Being in the invention ideas business, I get many questions, most asking, “Is my idea good?” It is difficult to answer, especially when the idea is the personal project of someone they have cultivated for some time.
So how do you know if your idea is good? Do some analysis I’ve always been a fan of collecting data and taking my concepts from this information for validation, or at least knowing how to turn my bad idea into a good idea. A good place to start is where you expect to end: the market. But before you go there, ask yourself a few questions.
Ask: What kind of product will my idea be? Which segment of the market will want to buy this product? What’s the use, and your audience big enough to justify it? If you solve a specific problem, are there enough people who have this problem to validate their existence in the market? Will it be used by older men, young women or teenagers?
After you answer questions like these, you’ll be ready to analyze the market. Depending on your answers, you should have a pretty clear idea of what kind of company would have a product like yours and which stores could sell it. Take a look at similar products. You may find that someone else already sells your idea, which is not necessarily bad. Think of it as a stepping stone to a different idea of invention. The product currently sold on the market does not have something? Find him and try to do something better. There are also experts like InventHelp who will help you and guide you through the process.
Gather all this data and try to better formulate your idea of invention. A thoughtful idea will make it easier to turn it into something of value, because the difficult part with ideas is that they are just that. It is very difficult to evaluate an idea to know if it is good or not. To really do this, you need to turn that idea into something, which is your invention or product. Now that has value on just one idea. You can try it out in real-life situations, you can interact with it and collect more data and even present it to a manufacturer or a company to get potential licenses, usually the ultimate goal with most ideas. Remember it’s not an invention when it’s just an idea. Anyone can have ideas, even their idea. I know it sounds strange, but we humans often think the same. But this is not an invention until you have created it. This takes time and effort.
In addition, the main benefit of thinking about your idea is to discover the manufacturing process. It may be a good idea, but if your cost of production far exceeds your market value, you will have trouble finding an interested party. You should get professionals from InventHelp to help you make everything right.
It’s like Edison said, inventing is one percent inspiration and 99 percent perspiration.