How do you know if a product idea is good and has a chance to sell?

Lori Greiner (you can read about her here: https://lorigreiner.com/about-lori/) in her book entitled “Invent It, Sell It, Bank It!” gives a checklist to check when you are planning to launch a new product. She lists more than ten points (factors) that affect the success of a product.

L. Greiner encourages to check if the product:

  • is functional
  • solves a problem
  • is unique
  • people want or need it
  • you can demonstrate it
  • you can sell it at a reasonable price in relation to its value
  • it will convince the mass customer
  • it does not have many rivals
  • it is a consumer good
  • you can present it in a few short sentences
  • you have a patent or patents on it

L. Greiner gives a hint: if the product meets the criteria above, i.e. at least eight of the above factors, it has a chance of success.

That’s all for today. Dare to live. It’s YOUR life.

Dariusz Łukasik (daretolive72)

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