Ask Jo Malone: How to start turning an idea into a business

13 July 2015

Small business agony aunt Jo Malone gives her top tips on how to turn an idea into a fully-fledged business.

Dear Jo

I have a few inventions I would like to bring to the market. One involves women’s clothes while the other is for what I call a “multi-purpose trolley”.

I find myself with ideas but it’s hard to know how and where to start.

Ideally, I would like to work with at least one business partner who would believe in the product as I do. Unfortunately, I have difficulties in finding the right person.

Do you have any advice?

It’s great that you have such a passion and belief for your products. I meet a lot of people who have great ideas but they are just that, ideas.

They are not a business until you have put it into a physical product, otherwise no one will take you or your product seriously.

Concentrate on one idea at the time, and focus your creativity and energy on making that a reality. So is it a multi-purpose trolley or women’s clothing?

Have a strategic vision and channel your imagination. Edward de Bono’s book Six Thinking Hats is well worth reading as it helps focus the mind on one subject.

Remember success is not just about having a great product, it is about the whole package.

I asked Heal’s creative director Carmel Allen for her thoughts on your question.

She advised: “Many designers have great ideas but they haven’t thought them through to shop floor, and the customer’s home. Can it be made with good materials and still be sold at a reasonable margin? Is there a market for it? If so, where would you retail it and how many would you sell?

“Only if we have a good sense that all the above can be met do we put a piece into prototyping. If you think you have a great design idea, we have Heal’s Discovers Open Call each year, where usually four designs go from concept to shop floor. The Design Council also have an innovation fund.”

With any new concepts and inventions you must also think of intellectual property: is the product patentable? You don’t want someone using your idea.

Frederick Mostert, author of From Edison to iPod: Protect Your Ideas, says: “Protect your designs through intellectual property protection. You often need some form of legal protection to stop competitors or counterfeiters copying your unique inventions.

“In this case, develop your design rights, copyright or possibly patent rights and definitely make sure you trademark your work.”

Good luck and happy inventing.

Who knows what idea could change the world?

Ask Jo Malone: How to start turning an idea into a business

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