Market Viability Testing Saves Money.

Of course you trust the potential success of your product.   It’s your idea!  

For an investor, that trust must be earned before they believe the same potential is true.  

Testing a product for market viability BEFORE you spend money producing it increases the inventor’s ability to gain support from investors.  Testing reduces the financial risks and increases the investors comfort that the product will actually provide a return on investment.   Consumer buying habits are complex with many options for spending and demands on every dollar earned.   Tiny tests in low cost ways provides quantifiable data, imparting trust to investors that your product meets a market need significant enough that people are willing to pay for it.

As an inventor looking for funding, you have two main goals to attract investors:   Reduce risk and provide an exit plan.   Tiny tests transfer trust that your product or market ready product will provide a return on investment in a reasonable time frame and demonstrates your own financial savvy.

For more about test marketing items for TV to mass market retail see Our Approach.

I look forward to connecting with you on LinkedIn, Facebook and YouTube.     Read other blogs at the W.I.L. Inventors Corner.  

Finding and developing strong relationships, built on trust and shared profits is very important to me.   I see many inventors spend too much money on patents and manufacturing of products that really were not good bets.    Inventing is like gambling.  No one can predict what consumers will choose to buy or reject.    Make sure you never bet more then you can afford to lose and place your money into the highest potential payoffs. 

Onward & Upward,

Carrie Jeske

Learn about market viability testing

   (c) 2013 Jeske.   For reprint rights please contact Carrie Jeske for written approval.

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