Remove Competition Remove Entrepreneur Remove Patents Remove Services
article thumbnail

6 Mistakes Often Made Positioning Against Competition

Startup Professionals Musings

Don’t bash the competition. Every investor knows how vulnerable a new startup is to competitors, so investors always ask about your sustainable competitive advantage in the marketplace. That says you are competitive today, have a real barrier to entry, and the potential to remain ahead of the competition for a long time.

article thumbnail

How To Highlight A Sustainable Competitive Advantage

Startup Professionals Musings

Don’t bash the competition. Every investor knows how vulnerable a new startup is to competitors, so investors always ask about your sustainable competitive advantage in the marketplace. That says you are competitive today, have a real barrier to entry, and the potential to remain ahead of the competition for a long time.

Insiders

Sign Up for our Newsletter

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

article thumbnail

8 Attributes Of Entrepreneurs Who Transform Society

Startup Professionals Musings

Every entrepreneur has an idea for transforming a market with innovative new technology, or transforming society with a new process. Entrepreneurs who have been really transformative, like Steve Jobs and Walt Disney, seemed to know how to deal with all the right elements. Seek innovation that begets invention. Failure is an option.

article thumbnail

Why Smart Entrepreneurs Build Plans For Their Startup

Startup Professionals Musings

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. Is it any wonder why so few entrepreneurs ever find the professional investors they seek? Opportunity segmentation and competitive environment.

article thumbnail

6 Keys To Funding Based On Your Marketplace Advantage

Startup Professionals Musings

In their passion and excitement about a new product or service, entrepreneurs tend to continually narrow the scope of potential competitors, and often claim to have no direct competitors. Competition for your new hydrogen fuel auto engine is not limited to other hydrogen auto engine offerings, or even other autos.

article thumbnail

6 Success Stages Every Entrepreneur Idea Has To Pass

Startup Professionals Musings

It seems like everyone wants to be an entrepreneur and get rich these days. Find out if something very similar is already selling, and who your competition would be if you proceed. File at least a provisional patent and one or more trademarks. All the evidence says that over 99% fail to make that leap. Now get real (cook it).

Ideas 136
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. Start with a service you know and love. Don’t let your service be viewed as a commodity.

Startup 111