On Quantifying the Opportunity:
“Look at the market through as many eyes as you can. Try to get a feel for the opportunity and quantify it. Try to figure out a dropdead number. This will help you to figure out a reasonable budget for the product’s development.”

On Timelines and Budgets:
“Everything will cost more and take more time than you think. Get as much information as you can and do your best to be prepared. The budget and timeline are maps to a place that doesn’t yet exist. But it’s the best map you’ve got at the time.”

On Confidential Disclosure Agreements:
“Everyone you come in contact with at this stage of your invention must sign a CDA before you discuss the project. This is for your own protection. End of story.”

Should I get a Patents?:
“There are two schools of thought that have arisen in the last ten years or so concerning proprietary properties. First is the “old school,” which states: Patent everything and you’re covered for 20 years. But patents are expensive to obtain and may not protect you from every competitor for 20 years… The second school of thought is: Don’t patent the product; get it to market as fast as you can and sell as many as you can before competition appears. Once you have created a market, send the manufacturing to China (or another low-wage country) and compete with others on price and quality.”

On Vendors:
“Don’t be married to your ideas about how your project should be produced, but don’t let someone else push you into making a mistake at this point in the project…it’s your money…get what you want because ultimately the project will succeed or fail on your dime. Remind your vendor of this fact as needed.”

On Test Marketing the Product:
“The lesson from this chapter is to do your best to get a small amount of product in the hands of paying customers to see exactly what they think. I found out my directions were inadequate and the rubber knob could be a future problem…Imagine if I’d sold 20,000 {of the product} to Wal-Mart with bad directions and had 10,000 returned…not good.”

 On Trade Shows:
“At this point in the company’s existence, trade shows were a necessary evil. In reality, I should have attended every show on every weekend of the show season, to give the {product} maximum exposure in as many markets as possible. Trade shows are one of the most efficient ways to really learn what makes the end user buy, or in other words, what product attributes are most important to the customer.”

And much, much more…

To Purchase a Copy of Invent-onomics 101:A Guide To Getting Your Invention to Market Without Losing Your Shirt! , Click the Link Below:

http://www.amazon.com/Invent-onomics-101-Getting-Invention-Without/dp/1439213879/ref=sr_1_1?ie=UTF8&s=books&qid=1232217475&sr=1-1