How to profit from marketable Ideas
Date: 19 Aug 2010 Comments:0Creativity is the ability of an individual to use his insight to come up with new solutions to old problems, get things done in a different way or find a totally different approach for conventional things to work.
One of the basic steps in creating a product involves probing the idea you come up with.
You need to probe the idea to know if it is good.
There are seven fundamental questions you must ask yourself in the probing process.
#1: Will it work?
It took Thomas Edison over 6,000 tries before he came up with a workable filament for the first electric bulb.
The fact that an idea did not work today does not make it a bad idea. Keep on trying it out.
#2: Is it better than products that already exist?
If the idea is not better than what already exists, it will be best you think of something better. There are very good products in the market and if your product is to succeed, then it most be better than what is presently existing.
#3:Is it user friendly?
The essence of creating a product is to help users make use of the product in the simplest manner. If a product does not fulfill this basic condition, then it may not be a good idea.
#4:Is the timing right?
Every product has a perfect timing.
A product may be good, but if it is released in the wrong time, it may not be well accepted by users.
#5:Is it worth it?
Some ideas cost more to implement than the benefits they deliver. In such circumstance, it may not be worth the cost of producing it in commercial quantity.
#6:Are you creating a market for it or does it already one?
Creating a product is pretty easy, but creating a market for the product is a Herculean task. One of the basic techniques in marketing success is to ensure that there is a ready market for a product you intend to create.
#7: Is the product affordable?
It will be a waste of time and resources, to create a product that is expensive and out of the reach of majority of users. The price of a product must be affordable to ensure that users are not excluded from the benefits it provides.
After answering the above questions and the answer is positive, the next and most important step is to actually start creating the product.
It will do you no harm if you give it all you have.
