Testing the Market
Conclusion

The market is an open frontier, full of hopes and expectations for new business, products and services. It can be a dangerous place for someone who has never experienced the excitement and possible pit-falls of commerce. Thousands of inventors test their products on the market every year, only to find the journey too treacherous. To truly become Product-Smart, the inventor must test the market. Testing the market to understand customers, pricing, barriers to entry, and competitors gives the inventor a better shot at making their trip market a success.

Paper outline

• Protecting inventions
  • Patent search
  • Provisional patent
  • Formal patent
  • Patent lawyers
• Manufacturing the product
  • Manufacturing choices
  • Manufacturing prototypes
  • Shipping & importing
• Getting resources and financing
  • Needed funding & business plan
  • Where to get funding
  • Tips
  • Conclusion
• Testing the market
  • Potential customers
  • How much will they pay?
  • Survey potential customers
  • Barriers to entry
  • Know the competition
  • Conclusion
• Preparing products for market
  • Legal & financial protection
  • Packaging
  • Manuals & Documentation
  • Warranties
  • Full package creation
  • The Web site
  • Money, invoicing & taxes
  • Shipping & distribution
  • Conclusion
• Closing thoughts
• Download the entire paper

Check out the Silent Timer Web site to see the product Erik took to market. Contact him with any questions.