This is a question everyone starts with. I think one question you'll need to answer is what path do you want to take with the product idea? Do you want to make it and sell it? Do you want to license it? What's your goal with it. From there, then you can map out your plan. There is always risk involved, but there are definitely warning signs. Stay away from anyone or company who makes wild promises or the "sure thing". If it's too good to be true then it usually is. There are companies out there like Edision Nation, Quirky and others who help people in your scenario.