Inventing

I am currently working with my dad to make an invention. The deal is that I make the proof of concept model and that he then does the productizing of the invention.
The steps involved in inventing are as follows:

1. Market research: If you google the invention is there another product like it that has already been made and how well does that market seem to be doing in sales.
2. Proof of concept: If the previous step resulted positively, then you make your proof of concept model that doesn't need to look pretty or anythings but just needs to work.
3. Initial market testing: Then you make a limited run of maybe 30 units to test the market and see if it sells and keep a record of sales and feedback and fix any problems that customers experienced with the product.
4. Patenting: Only patent when you are sure that there is a market for your invention and that it hasn't already been created before, to not have to pay the high patenting price. And some inventions are not patentable, like electronics, because there are always different different circuit diagrams that perform the exact same function that a competitor can use. And you may get a "proprietary patent" or a "copyright" instead.
   
5. Production model: Now after all of the above are completed you make a production model. That is exactly the way that it would be sold in stores. And with that model you also need to source all of the parts and prices and an assembler that will put the parts together and come up with a final cost and sale price and quote how many that you could have made for your retailer to buy from you.
   
6. Side note: You never buy your parts for the production model from a retailer because they inflate the price. So you need the wholesale mass quantities price from a direct manufacturer of parts.
7. Now you're in business: One of the best businesses to be in is this kind, because the people buying a specialty item sometimes don't care how much they pay for the item. They only care about whether they need it for their business or not, and will buy in mass quantities from you the supplier, all in one purchase, just because it's easier to just do the paperwork once. So you can get a years worth of sales done in one sale and have a high price on that item you"re selling, if it's a specialty item in demand.
8. Supply and demand: That's what drives the entire economy.