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5 Ways To Make Innovation A Priority In Your Business

Startup Professionals Musings

I call this linear thinking , and it’s a sure way to be ultimately overrun by your competition. For example, Elon Musk, who owns many battery patents , normally kept for a competitive edge, decided to open them all to any competitors in an effort to expand the market for his electric vehicles.

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Maintain Your Startup Motivation While Working Harder

Startup Professionals Musings

Watch that patent provide a real barrier to competitive entry. Re-live that moment of inspiration that resulted in an innovative design and implementation for your product, and is now providing you with a sustainable competitive advantage. Appreciate the media accolades and peer success feedback.

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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.

Startup 111
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Balance Your Focus Between Passion And Perspiration

Startup Professionals Musings

Watch that patent provide a real barrier to competitive entry. Re-live that moment of inspiration that resulted in an innovative design and implementation for your product, and is now providing you with a sustainable competitive advantage. Appreciate the media accolades and peer success feedback.

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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.

Startup 174
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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 find the best business plans are not books, but may actually should start as a one-page “elevator pitch” that succinctly encompasses your business goals, problems and solution, opportunity, competition, and business model.

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Great Startups Can Hook an Investor in 60 Seconds

Startup Professionals Musings

Use it in every networking situation and business conference introduction. For example, “I just patented a new cell-phone technology that will double battery life for half the cost. Unlike [competition], we [differentiation].” Present a sustainable competitive advantage. I need your help in getting it to market.”

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