The Business of Ideas: Final Words
Inventing can be a great escape; a hobby that has potential for financial or personal rewards. So go forth and invent something new!
- 919-468-0033
- Contact Us
- Mon - Fri: 9:00am - 5:00pm
Inventing can be a great escape; a hobby that has potential for financial or personal rewards. So go forth and invent something new!
Successful ideas need to be backed up by the numbers. If the investment doesn’t offer an attractive return it’s probably not worth going forward.
It has often been said that there are no rewards without first taking risks. What people fail to consider when evaluating ideas for product development is how much risk they are capable of taking.
I use the word “extraction” to define the process by which the inventor derives income from an idea. The simplest option is to license the idea or technology to a company that is already focused on the product area.
Oftentimes an inventor will discard evolutionary ideas as having little value in the grand scheme of things. But don’t discount your evolutionary ideas as unimportant.
You must be attuned to the market, both in terms of what the market wants and ultimately how to market the invention. So let’s talk about marketing.
If you want to avoid future heartache or worse yet, investing money into something only to discover the idea already exists, then you need to search exhaustively. And then look again.
Developing your intellectual property into a viable business opportunity is a complex proposition! In this series of posts, Porticos co-founder and President, Greg Patterson shares
Developing your intellectual property into a viable business opportunity is a complex proposition! In this series of posts, Porticos co-founder and President, Greg Patterson shares
Developing your intellectual property into a viable business opportunity is a complex proposition! In this series of posts, Porticos co-founder and President, Greg Patterson shares
Tips for Hiring the Best Product Development Company You should work with a company that can assist you with all stages of product development. Porticos
What is a Product Development Process? A Product Development Process refers to the entire range of activities wherein a company conceptualizes and realizes a new
We are a product development firm that values innovation, trust, community, teamwork, and experience. We provide end-to-end engineering solutions that drive results.
Connect with us below to learn more and get your product to market!