Friday, January 06, 2006

Breaking Even

I often come across inventors so excited by their ideas that they toss and turn at night. While ideas are fabulous, innovators need to expend more energy on analyzing the viability of their ideas. Asking about specific customers who would buy the product is a great start.

However, inventors must also be realistic about the amount of time, money, and expertise that it takes to bring a new idea to the market. The market can be a fickle beast. And selling directly to consumers can also be quite arduous. One simple calculation is the break-even calculation. Check out a series of useful calculations (and even a plug-and-play calculator) from Case Western University.

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