Remove Customer Remove Design Remove Entrepreneur Remove Patents
article thumbnail

Take this test to predict your success:

Berkonomics

Test yourself as to whether you can identify the size of your market niche, and whether you can overcome the many barriers to access customers within your niche. A core patent or “thicket” of patents protecting your offering? A strategic relationship with one or more of the largest customers? Are margins high enough?

Patents 156
article thumbnail

6 Keys To Aiming Your Product To Mainstream Customers

Startup Professionals Musings

Every technical entrepreneur is an early adopter of technology, so naturally they build things with people like themselves in mind. Unfortunately, for most solution markets, early adopters represent only 10 to 15 percent of the total opportunity, so it’s easy to get mislead on the real requirements of mainstream customers.

Customer 117
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How To Make The Most Of Your DNA As An Entrepreneur

Startup Professionals Musings

Anyone who works with entrepreneurs will tell you that all are different. Others are really marketers out to make money fast, and believe that they can entice customers to any offering. The Opportunist is the speculative part of the entrepreneur in all of us. Of course, discovering your entrepreneur type is only the beginning.

article thumbnail

This Immigrant Entrepreneur Launched Her Billion Dollar Empire, Despite Speaking No English

InfoChachkie

Opportunity knocked when one of her customers was spotted at a high-end boutique, wearing one of Ida’s outfits. The store’s owner, Enid Bissett, asked the customer where she had purchased the dress. The two women established a custom dress shop called Enid Frocks. In contrast, Ida’s designs accentuated women’s feminity.

article thumbnail

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. If you don’t have a high level of commitment and passion, you customers won’t seek you out.

Startup 111
article thumbnail

Maintain Your Startup Motivation While Working Harder

Startup Professionals Musings

Many experts are certain that successful entrepreneurs are the ones with the most inspiration (passion and dream), while others will assert that it’s about more perspiration (working harder). Here are five key ones to celebrate: Enjoy the feedback from every satisfied customer. In my experience, both are always required in heavy doses.

Startup 118
article thumbnail

5 Ways To Get Beyond Early Adopters For Your Startup

Startup Professionals Musings

Every entrepreneur and startup loves you, but too many forget that every potential customer is not like you. If you are a technical entrepreneur, you can count on early adopters to be first in line for your product, and they are quick to provide feedback on quality, and suggest even more features.

Startup 141