This Element is an excerpt from From Concept to Consumer: How to Turn Ideas Into Money (9780137137473) by Phil Baker. Available in print and digital formats.
What to do after you get your product to market: preparing for competition, extending your advantage, and preparing your “next act.”
After coming up with a product idea, raising money, building a team, engineering the product, shepherding it through manufacturing, and finding and negotiating with partners, can you find time to relax? Perhaps for a long weekend. Having a successful product attracts a lot of attention—not just from customers, but also from competitors around the world….