What to do with an idea for a new product?

[fluffy_little_something]

I have had an idea for a new music hardware that I think would sell well. Checked on the Internet today, doesn't seem to exist, yet.
So, how to do it? Are there any companies that are open for ideas, ideally giving me a certain percentage of every item sold?
Companies that are honest enough not to steal my idea while telling me they are not interested?

I don't have the money and ambition to found my own company and develop/manufacture it myself, of course.

[BMoore]

Crowdfunding.

[BMoore]

Can’t wait for a new music hardware.

[fluffy_little_something]

Crowdfunding.

But I would still have to find an engineer somehow who turns my idea into a product. I am already working on the details and operation, but someone would have to implement it all.

[tehlord]

Nobody is going to give you a percentage for an idea that they then put all the effort into.

[fluffy_little_something]

Nobody is going to give you a percentage for an idea that they then put all the effort into.

That's not very nice of them

[justin3am]

I wouldn't say it's impossible but certainly difficult. If you are not working for the company directly, it's unlikely they would be willing to pay for your idea. The ideas which I pitch are not always developed by my employer. Ideas pitched by customers are discussed and considered but usually those kinds of unsolicited ideas are rolled into existing projects, if they are actually new/useful concepts. I'm not saying that people shouldn't pitch ideas or make feature requests. Just describing the process at the companies, where I have worked.

Many companies who make music equipment have a back-log of ideas for new products which must go through a process (usually driven by a product manager) before the product is made. Any of the companies to which you might pitch your product may already be working on a product which is the same or similar to a product they are already working on. They likely would not tell you if that were the case.

The job of a product manager is not only to come up with an idea for a product but to write the specification in a way in which the engineers can implement the design. They then work with the engineers and manufacturing team throughout the development process to make sure that everything is working according to the specification. That is just one aspect of the product development process.

So even if a company agrees to develop your idea, there is a lot of work to done, in turning an idea into a commercial product. Most of the people working on a product don't get a percentage of the revenue or profit from a product they developed. Instead, they get a salary.

[Hink]

in other words you need a fish to catch a fish?

[fluffy_little_something]

Thanks for your insight, Justin.

[vurt]

write it on a piece of paper.
attach to a helium balloon.
release.
if its a worthwhile idea fate will take it to the relevant person to make it real.
or it will end up in the sea.

[BMoore]

Crowdfunding.

But I would still have to find an engineer somehow who turns my idea into a product. I am already working on the details and operation, but someone would have to implement it all.

Worry about the funding first. There are thousands of companies that does the rest.

[vurt]

Crowdfunding.

But I would still have to find an engineer somehow who turns my idea into a product. I am already working on the details and operation, but someone would have to implement it all.

Worry about the funding first. There are thousands of companies that does the rest.

id imagine its easier to hire an engineer if you already have a wedge of cash?

[fluffy_little_something]

Crowdfunding.

But I would still have to find an engineer somehow who turns my idea into a product. I am already working on the details and operation, but someone would have to implement it all.

Worry about the funding first. There are thousands of companies that does the rest.

Can you recommend a crowdfunding platform?

[BMoore]

Crowdfunding.

But I would still have to find an engineer somehow who turns my idea into a product. I am already working on the details and operation, but someone would have to implement it all.

Worry about the funding first. There are thousands of companies that does the rest.

id imagine its easier to hire an engineer if you already have a wedge of cash?

It may be best to have some sort of financing for an engineer first.

[justin3am]

in other words you need a fish to catch a fish?

Yes, but it works sequentially. With a small fish in hand, you can catch a bigger fish... and with that fish, you may be able to catch an even bigger fish. Eventually, you may have the opportunity to be the big fish but then you risk being caught yourself.

Actually, I'm not sure if that metaphor really works.