I believe the number one reason that inventors fail to commercialize an idea/product is that they start with an idea/product that is too complicated.
by Andrew R. Spriegel
I believe the number one reason that inventors fail to commercialize an idea/product is that they start with an idea/product that is too complicated. Because they take on a product that is too complicated, they experience at least one of the following barriers to success: they run out of money, they have difficulty developing the product, the product is more difficult to market because it requires more extensive consumer education, they can’t produce the product on their own, the complications negatively impact their “speed to market” capability, etc…
My strongest recommendation to inventors is to start with a simple invention and gradually increase your idea/product complexity as you begin to establish a successful track record. Crawl before you stand up, stand up before you walk, and walk before you run. Lastly and most importantly when you get knocked on your butt, and believe me everyone gets knocked down, get up, dust yourself off and keep moving forward!
Consult with others that have successfully commercialized intellectual property. Use due diligence in evaluating the consultants that offer to help you.