Are You Sitting on a Million-Dollar Idea?

If I had a dollar for every time someone told me:
“Brian, I’ve got a million-dollar idea,”
…I’d have a few million dollars by now.

And look — I get it. That spark of excitement when a new idea hits? It's powerful. Maybe it came to you in the shower, or while fixing something around the house, or when you realized there’s got to be a better way!

You just know it could be big.

But here’s the deal:
There’s a big difference between a great idea and a great product.
And an even bigger leap between a product and a real business.

So how do you know if your invention is actually worth pursuing?

✅ What Makes an Idea Market-Ready?

There’s no magic formula — but I’ll tell you this:

That’s it. Simplicity. Value. Scale.

So when I’m evaluating an idea — whether it’s my own or someone else’s — here’s what I look for every single time:

1. Problem-Solution Fit

If you can’t clearly explain what problem your product solves in 1–2 sentences, you’re in trouble.
Successful inventions don’t start with the product — they start with the pain point.

🔎 Ask yourself:
Would someone feel relief discovering this exists?
Would they tell someone else about it? Would they use it again and again?

2. Clear & Unique Benefit

Does your idea offer something better, faster, cheaper, or simpler than what’s already out there?

Your product needs a hook. A clear reason why someone would choose it over everything else.

3. Scalability

Is there a real market for this?
Can your idea support a business, not just be a cool side project?

Small niche ideas can work, too — but you need to be aware of your total market size before going all in.

🔍 My Go-To “Idea Filter” Questions

Here’s what I ask inventors early in the process — and what you should ask yourself before investing another dollar:

• 💸 Would someone pay for this?
  If so, how much — and how often?

• 🔒 Is this patentable or protectable?
  If not, can it still compete without that edge?

• 🏗️ Can it be made affordably?
  If the cost to manufacture is higher than the price people are willing to pay… that’s a red flag.

• 💬 Is it easy to explain?
  If you confuse people, you lose them — especially buyers, retailers, and potential licensees.

🧠 Traits of Successful Inventions

From coaching thousands of inventors and bringing my own products to life, here’s what winning products have in common:

• ✔️ Simple to use

• ✔️ Easy to understand

• ✔️ Solves a common, real-world problem

• ✔️ Clearly differentiated

• ✔️ Affordable to manufacture or license

🪟 Open Your Window of Opportunity

One of my inventions — Pull Ties — started as a tool to reseal bread bags. But after I used it around the house, I realized it worked for:

• ✅ Cereal bags

• ✅ Frozen vegetable bags

• ✅ Bundling extension cords

• ✅ Organizing wires behind my desk

Suddenly, my market wasn’t just bread eaters. It was everyone with a kitchen. Or a garage. Or a junk drawer.

Don’t stop at the obvious.
Ask yourself: Where else could this help people?

❌ Does It Already Exist?

Before you spend money on a patent, a prototype, or a logo — you must do this:

Run a Basic Search on:

• 🔎 Google

• 🛒 Amazon

• 📘 Google Patents

• 🏛️ USPTO.gov

• 📌 Pinterest or AliExpress

Don’t be afraid to find overlap.
Be afraid of wasting time, money, and energy because you didn’t look.

🚦 Green Lights & Red Flags

Use this cheat sheet to self-assess before going further:

✅ Green Lights

• Solves a real, everyday problem

• Easy to explain and understand

• Offers a clear benefit over alternatives

• Manufacturable or license-ready

• Gets that “Whoa, I need that!” reaction

❌ Red Flags

• Hard to explain

• Too complex or expensive to make

• Already exists (and better branded)

• Solves a “meh” problem

• Emotion-driven with no market demand

✍️ Quick Homework: Write This Down

In my coaching sessions, this is where we start:

• What’s the main problem this invention solves?

• Who would use it — and how often?

• Where would it be sold (online, retail, niche, mainstream)?

• What makes this better than anything out there?

• Could it be made for less than what someone would pay?

➡️ Bonus: Try saying it out loud to a friend — see if they “get it” right away.

🤔 Still Not Sure? That’s Smart.

If you’re unsure, don’t panic. It means you’re thinking like a real inventor.

Here’s what I suggest:

• ✅ Run the searches

• ✅ Talk to someone objective (not just friends or family)

• ✅ Or get professional feedback before moving forward

📌 Need Help?

Whether you're evaluating your idea or planning your next steps...

👉 Explore Brian’s Inventor Coaching & Services »

📌 What’s Next?

In our next issue of The Invention Playbook, I’ll show you how to prototype your invention on a budget — even if you’re not an engineer or designer.

You'll learn:

• How to make a proof-of-concept

• How to test your idea without spending a fortune

• What materials, tools, and options you can start with today

✨ Keep Moving Forward

You might already be sitting on something great.
Now it’s time to treat it that way.

Every successful product starts with a smart inventor who knew how to evaluate their idea early — and had the courage to take the next step.

That’s what The Invention Playbook is here to help you do.

Inventively yours,
Brian Fried
The Inventor Coach
www.brianfried.com