The best approach to finding buyers for your idea.
Not everyone has the courage to take their idea to market all by themselves. The reason could be lack of capital, timing, deficiency in a needed skill, or simply not having the kind of personality to take on such a challenge. Whatever the reason, there is still a way to realize the fruits of your great idea: Sell it to someone who can make it a reality.
There are pros and cons to selling your idea. On the pro side, selling your idea means someone else will be using his or her resources to make your idea a success. An experienced licensee can see the strengths and weaknesses of your idea that you may not be aware of, such as a market or distribution issue you may not have considered. You might also see faster monetary rewards--the right purchaser can get your idea to market more quickly than you can.
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Get 3 months free with code zendesk
Presented by Zendesk
Entrepreneur Editors' Picks
Zooey Deschanel Embraces the Word 'Quirky' and Thinks Businesses Should Too
A Simple (But Not Easy) Guide to Achieving Almost Any Dream
Making Time to Be 'Useless' Is a Vital Part of Creating Anything Valuable
A Billionaire Who Operates More Than 2,400 Franchises Knows These Types of Franchisees Make the Most Money
How Relentless Optimism Fuels Success for Hilary Schneider, CEO of Shutterfly
The Paradox of Celebrity Tequila
Social Media Was Draining Me, So I Gave It Up. My Business Has Never Been Stronger.