Would other people buy your invention?

You can spend years trying to come up with that one idea but how do you actually know that you will profit from it? I always suggest performing market research will answer the questions you don’t know.

If you get responses from the market research survey that don’t look very good and 95% of the people say they wont buy it then I strongly suggest you coming up with another idea. Remember before you performed the market research survey you selected a target audience to ask so these are the actual people who would have bought your product.

Don’t ignore the signs. Don’t think your product will succeed even after a negative survey. If you go ahead with the design and manufacture and then realize that no one is actually buying your product you have wasted all your money.

My suggestion on a negative market research survey is to do another one. Possibly change your questions slightly. If this comes back negative too then its time to go back to the drawing board.

On a more positive note, if your survey comes back very positive and you also asked the question ” how much would you purchase this for?” and the answer lies in the ball park you were thinking of then start seriously thinking about getting the product manufactured.

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