| What does it take to turn an idea into a
| |
| | fraud. Ask for references and products
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| product? How can I realize financial gain
| |
| | currently on the market as proof that you
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| from my idea? Where do I start? These and
| |
| | are dealing with professionals, not
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| many other questions swirl around
| |
| | charlatans.The hardest question for many
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| would-be inventors and entrepreneurs as
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| | inventors to confront: How to harvest
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| they seek to bring new products and
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| | financial benefits from their invention?
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| services to market. The process can seem
| |
| | Licensing, self-marketing the product,
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| daunting for anyone making a first
| |
| | funding, partnership, strategic alliance
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| attempt and confronting the typical
| |
| | or outright sale of the opportunity are
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| hurdles and roadblocks the marketplace
| |
| | among the options to be considered.
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| utilizes to cull the field.I look at
| |
| | Typically, the inventors background,
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| hundreds of products each year and have
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| | experience, interest and financial
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| done so for almost 30 years. The ideas
| |
| | realities make the choice more obvious.
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| that succeed invariably consist of the
| |
| | It is usually good to have professional
|
| same basic elements.One, an entrepreneur
| |
| | guidance when weighing appropriate
|
| with passion, a realistic view of the
| |
| | strategies for harvesting income from a
|
| opportunity they have created and a
| |
| | project.A working model or a production
|
| flexible attitude to the inevitable
| |
| | quality prototype of the piece will be
|
| critique and changes the original concept
| |
| | essential in researching manufacturing,
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| will undergo. The world is full of
| |
| | costing production and for presentations.
|
| dreamers. Successful entrepreneurs work
| |
| | Do not cut corners here. Be as
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| non-stop in pursuit of their
| |
| | professional and thorough as possible in
|
| well-designed goals.Two, a new product or
| |
| | displaying the unique performance
|
| service concept that fills an
| |
| | benefits and features of the product. You
|
| identifiable market niche. The niche can
| |
| | only get one chance to make a strong
|
| be a completely new product category
| |
| | first impression.A customized Business
|
| (think Windows, XM Radio, E-Bay) or a
| |
| | Plan or Offering Document will be crucial
|
| small piece of a vast, mature market
| |
| | in successfully presenting the product
|
| segment (Sam Adams Beer, Coach, George
| |
| | for consideration. Decision-makers
|
| Foreman Grille). The Unique Selling
| |
| | typically see many, many products each
|
| Proposition is the element that enables
| |
| | year. You need to stand out and that
|
| the product to be positioned as an
| |
| | requires an exciting plan. Do not buy a
|
| advance, offering different, improved
| |
| | Business Plan template off of the
|
| features and benefits. The world doesn't
| |
| | inter-net and fill in the blanks. It will
|
| need another mousetrap, unless, you can
| |
| | not be read. Make the document as
|
| prove a method to catch more mice.Three,
| |
| | exciting as your product.The steps
|
| before running off to a Patent Attorney,
| |
| | reviewed above typically result in a
|
| display or discuss the opportunity with
| |
| | thinning of the new product herd. In
|
| family, friend's, co-workers you trust.
| |
| | order to successfully place a service or
|
| Would they buy if available? How much
| |
| | product in this very aggressive,
|
| would they pay? What don't they like
| |
| | cluttered marketplace no shortcuts are
|
| about the widget? Any improvements they
| |
| | tolerated. Inventors, entrepreneurs and
|
| might suggest? This is a form of
| |
| | small businesses are an amazing breed and
|
| micro-test market. Also, search the
| |
| | a valued national asset. The wealth
|
| inter-net, United States Patent and
| |
| | created and generated by this group of
|
| Trademark Office, visit stores and
| |
| | idea pioneers is the American economic
|
| diligently study the competition. If you
| |
| | difference maker. There has never been a
|
| feel confident that the market is not
| |
| | greater time or place to launch that
|
| offering anything like your concept then
| |
| | needed new product, and the rewards have
|
| you potentially have a significant
| |
| | never been greater.Geoff Ficke is
|
| commercial opportunity and should seek
| |
| | President of Duquesa Marketing, Inc. An
|
| copyright, patent and trademark
| |
| | international consulting firm, with over
|
| advice.There are many ways to proceed.
| |
| | 30 years experience in creating
|
| You can attempt to self-market your idea.
| |
| | customized strategies and business plans,
|
| There are numerous reputable consulting
| |
| | product development and funding
|
| firms that can offer comprehensive
| |
| | opportunities for entrepreneurs,
|
| services. Many colleges and state and
| |
| | inventors and small business expansion.
|
| local governments offer small business
| |
| | Mr. Ficke is also a Senior Fellow at the
|
| incubators and can be an excellent
| |
| | Page Center for Entrepreneurial Study at
|
| resource. A caution, though. The late
| |
| | the Miami University Business School,
|
| night infomercial selling patent services
| |
| | Oxford Ohio.
|
| that will make you rich is always a
| |
| |
|
