In a past life, I was in charge of product development for a company which created
\nnew technologies to solve long-standing problems of merchandise protection. It became very
\nclear to me that there is no shortage of million dollar ideas. In fact,
\nwe had more great ideas within the company than we could implement with
\nthe resources available to us. <\/p>\n
The million dollar idea will make money only<\/em><\/strong> after these actions are done correctly:<\/p>\n What conclusion might you draw from this? You probably stand a far As an example, there was a woman in our old neighborhood who developed a Hang this up in your cubicle or workspace: <\/p>\n What product or service can I develop<\/span> The answer to that could give you a new life and new challenges. There is always a window of opportunity. Develop something that people need now and start generating income.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":" In tough times, the best and brightest often come up with an idea that transforms their lives. I have a suggestion for picking ideas that will pay off in the immediate future. For every million dollar idea there are hundreds … Continue reading
\n2. A working prototype can be made which demonstrates feasibilty
\n3. Tooling is developed to produce the product at a cost where it can be sold profitably
\n4. Packaging, pricing and sales strategies are developed for identified markets.
\n5. Distribution channels are created
\n6. All of the production bugs are worked out to produce acceptable yields
\n7. The product hits the market while a window of opportunity still exists
\n8. The product sells in enough volume to recoup the investments in steps 1-7<\/div>\n
\nbetter chance of making money with a $10,000 idea than a million dollar
\nidea. <\/p>\n
\nline of specialty nut brittles. She installed a commercial kitchen
\nin her home and was barely able to keep up with demand. She created
\na brand, Red Rocker Candies, which was practically flying off the
\nshelves at local stores. The crucial difference, as I see it, is that
\nshe picked an idea she could implement herself.<\/p>\n
with the resources available to me?<\/span> <\/strong><\/p>\n