The Inventor's Puzzle
Deciphering the Business of Product Innovation
By: Mark Lake, PhD
Published: November 10, 2009
Format: Hardcover, 200 pages
ISBN-10: 057803347X
ISBN-13: 978-0578033471
Publisher: Eaglerock Consulting Inc.
"Every year in this country billions of dollars are invested in creating new inventions and launching new businesses that will turn those inventions into market-ready products", writes high technology and innovation entrepreneurship expert Mark Lake, in his insightful and very practical book The Inventor's Puzzle: Deciphering the Business of Product Innovation. The author provides valuable, real world proven ideas for turning inventions and innovations into successful products, that will overcome the business knowledge gap often experienced by inventors.
Mark Lake recognizes that many inventors, of often very revolutionary products, fail to succeed in the marketplace due to poor business planning and execution. Having a good idea is simply not sufficient to achieve commercial success, despite the well known story about the proverbial better mousetrap. Mark Lake asserts that five essential issues arise during the transition from concept to market. Those five issues are:
* Know the customer and beat the competition
* Protect your ideas
* Be methodical in engineering your ideas into practical products
* You need money to make money
* No business succeeds without a good team
Mark Lake (photo left) guide's the inventor through the five critical issues, as they form the pieces of the entire business puzzle. To illustrate the five puzzle pieces in action, the author utilizes an unusual, but effective example from 600 years ago. He describes the steps taken by Filippo Brunelleschi, in the design and construction of the magnificent dome over the cathedral of Santa Marie del Fiore, in Florence, Italy. This unexpected, but fascinating story of a highly innovative construction project, demonstrates the timeless quality of Mark Lake's advice for inventors. The five issues are deconstructed in a roughly chronological order, as they would probably arise in the real world. The story of Filippo Brunelleschi and his spectacular construction project points to each of these puzzle pieces in action.
For me, the power of the book is how Mark Lake understands the challenges faced by inventors as they attempt to commercialize their ideas. The author realizes that simply having a innovative concept is not enough, and that knowing how to navigate the business world successfully is critical for the innovator. Mark Lake knows from experience that the shortfall, in an inventor's knowledge, is very likely on the business side of the puzzle. The author guides the inventor through the five essential issues that arise, preventing them from becoming obstacles that can derail the commercialization process. The deconstruction of each of these five vital puzzle pieces, provides both insights and hands on information, that keep the innovative individual on track to exploiting the marketplace. Overall, the book is a treasure trove of advice and wisdom that will benefit anyone involved in the process from idea inception to product development to a profitable business venture.
I highly recommend the must read guide for inventors and innovators, The Inventor's Puzzle: Deciphering the Business of Product Innovation by Mark Lake, to anyone seeking a road map to follow from idea conception to development of a profitable product business. The book fills that void between product invention and the marketplace, through the five puzzle pieces that complete the overall innovation process.
Read the hands on and highly readable book The Inventor's Puzzle: Deciphering the Business of Product Innovation by Mark Lake, and discover how to turn an innovative idea into a successful product venture. The book helps the novice or experienced inventor navigate the entire process from idea incubation to marketplace profitability.
