I have found that a more successful approach to new product development is not to base your product thinking on ideas, because idea-based products almost always fail because due to insufficient demand.

Instead, look for unsolved pains in your area of knowledge. Then pick the need that is most likely to meet your financial goals. Next we develop a solution using virtual design teams. Protect the intellectual property and sell it.

People with significant industry or life experience have the wisdom and intuition to judge which unmet market pains are the most profitable to solve.