in an invention
Inventions have great revenue potential if they have certain characteristics.
Before you invest in an invention look for:
1. Whether it fulfills a strong enough need that consumers would be motivated to buy it
2. Whether it address needs at an attractive price point
3. A large consumer base that would be interested in buying the product or service
4. A working prototype
5. Some kind of patent protection
6. Complexity of manufacturing
7. Potential product liability
8. Government approval process if applicable
9. Ease of bringing it to market and potential roadblocks
10. Existing distribution channels for these types of products/solutions
Remember that an invention is useless unless people are willing to buy it and you’re capable of manufacturing and delivering it. Technology is making many things possible, but not all of them can be sold as products for a profit. Invest in inventions that will make you money.