Become a Conduit to your
Entrepreneurial Can-Do-It

September 1st, 2020

Turning your imagination into reality & establishing your prototype is really very riveting. However, there are many risks in the journey of Invention & Product development.

be-a-leader-not-the-boss

Multiple factors of the market may create odds for your pursuit of better solution; such as competitors, volatile market trends, tight funds, dominance of established businesses and many other unexpected ones.

So, it is very important for a smart inventor to validate his/ her own idea & prototype in the market to build a better & smarter solution which can provide a strong positioning to your product.

Here are some essential steps to consider when you validate your invention idea:

1. Reaching the Rational Consumers



When you plan your invention, keep a solution in mind & not the product. The end goal should be to focus on better & more accurate solution to a wide spread problem.

This leads to your first step: Understand the actual problem in a better way. Connect with “Rational Consumers”. These are small number of people experienced in the same industry of your product & dealt with the problem for years.

These experienced individuals could be your potential customers. Don’t try to pitch the idea or prototype. First, try to extract the real problem & understand how they dealt with it. Understand the other temporary problems available to them.

This may help to improve your invention idea for better. This can provide a great opportunity for a new inventors to connect with industry experts.

2. Market Validation (Alpha Testing)



Now that you’ve a matured idea with a prototype, the next important step would be to reach out to a small portion of market (with just 1-5 clients). This will help you to validate your invention idea with live application of your product. This stage is also known as “Alpha Testing”

This will help you to understand the gaps & opportunities in your product while deploying in the live scenario. After this stage, it would be a perfect time to revisit your product design & improve the missing points.

3. Meet Industry Experts & Mentors



Some skills & knowledge requires years of industry experience. Being an inventor, it’s essential to connect with industry experts to understand their opinion & advisory on the product & niche. This step can help you meet the user expectations. Skipping this step means you may end up launching a product just to be ignored by the potential consumers.

Mentoring is important for 1st time Inventors because of the knowledge and skills mentors provide. Mentors also provide professional and personal support to help you navigate the most effective steps thus increasing the chances for success.

For 1st time new Inventors, the process of maturing an invention, sustaining it, and developing a market viable product…either licensing it or venturing it can be a costly, and somewhat frustrating. Eventually it can turn out to be a futile process without expert mentoring guidance to navigate an idea from Mind to Market Build a strong strategy & a winning plan to boost your career, entrepreneurship & product invention efforts.

Connect with the Best Selling Business Author of Amazon: Dennis G. Shaver over a Complementary Strategy Call.