innovation. We see new products and inventions nearly every
day. But inventors all claim to have the next greatest
thing. Inventors tend to see their inventions as their
children. Marketers see inventions as opportunities.
Remember that in order for any invention to achieve high
volume sales, it needs to be treated like a viable business.
Emotional decisions don’t often help the product or your
checkbook. Don’t spend money on inventions because you want
to succeed. Invest in opportunities because they are
prudent. Here are a few things that inventors should be
Is it already out
inventors get frustrated when they pitch an idea and come to
discover that the idea, or something nearly identical, is
already out there. They often find that the idea is already
patented. Practice patients before you pitch. Do a little
research to find out if you really are the first to come up
with the idea. The by-product will be a good understanding
of what else is out there. Here are a few places you can
search for products:
and Trademark Office –
Global sourcing sites like Alibaba -
It is amazing
what you can find in a simple Google search however today
people post new products on YouTube hoping to find sales and
Will it sell?
Is your product
really a good idea? Ask yourself these questions to help
What is the
problem that the product solves?
Does it save time, money or make life more fun?
What does this product promise to the user?
Will people other than you want and use it?
What is the main reason that people will want or need
Will the purchase price justify the benefit?
Where will people keep it when not in use?
Can it be manufactured for 1/5th of its selling price?
What claims can you make?
Can a third party validate the claims?
It is important
to understand that for a product to be viable; it has to be
something that people recognize will positively impact their
life, can be manufactured and sold within the industry
guidelines of sales and distribution and has claims that can
be validated by a third party.
commercial potential of your product of get a professional
evaluation. Know the market, know the opportunity and know
when to move on to the next idea. It is also important to
stay within your area of expertise. If you are a good
inventor but have never run a business, don’t try to do it
alone unless you have money you are willing to lose. Align
yourself with a license partner, distributor or marketing
company that has the expertise the product needs to succeed.