How to market an idea… If my idea is a good idea!
Before you start thinking about how to market an idea, you first have to ask yourself: is my idea a good idea?
It is very easy to convince yourself that you have a fantastic idea that will be a big hit in the marketplace. Maybe you developed it to help you and your best friend with a specific task. But maybe this idea will only be useful to you and your friend. Just because you thought it would be great doesn’t guarantee it will make it to market and be a success.
Developing an idea takes time, dedication, and money. You may be able to cut corners on some processes but during this initial development phase, look for professional advice. Look for a company like Spark Innovations, a product development firm with years of knowledge and experience taking ideas from concept to manufacturing and into the marketplace. We will help you assess your idea to identify whether the product serves a purpose. Here are some of the ways we can help:
• We will question your idea to see if it solves a problem that is not just your problem. In other words, we will answer the question: is there a need for this idea in the marketplace?
• We will look into the possibility of patenting your idea and see if your idea meets the three general patenting rules of new, useful, and not obvious.
• We can help you measure the potential size of the market and define a niche, if any.
• We can help you look into your competition, the competing products, and how they relate to your idea. We can even help you with the numbers: we have the experience you need to look into profit margins and potential earnings from your idea.
If you have asked yourself about any of the points above—the need for your product, your potential success securing a patent, the makeup of the market, competition, and potential revenues—we can help you find the answers. Spark Innovations offers a free consultation to guide you as you start your product development endeavors.
Just having a great idea is not enough. But if your idea passes every single requirement for innovation and usefulness, you will be well on your way to the next step: how to market an idea.
Contact Spark Innovations today! Sign an NDA and feel safe to discuss your idea.