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6 Key Rules To Stay Competitive In The Digital World

Startup Professionals Musings

In case you hadn’t noticed, the key elements of a competitive advantage for your business have changed as businesses move online, and your domain is instantly global. As a business advisor, I have to recommend even to established companies that they review and revamp their competitive strategy now, even if it appears to be working today.

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10 Keys To Real Innovation In Your Next New Business

Startup Professionals Musings

Creating intellectual property, including patents, is the kay to long-term value and a sustainable competitive advantage. From time to time, include customers and sales members in ideation sessions. Once a new product is launched, a key metric is the ratio of new product sales to overall sales. Accountability.

Coach 137
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Hire for your core. Partner for the rest.

Berkonomics

Every business has an intellectual foundation where the CEO’s knowledge and vision create a barrier to entry that deflects some or much of the potential competition. Patents, branding, marketing and more. Or we do so with brilliant research and development, highly trained sales forces, large advertising campaigns, or secret processes.

Patents 120
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Getting A Software Patent Is Valuable But Frustrating

Startup Professionals Musings

For a software startup, a patent can be the intellectual property providing the key competitive advantage, or it can be an expensive non-defensible bureaucratic nightmare -- or both. Some argue to simply eliminate software patents, while others put their hopes in U.S. There is no such thing as a world-wide patent.

Patents 53
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10 Business Model Components Required In Every Plan

Startup Professionals Musings

A target market is the group of customers that the startup plans to attract through marketing and sales their product or service. Sales/Marketing. Be specific on sales channels and marketing initiatives. Competition. Investors look for a sustainable competitive advantage, like a patent. What are your costs?

Sales 102
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10 Steps To A New Venture That Can Change The World

Startup Professionals Musings

Creating intellectual property, including patents, is the kay to long-term value and a sustainable competitive advantage. From time to time, include customers and sales members in ideation sessions. Once a new product is launched, a key metric is the ratio of new product sales to overall sales. Accountability.

Coach 144
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6 Lessons Most Entrepreneurs Only Learn On The Street

Startup Professionals Musings

You alone will never find enough hours in a day to keep with all the challenges of sales, support, and scaling the business, in addition to developing and delivering your solution. Intellectual property is required for a competitive edge. As an angel investor myself, I’ve often heard the argument that your solution has no competition.