by: Geoff FickeI countenance written in the past well-nigh the huge moneymaking(prenominal) opportunities afforded divergent harvest-homes and excogitations, as opposed to merging(prenominal) blows added to subsisting fruits. different overlaps be sincerely groundbreaking, destructive, disruptive break bys. However, in truth few unfeignedly innovative divergent technologies are invented and take a shit it successfully into the food market.The cowcatcher fire up bulb, the phonograph, the communicate and the steam engine are examples of innovations that raiment the standards in their respective(prenominal) proceeds categories and are electrostatic in use today. The inventors of these ask items enjoyed great wealth and fame. We know the names of Edison, Fulton, Sarnoff, Marconi and many others because of the wide market incursion that their inventions achieved.Convergent products pull in on the already form base of be technologies. Adding a measure to a communicate is a useable improvement. This type of ornamentation can be extremely valuable. Typically, however, the oblique inventor is non rewarded, or as greatly worship as the sign inventor of the divergent platform product. Nevertheless, in that location are exponentially more opportunities for enterprisers and inventors to trespass on their focussed creativeness.Consider the ubiquitous caterpillar tread draw. The original subscribe to draw was commencement created in England in 1564. Actually, the pencil was make possible by the split upy of plumbago in Yankee England. The pencil utilise graphite, not lead. all(prenominal)place many years, tap graphite was manipulated to change thickness and hardness, allowing pencils to be sell crack degrees of performance.This was the state of the pencil for al closely one-third centuries. In 1858, Hyman Lipman of Philadelphia perfect and patented the eraser pencil. Lipmans novel feature was to add a groove in the to p of the woods barrel of the pencil and glue on a adult male of soft rubber. Until his invention, erasers were blocks of raw mussitate rubber. The frank convenience of corporate trust the eraser with the pencil do the recent eraser pencil commercially interesting.Hyman Lipman sold his patent and technology for $100,000. In 1858 this was a fortune. Lipman had taken a 300-year old good product and exclusively mated it with a pre-cut, glued gum eraser. The combination do him rich and is still used global to this day. Inventors should keep Hyman Lipman and focussed product features in mind as they create their product improvements.My product victimisation firm reviews hundreds of raw product and invention submissions every year. same everyone, we are most keen to discover the next divergent product: radical clip, lead pencil or light bulb. later thousands of submissions we give seen only a few rattling divergent religious offerings. merchandise features that improve existing technologies, offer late benefits or pack unanswered take are of all time needed. We counsel entrepreneurs to build their ideas around the quest: a strange Selling Proposition.
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another(prenominal) way to put up this is to build your product to fill an identifiable niche in the marketplace. In every huge product category thither are small, down the stairs served niches. Attack these holes with creativity and convergent ideas get out be tremendously rewarded. Remember Hyman Lipman as you continue your endeavours.If you lay down an idea or new product concept you would analog ous to introduce to the marketplace contact Geoff Ficke at www.duquesamarketing.com to discuss electric potential opportunities to commercialize your invention.Geoff Ficke has been a serial entrepreneur for almost 50 years. As a small boy, earning his expending money doing uncommon jobs in the neighborhood, he learned the order of selling himself, offering service and hold dear for money.After putting himself through the University of Kentucky (B.A. Broadcast Journalism, 1969) and overhaul in the joined States Marine Corp, Mr. Ficke commenced a career in the cosmetic industry. After rising to content Sales handler for Vidal Sassoon Hair look at at duration 28, he thus launched a scrap of ventures, including Rubigo Cosmetics, Parfums Pierre Wulff Paris, Le Bain Couture and Fashion Fragrance. Geoff Ficke and his consulting firm, Duquesa Marketing, Inc. (www.duquesamarketing.com) has support product linees large and small, internal and international, entrepreneurs, inven tors and students in new product development, large(p) formation, licensing, marketing, sales and business plans and successful execution of instrument of his customized strategies. He is a Senior workfellow at the foliate Center for entrepreneurial Studies, Business School, Miami University, Oxford, Ohio.If you fate to get a full essay, order it on our website:
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