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A: I am a bad poker player, for the reason that I can not help grinning like the village idiot when blessed with a winning hand or frowning like a sad clown when given a dud. I also never mak... Q: I have a good idea for a fantastic new product. There is nothing like it available on the market and no opposition that I can find. I think itll be described as a big success and so does everyone I tell the concept to. Im ready to bet the farm on this one. What you think my likelihood of success are? A: I am a poor poker player, mainly because I can not help grinning like the village idiot when blessed with a winning hand or frowning like a sad clown when given a dud. I also never make possibilities on the achievement of amazing new services because more often than maybe not the only thing that is amazing is the way the solution is completely overlooked by the buying public. In my own software business there were times when we came up with what we thought was an amazing concept for an amazing piece of software - a piece of software therefore amazing, in reality, that we knew that all mankind would sit up and simply take notice, then line up to create us checks. After numerous hours and a large number of dollars spent building the product we were surprised to discover the only people who thought the application was certainly amazing was us. Identify more on the affiliated essay - Click here: team. We made mankind yawn. Quite an amazing success, basically do say therefore myself. It concerns me that you say there is nothing like your idea in the marketplace. While you may possibly think that is a good thing, it might really mean that there is no market for your product. The same holds true for too little competition. A total lack of opposition may possibly mean that there is no interest in such a solution. Seldom does something come along that revolutionizes a market. Rarer still does something create a new industry by itself. So, how can you tell if your wonderful new product really is worth gambling on? The truth is, you are able to never be one hundred thousand certain that your idea will offer. No matter how enamored youre of it or how much your friends talk about it, the success of a new idea depends on a number of elements, many of which are beyond your control. Such facets include: The viability of the idea: is this really a solution that you may create a company around? Does the idea have the potential to build revenue or customer loyalty? Individuals employing the idea: the best group can make even a huge success to an average solution have you ever heard of Windows. Inversely, a poor group could not offer ice water in Hades. Choose your team carefully. The right people do make all of the difference. The demand for such a product in the marketplace: will this product fill a need or satisfy an itch? The competition: could be the industry already crowded with competitors? If so, whatll it take to go your product prior to the pack? The depth of the pockets: even an amazing solution needs a load of cash to go from drawing board to store display. The availability of other resources required to take the merchandise from the drafting board to the consumer: are you experiencing enough time, the drive, the determination, the knowledge, the contacts, the support, and 100 other things required to bring your wonderful idea to fruition? The record would not be complete without sheer luck and timing. And one thousand other items. Before you spend too much time and cash in your idea, do a little research to determine if its an idea that is really worth gambling on: Re-search industry for similar products. Again, if there are no similar products and services on the market that may mean there is no market for that product. If there undoubtedly is nothing just like your product, study similar products and services that fill a similar void in the consumers life. Learn all you can about such products: pricing, industry share, history, an such like. Research your competition. There may not be a market for an item like yours as stated earlier, if theres no opposition. If theres competition, study the competition completely large guys and little guys to help determine if you are able to really compete for market share. Determine your target customer and ask them for an honest examination of the theory and its marketability. Learn more on the affiliated web site by clicking home page. Prevent friends and family while they usually just tell you what you need to hear. If your target customer is really a 35 year old female, pitch your strategy to every 35 year old female you gauge and meet their reaction. Only do not break any following laws in the name of general market trends :o. The best advice I can give you when it concerns wonderful new product ideas it is best to check out your mind and not your heart. It is a lesson that took me years to master. If Id a nickel for every amazing new product Ive invested in Id go play a couple of hands of poker. Here is for your success!.