If your idea flops, what do you do?

Samsung to Unveil Premium New Products at IFA 2013
New products face tough competition. (Photo credit: samsungtomorrow)

A young man decided that he would be an entrepreneur, came up with an idea for a retail product but never listened to an expert in the retail business who warned him that his initial concept was impractical, too costly to produce and would make no profit.

Being a clever would-be entrepreneur who knew best he went ahead spending thousands to develop his concept with a product design company, consulted an expensive patent lawyer, filed a patent with the intellectual property office, and talked with costly plastics manufacturers to make his product.

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