We got our start as entrepreneurs by inventing, developing and licensing the Battery Buddy, a device that prevents dead batteries on cars and boats. And the invention prototypes we built were critical to our success in ultimately licensing the product to a multi-billion dollar NYSE company.
Invention prototypes are crucial because they go a long way toward proving your concept to potential investors, customers and suppliers – and to yourself. Many experts agree. “The whole reason to do a prototype is that it can help you accomplish a lot without your having to invest too much in the product idea or commit to it early on,” says Bob Cannon, chief executive officer of Cannon Advantage, a management consultant in Burton, Ohio, who specializes in bringing inventions to market.
Build an invention prototype at the right time
Make sure you’re thinking about a prototype all along and that you put one together, even if it’s a crude one, earlier than you think rather than too late. That means constructing an invention prototype long before you buy tooling to build your product or seek a contract manufacturer.
You may actually want to construct a prototype even before you get too fancy with computer drawings. “You can burn up a lot of money on engineering drawings when maybe what you really need first is a chunk of papier mache that shows what you’re trying to do,” says Andrew Nolan.
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