Inventor Qest

Evaluating your idea

An objective evaluation of your idea is an essential first step. Preparation of a proper evaluation and action plan requires a detailed understanding of both you and your idea. Some of the questions that must be answered when evaluating the likely success of your invention are:

What is the problem your idea is solving / or benefit it is creating?
Who else will recognise the problem /benefit – and how many are there?
Will the person that benefits from the idea be the same person that buys it?
Can the intellectual property behind the idea be protected – if so, how?
Is the design – function, appeal, manufacturability - as good as it can be?
How many are you planning to sell, and what is the likely profit margin?
How much is it going to cost to get the product to market?
Which exploitation strategy is most likely to succeed?
For this project, what are your personal strengths and limitations?
Do you have any other people who may help you?

More information and evaluation guidance notes are available in our FREE
Qest Self Evaluation Pack.