Licensing Library
Studying the Market
8 articles in this category.
Studying the Market
An Unexpected Resource For Improving Your Inventions
When you have an idea for a new product, first you must situate it. How does it compare to other products that are similar? What big benefit does it offer, and to whom? How large is that market? Where are...
Studying the Market
What to Do When You Discover Your Product Idea Already Exists
Say you come up with an idea for a new product. At first, you're elated. This is a product people need, you think. It's genius! Why can't I find it anywhere? But when you begin studying the market, the air...
Studying the Market
How to Identify Companies That Will Want to License Your Product Idea
A common mistake inventors make is not casting a wide enough net when it comes to identifying companies that will want to license their product idea. Like I always say, licensing is a numbers game. You only need one company...
Studying the Market
The First Two Questions Potential Licensees Will Ask
When a potential licensee is interested in your idea, the first two questions it is going to ask you are, "How do we make it?" and "How much is it going to cost?" So many products never see the light...
Studying the Market
4 Tests to Fail-Proof Your Business Idea
You've put in the time, and you're ready to launch your new business idea. It's an exciting time. But how ready are you? I don't need to tell you how much risk is involved in venturing. Financially, it is very...
Studying the Market
Why KFC's New Go Cup Is a Brilliant Business Idea -- Even If You Don't Like Fried Chicken
When students of my entrepreneurship course ask me, “How can I come up with more good ideas?” I always tell them, study the marketplace. I believe that great innovations evolve from studying the products that already exist in the market,...
Studying the Market
How to Become an Expert in an Hour
I use the same strategy over and over again to develop new product ideas for different industries -- including industries that are largely unfamiliar to me. Yes, it is important to develop expertise, but I think most entrepreneurs fail to...
Studying the Market
Reading Amazon Product Reviews is a Great Way of Studying the Market
There are many ways of coming up with new ideas. Everyone has his or her own little method. When I quit the toy startup I had been working at to start my own design firm early on in my career,...
