Determination and action. They’re the stuff of legend among entrepreneurs and inventors alike, and for good reason. History is filled with stories of successful entrepreneurs who just wouldn’t give up. What history isn’t full of, though, are the stories of those who didn’t win. Those who simply couldn’t get it off the ground. Those who weren’t successful. The simple reality is that most new inventions are the ones that just won’t make it. The market for new, innovative products is nowhere near as large as you might imagine, but how do you know if your invention is one that actually could make it in the real world? These tips might help you decide.

• Create a business plan. You’ll want to revise your business plan after you actually launch your business plan, but you’re going to need to do some pitching initially, and creating a business plan can help you do exactly that.
• Take a closer look at the industry. What products are actually working well within that industry? Is there anything out there similar to yours that might be competitive? Understanding what works and what doesn’t may help you decide whether to move forward.
• Think about your limitations. If you want to develop and sell your product yourself, you may need to do some research to learn exactly how to handle that. If you’d prefer to license it, you need to think about what might happen if licensing isn’t an option for you.

If after following this advice you still think it’s prudent to move forward, do so! Make certain you register for our invention seminar, too, to help you get your idea moving forward!