When Someone Else Takes Your Idea First
October 29, 2006
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Product development is super expensive and let’s face it, it is a huge risk.
In the last week I’ve seen 3 products on the market that I have considered developing myself and at first I was frustrated, but then I was completely relieved! They took the risk, now I can sell their product and see how it sells with my customers. If I like how it goes, eventually I can tweak it, brand it, make it better–if I want to make it “mine”. And if it doesn’t do well…then what a relief that I only had to place a small order and don’t have a warehouse full of them!
Today’s Magic Wand: Sometimes it’s a gift if you’re not the first to the market. Be peaceful about ownership of ideas and product development. It’s a competitive world and if you can buy someone else’s product before making your own, do it.
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