I have an idea for a new consumer product, but don’t know what to do first! Help!

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Jay’s Answer: The key to turning your idea into a success is making sure that:

1. there’s a need
2. you can easily identify those with the need
3. they are willing to pay you for the solution.

If you’ve done this homework, then everything else is straightforward: patents, prototypes, test marketing, and distribution.

These days creating prototypes is easier than ever. Start with cardboard and tape to work out the physical product’s look. When you’re ready, have someone create a prototype. These days, prototyping tools are inexpensive and quick – you can have a sample in a day or so.