SUMMARY
Building a dream is hard work. By some standards the conception and development of an innovation is difficult, as is the process of building a prototype and putting together the new product.
In the pursuit of a suitable material for the filament that enabled the invention of the light bulb, Edison and his lab assistants tested over10000 different materials until they found the workable element that withstood the heat yet provided the incandescence. But determining the worth of the opportunity can be even more difficult since the entrepreneur is required to set aside the biases, the preconception of success that is “known” to exist in the new invention or process, and to realistically assess its potential.
Verification means to establish the veracity, the truth, of a concept in terms of market and profitability. Does the market exist? Is it of sufficient size to support a venture? What will be required to ensure sales and revenue? Above all and after all is said and done, is the new invention, the innovation, worth it?