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. Capture your “secret sauce.” Start with a service you know and love.

Startup 111
article thumbnail

Intellectual Property – Worthless To A Startup, Priceless To A Big Dumb Company

InfoChachkie

Patents held by startups generally have a limited ability to reduce competition. The average time required to obtain a patent is 36-to-40 months, during which there is no guarantee your adVenture will ultimately receive patent protection. Even if you are granted a patent, the scope of your claims may be significantly denuded.

IP 256
Insiders

Sign Up for our Newsletter

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

article thumbnail

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. Capture your “secret sauce.” Start with a service you know and love.

Startup 174
article thumbnail

10 Key Business Plan Elements Not In A Product Spec

Startup Professionals Musings

For example, “We just patented a new battery technology that will cut your smartphone charge time and cost in half.” Call out your top competitors, highlighting your sustainable competitive advantage, including patents, trade secrets. Document why your team is the best for this challenge. and trademarks.

Product 169
article thumbnail

7 Plan Elements That Separate Businesses From Hobbies

Startup Professionals Musings

Since this document is outward facing, it is important to keep the terminology and tone consistent with that of your customer set, investors, and business partners. For example, “I just patented a new cell-phone technology that will double battery life for half the cost. The details can be added later. Skip the acronyms and jargon.

Startup 65
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. Writing down key parameters will force you solidify the specifics, and mentally commit to them.

Ideas 94
article thumbnail

Freelancers Are The New Entrepreneurs For Services

Startup Professionals Musings

Writing specialists. Whether you are in manufacturing or software, you need experienced writers who can document your latest technology, write patents, and efficiently manage the multitude of data formats required by printing companies and advertisers.