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Inventors have two ways to get their products to market

August 6th, 2010 · 19 Comments

Everything around us that wasn’t created by God was created by Man (or woman for that matter).   Inventors are the life blood of progress and economic growth.   Innovation comes to market in two ways:

  1. An existing company creates it or licenses it in order to sell more to an existing customer base or grow their market share by offering an expansion of their product line.
  2. A new company is formed to bring that product to market and through their success, jobs are created and new wealth is generated.   Consumers are given an opportunity to buy a solution for an existing problem or enhance their quality of life with this better or more fun way of doing things.

All inventions start with the Germ of an idea…a seed is planted because someone in their course of their day though “I wonder if there is a product that did X” or “I wish I had something to do Y” or “I bet people would buy Z”.   To go from idea to an actual product in the marketplace, an entrepreneurs needs to start with assessing the market for the product.   Then they conduct a personal assessment of their ability build a company to take that product to market.  If the market is validation and their is a real need for this product in the market, then they will determine based on their personal assessment to either license the product to a larger more established company for a portion of the revenues or they will build a team and do all that is necessary to raise capital for manufacturing, distribution and sales/support.

A recent podcast from the Compassionate Capitalist Radio show covered this topic in detail, offering strategies and resources to help inventors take conduct feasibility studies, validation of the marketplace, protection of their intellectual property and the raising of seed capital and first round financing.  Entrepreneurs called in with their questions and the Expert on Hand, Karen Rands answered their questions in her usual frank and matter fact manner.

Companies and Links referenced in the podcast for inventors to bootstrap and get to market:

Email Optin Capture:  Constant Contact  http://constantcontact.com
Easy Survey System:   Survey Monkey http://surveymonkey.com
Patent Agent:  Ron Reardon  http://patentsandmore.com
Commercialization Expert:  Jim Debetta   http://jimdebetta.com
Capitalization Expert:  Karen Rands http://LaunchFundingNetwork.com

Follow Karen Rands on twitter:  http://twitter.com/karen_rands

Read Articles published by Karen Rands at:  http://bit.ly/KYREzines
Listen to other Podcasts by Karen Rands on iTunes:  http://bit.ly/KYRItunes

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Tags: Entrepreneur Biz-Buzz · Podcasts

19 responses so far ↓

  • 1 Hank // Aug 25, 2010 at 5:48 am

    Very nice posting! Thanks for sharing.

  • 2 Jack lake // Sep 2, 2010 at 11:27 am

    I think I’ll focus on licensing now.

  • 3 John Kurgh // Sep 2, 2010 at 12:10 pm

    Hello!I have been wondering how to get my inventions to market and what was the best way to get it done…. your podcast was right on. how do you know all this stuff?

  • 4 Kirk Right // Sep 2, 2010 at 6:33 pm

    Hello! I have so many ideas of products I think the world needs. This has helped me to understand what I really need to do to bring the best to market. THANKS!

  • 5 John NovKru // Sep 3, 2010 at 6:49 pm

    Aloha! Karen, You always seem to break it down into the bottom line on building a company and getting products to market…. thanks for sharing your expertise so freely

  • 6 John1764 // Sep 10, 2010 at 6:37 am

    Hello! Thanks for sharing…. I think Licensing is the way to go.

  • 7 Wil Bysoj // Sep 23, 2010 at 7:21 pm

    You cut to the chase on what an inventor must think about before spending a bunch of money on an invention that could never get anywhere. Definately have to get the ego out of the way.

  • 8 John D. // Oct 16, 2010 at 4:40 am

    Very nice site! great insight.

  • 9 Pharme379 // Oct 16, 2010 at 4:40 am

    Very nice site!

  • 10 Pharmd110 // Oct 19, 2010 at 6:18 am

    Very nice site!

  • 11 Ada Sawzawski // Oct 30, 2010 at 6:59 pm

    To be a good inventor with philanthropic of openness to the in the all the levels of accomplishement…that is key— an ability to group undeterminable things beyond your own capabilities and seek those that can help you along the way. That says something remarkably impressive thither the get of the ethical life: that it is based on a trustworthiness in the uncertain and on a willingness to be exposed; it’s based on being more like a shop than like a sparkler, something kind of fragile, but whose mere precise attraction is inseparable from that fragility.

  • 12 Lenny Tayfon // Oct 30, 2010 at 9:47 pm

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    Lenny Tayfon

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  • 15 Johnson // Dec 4, 2010 at 12:59 pm

    nice post. thanks.

  • 16 Melanie Coral-Johns // Dec 7, 2010 at 1:20 am

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  • 17 Stark Herkey // Dec 16, 2010 at 11:35 am

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  • 18 Carson Ullwith // Dec 16, 2010 at 1:47 pm

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  • 19 Sara // Dec 19, 2010 at 8:00 am

    Thanks for an idea, you sparked a thought from a angle I hadn’t given thought to yet. Now lets see if I can do something with it.

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