"The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man." George Bernard Shaw

Conclusion and some Final Thoughts:

As one can see, it takes a lot of patience, preparation and perseverance on behalf of inventor to succeed. The main thing is to not get discouraged by the presence of competition and potential rejections. As I mentioned in my article, competition is good and healthy. If your competitor is enjoying a great success with the product similar to what you've developed, then this means that the product that you are working on has great potential. Carefully examine competitor's product and determine its weaknesses or vulnerabilities. This, of course, presumes that you finalized your initial design, worked out all the kinks and produced a full-scale (or scaled-down) version of your product. Once you know enough about competitor's product, carefully study your market and demographics - this will help you in designing marketing strategy specifically tailored towards your product. Put on paper and document all your findings because you may forget some details later on and realize that the data you painfully need is gone. In general, try to incorporate all your findings related to cost, market and demographic analysis into Business Plan and store it in a safe place! Most companies you will try to work or partner with will require you to produce Business Plan documentation. Not having one will force you to produce Business Plan documentation almost overnight and this is not an easy task. My suggestion to you - start working on the Business Plan from the very beginning and save yourself from having sleepless nights! And a final word of wisdom - don't be afraid to be over-confident, because confidence and belief in one's own powers are a great recipe to success!