We’re always stressing the importance of market research and due diligence before spending too much time and money on your product. A great way to get a sense of what already exists, and what potential customers and manufacturers might think is to attend an industry trade show.

No matter where you live, you’re probably near a city that has a convention center. The taxpayers need to earn back all that money they spent building the convention center, so they try to schedule as many events as possible at these places. Most likely that convention center near you will have at least a few trades shows or expos in your product’s industry. Many times it’s free to go to trade shows if you pre-register, and less than $20 if you buy at the door.

When you get to these shows, get a lay of the land. Scope out similar products and potential competitors. Ask questions about pricing, marketing, and retailing. Be sure to take notes and write all this information down as it will be crucial in putting together a marketing plan.

If you feel comfortable, you can even ask some of the exhibitors what they think of your product, if they have any recommendations or insight.

Spending a little time at trade shows and events, meeting industry professionals and companies, can really give you much better insight into whether you have a viable product or not. Remember the goal is not to be working on AN invention, but working on the RIGHT invention.