It's hard enough coming up with a new idea for a product.

But once you've had that idea, how do you go about getting it off your drawing board and into production?

Matt Bower has done just that.

He and his friend Alex Sperling have invented a new bit of kit for storing bikes.

It's called the Ecolatch and is designed to store bikes in tight places.

You attach it to a wall, and then click your bike into it.

Development

Matt and his friend have spent the last 12 months developing their idea, having a prototype made, patenting it and trying to stir up interest.

They've just launched it at the International Cycle Show.

It's a showcase event for the cycling industry. Hundreds of companies were there showing off their new products.

And as well as ordinary cycling enthusiasts, it was attended by buyers from the major retailers.

It's one of those that Matt is hoping to attract.

Strategy

"The secret is distribution. If you can get a major retailer to stock your product, you have instant access to a mass market," says Matt.

Matt know from experience how hard it is to break into the market.

"Despite the fact the cycle industry is worth some �500m per year, it is affectionately called a 'cottage industry' which despite its romantic connotations basically means it's a small, tightly knit place which in general doesn't take too easily to new innovative ideas being thrust in front of it.

"This was apparent after our initial encounters with a couple of well-established cycle accessories distributors, who told us that they were refining their product lines and only selling proven goods.

"Instead we started to approach large retailers who had a proven track record in being successful at reaching large numbers of consumers and pro-actively selling products."

This strategy appears to be paying off.

Response

They have already had interest from the Innovations catalogue and the QVC Shopping Channel.

Alex Sperling

But before either will commit they need to see the completed product, not just a prototype.

Plus they'll want guarantees that Matt and Alex will have the production back-up to meet demand.

"We've found a manufacturer in the Midlands who will make the Ecolatch for us.

"Originally we had intended to have it made in the Czech Republic, because it's so much cheaper there, but we decided that if we had to visit the factory to check on the production, it would work out cheaper to make it here."

Matt and Alex have ordered an initial supply of 5,000 from that firm.

They are hoping they'll be able to get enough orders from the cycle show to make that investment pay.

Both Matt and Alex are keen cyclists, but neither has any experience of business or manufacturing.

Hurdle

Their first hurdle was to decide what material to make the product from.

They sought advice from their local university's Materials Science department.

And they also visited production plants and foundries.

After extensive testing of various prototypes, they plumped for metal rather than plastic.

"At the same time as accumulating product information we had to learn the ins and outs of starting and running a company," says Matt.

"This is a factor that most definitely should not be underestimated by people hoping to turn an idea into a profitable venture, especially if they intend to control its patents, manufacture, packaging, distribution, marketing and sales as we are."

Help

Matt and Alex made a lot of use of free business advice from the likes of the Prince's Trust and Business Link.

"If they like your business plan and feel you have potential, they may even offer to back you with a grant or loan of up to �5000 which they did in our case."

But getting an idea off the ground isn't just about official advice.

"We have no shame in admitting to making use of a lot of our friends and colleagues who were able to help in matters as diverse as helping to build our website, to taking studio photographs of the product.

Overheads

"At the end of the day starting a company from scratch is very much to do with keeping your costs and overheads down, so finding friends that can help out at 'mate's rates' (usually equal to a beer or two!) is always a bonus.

"I'm sure they will be around when the Ecolatch starts to seriously take off, so they will reap the benefits then."

But no matter how good the idea is, and no matter how many chums you have supporting your venture, marketing remains the key to success.

"A cousin of mine told me, 'You can have the best idea in the world, but if you don't market it and sell it right, then it will never happen!"says Matt.

Research

Together Matt and Alex have conducted a lot of market research, including their own High Street surveys carried out in five cities across the UK. "You need to know your target market," says Alex.

"In our case we initially thought along the lines of cycle enthusiasts, however we soon came to realise that although enthusiasts will definitely make up a percentage of our target customers, our product appeals to cycle owners in general which is a much broader market."

Student Guide

Matt and Alex live in a flat with little storage space but both love their bikes.

They don't want them to be nicked so they can't leave them outside.

They don't want the neighbours to be falling over them all the time or they'll get fed up.

They went in search of a solution.

"Necessity is the mother of invention" may be an old fashioned saying but there's a lot of truth in it. This was a real problem which lots of people have to deal with.

A bike gives cheap, green transport but where do you park it?

Many people just don't have room.

Matt and Alex followed a well-trodden route when they sat in the pub and put their heads together.

Good ideas often grow from the back of a beer mat!

Their search for a practical solution ended up with the Ecolatch.

It must have been convincing because the Prince's Trust and HSBC put up money to help them get going.

Just think...

Have a look at the product

Imagine the original idea on the back of the beer mat.

Make a list of all the things they had to do before asking people to support their business venture.

The USP

Ecolatch is a completely new idea.

There are all sorts of ways of storing bikes.

Many are not very secure, take up lots of space or mean lifting bikes up onto the roof.

It's unique selling point is that it avoids all these problems.

It's a quick and easy storage system.

A product that has a feature that is completely different from anyone else's has a USP.

It helps to sell the product and is usually a key feature of a marketing campaign.

If customers can't buy anything similar, it makes the product very attractive.

Ecolatch is using its USP to sell its product.

Just think...

Make a list of products that you use and work out whether they have a USP.

If so, think about how the business uses its USP to its advantage.

A USP for success

Have a look at the front of your text books. Do any of them say "for Edexcel, OCR or AQA" on the front?

If so, they have a unique selling point.

The only book for a particular GCSE is "unique" so it must have a market among the students who take the course.

Anyone in marketing knows that a USP is invaluable.

It gives a marketing campaign a very firm foundation.

If you look at adverts, you can quickly tell the ones which have had to create a focus for the ads from the ones which work on a very distinct USP.

Lots of shampoos make hair shiny, lots of washing up liquids wash dishes cleaner and all banks have great customer service!!

Do we really believe them?

A USP can make the difference.

If a product has something that makes it stand out, it's more likely to attract attention - but it does need marketing.

Great products can go nowhere if people don't know about them.

Alex and Matt need to market their product to the retailers first.

They need to see it on the shelves of shops where bike owners go.

You can buy the Ecolatch from their website but you have to know about it first, then go there deliberately.

If it's on the shelves, people will walk past and think, "Wow, that's a good idea. Must have one."

Just think...

If you were Matt and Alex, how would you market their product?

Have a look at some ads.

Can you pick out the ones which have a genuine USP from those which are selling the same old thing?

Remember marketing people are very clever.

Don't be taken in!