Statistics suggest that patent applications are at an all time high within the last few years. More people than ever see a clear path from idea to marketplace, but keep in mind that it’s not as easy as coming up with an idea and watching the checks roll in. You must create a solid business around your invention to get the most out of your idea. These tips can help.

• Start with Feedback: Your family members would support your idea even if were a really poor one. Instead, you want authentic feedback from those who would be in your target market. If they’re in before you spend too much in development, you’ll know how to move forward.
• Create that Business Plan: You’re going to want to plan everything as closely as possible. Learn how to write a business plan, then create one. You can always adjust it as you move forward. The best part of this step is that you’re more likely to get the capital you need to make your business successful if you have a solid plan in place.
• Start Making Sales: You’ll want to do what it takes to actually begin bringing revenue in. Ever wonder why one of the first questions investors on reality TV shows like Shark Tank ask is “How are your sales?” People don’t want to make an investment in your company if no one is buying. Sell in any way possible to start getting those numbers as high as they can go in the early stages.
• Network: Attend invention conferences like iFestival so you can work with others who share your passion. You’ll have a chance to learn more about the bumps in the road you may be facing in the near future, as well as make some contacts so you can get the funding you need.