If You Build It...
Will they come? If you think your invention could be the foundation for a business, here's how to make the leap.
Should you start a business based on your invention? The pros of starting your own business are that you can have greater control over your product's success and greater potential for making more money. You'll also be better positioned to introduce a series of products, respond quickly to market changes and maximize your creativity in all aspects of the business.
The cons? This route is the most expensive and usually requires dealing with investors. It means you have to learn how to run a company, and it often obliges you to plow all your earnings back into your company to fuel its growth. If you're still interested in starting a company based on your invention, pay attention to the following keys to startup.
Continue reading this article - and everything on Entrepreneur!
We make some of our best content available to Entrepreneur subscribers only. Become a subscriber for just $5 to get an ad-free experience, exclusive access to premium content like this, and unlock special discounts.
Entrepreneur Editors' Picks
Crypto Doesn't Have to Be Serious. Just Ask This Comedian Who Organized a Conference About Failure in the Industry.
Want to Succeed? Turn Your Fixed Mindset Into a Growth Mindset.
Google's CEO Is Asking Employees 3 Simple Questions to Boost Productivity
'Greatest Storyteller Wins.' Katy Perry on the Surprising Link Between Pop Stardom and Entrepreneurship.
The 5 Personalities You Meet in a Coworking Space
'Man's Best Friend' — and Investment: The Thriving Industry of Pet-Related Franchising