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 don’t have enough hours in a day, or trained people, to succeed with lower margins in a services startup.

Startup 111

Startup Training Services Writing 111

Startup Professionals Musings

MAY 10, 2021

Experienced entrepreneurs will tell you that the initial idea is the easy part, and it’s the later implementation, and the competitive business marketing that are the real creative challenges. If you study the Amazon 1-click patent long enough, you’ll likely find something of your own worth patenting. You cannot will a new idea.

Ideas 171

Ideas Patents Training Entrepreneur 171

Startup Professionals Musings

AUGUST 14, 2012

One of the toughest and yet most important questions you will be asked by savvy potential startup investors is “What is your sustainable competitive advantage?” Yet many entrepreneurs, maybe in their passion for their new product, gloss over this one, or even announce that they have no competition.

Competition 97

Competition Patents Startup Social Network 97

Startup Professionals Musings

JUNE 14, 2011

One of the toughest and yet most important questions you will be asked by savvy potential startup investors is “What is your sustainable competitive advantage?” Yet many entrepreneurs, maybe in their passion for their new product, gloss over this one, or even announce that they have no competition.

Competition 102

Competition Patents Startup Social Network 102

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

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 don’t have enough hours in a day, or trained people, to succeed with lower margins in a services startup.

Startup 174

Startup Training Services Writing 174

Startup Professionals Musings

MAY 13, 2023

Don’t forget to consider customer alternatives, like trains versus airplanes. 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. Check for intellectual property barriers in your way.

Ideas 106

Ideas Technical Review Patents Startup 106

Startup Professionals Musings

JULY 27, 2022

I call this linear thinking , and it’s a sure way to be ultimately overrun by your competition. For example, Elon Musk, who owns many battery patents , normally kept for a competitive edge, decided to open them all to any competitors in an effort to expand the market for his electric vehicles.

Competition 139

Competition Examples Custom Customer 139

Startup Professionals Musings

JANUARY 8, 2023

So before you decide to move your manufacturing, software development, or call center out of town, make sure you understand the following considerations: Don’t give someone else control of your competitive advantage. Saving cost won’t help you if you can’t make the daily innovations required to stay competitive.

Software Review 114

Software Review Technical Review Outsource Development Outsource 114

Berkonomics

AUGUST 23, 2012

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. Or we do so with brilliant research and development, highly trained sales forces, large advertising campaigns, or secret processes.

Patents 159

Patents Training Resource Advertising 159

Startup Professionals Musings

JULY 25, 2020

Creating intellectual property, including patents, is the kay to long-term value and a sustainable competitive advantage. Training and coaching. Sustainable innovation is really the only sustainable competitive advantage. Innovative technologies have no value until they are turned into solutions to real customer problems.

Metrics 144

Metrics Coach Social Network Competition 144

Startup Professionals Musings

DECEMBER 2, 2022

Competition. Think broadly here, like planes versus trains. Investors look for a sustainable competitive advantage, like a patent. Test your projections against actual published reports from similar companies. How many competitors do you have? No competitors probably means there is no market. Unique selling proposition.

Sales 102

Sales Customer Custom Outsource 102

Startup Professionals Musings

APRIL 26, 2021

Investors know that operational and employee expenses are always higher than anticipated, not to mention customer acquisition costs, capital expenses, and ongoing competitive initiatives. Competitor resources include larger cash assets, trained staffs, an existing customers, and a known brand in the market.

Funding 132

Funding Resource Template Competition 132

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. There is no substitute for experience and trained skills in the business area you are attacking.

Entrepreneur 111

Entrepreneur Social Media Patents Mentor 111

Startup Professionals Musings

MAY 28, 2010

One of the toughest and yet most important questions you will be asked by savvy potential investors is “What is your sustainable competitive advantage?” Yet many entrepreneurs, maybe in their passion for their new product, gloss over this one, or even announce that they have no competition. Proven team with inside relationships.

Competition 49

Competition Tips Patents Startup 49

Startup Professionals Musings

APRIL 13, 2020

So before you decide to move your manufacturing, software development, or call center out of town, make sure you understand the following considerations: Don’t give someone else control of your competitive advantage. Saving cost won’t help you if you can’t make the daily innovations required to stay competitive.

Outsource Development 122

Outsource Development Outsource Software Review Technical Review 122

Startup Professionals Musings

MAY 20, 2023

On the other hand, if you have a new technology, with patent applied for, maybe you more time to get it right. Don’t wait for anyone to pay your way to class, or give you time off for training. There certainly isn’t anything wrong with a regular well-paid job and career, with health-care benefits, and a competitive retirement plan.

Startup 110

Startup Ideas Entrepreneur Metrics 110

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 all recognize that there are no guarantees.

Patents 90

Patents Competition IBM IBM 90

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. There is no substitute for experience and trained skills in the business area you are attacking.

Entrepreneur 126

Entrepreneur Social Media Patents Mentor 126

Startup Professionals Musings

SEPTEMBER 2, 2018

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 don’t have enough hours in a day, or trained people, to succeed with lower margins in a services startup.

Services 72

Services Startup Training Writing 72

Startup Professionals Musings

AUGUST 18, 2018

Creating intellectual property, including patents, is the kay to long-term value and a sustainable competitive advantage. Training and coaching. Sustainable innovation is really the only sustainable competitive advantage. Innovative technologies have no value until they are turned into solutions to real customer problems.

Entrepreneur 64

Entrepreneur Metrics Coach Competition 64

Startup Professionals Musings

AUGUST 12, 2015

Creating intellectual property, including patents, is the key to long-term value and a sustainable competitive advantage. Training and coaching. They benchmark their ideas against competition, use metrics to track acceptance, sales growth, and return on investment. Accountability. Observe and measure. Marty Zwilling.

Entrepreneur 101

Entrepreneur Startup Coach Metrics 101

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

JUNE 27, 2014

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 don’t have enough hours in a day, or trained people, to succeed with lower margins in a services startup.

Services 105

Services Startup Training Writing 105

Startup Professionals Musings

AUGUST 24, 2020

On the other hand, if you have a new technology, with patent applied for, maybe you more time to get it right. Don’t wait for anyone to pay your way to class, or give you time off for training. There certainly isn’t anything wrong with a regular well-paid job and career, with health-care benefits, and a competitive retirement plan.

Startup 150

Startup Entrepreneur Ideas Metrics 150

Startup Professionals Musings

JANUARY 27, 2020

For example, “I have patented a new tire that will double the wear mileage at half the cost.” Describe technology and features, not competitiveness. You should also deliver it at the beginning of every networking opportunity, and train your team to do the same. Too much technology and too many features can scare off both.

Sample 127

Sample Summary Startup Slides 127

Startup Professionals Musings

JUNE 12, 2016

As an investor, I always listen carefully to what an entrepreneur says, and does not say, about competition. Every business area has competition and every customer has alternatives, so a smart entrepreneur needs to acknowledge these as a positive in defining a big market, and position the features of a new solution in this context.

Competition 62

Competition Entrepreneur Patents Custom 62

Startup Professionals Musings

AUGUST 17, 2016

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 don’t have enough hours in a day, or trained people, to succeed with lower margins in a services startup.

Services 61

Services Startup Training Writing 61

Startup Professionals Musings

APRIL 1, 2013

Experienced entrepreneurs will tell you that the initial idea is the easy part, and it’s the later implementation, and the competitive business marketing that are the real creative challenges. If you study the Amazon 1-click patent long enough, you’ll likely find something of your own worth patenting. You cannot will a new idea.

Startup 100

Startup Ideas Patents Training 100

Startup Professionals Musings

AUGUST 14, 2016

Creating intellectual property, including patents, is the kay to long-term value and a sustainable competitive advantage. Training and coaching. Sustainable innovation is really the only sustainable competitive advantage. Innovative technologies have no value until they are turned into solutions to real customer problems.

Metrics 64

Metrics Coach Competition Ideas 64

Startup Professionals Musings

FEBRUARY 26, 2012

Experienced entrepreneurs will tell you that the initial idea is the easy part, and it’s the later implementation, and the competitive business marketing that are the real creative challenges. If you study the Amazon 1-click patent long enough, you’ll likely find something of your own worth patenting. You cannot will a new idea.

Ideas 109

Ideas Entrepreneur Patents Training 109

Startup Professionals Musings

NOVEMBER 4, 2010

A while back, I wrote about the importance of a “ sustainable competitive advantage ,” and outlined the business plan value and limitations of patents and competitor feature comparisons. Train every employee to be a customer service champion. Find out everything you can about how to deliver great customer service.

Custom 90

Custom Customer Services Startup 90

Startup Professionals Musings

NOVEMBER 12, 2012

Being first to offer something is often used to cover the fact that you have no patent or intellectual property. Make it clear that you have considered competition in the broadest sense, including indirect competitors and alternative solutions available. Don’t say “Product x is more expensive and hard to use.”

Startup 100

Startup Competition Patents Training 100

Startup Professionals Musings

SEPTEMBER 28, 2015

Sustainable competitive advantage. Thus, it needs an advantage to rise above the crowd, such as a patent and trademarks, unique market positioning or support from industry partners. In all cases, you need customer support, formal processes and training in place. Solution production and support.

Technical Review 100

Technical Review Pricing Entrepreneur Startup 100

Startup Professionals Musings

AUGUST 8, 2014

So before you decide to move your manufacturing, software development, or call center out of town, make sure you understand the following considerations: Dont give someone else control of your competitive advantage. Saving cost wont help you if you cant make the daily innovations required to stay competitive.

Outsource Development 95

Outsource Development Outsource Offshore Software Review 95

Startup Professionals Musings

MARCH 4, 2016

If the market is new and competition is minimal, then the time and costs of educating potential customers probably exceeds your survival time and budget. Every business takes time to scale and penetrate a market due to organizational growth, hiring, training, brand building and customer adoption. Hire slow and fire fast.

Startup 59

Startup Training Entrepreneur Custom 59

Startup Professionals Musings

NOVEMBER 5, 2018

Rather than leave your customer focus at the delivery stage, and technology in the front, customer needs and expectations must be the beginning of your journey via requirements, and remembered all along the way in times of crisis and confusion, competition, growth, failure, and success. Do well by doing good for others as well as yourself.

Technical Advisors 82

Technical Advisors Artificial Inteligence Custom Customer 82