By Karen E. Klein
… Does your invention meet an unfulfilled need or improve on an existing solution? If so, get validating market data from your target customers.Is your invention the basis for an entire business? It can be tough to build a company from scratch based on one product - even a great one, said George Tierney, chief operating officer at QuantumMethod, a Los Angeles professional services firm.
‘If you have a single product, you may not have the platform to support an enterprise. In this case, you should consider licensing your product to a partner who already has capital, infrastructure and distribution channels,’ he said.
How do you find a partner? Search out ‘other brands that own distribution in or near your market. These brands are located on the shelf right next to where you want to be,’ Tierney said.
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