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

Startup Professionals Musings

One thing I have learned the hard way in business is that implementing new ideas is usually much more difficult than conceiving the idea in the first place. That’s why I caution my aspiring entrepreneur clients against proclaiming to investors that they are a great “idea” person. For example, I have a friend with a Ph.D.

Ideas 126
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Maintain Your Startup Motivation While Working Harder

Startup Professionals Musings

That’s why all those so-called million dollar ideas I hear about as an investor don’t get me excited, and entrepreneurs find that working twenty hours a day often generates nothing more than sweat, instead of the desired sweat equity. Watch that patent provide a real barrier to competitive entry.

Startup 118
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6 Lessons Most Entrepreneurs Only Learn On The Street

Startup Professionals Musings

Intellectual property is required for a competitive edge. You may think that patents and copyrights are not required, since your products are so innovative, but you will find that competitors are quick to copy your idea if you don’t protect it. Strategic planning is a required ongoing investment. Neither is good.

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How To Pick Your Focus For Your Next Business Venture

Startup Professionals Musings

This point was illustrated well in the classic book, “ The Power of Positive Destruction: How to Turn a Business Idea Into a Revolution ,” by Seth Merrin. I like his approach to first making sure the idea has the potential for a unique selling proposition, by asking yourself a few key questions: Does the idea solve a painful problem?

Startup 96
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Balance Your Focus Between Passion And Perspiration

Startup Professionals Musings

That’s why all those so-called million dollar ideas I hear about as an investor don’t get me excited, and entrepreneurs find that working twenty hours a day often generates nothing more than sweat, instead of the desired sweat equity. Watch that patent provide a real barrier to competitive entry.

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4 Key Questions To Size The Potential Of Your Startup

Startup Professionals Musings

This point was illustrated well in the classic book, “ The Power of Positive Destruction: How to Turn a Business Idea Into a Revolution ,” by Seth Merrin. I like his approach to first making sure the idea has the potential for a unique selling proposition, by asking yourself a few key questions: Does the idea solve a painful problem?

Startup 166
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10 Quotes You Should Never Use Around A Business Plan

Startup Professionals Musings

Many new entrepreneurs are so excited by their latest idea that they can’t resist contacting every investor they know, assuming the investor will be equally excited and want to contribute immediately. They only want a quick overview of the product, not detailed features and patent secrets.