Remove Demand Remove Patents Remove Pricing Remove Sales
article thumbnail

6 Success Stages Every Entrepreneur Idea Has To Pass

Startup Professionals Musings

Ask some potential customers to see if there is real interest, and start thinking about price versus cost. File at least a provisional patent and one or more trademarks. Be wary of crafty shysters who will flood your mailbox with official-looking mail offering to help for a fee, or demanding fees you forgot to pay.

Ideas 136
article thumbnail

6 Steps To Move From Inspiration To Business Reality

Startup Professionals Musings

I suggest you use social media, blogging, crowdfunding, or documented research to quantify a real demand from people who can afford it, and don’t have a better alternative already out there. Any startup with no patents, trade secrets, or other secret sauce is very high risk today. Make sure your solution is defensible and unique.

Ideas 94
Insiders

Sign Up for our Newsletter

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

article thumbnail

When Did Profit Become A Bad Word For Entrepreneurs?

Startup Professionals Musings

By profit, I simply mean offering a product or service to customers for a price that exceeds the total costs associated with the solution, thus providing some basis for recovering sunk costs and generating a return for stakeholders. The best differentiation is a patent or other intellectual property that also provides a barrier to entry.

article thumbnail

6 Steps To Convert An Idea To A Sustainable Business

Startup Professionals Musings

Ask some potential customers to see if there is real interest, and start thinking about price versus cost. File at least a provisional patent and one or more trademarks. Be wary of crafty shysters who will flood your mailbox with official-looking mail offering to help for a fee, or demanding fees you forgot to pay.

Ideas 104
article thumbnail

Why Most People Fail To Cash In On Their Dream Idea

Startup Professionals Musings

Ask some potential customers to see if there is real interest, and start thinking about price versus cost. File at least a provisional patent and one or more trademarks. Be wary of crafty shysters who will flood your mailbox with official-looking mail offering to help for a fee, or demanding fees you forgot to pay.

Ideas 107
article thumbnail

6 Steps Required From A New Venture Dream To Reality

Startup Professionals Musings

Ask some potential customers to see if there is real interest, and start thinking about price versus cost. File at least a provisional patent and one or more trademarks. Be wary of crafty shysters who will flood your mailbox with official-looking mail offering to help for a fee, or demanding fees you forgot to pay.

Ideas 56
article thumbnail

7 Reasons To Think Globally While Still New And Local

Startup Professionals Musings

with demands for new products and services. An international brand will command higher prices and additional customer demand. As you begin to saturate the demand in domestic markets, let your brand take you international at low cost. And aging populations in Europe and Japan will join the retiring baby boomers in the U.S.

Patents 106