Is there what you are capable of doing besides give up and end up forgetting everything? The good thing is that you have a lot that you can do however the very first thing you must do is get a little education. This will help you save a fortune in the end.
If you feel your "product" has merit, you could look at InventHelp product licensing. That's where you would allow another individual to manufacture and promote your product for you. Why would someone do that? Well if they are in a similar market already, they sure enough have existing customers that would purchase your creation. What's to avoid them simply stealing your idea and producing an item themselves? There are a variety of legal safeguards set up to avoid this happening although I have to claim that they feature no protection at all unless your agreement is set up properly. You need to be careful when stepping into negotiations with this type. You need to understand the game plan and abide by the guidelines. You might also need to ensure that sleep issues will the same.
Will there be numerous people considering licensing your idea? Well that will depend really on the invention you've got develop. In spite of, or maybe because of, how much innovation and creativity in many markets, there are a small group of new ideas. Appears like a great want to you might meet a lukewarm response once you approach other investors. But that does not imply that there isn't an market and that you posess zero potential goldmine on your hands.
You might find that your product idea was already tried plus it failed. But that doesn't always have to mean the end of things. The last launch may have happened once the market wasn't quite ready or was approached in the wrong way or through the incorrect medium i.e. needs to have been marketed online but was promoted on a TV shopping channel. A problem you may have is that "your" product idea may be the main topic of a patent. This can be examined but you will have a charge requested checking. So prior to deciding to spend your money, you need to know just a little about patents and the way far the thought has been protected. Not all patents happen to be made the same plus some of which have been registered incorrectly or only apply in one country. Patents don't always cover every nuance so there are types of issues involved that you simply should keep yourself well-informed about in case you are seriously planning to pursue this concept.
There may be other reasons why your product is not ideal for licensing. It may not be possible to manufacture it at a low enough cost to generate a profit when it is sold to retail at a price industry will bear. Finding approaches to reduce expenses in order that there's an attractive profit when marketing the merchandise is truly the challenge facing cool product producers.
The good news is that you have already done most of the work. You've got think of a great product idea. You now just need the knowledge plus some the aid of someone familiar with the licensing field to successfully provide the dollar prospect of your plan.