Remove Custom Remove Demand Remove Patents Remove Technical Review
article thumbnail

10 Practices To Avoid When Running Your First Startup

Startup Professionals Musings

In the rush of a startup, it’s tempting to start spending the money you expect any day from a rich uncle or a major new customer. Many entrepreneurs have destroyed a strategic alliance, an investor relationship, or lost a key customer by jumping in with harsh words after a bad day at home or at the office.

Startup 100
article thumbnail

8 Tips For Success In Turning A Dream Into A Business

Startup Professionals Musings

For example, a while back a passionate entrepreneur approached me with an innovative solution for reducing world hunger, but hadn’t focused on the fact that hungry people often don’t have any money, and governments are not easy customers. Find market evidence of customers with means who are willing to pay for a solution.

Tips 80
Insiders

Sign Up for our Newsletter

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

article thumbnail

10 Startup Practices With A Proven Record Of Failure

Startup Professionals Musings

In the rush of a startup, it’s tempting to start spending the money you expect any day from a rich uncle or a major new customer. Many entrepreneurs have destroyed a strategic alliance, an investor relationship, or lost a key customer by jumping in with harsh words after a bad day at home or at the office.

Startup 125
article thumbnail

6 Steps To Move From Inspiration To Business Reality

Startup Professionals Musings

Thus, I’m more impressed with entrepreneurs who ask me to review their implementation plan, rather than listen again to their idea. In my experience, the key steps I look for always include the following: Testing the idea against customers who have money to spend. Prepare your marketing story for customers and investors.

Ideas 94
article thumbnail

Interview with Mike Hopkins, ICE Energy

socalTECH

Santa Barbara-based Ice Energy (www.ice-energy.com) has quietly been working away at developing energy storage systems to help smooth out the demand for energy on the nation's power grid. Can you talk about your technology? We have thirteen patents associated with the Ice bear. How is it that utilities are your main customer?

article thumbnail

10 Ways Entrepreneurs Fail Their Way To The Top

Startup Professionals Musings

In the rush of a startup, it’s tempting to start spending the money you expect any day from a rich uncle or a major new customer. Many entrepreneurs have destroyed a strategic alliance, an investor relationship, or lost a key customer by jumping in with harsh words after a bad day at home or at the office.

article thumbnail

The Smartest Entrepreneurs Bootstrap Their Startup

Startup Professionals Musings

Of course, every company needs these, in due time. In today’s Internet world, enterprising entrepreneurs have found that they can find out and do almost anything they need, from incorporating the company to filing patents, without expensive consultants, or the cost to hiring and firing employees. Need expensive resources up front.

Startup 100