Date: June 4, 2016
Subject: Will It Sell?
This is the very first question every inventor should be asking themselves as soon as the glow of wonderment has subsided from the realization that you have just created The most ingenious invention the world has ever known. As you float back to reality, specific questions should be flooding your brain; who are the end users, who are the buyers, how much better is this than the product they are using now, how will you get it to market, what is the probable profit you expect to make?
This last question determines how much you should spend on IP Protection (patents, copyrights, trademarks), development and marketing. For example, if this is a handy little product for a niche market that may bring in, at most $10,000.00 a month through some website or commercial site like Amazon, you may not even need a patent because the cost of litigation to defend it would be completely out of budget.
On the other hand, if you have discovered a disruptive technology that has the potential to change an industry then you will need to attract some heavy hitters onto you team because you Will need the biggest and baddest bullies in the school yard to protect your property from all the would be infringers.
Mike Letsky of Letsky Innovations www.letskyinnovations.com fully understands every facet of bringing a product to market. His company does it all, from engineering and prototyping to product testing and short run production.
The experience he got working for some spectacular companies (like NASA) gives Mike a different perspective then most engineering companies. Right from the start, he focuses on profit and he is going to show us how to determine what the profit of our product should be along with how to achieve that goal.