This article is excerpted from Richard’s newest book, “The Complete Idiot’s Guide to Cashing in on Your Inventions.”

Succeeding in the exciting, frequently gut-wrenching enterprise of product development and commercialization takes a lot more than a good idea, a strong patent and luck. In fact, the idea is about 10 percent of the equation. If you want to beat what can sometimes seem like insurmountable odds, study the following concepts.