Startup Professionals Musings

MAY 13, 2023

That doesn’t mean that entrepreneurs should ignore business and market realities, under the assumption that success is a random phenomenon. These days, you can find existing patents and trademarks through Google and the US Patent Office online site without spending thousands of dollars with your favorite patent attorney.

Ideas 106

Ideas Technical Review Patents Startup 106

Startup Professionals Musings

OCTOBER 29, 2010

One of the most important questions you will be asked by potential investors is how your solutions beats the competition, not just today, but over the three to five year life of their investment. The concept is called “sustainable competitive advantage.” That implies competitive now, and the potential to stay in the lead.

Competition 89

Competition Patents IBM IBM 89

Startup Professionals Musings

DECEMBER 2, 2022

The most common failures are solutions looking for a problem, lack of a defined market, or an inadequate revenue model. Target market. A target market is the group of customers that the startup plans to attract through marketing and sales their product or service. Sales/Marketing. Competition. Production.

Sales 102

Sales Customer Custom Outsource 102

Berkonomics

MARCH 5, 2020

Professional investors will probe these five risk areas and make the decision to invest based upon comfort with each. One way to mitigate this is by using early money to create a prototype, to perform market research, to complete the first generation of the product, or to deliver the service to a satisfied customer.

Outsource Development 156

Outsource Development Ideas Resource Patents 156

Startup Professionals Musings

AUGUST 2, 2015

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. They are also seeking to find out how you handle one of the many tough questions that a new founder will get in today’s market.

Startup 118

Startup Competition Patents Resource 118

Startup Professionals Musings

MARCH 3, 2023

Here are the major elements of the best product plans: Market requirements section. This first section of every product plan defines the market, sizes the opportunity, and discusses individual needs and requirements that will be provided by your product and service. Opportunity segmentation and competitive environment.

Product 112

Product Summary Activity Entrepreneur 112

Startup Professionals Musings

DECEMBER 11, 2022

My first suggestion is that entrepreneurs need to forget the old myth that all they need to do is sketch an idea on a napkin, and investors will line up to invest. The most investable ventures stem from painful needs by customers who have money to spend. Investors invest in people, often more so than in the product.

Entrepreneur 108

Entrepreneur Invest Funding Patents 108

Startup Professionals Musings

JUNE 25, 2014

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. They are also seeking to find out how you handle one of the many tough questions that a new founder will get in today’s market.

Entrepreneur 110

Entrepreneur Competition Patents Resource 110

Startup Professionals Musings

APRIL 29, 2023

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

Startup Training Services Writing 111

Berkonomics

MARCH 14, 2019

Professional investors will probe these five risk areas and make the decision to invest based upon their comfort with each. One way to mitigate this is by using early money to create a prototype, to perform market research, to complete the first generation of the product, or to deliver the service to a satisfied customer.

Outsource Development 120

Outsource Development Ideas Resource Patents 120

Startup Professionals Musings

JULY 23, 2023

Will the solution give you an “unfair competitive advantage,” meaning no competitor already has it, or can replicate your solution without your skills or intellectual property. Professional investors normally like to invest only in billion dollar opportunities, with double-digit growth rates. Is there an educated marketplace waiting?

Startup 96

Startup Education Ideas Customer 96

Startup Professionals Musings

NOVEMBER 26, 2012

The founders now need a $1M Angel investment to do the marketing for a national NewCo rollout, build a team to manage the rollout, and maybe even pay themselves a salary. Here are the components and “rules of thumb” that I recommend to every startup: Place a fair market value on all physical assets (asset approach).

Startup 108

Startup Invest Patents Outsource Development 108

Startup Professionals Musings

OCTOBER 15, 2022

Registered patents and other intellectual property. From an investor perspective, understanding and acting early to establish a sustainable competitive advantage, and barrier to entry, is the best assurance of a financial return. Being the first mover or lowest cost is not a good long-term strategy. Expert in your chosen domain.

Entrepreneur 111

Entrepreneur Social Media Patents Mentor 111

Startup Professionals Musings

AUGUST 3, 2020

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

Startup Training Services Writing 174

Startup Professionals Musings

JANUARY 27, 2018

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. They are also seeking to find out how you handle one of the many tough questions that a new founder will get in today’s market.

Competition 51

Competition Patents Resource Entrepreneur 51

Startup Professionals Musings

MAY 31, 2020

Here are the major elements of the best product plans: Market requirements section. This first section of every product plan defines the market, sizes the opportunity, and discusses individual needs and requirements that will be provided by your product and service. Opportunity segmentation and competitive environment.

Entrepreneur 124

Entrepreneur Startup Summary Product 124

Startup Professionals Musings

MARCH 14, 2020

My first suggestion is that entrepreneurs need to forget the old myth that all they need to do is sketch an idea on a napkin, and investors will line up to invest. The most investable ventures stem from painful needs by customers who have money to spend. Investors invest in people, often more so than in the product.

Funding 123

Funding Startup Entrepreneur Invest 123

Berkonomics

DECEMBER 20, 2018

So here goes: How would I find companies willing to license my intellectual property or to invest in a royalty stream from licenses? Investment banker? These are your candidates, because they are companies already absorbing much or all the marketing expense necessary to make sales of your invention. Would I hire a broker?

IP 136

IP Product Equity Tool 136

Berkonomics

DECEMBER 20, 2018

So here goes: How would I find companies willing to license my intellectual property or to invest in a royalty stream from licenses? Investment banker? These are your candidates, because they are companies already absorbing much or all the marketing expense necessary to make sales of your invention. Would I hire a broker?

IP 120

IP Product Equity Tool 120

Startup Professionals Musings

NOVEMBER 4, 2020

Will the solution give you an “unfair competitive advantage,” meaning no competitor already has it, or can replicate your solution without your skills or intellectual property. Professional investors normally like to invest only in billion dollar opportunities, with double-digit growth rates. Is there an educated marketplace waiting?

Startup 166

Startup Education Ideas Customer 166

Berkonomics

MARCH 15, 2012

Professional investors will probe these five risk areas and make the decision to invest based upon comfort with each. One way to mitigate this is by using early money to create a prototype, to perform market research, to complete the first generation of the product, or to deliver the service to a satisfied customer.

Outsource Development 200

Outsource Development Ideas Resource Patents 200

Startup Professionals Musings

DECEMBER 11, 2015

They don’t realize that knocking competitors is assessed as a weakness and denying that you have any competition suggests there is no market for your solution. Taking action to file even a provisional patent shows you have the conviction and skill to execute while others have no barrier to entry.

Capital 63

Capital Competition Case Study Patents 63

Startup Professionals Musings

JANUARY 27, 2020

Lead with your best marketing pitch and conviction. Of course, it’s always good to speak with conviction, but marketing terms such as “improved productivity” or “lower cost” won’t make your offering memorable. For example, “I have patented a new tire that will double the wear mileage at half the cost.”

Sample 127

Sample Summary Startup Slides 127

Startup Professionals Musings

FEBRUARY 10, 2012

One of the most important questions you will be asked by potential investors is how your solutions beats the competition, not just today, but over the three to five year life of their investment. The concept is called “sustainable competitive advantage.” Our patent will protect us.” We have the first mover advantage.”

Patents 90

Patents Competition IBM IBM 90

Both Sides of the Table

OCTOBER 30, 2014

I think this is a combination of being realists as venture capitalists that outsized returns in our funds must come from taking on bigger, more impactful projects that can move markets. Did anybody hold patents that would prevent us from using this technology? Did anybody hold patents that would prevent us from using this technology?

Technical Review 418

Technical Review Software Review CTO Hire IP 418

Startup Professionals Musings

JUNE 26, 2015

As a model, think high-quality marketing collateral, with text and graphics in columns and sidebars, but focused on the value of your business, rather than selling your product. Skip the fuzzy marketing terms, such as "easier to use," "lower cost" and "disruptive technology."

Summary 101

Summary Patents Technical Review Competition 101

Startup Professionals Musings

JANUARY 13, 2020

Registered patents and other intellectual property. From an investor perspective, understanding and acting early to establish a sustainable competitive advantage, and barrier to entry, is the best assurance of a financial return. Being the first mover or lowest cost is not a good long-term strategy. Expert in your chosen domain.

Entrepreneur 126

Entrepreneur Social Media Patents Mentor 126

SoCal CTO

FEBRUARY 25, 2009

Fantastic post by Christian Gammill - Startup Delta Force… From a competitive perspective (e.g. all the other folks out there that will try to enter the same market) the barriers have been dropping over the last few years. How’s that for duality. Business - how are you actually going to make money? many more (please comment below)

Startup 150

Startup SEM IP SEO 150

Startup Professionals Musings

NOVEMBER 4, 2011

File a patent and trademarks to show real intellectual property. Having a defensible competitive advantage or “barrier to entry” is another critical step to funding, and another common stumbling block during all phases of the funding process. Prepare an investment-grade business plan. Define some intellectual property.

Invest 99

Invest Angel Technical Review Summary 99

Startup Professionals Musings

JUNE 25, 2021

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. Relevant questions include the type of business entity (LLC or C-Corp), licensing or manufacturing, sales and marketing, and staffing. Now get real (cook it).

Ideas 136

Ideas Entrepreneur Mentor Resource 136

Startup Professionals Musings

DECEMBER 8, 2017

For example, “I just patented a new cell-phone technology that will double battery life for half the cost. Opportunity segmentation and competitive environment. The market scope for your solution should be quantified in non-technical terms, with data sourced from professionals in the industry, rather than your own opinion.

Startup 65

Startup Writing Patents Competition 65

Startup Professionals Musings

SEPTEMBER 14, 2015

The bad news is that many are already doing it, with competition growing, so the longer you wait, the less chance you have of getting there first. In a new startup, there is tremendous competitive value in registering intellectual property early, but you don’t need to contract these tasks to expensive experts any longer.

Startup 108

Startup Search Engine Optimization Social Media Outsource Development 108

Startup Professionals Musings

JULY 27, 2018

Here are the unique business elements that I expect to hear as a potential investor: Target market size and growth projections. Most investors won’t be interested unless you can show them a large market (billion-dollar opportunity), with a double-digit growth rate. Intellectual property and sustainable competitive advantage.

Product 58

Product Slides Entrepreneur Invest 58

Startup Professionals Musings

AUGUST 27, 2012

Here are the ten slides you need: Problem and market need. Make sure to communicate the relevance of your product / services to market needs. Describe your technology patents and “secret sauce”. Define the characteristics of the overall industry, market forces, market dynamics, and customer landscape.

Slides 99

Slides Competition Sample Sales 99

Startup Professionals Musings

JULY 31, 2015

Rely on marketing content and emotion vs. facts. For example, “I have patented a new LCD with double the intensity at half the cost, already proven locally, and I just need resources to scale for this market.” Your second sentence should acknowledge competition, but highlight your added value.

Startup 104

Startup Summary Patents Examples 104

Startup Professionals Musings

APRIL 30, 2012

Although their book is written for businesses of all sizes, I believe the principles apply especially to startups as follows: Increase return on equity invested. The first purpose of a strategy is to organize and reallocate your resources to increase return on the amount of money invested in your startup to-date. Great business model.

Startup 99

Startup Competition IP Patents 99

Startup Professionals Musings

MAY 30, 2012

Of course, the first one gets the patent. But patent disclosure requirements often make imitation easier, and smart technologists can work around most patents anyway. Market research is more meaningful if there is already a market and real customers. Try a new country or market. Imitation drives progress.

Patents 84

Patents Startup Statistics Course 84