Posts from Mompact
Read my previous posts at Mompact.com.
If you have been in the product business for more than a year, you’ve likely discovered that very few products invented by entrepreneurs are profitable. TV shows like Shark Tank and authors promoting “get-rich-on-your-idea” books make it sound glamorous and easy; but, taking a product to market is a long, uphill battle that most people aren’t prepared to fight. After carefully monitoring over 200 products invented by moms the past four years, I’ve seen only a few turn real profits. Sometimes it is the product itself that makes it a winner, but there are other factors that can increase the odds of success.