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MM

Mike Marks Founder of Invention City, WorkTools

25+ years creating/licensing/manufacturing/marketing simple consumer-oriented products. Passionate about garage start-ups, rough prototypes. Good background in patents, trademarks.

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Licensing, Rev-Share Deals, Start-Up IP Strategy

Mike Marks
Created 9 years ago in Product & Design / Lean Startup

True garage start-up (real garage) led to successful product development business based on licensing and royalty/equity deals. Some big and modest successes (hand tools, office products and misc) and a healthy number of failures (Internet platforms for radio and real estate, clothing brand, perfume brand, surf/skimboards and misc).

Mike Marks

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Mike Marks

25+ years creating/licensing/manufacturing/marketing simple consumer-oriented products. Passionate about garage start-ups, rough prototypes. Good background in patents, trademarks.

$6.67/min

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Licensing, Rev-Share Deals, Start-Up IP Strategy

True garage start-up (real garage) led to successful product development business based on licensing and royalty/equity deals. Some big and modest successes (hand tools, office products and misc) and a healthy number of failures (Internet platforms for radio and real estate, clothing brand, perfume brand, surf/skimboards and misc).

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Mike Marks answered

Do I need a prototype to sell my app idea?

To sell any idea you need three things:

1. Presentation of a market worthy problem that needs solving.

2. Explanation of how your app idea solves the identified problem better than alternatives.

3. Proof that your proposed solution will work.

An animation can be used for points 1 & 2. A working prototype and/or professional credibility is required for point 3.

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