on taking your product idea to completion.
  • The information needed to make a clear decision at the end—and a plan for going forward. You’ve invested in a process that lays out information customized to your product design idea. You can make a decision. If you decide to go forward, you have a clear path ahead.

Benefits are The Next Thing You Need To Understand

When You’re Considering Purchasing The Feasibility Package

This package delivers a nice tight portfolio of benefits. It’s been designed to give you what you need to make an informed decision about your product idea. These are the benefits you will receive from this package.

You give your dream a chance to become reality. For a reasonable price, you go through a structured process to determine the feasibility of your product design. You end up with a written report and a preliminary rendering of your design.

  • Understand what it would take to turn your idea into a product. You’re not guessing. You’re not fantasizing. You have hard data based on research. You get preliminary cost and profit projections.
  • Get to see what your product could look like. You’re starting with a professional drawing if you decide to pursue manufacturing your product. This may be first time you see what your idea looks like. It’s no longer just an floating around in your brain.
  • Solid information to help you decide whether or not to go forward. You get professional input on feasibility, advisability, and options. You have facts to base your decisions on. After thinking about your dream for years, you now know whether or not it’s a go.

It’s Critical That You Understand Exactly How This Feasibility Package Works

That’s The Only Way You’ll Know That You’re Getting Exactly What You Need

We like to lay out all the details of our packages to demystify our services. It also helps you understand exactly what you are buying. Especially because many of our clients are newbie inventors, we want to make it easy for you to test out the feasibility of your product idea. Once you pay for the package, here is the step-by-step information on how this package works.

Phase 1—Project Kickoff

Step 1: We Sign A Non Disclosure Agreement (NDA) With You

non-disclosure agreement for feasibility package
Non disclosure agreement

Before we even have a conversation about your product idea, we put an NDA in place.If you’re not familiar with this agreement, it is legal protection for your idea. Feel free to ask us for a copy of this agreement so that you can read it in advance and/or run it by your own legal adviser.

We’re adamant about protecting your intellectual property. That’s why we start with an NDA. We’ve had an attorney put together a tight agreement for your protection. If you have any questions about this, we welcome hearing from you.

Step 2: Interview

Once the NDA is signed, we set up our initial interview. The purpose of the interview is for you to introduce me to everything you have about the feasibility of your product idea. This varies from customer to customer.

For some clients, it’s really just a bare idea. Other clients come with plans, hand-drawn sketches and more. Wherever you are, we will work with you. These are some of the items we cover in the interview.

  • What is the idea and how do you see it working?
  • What are the specifications you imagine for the product?
  • Do you have anything in writing, plans, drawings, sketches?
  • Do you have a model or anything 3D?

We use a structured questionnaire/process for this conversation to help determine the feasibility of your product. We do it that way to be sure we don’t miss anything important. It’s critical that we don’t forget to ask you anything. You get the benefit of our past experience in this process.

Phase 2—Research And Analysis Of Product Feasibility

Step 1: We Do Market Research On Your Product Idea

market analysis for feasibility package
Market analysis

We use a structured approach to researching the viability of your product idea. We have a master list of information that we research for every client. This structured approach ensures that we cover everything. Here are a few of the items we research for you.

  • We review products that might be direct competitors, and identify how your idea is unique from anything in the market.
  • Do a basic patent search to discover if competitors have any patents you might be infringing on. We’re not patent attorneys. At some point in the process, we may recommend you hire a patent attorney. At this point in the process though, we’re doing the basics for you.

Step 2: We Take All Our Research and Analyze The Viability Of Your Product Idea

Once we’ve completed our research, we get into the analysis phase. Here we get down and seriously analyze the viability of your product idea. This is the meat of the project. Here are some of the kinds of analysis that we do for you.

  • Dig into the research and analyze what we found.
  • Summarize the market research and analysis and interpret the results for you.
  • Give our professional opinion on a projected price you might sell the product for.
  • Provide a preliminary quote on costs. This preliminary quote is exactly that—preliminary. There are likely to be a lot of variables in the development process down the road. We provide ballpark costs to help you understand your numbers so you can decide about the next step. It’s important that you realize that in-depth research is likely to be a part of every phase of your project.
  • Make professional recommendations about the following:
  • What your options are.
  • What steps you would need to take to get to your goal.
  • Recommendations on materials and manufacturing processes.
  • Recommendations on potential design changes, alterations, or improvements.
  • Profit projections for different tiers of investments and different circumstances.

Step 3: Create Written Report With Recommendations and Rendering

Next we capture all the information in a written report for you. We develop a professional rendering of your product design. Everything is packaged into a nice neat presentation for you to professionally relate feasibility of your product.

Phase 3—Project Windup

Step 1: In-Person Or Conference Call Review About Feasibility Findings

Now the fun part where you get to learn what we’ve discovered about your product’s feasibility. It’s exciting and we share your excitement. Here’s where you get real facts about your product to help you decide your next steps. This is a description of what happens in our conversation.

  • Report our findings about your feasibility of your product. We make sure you understand all the fine points.
  • Discuss with you our recommendations for the product.
  • Talk about how you feel about what you’ve learned and your inclination to go forward or not.

Some clients choose to go to the next phase, and others will decide it is not feasible for them at this time. Often clients remain committed to the product design, but don’t feel ready to go forward immediately. We stay in touch with those clients who indicate they want to continue in the future.

Step 2: Discussion On Next Steps

Advised Decision

Once we’ve discussed our results with you, we explore your readiness for next steps.Some clients will decide that—given the information we’ve uncovered—they decline moving forward with the project.

A high percentage of clients are excited to find out that they have a viable product idea. They want to know what to do next. They need to understand how the next steps work and what the costs are. We discuss all those concepts with you. When we’re finished, you’ll know what happens next and be able to make a decision.

If You’re Interested In Discussing This Package

Call Now And Let’s Start The Ball Rolling!

If you’ve read this page and feel excited, be sure and take action now. There is no charge for our initial conversation. We’ll answer any questions you have, and support you in pursuing your dream for your product idea.

Where To Next?

Now that you understand how the Feasibility Package works, you may want to review our Initial Design Package to begin the design process. For the full details of that service, go to Initial Design Package, link.

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