Preparing for Market
Warranties

It is also important to offer customers at least a limited warranty on their purchase. For example, the warranty on a product could state, "If this product breaks or fails to operate within 1 year from the date of purchase, you may send your damaged product in to receive a brand new one." Including a warranty will persuade potential customers to buy the product if they are worried it is cheap or looks like it might not work.

Obviously, there should be limits on what is replaced by the warranty. Goods broken purposefully or from lack of care shouldn't be replaced by the warranty at a loss to the inventor.

Psychologically, knowing that their investment is safe affects customers buying decisions. It is a good idea to let customers know that the product is safe and its creator is Product-Smart.

Paper outline

• Protecting inventions
  • Patent search
  • Provisional patent
  • Formal patent
  • Patent lawyers
• Manufacturing the product
  • Manufacturing choices
  • Manufacturing prototypes
  • Shipping & importing
• Getting resources and financing
  • Needed funding & business plan
  • Where to get funding
  • Tips
  • Conclusion
• Testing the market
  • Potential customers
  • How much will they pay?
  • Survey potential customers
  • Barriers to entry
  • Know the competition
  • Conclusion
• Preparing products for market
  • Legal & financial protection
  • Packaging
  • Manuals & Documentation
  • Warranties
  • Full package creation
  • The Web site
  • Money, invoicing & taxes
  • Shipping & distribution
  • Conclusion
• Closing thoughts
• Download the entire paper

Check out the Silent Timer Web site to see the product Erik took to market. Contact him with any questions.