Thursday, August 7, 2008

To give up ideas

Now it's a good time to talk about what to give up. One can come up a good idea, very twisty and does something magically to satisfy his needs.
That’s great. If no one shares his opinion, he can always keep it to himself and use it for himself only. But is that really your goal? If your goal is to license your idea or to commercialize your product, which means to sell many, you really need to think about whether others will share your opinion. Do they have same need? Probably they do. How many of them? How much are they willing to pay to satisfy that need? (Here we are not merely talking about money; Some time inconvenient to keep/to carry some extra dead weight also counts) Can a manufacture fulfills such a need under cost… The last point really some experience to make the judgment call.
But most inventors seem have problem to accurate estimate the most fundamental question of people’s need and willingness to pay. They seem often over estimate the need and willingness of consumers in favorite of their ideas. Can you blame them, we often made same mistake as they do. That’s why we need help from others to do that estimation for us.

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