Having a good idea for a product is only the beginning, failure to gather all the relevant facts and evaluate the marketplace puts the aspiring inventor at a disadvantage and an easy mark for
questionable business services.
A recent Steve Harvey show underscores the point: three aspiring inventors and one woman, in particular, stood out because she had paid an invention company $12,000 to create a prototype of her brainstorm. A new idea for women who wear high heels.
Unfortunately, what the hopeful inventor got back was useless, she admitted, and she felt duped.
The financial mistake could have been avoided with expert feedback from the Wisconsin Innovation Center.
Some could argue that her lack of tech and design skills hampered her ability to execute a workable prototype independently.
The aspiring entrepreneur could have saved more than 90 percent of the $12,000 lost with an honest and comprehensive evaluation from WISC.
Established more than 35 years ago, the center has seen it all, including cutting edge technology
in medicine, tools, food products.
WISC has a database of 1100 industry experts who offer honest product evaluations-
experts who have signed a confidentiality agreement, which all staff members at the center must also sign.
A thorough overview of a product’s potential in the marketplace from development to distribution
and hidden pitfalls is WISC reports’ focus.
So why instead waste life savings?
Aspiring entrepreneurs may not know about the organization.
Without an advertising budget, the nonprofit service relies on word of mouth and its reputation
with satisfied clients found around the globe.
The MobCraft Beer co-founder who appeared on Shark Tank on March 11 is a former WISC student.
When applicants apply for WISC fee-based services, Illegal products, risque’ adult products, or other dubious ideas are not eligible for consideration.
Steve Harvey.com/Passion Projects
Takeaway includes myths
about marketing to mass markets channels
Wisconsin Innovation Service Center
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Mobcraft Jumps into the SharkTank
Invention Promotion Firms