Remove Competition Remove Ideas Remove Patents Remove Writing
article thumbnail

5 Steps To Get You From Your First Idea To A Business

Startup Professionals Musings

One thing I have learned the hard way in business is that implementing new ideas is usually much more difficult than conceiving the idea in the first place. That’s why I caution my aspiring entrepreneur clients against proclaiming to investors that they are a great “idea” person. For example, I have a friend with a Ph.D.

Ideas 126
article thumbnail

10 Common Startup Mistakes That Are Rarely Admitted

Startup Professionals Musings

I believe the old adage that you don’t know what you don’t know until you try to write it down. The discipline of writing down your plan is the best way to make sure you understand how to transform your idea into a business, and how to communicate it. Not every great idea is a viable business.

Startup 124
Insiders

Sign Up for our Newsletter

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

article thumbnail

Reduce five risks: Increase your valuation

Berkonomics

This risk can be mitigated by finding a customer willing to purchase as soon as a proven model is completed, and willing to state this in writing. Email readers, continue here…] A great idea often fails from the inexperience or inability of management to bring the idea to market. And fifth: Competitive risk. .

article thumbnail

6 Drivers For Aspiring Entrepreneurs To Finish School

Startup Professionals Musings

Most colleges have now added classes in entrepreneurship to include the necessary business focus to technical majors that usually drive innovative ideas. Every school recognizes the power of “hands-on” work to help you develop your own ideas into a business. Write a business plan and pitch deck for learning.

article thumbnail

10 Popular Business Strategies That Most Often Fail

Startup Professionals Musings

I believe the old adage that you don’t know what you don’t know until you try to write it down. The discipline of writing down your plan is the best way to make sure you understand how to transform your idea into a business, and how to communicate it. Not every great idea is a viable business.

Startup 174
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. Thus, if a startup team asks, “What is this patent worth to us?”,

IP 256
article thumbnail

Can you overcome five risks and create wealth?

Berkonomics

This risk can be mitigated by finding a customer willing to purchase as soon as a proven model is completed, and willing to state this in writing. A great idea often fails from the inexperience or inability of management to bring the idea to market. And fifth: Competitive risk. . Third: Management risk. .