Marketing Your Invention on a Shoestring
As an engineer, Douglas Hoon’s interests and focus have always been on the product development and commercialization cycle. It’s certainly the area where he has the most experience and confidence. Unfortunately, in the overall scheme of things, product development and commercialization turn out to be a very small part of the formula for success. Probably more important is your business plan and the actions you take to market your idea and build the necessary relationships you will need to get it made in steadily growing volumes.
In this post, Mr. Hoon focuses on the marketing aspect, and he uses his own product as an example.
Several years ago, new assault weapons statutes were passed in Connecticut that severely limited the options available to prospective gun owners for AR-style rifles. Mr. Hoon carefully studied the law, consulted with an attorney, and developed three products that he believed met both the letter and spirit of the new laws. Two of these ideas were focused on creating fixed magazine versions of an AR; the other was designed to convert the semi-automatic action of the AR to a pump-action manual action.