Why 88% of Ideas Fail to Make it to Market

[Daedalus294]

Mark,

the biggest problem that i have run into as a marketing representative for my client is that he wants to sell his patent outright. he wants to make the cash value from that rather than actually licensing it and distrubuting it, because he doesnt have the funds for it. The biggest challenge I have come into is companies buying a patent outright. any tips ?

[MarkProffitt]

@Daedalus294 There are 2 points to your question. First is a worry that selling the patent is giving away the total value. Most patents cover less than 1% of the idea space for product. See my report on Intellectual Property Strategy for more information. Second, is finding a way to get your product to market. There are always at least 15 approaches to solve any problem. If you think the product is ready for market try KickStarter com. And take Predictive Innovation Practitioner class.

[TheSamjulian]

The first car that runs on water fuel was first invented in the Philippines.

The inventors funding is denied by the Cental Bank of the Philippines because it is against the interest of International banks that is giving loans to the Philippines.

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[MarkProffitt]

@TheSamjulian There are at least 15 different approaches to a business model. If you have a device that produces energy cheaper than other sources then rather than manufacture the device, sell the energy. Philippines has very unreliable electricity in places. Maybe you could sell electricity. Find a business that uses a lot of energy and offer it cheaper or more reliably than other sources. Then you can use the money to build devices to sell.

[MarkProffitt]

@MarkProffitt  If you really can't get the funding needed to do anything give the design away to the world. Make it Open Source. If it really works then hundreds of people will build it. That will prove it works and it will spread. Once the device is proven you can sell your services as an engineer to improve it or more easily sell other devices.

[Saulandbass]

i have a great invention idea. and idk where to go to get it in the market. i've searched for what i've came up with and nobody has it yet. help?

[andyelgrand0]

this is interesting, its a good point of view. question: fostering ideas means channeling innovation, which is counterproductive becasue you close down the real options on route. However if you let ideas being created then it costs too much.

So how? create a community (youtube or facewbook etc.) of people interested in your product or service and hear them out for wht they want or what they have made themselves... let them grow so that you can grow

[MarkProffitt]

@andyelgrand0 As the video shows, Generating Ideas is the 2nd step. The 1st steps is Revealing Emerging Expectations, the requirements to satisfy customers desires. If you start with Emerging Expectation then all your ideas will be good because they satisfy customers desires.

My video Is Your Product Too Expensive? How to calculate price and cost. /watch?v=isZZ8NZ7vuk introduces using Outcomes to Reveal Emerging Expectations, Outcomes are one of the 6 dimensions of Predictive Innovation.

[BunkyOhare]

At first I did not like this, but it grows on you...I think the simple flowchart showing the relationships is very good. Any inventor or designer should take heed. Thanks.

[debashishbramha]

Absolutely brilliant.

I'm posting this in my blog.

With Warm Regards,

Deb Brahma.

[kurdishleader]

I have an new invention, whick company do you recommend to get my innovation on market? Thx

[MarkProffitt]

@kurdishleader Without knowing what desire your invention satisfies it is impossible to make any suggestions. You must first describe who will use the invention and why, then you can figure out who is best positioned to market to those people.

[Piptiamat]

After viewing the video I read through your PDF about the 51 steps. They make sense and producing a product or business model that meets and exceeds all of those 51 criteria would be hard, but I can see how it would make you much more likely to succeed.

Thanks a lot for sharing.

[MarkProffitt]

@Piptiamat It would be nearly impossible unless you used the Predictive Innovation Method. With the Predictive Innovation Method it's simple to achieve all 51 criteria.

[Piptiamat]

@MarkProffitt beyond Do you hold all of your classes online or do you do some in physical class settings? I'm always looking for new ways to educate myself.

Thanks again.

[MarkProffitt]

@Piptiamat Yes. Predictive Innovation classes are offered both online and onsite. Onsite classes are available for groups of more than 8 students plus travel expenses.

[MarkProffitt]

Yes, Predictive Innovation Method covers all 7 required steps. Most importantly it starts with the customer's emerging desires so you know exactly what to say and how to say it.

Additionally, Predictive Innovation Method works for any system. Marketing is just another system. You can use the method to find innovation for your marketing. In fact that is what I did to develop the Evangelism Marketing method that set record for Presidential single day fund raising twice.

[sammybellahmer]

I really enjoyed that. Say, does your system for inovations cover the marketing aspect of a product launch?

[MarkProffitt]

@sammybellahmer Yes the system covers all aspects of innovation including marketing.