Below is the redacted list of ideas after we struck one of the five ideas from the prior post – B – Benefits Analysis of Your Ideas. Below is the remaining list:
1. Special car cover that protects cars from damage from hail stones
2. A cork replacement that maintains optimum pressure and humidity for wines
3. A device that allows a gasoline engine to run off ordinary tap water
4. A solar powered air conditioner unit
Culling inventive ideas should not be viewed in a negative light – killing off creative ideas, but in a positive light – survival of the fittest. Only the “fittest” ideas have a chance to become successful products.
What guidelines are useful for culling ideas and retaining the most promising? Consider asking yourself the following questions for each idea:
a) Do you have the financial wherewithal to manufacture, package and sell the product on your own?
b) Are the benefits of the idea so obvious that minimal explanation is required?
c) Could a manufacturer of similar products produce your product without expensive new tooling?
Regarding idea 1, you might or might not have the funds to pursue the product. But, the benefits are obvious and it seems likely a manufacturer could produce it cost-effectively unless exotic materials were required. So, this idea would rank well as a “keeper.”
Similarly with 2, the costs might be reasonable for you to produce the item. The benefits would not be so obvious and might require some explanation. A manufacturer could likely manage without too much trouble. This idea is another keeper at this point.
3 should be culled unless you are independently wealthy. Creating and testing prototypes would be very cost intensive. Benefits would be obvious but manufacturing would be very expensive as well. Scratch this idea.
4 is similar to 3 above. Initial prototyping and testing and then follow on manufacturing would likely be cost prohibitive. So, scratch this one also.
So, our list of possible product ideas to be developed has now shrunk to two:
1. Special car cover that protects cars from damage from hail stones
2. A cork replacement that maintains optimum pressure and humidity for wines
In the next blog post – D – Developing Your Ideas, we will consider what the next steps should be.
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