Hennefer Electronics Inc.

Electronic Design - Prototypes - Software - Websites

Evaluating Your Idea

A good inventor is like a good photographer.
A good photographer takes many pictures and only keeps the best ones to sell.
A good inventor must develop the discipline to evaluate his or her ideas before spending money to develop them.

The first step is to search the web for "your product" as if it had already been invented. Search on words that describe your future product and on words that could be possible names for your future product.

If there is already a product on the market that solves the problem your invention intends to solve this could be a yellow or possibly a red flag. Your product must solve the problem better or be less expensive in order to compete.

If you do not find a product on the market like the one you are thinking of making you must honestly ask yourself the question WHY and then start seriously looking for the answer. Here are some possible reasons why a product may not be on the market that need to be considered:

Not technically feasible at any price.
Not profitable i.e. too expensive to manufacture for what people are willing to pay.
Too difficult to market.
The market is too small, not enough people need this product to justify the development cost.
The very LAST possibility to consider is that NO ONE HAS THOUGHT OF THIS BEFORE. If you put this one first, which is what many inventors tend to do, you may well find out that one of the above is true AFTER you have invested a lot of money and emotion on your idea. Do all the evaluating you can BEFORE you spend money. It is easy to find people that will tell you that you have a great idea. When you find someone that sees a possible PROBLEM with your idea, LISTEN, and then keep researching to find out if the concern is valid.

Please call Kirk at 801 710-7992 for a no-cost CONFIDENTIAL consultation about your idea. I can help you evaluate the feasibility of your idea. There is no obligation to pay anything until we agree that I am to begin work on your project.

Conversations about your idea are considered CONFIDENTIAL. However, if you would like a more formal agreement you may use this Non-Disclosure Agreement. To use this NDA simply fill in the form, click the Continue button, print, sign and fax it to me. I will sign and fax it back. Even without the agreement your information will be kept in confidence.

Don Debelak has an excellent book on bringing products to market. There is a chapter in his book that explains why you should share and also inexpensive ways to protect your idea. I recommend it to anyone intending to develop a new product.

Hennefer Electronics Inc.

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Evaluating Your Idea