Remove Competition Remove Funding Remove Patents Remove Writing
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7 Ways Your People Skills Are The Key To Your Success

Startup Professionals Musings

The critical success factors for a product business are well known, starting with selling every unit with a gross margin of 50 percent or more, building a patent and other intellectual property, and continuous product improvement. You have no shelf life, so you can’t make money while you sleep. Capture your “secret sauce.”

Startup 111
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7 Success Factors When Your People Are The Solution

Startup Professionals Musings

The critical success factors for a product business are well known, starting with selling every unit with a gross margin of 50 percent or more, building a patent and other intellectual property, and continuous product improvement. You have no shelf life, so you can’t make money while you sleep. Capture your “secret sauce.”

Startup 174
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6 Drivers For Aspiring Entrepreneurs To Finish School

Startup Professionals Musings

Universities have the links you need to patent attorneys, prototyping companies, investment groups, as well as a wealth of peer talent to round out your team and share the work. Write a business plan and pitch deck for learning. Initiate networking to find peer partners and investors. Learning by doing is the only way to go.

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7 Indications Of Your Ability To Get Business Results

Startup Professionals Musings

Some entrepreneurs love to talk and produce videos, but hate to write anything down. Registered patents and other intellectual property. From an investor perspective, understanding and acting early to establish a sustainable competitive advantage, and barrier to entry, is the best assurance of a financial return.

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5 Steps To Get You From Your First Idea To A Business

Startup Professionals Musings

Then, he'll need to patent it and create a plan to show opportunity, competition, and financial projections. I have found that the process of writing down your idea, with a plan for implementation, and reviewing that plan with a business advisor, will force you to learn and acknowledge the real requirements for implementation.

Ideas 126
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10 Entrepreneur Milestones That Make Funding Easy

Startup Professionals Musings

Every investor expects to see some business traction, both before and after a funding event. If you have neither, and choose to approach an investor, you will get no attention, and probably never again get a shot at funding with that investor. Now investors will pay attention, since scale-up funding is less risky and has a time frame.

Funding 112
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7 Plan Elements That Separate Businesses From Hobbies

Startup Professionals Musings

For example, “I just patented a new cell-phone technology that will double battery life for half the cost. Opportunity segmentation and competitive environment. List key competitors and alternatives, highlighting your sustainable competitive advantages, such as patents and trademarks.

Startup 65