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For example, “I just patented a new cell-phone technology that will double battery life for half the cost. My friend, Dave Bittner , offers a simple template to get started that will work for most products and services: “We sell [product/service deliverable] to [market niche] who want [unmet market need]. About 150-225 words.
Of course, you can find these elements embodied in many of the business plan templates and tools out there, such as the Business Model Canvas. Investors know that operational and employee expenses are always higher than anticipated, not to mention customer acquisition costs, capital expenses, and ongoing competitive initiatives.
A business plan is the outward facing definition of the business you hope to drive with your hardware solution, with a hardware overview in the intro to highlight customer value and competitiveness. For example, “We just patented a new battery technology that will cut your smartphone charge time and cost in half.” and trademarks.
Whether it’s something as extensive as filing patents, more simple trademark registrations, and or putting appropriate documentation in place, don’t ignore this and don’t rely on boilerplate online templates. And relying on NDAs is not the answer.
They are afraid of their competition finding out about the idea, a bigger company trying to steal it or some other entrepreneur doing it first. Well, my philosophy is that if you keep it from your competition, youre also keeping it from potential users or customers. particularly with international patent laws.
Real World Executive Summary Template. Patents and Trademarks. Competition. For instance, a services business or an opportunity with limited growth potential might be a good fit for an Angel investor, but not a venture capitalist. A restaurant is a generally appropriate for a bank, but not an Angel investor. Management Team.
of the product, file patents, hire a small sales team and launch a marketing program to take StrongMail to market. In Silicon Valley, people are much more competitive, have more focus/experience in software backgrounds and often focus more attention on the methods first, then the results.
Patent Lawsuit 6. The interesting thing is that we never looked at our competition, we never did any kind of competitive analysis on the products we wanted to be leaders, so we acted like leaders – we focused on our customers, not our competition. Bootstrap 2. 7th Horse in a 7 Horse Race 3. All-Star Team 4.
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