I’m often approached by people who claim to have invented the next big thing, and ask me how much it’s worth, or complain that they can’t find an investor who will fund it. The honest answer is that ideas and new technologies are worth nothing, outside the context of a specific business plan that meets a market need for a fair price.
Invention is the process of creating a new technology. Business innovation is taking that technology and successfully bringing it to market in a way people want. There is a variation on an old quote that sums it up for me: "Invention is turning money into technology. Business innovation is turning technology into money."
To read the full, original article click on this link: Take This Test To See If You Actually Have A Million-Dollar Idea
Author: Martin Zwilling
